Consumer Discretionary

Spotify Technology Poised to Report Improved Profitability, Top-Line Growth in Q1, UBS Says

/ / Consumer Discretionary /

Spotify Technology (SPOT) is poised to report improved profitability and top-line growth in Q1 as the company’s efficiency gains and price increases play out, UBS Securities said in a Thursday note. The investment firm estimated Spotify’s revenue of $3.62 billion in Q1, with a “slight” boost from updated foreign exchange estimates and an increase in average revenue per user. UBS said it also remains upbeat on the company’s margin expansion and projected Q1 gross margins to expand to 26.4%. Spotify also continues to have margin-accretive monetization opportunities, UBS added. Spotify Technology is set to release its Q1 results on April 23. UBS maintained its buy rating on Spotify, with a higher price target of $375 from $274.

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New Cybertruck Orders Will Only Be Delivered In 2025, Says Tesla Website

/ / Consumer Discretionary /

Potential Tesla Cybertruck buyers will now have to wait till 2025 to take deliveries of their vehicles if they place an order today. Tesla’s website now shows the expected delivery time as 2025 for both the all-wheel drive version of the Cybertruck and the higher-end Cyberbeast. It previously showed 2024. One can place an order for the Cybertruck with a fully refundable $250. The company will then invite order holders when the truck is ready to be configured. Cybertruck Production And Deliveries: Tesla does not segment its delivery numbers model-wise, making it difficult to ascertain how many Cybertrucks have been delivered since the company commenced deliveries in November. The company produced 20,995 units of Model S, X, and the Cybertruck cumulatively in the first quarter and delivered 17,027 units. Tesla plans to eventually deliver 250,000 Cybertrucks per year. However, Musk has previously cautioned that this milestone will not be reached this year but only

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Tesla Q1 Deliveries Were ‘Big Miss’ Even Amid Bearish Expectations, UBS Says

/ / Consumer Discretionary /

Tesla’s (TSLA) Q1 delivery figures were a “big miss” even amid a “very lowered bar,” UBS said in a note to clients emailed on Wednesday. The company said Tuesday it delivered 386,810 vehicles for the March quarter, compared with projections on Visible Alpha for about 454,200 units. It made 433,371 vehicles during the three-month period, lower than the forecast for 462,100 units. “Based on our conversations, buy-side expectations were lower, with the ‘bogey’ likely ~415k-420k,” said UBS analysts including Joseph Spak. “The lowest buy-side expectation we heard was ~400k, and results were ~3% below that figure.” The analysts said that “unique events” during the quarter — such as ramping the refreshed Model 3 at the Fremont plant, downtime caused by the Red Sea disruption, and an arson incident at the Berlin plant — hit production but demand seems to be slowing. “Showing a y/y delivery decline, especially at a rate

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CFRA Maintains Hold Opinion On Shares Of Ford Motor Company

/ / 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: We raise our 12-month target by $1 to $14, based on a 2025 P/E of 7.6x, a justified discount to historic averages. We increase our 2024 EPS estimate to $1.85 from $1.80, but leave 2025 at $1.85. Ford posted Q1 U.S. auto sales of 508,083 units (+6.8% Y/Y), ahead of expectations and outperforming average U.S. sales growth of 5.5%. Ford’s results indicated a growing consumer appetite for hybrids, where sales jumped 42% Y/Y in Q1, driven by the Maverick hybrid (+77%). Ford’s U.S. EV sales growth was also robust, rising 86% Y/Y to 20,223 units. Ford’s U.S. sales growth was impressive relative to archrival GM, where volumes were -1.5% Y/Y in Q1. The bad news for Ford and the Detroit Three is that near-term comps will be

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Disney Stock Set For 20% Upside As Bob Iger’s Turnaround Strategy Gains Momentum, Says BofA: ‘Appears To Be In Command And Control And On A Growth Offensive’

/ / Consumer Discretionary /

The Walt Disney Company’s (NYSE:DIS) stock is poised for a 20% rise as Bob Iger’s turnaround strategy begins to bear fruit, according to a note from Bank of America released on Monday. What Happened: Bank of America analyst Jessica Reif Ehrlich maintains that Iger’s growth-focused approach appears to be taking hold. The bank has reiterated its “Buy” rating on Disney and raised its price target from $130 to $145 per share, reported Business Insider. “Bob Iger now appears to be in command and control and on a growth offensive,” she wrote. Ehrlich highlighted that Disney’s theme park sector continues to perform robustly, with operating income projected to increase in the low to mid-teens in the fiscal second quarter. Furthermore, following a carriage deal with Charter, Disney is set to see a significant boost in net subscriber growth in the same quarter. This agreement, inked in late 2023, enabled certain Charter customers to access Disney+ without additional charges. Disney’s

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CFRA Adds Netflix, Inc. To The Warren Buffet Intrinsic Value Portfolio

/ / 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: We have completed our semi-annual rebalance of the Warren Buffet Intrinsic Value Portfolio (WBIV). The number of constituents has been reduced by 5 to 64. The rules-based portfolio is comprised of 47 companies that were already in the portfolio before the rebalance and 17 new companies; 22 companies were dropped from the portfolio. The most notable additions to the portfolio are: Netflix (NFLX), Gilead Sciences (GILD), and Synopsys (SNPS). The most notable deletions from the portfolio are: Eli Lilly and Company (LLY), Broadcom (AVGO), Abbvie (ABBV), Applied Materials (AMAT), and Bristol-Myers Squibb (BMY). The average market cap of the WBIV is $254 million and the dividend yield is 1.3%. The most notable increases in sector weightings (vs. the September 2023 rebalance) are Information Technology, up 3.5% to

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CFRA Maintains Buy Opinion On Shares Of Tesla 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: We cut our 12-month target by $15 to $220, based on a 2025 P/E of 55x, justified by long-term growth expectations. We lower our adjusted EPS estimates by $0.25 to $2.75 for 2024 and by $0.25 to $4.00 for 2025. TSLA posted Q1 vehicle sales of 386,810 units (-8.5% Y/Y), well short of the 457,000 consensus and our 460,000 estimate. Production totaled 433,371 units (-2% Y/Y) vs. our 440,000 estimate and was impacted by Red Sea shipping delays and an arson attack on its Berlin plant, where production was down for approximately eight days before electricity was restored. Cybertruck volumes were particularly disappointing, raising questions about its ramp-up of the new model. Despite near-term headwinds, we continue to regard Tesla as one of the market’s most compelling

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General Motors Co And Its Dealers Increased Retail Sales By 6% YoY And Delivered 594,233 Vehicles In The U.S. In Q1 2024, Down 1.5% YoY Due To Lower Fleet Deliveries

/ / Consumer Discretionary /

General Motors Co. (NYSE:GM) and its dealers increased retail sales by 6% year-over-year and delivered 594,233 vehicles in the U.S. in the first quarter of 2024, down 1.5% year-over-year due to lower fleet deliveries. GM continued its industry leadership in full-size pickup, full-size SUV and affordable small SUV sales, and its scaling of Ultium Platform EV production is on track. “Our brands are all performing well,” said Marissa West, GM senior vice president and president, North America. “GM gained retail market share year-over-year with strong mix and pricing, our inventories are in good shape heading into the spring, and production and deliveries of Ultium Platform EVs are rising, led by the Cadillac LYRIQ. We’re on plan.”

General Motors Co And Its Dealers Increased Retail Sales By 6% YoY And Delivered 594,233 Vehicles In The U.S. In Q1 2024, Down 1.5% YoY Due To Lower Fleet Deliveries Read Post »

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