B of A Securities analyst Wamsi Mohan maintains IBM (NYSE:IBM) with a Buy and raises the price target from $200 to $220.
B of A Securities analyst Wamsi Mohan maintains IBM (NYSE:IBM) 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: We raise our 12-month target price by $2 to $30, valuing BEN shares at 10.5x our FY26 (Sep.) EPS estimate of $2.87, 11.3x our FY25 EPS estimate of $2.65, and 12x our FY24 EPS estimate of $2.50. This compares to BEN’s 3-year average forward multiple of 9.7x and the broader asset management and private equity peer group average of 16.6x. After a 5% revenue decline in FY23, we look for revenues to be flat to up 5% in FY24 and FY25. However, BEN has been acquisitive in recent years and could alter its top line growth trajectory with a deal. We do not, however, foresee much organic revenue growth, as BEN remains beset with asset outflows, like the $17B in FY 23 and $28.6B in FY22. Weighing
CFRA Keeps Hold Opinion On Shares Of Franklin Resources, Inc. Read Post »
Wedbush analyst Daniel Ives reiterates Tesla (NASDAQ:TSLA) with a Outperform and maintains $315 price target.
Wedbush analyst Daniel Ives reiterates Tesla (NASDAQ:TSLA) with a Outperform Read Post »
McDonald’s chicken sales are growing faster than beef, but the company has more work to do to claim more share in the market, the company says at an investor conference. Chicken counts for some of the chain’s biggest selling brands, but McDonald’s needs more of them, the company says. McDonald’s coffee is also too inconsistent as its restaurants use 100 different coffee machines across its global restaurants, and the company has more to do to improve its taste, the chain says.
McDonald’s Wants More Chicken, Better Coffee Read Post »
RBC Capital analyst Gerard Cassidy reiterates JPMorgan Chase with a Outperform and maintains $185 price target.
RBC Capital analyst Gerard Cassidy reiterates JPMorgan Chase 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 think it is uncertain whether ROKU’s operating system holds great value in the fast-changing video streaming market as it attempts to be the preferred platform that viewers use to toggle easily between different streaming channels. The launch of its own branded TVs held promise to spur new subscribers at ROKU. However, Walmart’s (WMT 61 ****) planned $2.3B purchase of Vizio to bolster its own advertising business, like Amazon (AMZN 177 ****), is a negative for selling ROKU televisions through this retailer. ROKU’s operating outlook shows modest gains in EBITDA, with $4M in ’23, a $95M consensus estimate in ’24, and $239M in ’25; these are not material to apply TEV/EBITDA valuation. A long-term DCF model to value ROKU is difficult, in our view, given the uncertainties
CFRA Retains Hold Opinion On Shares Of Roku, Inc. Read Post »
NVIDIA (NVDA)’s GPU tech conference next week is expected to emphasize the rising impact of generative artificial intelligence and omniverse digital twins on various end-markets, BofA Securities said Tuesday in a report. BofA lifted its price objective on Nvidia to $1,100 from $925 and maintained its buy rating on the stock before the conference on March 18-21 in San Jose, California. BofA expects the conference to showcase the “opportunity to re-architect” $1 trillion to $2 trillion of global computing infrastructure with accelerators, leading to an annual market of $250 billion to $500 billion over the next three to five years, compared with the prior $250 billion forecast. The conference is also expected to discuss a monetization update across recurring software and services and increasing enterprise use cases and demand from various countries and regions, the report said. “AI is critical in countries developing tools to assist in applications such as
Morgan Stanley analyst Hamza Fodderwala maintains CrowdStrike Holdings with a Overweight and raises the price target from $304 to $372.
Morgan Stanley analyst Hamza Fodderwala maintains CrowdStrike Holdings with a Overweight Read Post »
Nucor stock is rising and shares of Cleveland-Cliffs are falling after an analyst argued the former steel maker deserves a better valuation than the latter. Citi analyst Alexander Hacking flipped his ratings on the stocks. He now rates Nucor shares at Buy instead of Hold, lifting his target for the stock price to $240 from $180. He kept his price target for Cliffs stock at $22 but lowered his rating to Hold from Buy. Cliffs’ “revenues have been as good as advertised (if not better) based on strong volumes, record [automotive] steel prices, and resilient hot rolled coil [pricing], but higher costs have led to underwhelming [earnings],” wrote Hacking. Hot-rolled coil, a benchmark steel product, is processed for use in car manufacturing. Cliffs is a significant provider of steel to auto makers. Cliffs is expected to earn about $1.50 a share in 2024, according to FactSet. That is better than
By Angela Palumbo McDonald’s has been feeling the pressure as more people shift to grocery shopping as opposed to eating at restaurants. The fast-food chain has several plans to keep customers coming in for its Big Macs and Chicken McNuggets. During a presentation at the UBS Global Consumer and Retail Conference on Wednesday, fast-food giant McDonald’s noted a shifting trend of customers that has negative implications for the business. “You’re starting to see food at home inflation versus food away from home getting back to its more, I think, historical dynamic, which means I think some of those consumers are just choosing to eat at home more often,” said Chief Financial Officer Ian Borden. According to the U.S. consumer price index for February, prices for food at home have increased 1% over the last 12 months while prices for food away from home have jumped 4.5%. Consumers also are facing
McDonald’s (MCD) expects Q1 international developmental licensed segment sales to be slightly lower than the previous quarter due to the war in the Middle East and “challenges” in China, Chief Financial Officer Ian Borden said Wednesday. “I think you’ve heard lots of different companies talk about the, what I’ll call the macro and consumer challenges in China,” Borden said in a presentation at a retail conference, according to a Capital IQ transcript. “I think our business is doing okay, but I think the environment continues to be challenging.” Shares of McDonald’s were down more than 3% in recent trading.
By Denny Jacob Adobe is scheduled to report its first-quarter results Thursday after the market closes. Here’s what you need to know. NET INCOME: The software maker is expected to post $1.54 billion in net income, up from $1.25 billion a year earlier, according to FactSet. REVENUE: The San Jose, Calif.-based company is expected to post $5.14 billion in revenue for the quarter ended March 1, compared with $4.66 billion in the prior-year period, according to FactSet. Adobe previously forecast revenue between $5.1 billion and $5.15 billion. ADJUSTED EARNINGS: Stripping out one-time items, earnings are expected to come in at $4.38 a share, according to FactSet. The stock price declined about 6.8% during the quarter and recently traded at $580.39. WHAT TO WATCH — Look for fresh details from Adobe following its scrapped $20 billion bid for collaboration-software company Figma. News of the abandoned deal came a few days after
Adobe Expected to Post 1Q Revenue, Profit Increase — Earnings Preview Read Post »