Truist Securities analyst Robyn Karnauskas reiterates Eli Lilly and Co with a Buy and maintains $850 price target.
Truist Securities analyst Robyn Karnauskas reiterates Eli Lilly and Co with a Buy Read Post »
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 price of $261, cut by $2, reflects a 12x multiple of our FY 25 (May) EPS estimate, in line with FDX’s historical forward average. We lift our FY 24 EPS estimate by $0.09 to $17.78 and trim FY 25’s by $0.20 to $21.72. Feb-Q EPS of $3.86 vs. $3.41, beat consensus by $0.38. Revenues of $21.7B were 1.6% below consensus (and -1.9% Y/Y), so the large EPS beat is on margin expansion via cost cuts. The revised FY 24 EPS guidance range ($17.25-$18.25) leaves the midpoint unchanged, but tightens the range by $0.25 on either end. The Express segment yielded adjusted operating margins of 2.5% (up by 130 bps), but volumes in Express were still down, and volumes were only flat in Ground. We
CFRA Cuts View On Shares Of Fedex Corporation To Sell From Hold Read Post »
Accenture (ACN) is grappling with a difficult macro environment, but its unique position to provide digital transformation at scale and its balanced capital redeployment support a higher valuation, RBC Capital Markets said in a report emailed Friday. The brokerage said it reduced its fiscal 2024 and 2025 estimates following the company’s fiscal Q2 results and fiscal 2024 guidance reduction. For fiscal 2024, RBC now expects adjusted earnings of $12.05 per share and revenue of $65.1 billion, down from its previous forecasts of $12.25 per share and $65.5 billion. For fiscal 2025, it now projects adjusted EPS of $12.85 on revenue of $68.2 billion, down from its previous estimates of $13.10 per share and $68.7 billion. The “challenging” demand environment “is constraining budgets to be allocated towards larger transformations, which we note converts to revenue slower than smaller deals,” it said. RBC has outperform rating on the company’s stock and raised
Accenture May Gain From AI Opportunities Despite Macro Challenges, RBC Says Read Post »
The following is a summary of the FactSet Research Systems Inc. (FDS) Q2 2024 Earnings Call Transcript: Financial Performance: FactSet recorded Q2 organic ASV plus professional services growth of 5.4% year-over-year, with an adjusted operating margin of 38.3% and adjusted diluted EPS of $4.22. GAAP revenue for the quarter rose by 6% to $546 million, while the GAAP operating expenses increased by 5%. An improvement of 130 basis points was noted in the adjusted operating margin to 38.3% and adjusted diluted EPS rose by 11% to $4.22. Q2 closed with more than 8,000 clients, and user count was 206,478. However, free cash flow decreased by 17% to $122 million compared to the same quarter in the prior year. Business Progress: FactSet’s client retention remained strong at 90%, with ASV retention higher than 95%, despite purchasing decisions being delayed due to client caution. Positive momentum is being seen with corporates within
FactSet Research Systems (NYSE:FDS) Q2 2024 Earnings Conference Read Post »
Stifel analyst J. Bruce Chan maintains FedEx (NYSE:FDX) with a Buy and lowers the price target from $305 to $290.
Stifel analyst J. Bruce Chan maintains FedEx (NYSE:FDX) with a Buy Read Post »
Wedbush analyst Daniel Ives reiterates Apple with a Outperform and maintains $250 price target.
Wedbush analyst Daniel Ives reiterates Apple with a Outperform Read Post »
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 $40 to $235, based on a 2025 P/E of 55x, a justified premium to peers. We lower our adjusted EPS estimates to $3.00 from $3.90 for 2024 and to $4.25 from $5.50 for 2025 to reflect reduced sales volume and margin assumptions. TSLA shares have underperformed so far in 2024, a pullback we believe was overdue after the stock more than doubled in 2023, but we now see a slower production ramp-up for the Cybertruck and moderating sales growth for the Model Y and Model 3 relative to last year’s 39% Y/Y increase. Given the high fixed cost nature of auto manufacturing, lower volumes should also weigh on margins, although declining battery costs are a silver lining. The good news is
CFRA Reiterates Buy Opinion On Shares Of Tesla Inc. Read Post »
DoorDash (DASH) and Alphabet’s (GOOG) Wing subsidiary launched their drone delivery partnership in the US, starting the service with their first restaurant partner Wendy’s in Christiansburg, Virginia, the partners said Thursday. From Thursday, customers with eligible addresses who will order from the specific Wendy’s branch partner will have the option to choose drone delivery, according to the companies. DoorDash and Wing said they plan to explore expanding the service to other US cities later this year.
DoorDash, Alphabet’s Wing Launch Drone Delivery Service in Virginia Read Post »
Comcast (CMCSA) said Thursday that it plans to invest over $265 million to expand its Xfinity network in Texas this year with the installation of over 1,000 miles of new fiber-rich highways. This year’s expansion will start in Conroe, Montgomery, Hempstead, Porter, Navasota and Cleveland, while ongoing network infrastructure projects in Houston will continue, said the company. Comcast said the investment for the expansion is in addition to its $3 billion investment in Texas over the last three years.
Comcast Plans $265 Million Fiber Network Expansion in Texas Read Post »
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 price by $6 to $175, 26.3x our next-12-month EPS of $6.67 vs. consensus’ $6.72. Our FY 2024 and FY 2025 EPS estimates are unchanged. The multiple is a premium to the five-year forward P/E average of 24x, which we think is warranted by wage trends running above inflation rates. We anticipate this dynamic to impede meaningful demand destruction as we see relatively safe staple demand compared to more discretionary items. We think PG’s margin performance, notably above its pre-pandemic levels, should provide levers to offset any turbulence if it develops. Our view reflects better volume performance in the coming two quarters, relative to the next two, and we see top-line performance surprising to the upside, which we think will lift margin performance.
CFRA Retains Buy Rating On Shares Of The Procter & Gamble Company Read Post »
TD Cowen analyst Krish Sankar maintains Micron Technology with a Outperform and raises the price target from $120 to $150.
TD Cowen analyst Krish Sankar maintains Micron Technology with a Outperform Read Post »
TD Cowen analyst Matthew Ramsay maintains NVIDIA with a Outperform and raises the price target from $900 to $1100.
TD Cowen analyst Matthew Ramsay maintains NVIDIA with a Outperform Read Post »