Wells Fargo analyst Aaron Rakers maintains Dell Technologies with a Overweight and raises the price target from $85 to $140.
Wells Fargo analyst maintains Dell Technologies with a Overweight 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 boost our 12-month target to $84 from $70 on a revised P/E of 30x our CY 25 EPS view, above peers but below historical. We keep our FY 24 (Jan.) EPS view at $1.51, FY 25 at $2.31, and FY 26 at $2.79. Ahead of Jan-Q results set for after the close on 3/7, we look for revenue of $1.42B and EPS of $0.46 (flat for both Y/Y). All eyes will of course be on AI revenue, which is largely driving growth for its data center segment (half of total sales). We note AI revenue appears on pace to blow through its previously guided FY 25 run rate of $800M, on greater momentum from both its optics and custom silicon solutions (about half of total from
CFRA Maintains Strong Buy Opinion On Shares Of Marvell Technology, Inc. Read Post »
Target’s (TGT) fiscal fourth-quarter sales likely remained “challenged,” though the retailer’s recent initiatives should help support traffic and share gains going forward, BofA Securities said Friday. The company is scheduled to report fourth-quarter results Tuesday. BofA expects earnings to increase nearly 35% year over year to $2.55 per share, with revenue seen up 1.1% at $31.74 billion. Wall Street is looking for $2.39 and $31.81 billion, respectively, according to the brokerage. BofA expects same-store sales to decline 5%, versus the Street’s call for a 4.6% drop. The firm expects moderating food and beverage inflation and soft discretionary trends to counter improving traffic, backed by Target’s strategic and merchandising measures. “While near-term sales remain challenged, we believe investors may look through recent pressure to a potential inflection, which we believe (Target) may see in (the second quarter),” BofA analyst Robert Ohmes said in a note. The company is expected to face
Target’s Fiscal Fourth-Quarter Sales Likely Remained ‘Challenged,’ BofA Says Read Post »
Veeva Systems (VEEV) cited “more optimism” among top pharmaceutical customers as macro hurdles persist, UBS Securities said Thursday in a report. Veeva’s outlook “hints at overall demand stabilization or perhaps a H2 improvement,” UBS said. “We expect the stock to find support given the green shoots of improvement and a likely upward revision” to the consensus for free cash flow, UBS said. Veeva’s plans to subsidize service costs associated with migration to the new Vault CRM product will lessen the risk of losing customers to Salesforce (CRM), UBS said. UBS reiterated its neutral rating on Veeva’s stock and kept the price target at $235. At least six other analysts raised their price targets after Veeva reported Q4 results Thursday that topped consensus estimates. Veeva shares fell 1% in recent Friday trading.
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 remains $194 on P/E analysis. The WSJ reported today that BA is in discussions to acquire key supplier Spirit AeroSystems Holdings (SPR 33 ***). Should a deal occur, it would bring BA’s relationship with SPR full circle, since SPR was spun off from Boeing in 2005. We believe the motivation for any such deal is quality control, as an in-house SPR would likely be easier for BA management to monitor. Given the recent history of manufacturing snafus in both enterprises, as well as the Federal Aviation Administration’s requirement that BA deliver a go-forward plan to address safety deficiencies in 90 days, we think BA is turning over every stone to prevent more defects from occurring. We note possible complications for Airbus (AIR FP EUR153
CFRA Keeps Sell Opinion On Shares Of The Boeing Company Read Post »
By Eric J. Savitz Google is one of the best businesses ever built. The Alphabet unit controls more than 90% of the global internet search market, which allows the company to sell an astonishing amount of advertising, $238 billion worth in 2023 alone. But the market now fears it could all come unglued by a torrent of new competition from artificial intelligence. To be sure, it hasn’t happened yet. By one estimate, Google still accounts for 39% of the global ad market. Alphabet is the fifth-largest U.S.-listed company by market value, at $1.7 trillion, trailing only Microsoft, Apple, Nvidia, and Amazon.com. Long-term investors, meanwhile, have been more than rewarded. Had you invested $1,000 in Google shares at the August 2004 initial public offering, you’d have more than $55,000 today. But the Alphabet story is finally showing cracks. At a recent $138, shares are flat this year, trailing the 8% gain
