TD Cowen analyst Bill Katz maintains Stifel Financial with a Outperform and raises the price target from $86.5 to $92.
TD Cowen analyst Bill Katz maintains Stifel Financial with a Outperform Read Post »
FactSet Research Systems’ (FDS) wealth cancellation that led to Q2 annual subscription value miss will likely weigh on the stock, RBC Capital Markets said in a note emailed Friday. The company said the loss was a one-off event, but RBC said it expects headwinds from client services to affect the Q3 ASV, adding that investors are worried about potential additional client cancellations. “[FactSet] lowered ASV guidance to the lower end but highlighted a strong pipeline and 4Q23 ASV ramp,” RBC said. However, the ASV guidance for the fiscal second half remains uncertain, which is notable due to prolonged sales cycles, subdued financial services hiring, heightened erosion in banking, lower retention in private equity and venture capital, and increased competition, it added. “[FactSet] is seeing a healthier pipeline in [second half] vs [first half] made up of several 6-7 figure deals,” RBC said, adding that the company is experiencing robust performance
Truist analyst Youssef Squali reiterated a Buy rating on Amazon.Com Inc (NASDAQ:AMZN) with a price target of $195. Based on his tracking of a proxy for U.S. revenue growth and overall positive market trends, the analyst remained constructive on Amazon with two weeks to go in the quarter. Squali’s Truist Card Data shows that U.S. revenue is tracking ahead of the consensus of $85.0 billion and closer to $87.0 billion (+13% year-on-year), driven by improving M/M demand trends in February and so far in March. Amid a resilient economy, he noted Amazon continues to gain share, enhancing its value proposition and launching its first-ever U.S. Big Spring Sale this week, a six-day sales event with deep discounts, which should drive incremental demand and position Amazon strongly into the first quarter’s end. On a consolidated basis, for the first quarter, Squali expected total revenues of $143.1 billion (+12.3% Y/Y), slightly ahead of the consensus
Jefferies analyst Randal Konik reiterates Lululemon Athletica (NASDAQ:LULU) with a Underperform and maintains $300 price target.
UBS says Nike’s 3Q was “disappointing” and shows business fundamentals remain challenging, but that restructuring changes should help the business inflect over the near term. The analysts say in a research note that Nike is taking the right steps, but it needs to add much more newness to its assortment to drive growth, as its top selling shoes are not resonating with consumers as well as they once did. UBS lowers its FY25 and FY26 sales estimates by 2.5% and 2.1%, respectively, and cuts its target price to $125 to $138. Shares slide 6% to $94.69.
Nike’s ‘Disappointing’ 3Q Drives Estimates Lower Read Post »
B of A Securities analyst Ken Hoexter maintains FedEx (NYSE:FDX) with a Buy and raises the price target from $313 to $346.
B of A Securities analyst Ken Hoexter maintains FedEx (NYSE:FDX) with a Buy Read Post »
FedEx is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. For its fiscal third quarter, FedEx reported adjusted earnings of $3.86 a share on sales of $21.7 billion. Analysts polled by FactSet expected adjusted earnings per share of $3.43 on sales of $21.97 billion. The company said it benefited from savings due to restructuring efforts including workforce reductions and facility closures. FedEx plans to purchase $500 million of shares in the fiscal fourth quarter and its board authorized a new $5 billion stock-buyback program. Share are up 7%. Dow Jones & Co. owns Factiva.
FedEx Posts Better-Than-Expected Q3 Earnings Read Post »
Baird analyst Jonathan Komp maintains Nike (NYSE:NKE) with a Outperform and lowers the price target from $140 to $125.
Baird analyst Jonathan Komp maintains Nike (NYSE:NKE) with a Outperform Read Post »
Nike is partnering with the German Football Federation, replacing Adidas, who has been the federation’s sponsor for decades. The sneaker and apparel company has been awarded with this key contract, starting in 2027, CEO John Donahoe says on a call with analysts following the company’s latest results. “It was remarkable team effort and a great proof point that when Nike brings out our best, no one can beat us,” Donahoe says. The company didn’t disclose financial details of the deal. Shares drop 5.8% to $95.
Nike Awarded German Football Federation Deal, Replacing Adidas Read Post »
Microsoft’s (MSFT) announcement this week that it will hire key talent from artificial intelligence research firm Inflection to spearhead a new Microsoft AI business will further cement its leadership and ability to strategically navigate the evolving market, Macquarie said in a note emailed Friday. The brokerage reiterated an outperform rating and $455 price target on Microsoft’s shares. On Tuesday, the company said it was hiring Mustafa Suleyman, chief executive of startup Inflection AI, and Inflection Chief Scientist Karen Simonyan to lead Microsoft AI, a new organization focused on advancing Copilot and other consumer AI products and research. Terms of the deal were not disclosed but Reuters reported the moves as a licensing deal with Inflection valued at $650 million. Microsoft declined to comment to MT Newswires on the structure and price of the deal. “The decision to create a separate AI unit staffed principally by accomplished AI researchers suggests Microsoft
By Eric J. Savitz In yet another feat of digital alchemy, artificial intelligence has transformed the memory chip producer Micron Technology into a rip-roaring growth stock. Investors with long memories will be skeptical that this new version of the Micron story is sustainable. Historically, the memory chip business has been wildly cyclical. And yet, and I hesitate to say this, things are different this time. Already trading at an all-time high and up 29% year to date, Micron is one of the market’s best and least appreciated long-term plays on the AI trend. Even better, the stock is still cheap — just how cheap we’ll get to in a minute. But let’s be clear: Micron has always been a challenging company to value. The memory-chip maker has cutting-edge semiconductor technology, which it applies to both DRAM and NAND memory chips, used in PCs, servers, smartphones, cars, and every other imaginable
Micron Is Suddenly a Hot AI Stock — And That’s Not Hype — Barrons.com Read Post »
Truist Securities analyst Youssef Squali reiterates Amazon.com with a Buy and maintains $195 price target.
Truist Securities analyst Youssef Squali reiterates Amazon.com with a Buy Read Post »