Technology

CFRA Maintains Hold Opinion On Shares Of Lam Research Corporation

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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 target by $130 to $907, 25.5x our FY 2025 (Jun.) EPS view, near peers but well above LRCX’s three-year average (~17x) on rising AI excitement and an improving memory market outlook. We shift our focus to FY 2025 given expectations of accelerated activity during the year, with node advancements expected in 2024 and subsequent ramps boosting business in 2025, along with our expectation of consistent growth in DRAM to support high-bandwidth memory/AI. We raise our FY 2024 EPS view by $0.03 to $29.36 and our FY 25 view by $0.49 to $35.57, supported by bullish peer commentary in the memory space. We initiate our FY 2026 view at $45.49. Despite positive business fundamentals, we think LRCX remains too pricey to upgrade to Buy at […]

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CFRA Upgrades Opinion On Shares Of Doordash, Inc To Buy From Hold

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target to $158 from $110 on a P/E of 40x our 2025 EPS view, above peers, reflecting financial strength (net cash of $4B) and higher growth. We lift our 2024 EPS to $2.75 from $2.71 and 2025’s to $3.96 from $3.54. We upgrade our view on DASH due to our increased conviction in the company’s accelerating growth trajectory across almost all of its business segments, driven by stickiness of its delivery ecosystem. We remain positive given high growth potential from subscription services (+18M members in 2023 vs. 15M in 2022) and expansion into grocery/retail/international boosting Marketplace GOV and orders (+22% GOV and +23% orders in Q4). We also see a positive secular trend emerging within the gig economy, thanks to ample supply of

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DoorDash Likely Invested $600 Million Last Year in New Verticals, International

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DoorDash appears to have spent at least $600 million last year on new verticals and international business, while maintaining healthy core profitability, JMP Securities analysts say in a research note. They started sifting through the company’s disclosures in recent years to break out the contributions of the core U.S. restaurants business and other operations and say $1.8 billion in EBITDA is achievable in 2024 with a potential $2.6 billion in 2025. Both estimates are above the FactSet consensus. “With better visibility into core economics, we raise our DoorDash price target to $160 from $130 prior,” the analysts add. DoorDash is off 1% to $138.84

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Adobe Systems, Microsoft Collaborate to Roll Out AI Capabilities for Marketers

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Adobe Systems (ADBE) and Microsoft (MSFT) on Tuesday announced their intention to introduce generative artificial intelligence capabilities for marketers. The companies said they plan to integrate Adobe Experience Cloud, a collection of integrated online marketing and web analytics products, with Microsoft Copilot for Microsoft 365 to simplify workflow management for marketers. The collaboration will focus on aiding marketers who collaborate across teams, offering them insights, creating campaign materials with context, and facilitating project progress through notifications, the companies said. Financial details weren’t disclosed.

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Adobe’s AI Shifts From ‘Being in Awe of Everything’ to Actual Productivity Gains

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By Jon Swartz Adobe’s approach highlights the need for AI companies to think deeply about content moderation and protecting their brands Adobe Inc. is putting a creative spin on generative AI with apps and a partnership to animate business productivity. At the desktop-publishing pioneer’s annual conference in Las Vegas on Tuesday, Adobe (ADBE) announced a new AI-powered ad-creation platform, called GenStudio, for advertising and marketing campaigns, alongside updates to Adobe’s Firefly generative-AI model, which debuted a year ago. Firefly is what’s known as co-pilot technology, which leverages the company’s software tools to create original content. Additionally, Adobe and Microsoft Corp. (MSFT) detailed a technology partnership to help marketers overcome application and data silos and more efficiently manage everyday workflows. “If 2023 was about just being in awe of everything that’s happening and having fun with AI, 2024 is the beginning of leveraging AI to have real productivity gains,” David Wadhwani,

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