Google Faces a Real AI Threat in Search. Why It Might Be Time to Worry. — Barrons.com Read Post »
Dell Technologies (DELL.US) is expected to benefit from strength in artificial intelligence-optimized servers and a likely refresh cycle in personal computers, UBS Securities said in a note. Late Thursday, Dell reported an AI server backlog of $2.9 billion at the end of the fiscal year, which UBS said reflected an increase from $1.6 billion at the end of last quarter. The computer maker shipped $800 million of AI-optimized servers, implying AI orders were “strong” at $2.1 billion, UBS analysts David Vogt and Andrew Spinola wrote. “While the proliferation of AI infrastructure assets is in the early innings, the solid results this quarter particularly after the soft order intake ($100 million) in the final month of last quarter should be well received by the market,” Vogt and Spinola said in the note emailed Friday. The brokerage raised its price target on Dell’s stock to $113 from $99 to reflect stronger near-term
Boeing (BA) and Spirit Aerosystems (SPR) late Friday confirmed the companies were talking about a possible merger, almost two decades after the aircraft manufacturer spun out its former components unit. “We have been working closely with Spirit AeroSystems and its leadershp to strengthen the quality of the commerical airplanes that we build together,” Boeing said in a statement. “We confirm that our collaboration has resulted in preliminary discussions about making SpiritAeroSystems a part of Boeing again.” Spirit, which builds fuselage and other parts used by Boeing and other aircraft companies, also confirmed the discussions without providing additional details. Spirit said it would not issue updates about the negotiations until “further disclosure is appropriate or required.” Spirit shares were more than 2% higher in after-hours trading, adding to a 15% advance during Friday’s regular session. The Wall Street Journal and other news outlet earlier reported the companies were discussing a potential
Boeing, Spirit Aerosystems Confirm Merger Talks, Spirit Shares Higher Read Post »
By Jacob Sonenshine The stock market just doesn’t want to go down right now, but no one should let their fear of missing out on gains override their risk management. Nothing looks like it can stop the market. The Nasdaq Composite is on pace to close at a new all-time high, up 1.6% for the week, while the S&P 500 is on pace to close the week up 0.8%, which would also be a record. The benchmark index has now risen for two consecutive weeks. We know what investors are thinking. The gains can keep coming, driven by an economy that is neither too hot nor too cold. The personal consumption expenditures price index rose 2.4% year over year in January, in line with estimates, and durable-goods orders came in lower than expected. The economy is growing, but only moderately, and the Federal Reserve can keep thinking about when it
Apple Could Take This Bull Market Down — Barron’s Read Post »
Cantor Fitzgerald analyst Louise Chen reiterates Pfizer (NYSE:PFE) with a Overweight and maintains $45 price target.
Cantor Fitzgerald analyst reiterates Pfizer (NYSE:PFE) with a Overweight Read Post »
Mizuho analyst Vijay Rakesh maintains Micron Technology (NASDAQ:MU) with a Buy and raises the price target from $100 to $105.
Mizuho analyst maintains Micron Technology (NASDAQ:MU) with a Buy Read Post »
Dell 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 the fourth quarter, Dell posted revenue of $22.3 billion, down 11% from a year earlier. The figure was within the company’s guidance of $21.5 billion to $22.5 billion, and ahead of the analysts’ consensus as tracked by FactSet of $22.2 billion. Earnings on an adjusted basis were $2.20 a share, well ahead of the street consensus of $1.73 a share and the company’s forecast for $1.70 a share. Dow Jones & Co. owns Factiva.
Dell 4Q Revenue Beats Estimates Read Post »