Consumer Discretionary

CFRA Keeps Strong Buy Opinion On Shares Of Delta Air Lines, Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $55, up $7, is 7.7x our ’25 EPS view (down to $7.16 from $7.41; ’24’s cut to $6.15 from $6.51), below DAL’s historical average. We think a discount is merited due to ongoing issues with Boeing (BA 173 **), causing further delays in new aircraft deliveries for DAL (expected deliveries of 20 737 MAX 10 variants in ’25, now likely delayed to ’27, per DAL). Q1 EPS of $0.45 vs. $0.25, beat consensus by $0.08. Q1 revenues were up 8% Y/Y, driven by its international segment (+12%), while capacity grew 7% Y/Y. DAL reiterated its ’24 outlook (EPS in the range of $6-$7/share; FCF in the range of $3B-$4B). The EIA forecasts WTI to average $84/b in ’24 vs. $78/b in ’23; DAL […]

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Costco Wholesale Corporation Reports March Sales Results and Announces an Increase in Its Quarterly Cash Dividend

/ / Consumer Discretionary /

Costco Wholesale Corporation Reports March Sales Results and Announces an Increase in Its Quarterly Cash Dividend ISSAQUAH, Wash., April 10, 2024 (GLOBE NEWSWIRE) — Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $23.48 billion for the retail month of March, the five weeks ended April 7, 2024, an increase of 9.4 percent from $21.46 billion last year. Net sales for the first 31 weeks were $146.64 billion, an increase of 6.4 percent from $137.77 billion last year. Comparable sales for the periods ended April 7, 2024 were as follows: 5 Weeks 31 Weeks U.S. 7.3% 3.8% Canada 8.9% 8.1% Other International 8.6% 9.6% Total Company 7.7% 5.2% ======= ======== E-commerce 28.3% 14.8% ======= ======== Comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were as follows: 5 Weeks 31 Weeks U.S. 7.4% 4.3% Canada 7.3% 8.5% Other International 8.4% 7.9%

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Costco’s March Sales Jump. E-Commerce Is Taking Off. — Barrons.com

/ / Consumer Discretionary /

By Sabrina Escobar Costco Wholesale’s sales jumped nearly 10% in March compared with a year ago, giving the stock a modest lift in Wednesday’s after-hour trading session. Net sales jumped 9.4% year over year to $23.5 billion, accelerating from February’s 6.9% rise. Same-store sales — a key metric for retailers that measures sales in stores open for more than a year — rose 7.7% in March. This also marked faster growth from February, which saw same-store sales increase 5%. The board of directors increased the company’s quarterly dividend by about 14% to $1.16 per share from $1.02 per share. The dividend is payable May 10 to investors holding the shares at the close of business April 26. Costco stock ticked up 0.7% to $727.50 in after-hours trading. The shares have gained 9.4% this year, modestly outstripping the S&P 500’s 8.2% rise. An improvement in store visits likely helped boost March’s

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Tesla Could Face Headwinds Amid Plateau in EV Demand, Competition in China, UBS Says

/ / Consumer Discretionary /

Tesla (TSLA) could face headwinds to its unit growth over the coming years amid a plateau in demand for electric vehicles and increasing competition in China, UBS Securities said in a Tuesday note. The investment firm said results from its 2024 UBS Global EV survey showed that Tesla remains a leading battery electric vehicle brand consideration by 39% of the respondents globally but was overtaken by BYD in China. UBS said more respondents in the US indicated that Tesla would be their top battery electric vehicle choice but demand in the country appears “more stagnant.” Survey results also indicated that consumers “may want more EV choices,” UBS added. According to UBS, the survey results support its 2024 to 2025 delivery forecast for Tesla, which is below Street consensus. UBS maintained its neutral rating on Tesla, with a price target of $160.

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Tesla’s Stock Removed From Baird’s Bearish List With Analysts Bullish on Robotaxis and Energy

/ / Consumer Discretionary /

By Ciara Linnane Analysts still expect a ‘messy’ first quarter and say second-quarter expectations are too high Baird removed Tesla Inc. from its Bearish Fresh Pick list on Tuesday and said the news that the company’s robotaxis would debut on Aug. 8. combined with growth in the energy business, were positives that weigh against weaker-than-expected delivery numbers. Analysts led by Ben Kallo said they have fielded dozens of calls regarding Tesla’s (TSLA) recent first-quarter production numbers and nearly half centered on whether the bad news is now priced in to the stock. “We think Q1 results will be messy due to several one-time items and continue to believe Q2 estimates are likely still high,” Kallo wrote in a note to clients. “On the other hand, the announced Robotaxi unveil, emphasis on increasing FSD (full self-driving) attach rates, and Energy business growth are positives.” Baird named Tesla a Bearish Fresh Pick

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Amazon.com’s New ‘Cost to Serve’ Model Likely to Bring Upside to Retail Profit, Morgan Stanley Says

/ / Consumer Discretionary /

Amazon.com’s (AMZN) new “cost to serve” model highlights the potential for “significant upside” to base case estimates for the e-commerce giant, Morgan Stanley in a report emailed Monday. The new model shows “material upside to retail profit and gives us increased confidence” in the company’s ability to deliver more than $100 billion in earnings before interest and taxes in 2026, Morgan Stanley said. Morgan Stanley raised Amazon’s price target to $215 from $200 and kept the overweight rating. It also affirmed Amazon as a “top pick,” saying it’s “encouraged by the multiyear, efficiency based cash flow story.” “Our new breakdown of retail cost to serve (which includes shipping, fulfillment, payment processing, inbound shipping, returns, and inventory shrinkage costs) highlights how early it is in [Amazon’s] retail profitability improvement efforts,” the report said. Comments by Amazon’s management provided a “compass to follow and a path toward $10-$11 of ’26 FCF/share,” the

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Spotify Q1 Preview: Analyst Sees 2024 Shaping Up With Revenue Acceleration, Enhanced Margins

/ / Consumer Discretionary /

As Spotify Technology SA (NYSE:SPOT) gears up for its first-quarter earnings release on April 23. Wall Street expects Spotify to report 81 cents in EPS and $3.95 billion in revenue. Spotify stock is up 135% over the past year, rising 64% YTD. As the company heads towards its Q1 earnings print, analysts are buzzing with optimism and anticipation.

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