Morgan Stanley lowers FedEx price target from $205 to $195
Morgan Stanley analyst Ravi Shanker maintains FedEx with a Equal-Weight and lowers the price target from $205 to $195.
Morgan Stanley lowers FedEx price target from $205 to $195 Read Post »
Citigroup raises Salesforce price target from $265 to $325
Citigroup analyst Tyler Radke maintains Salesforce with a Neutral and raises the price target from $265 to $325.
Citigroup raises Salesforce price target from $265 to $325 Read Post »
CFRA Maintains Hold Opinion On Shares Of Domino’s Pizza, Inc. (NYSE:DPZ)
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 $483 from $370, 30.6x our 2024 EPS estimate, above DPZ’s five-year average forward P/E of 28.8x, reflecting better revenue growth prospects. We raise our 2024 EPS to $15.76 from $15.69 and set 2025’s at $17.58. DPZ posted Q4 EPS of $4.48 (+1.1% Y/Y), $0.08 above consensus. Revenue of $1,403M (+0.8% Y/Y) was $18M below consensus. Operating income increased 3.4% Y/Y to $257M vs. the $253M consensus, with margin widening 46 bps Y/Y to 18.3%. Same-store sales rose in the U.S. by 2.8%, but only increased 0.1% (ex-FX) internationally vs. the 3.3% consensus. In the U.S., DPZ saw growth in both carry-out and delivery transactions, while international closures, mainly in Russia and Brazil, weighed on revenue. DPZ also raised its dividend by
CFRA Maintains Hold Opinion On Shares Of Domino’s Pizza, Inc. (NYSE:DPZ) Read Post »
Salesforce Readies for Q4 With Stable Checks, Price Hikes, Undemanding Valuation, Morgan Stanley Says
Salesforce (CRM) approaches the Q4 earnings with stable checks, price hikes, and an easier bookings comp, reflecting a positive setup, “while valuation remains undemanding,” Morgan Stanley said Monday in a report. Positive performance in Sales Cloud, strong showings in Industries/MuleSoft, and underperforming Marketing defined the quarter. “Positive partner commentary on Data Cloud reaffirms our view of Salesforce’s underappreciated positioning ahead of future GenAI product adoption,” the note said. Clarity on Data Cloud and consumption pricing for Einstein 1, the company’s conversational AI assistant integrated into every Salesforce application, coupled with a higher 2025 non-GAAP EPS, positions Salesforce for growth with significant upside potential, Morgan Stanley said. Salesforce is performing in line with “Large Cap Software intra-quarter,” and maintains a valuation discount despite favorable factors. With an easier bookings comp, stable checks, and ongoing price increases, “we view Salesforce’s upcoming [fourth quarter] earnings as a likely positive catalyst for shares,” the
ARM Holdings (NASDAQ:ARM) Stock Analyst Ratings
ARM Holdings (NASDAQ:ARM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/26/2024 22.89% Rosenblatt $140 → $180 Maintains Buy 02/16/2024 -11.25% Daiwa Capital $63 → $130 Downgrades Buy → Neutral 02/09/2024 -35.14% Goldman Sachs $65 → $95 Maintains Buy 02/08/2024 -28.32% Barclays $65 → $105 Maintains Overweight 02/08/2024 -31.73% Mizuho $85 → $100 Maintains Buy 02/08/2024 -41.97% Susquehanna $48 → $85 Maintains Neutral 02/08/2024 -31.73% JP Morgan $70 → $100 Maintains Overweight 02/08/2024 -18.07% Keybanc $75 → $120 Maintains Overweight 01/16/2024 -48.8% Keybanc $65 → $75 Maintains Overweight 01/05/2024 -41.97% Mizuho $75 → $85 Maintains Buy 12/26/2023 -24.9% Rosenblatt $85 → $110 Maintains Buy 12/18/2023 -52.21% Deutsche Bank $60 → $70 Downgrades Buy → Hold 11/20/2023 -52.21% Wells Fargo → $70 Initiates Coverage On → Overweight 11/10/2023 -62.45% Morgan Stanley → $55 Initiates Coverage On → Equal-Weight 10/18/2023 -55.62% Keybanc → $65
ARM Holdings (NASDAQ:ARM) Stock Analyst Ratings Read Post »
Rosenblatt raises ARM Holdings (NASDAQ:ARM) price target from $140 to $180
Rosenblatt analyst Hans Mosesmann maintains ARM Holdings (NASDAQ:ARM) with a Buy and raises the price target from $140 to $180.
Rosenblatt raises ARM Holdings (NASDAQ:ARM) price target from $140 to $180 Read Post »
Warner Bros. Discovery (NASDAQ:WBD) Still Faces Challenges, Recover Possible, Timing Uncertain, BofA Says
Warner Bros. Discovery (WBD) continues to face challenges on multiple fronts as reflected by the recently concluded Q4, BofA Securities wrote in a note on Monday. Warner Bros Discovery late last week reported a $0.16 per share net loss for the three months ended Dec. 31, improving from a loss of $0.86 a year-ago, but still lagging the analyst consensus by $0.10. Revenue declined to $10.28 billion, also trailing the $10.42 billion estimate. The most recent quarter was riddled with challenges from a decline in the linear broadcast TV to advertisements and various strikes. BofA analysts said a variety of factors may help the company improve, including a recovering ad market and if cord-cutting hits a plateau. Internal components like increased licensing of its content and an improved film slate, among others, could also act as tailwinds. However, the company is not certain when this recovery will occur, the investment
Target Conservative Guidance Could Provide Opportunity
Target is expected to report 4Q results next week, and Oppenheimer analysts say they see more conservative guidance in 2024, which could potentially trigger selling in the stock. They recommend taking advantage of any weakness following Target’s more than 40% rally off the October lows. They say Target remains a top Oppenheimer pick and reiterate their outperform rating while raising the price target to $170 from $160. The stock sinks 1% to $150.33.
Target Conservative Guidance Could Provide Opportunity Read Post »
Domino’s Pizza’s (NYSE:DPZ) Q4 2023 Earnings Conference
The following is a summary of the Domino’s Pizza, Inc. (DPZ) Q4 2023 Earnings Call Transcript: Financial Performance: Domino’s reported positive U.S. same-store sales and transaction growth in both delivery and carryout in Q4. The company added 168 net new stores in 2023, surpassing expectations and increasing estimated average franchisee profitability per store to $162,000. Q4 global retail sales grew 4.9%, driven by positive U.S. comps and global store growth. Domino’s saw a decline of 1.6 percentage points in the U.S. company-owned store gross margin in Q4 Q4 income from operations increased by $8.4 million or 3.4%, and was up approximately 10% for the full year. The Company increased its dividend by 25% and share repurchase authorization by $1 billion. Business Progress: Domino’s grew their rewards program by 3 million active members in 2023, reaching approximately 33 million active members by the end of the year. The company executed its
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Home Depot Shares’ Upside Potential Seen Limited, RBC Says
Home Depot (HD.US) shares offer limited upside potential as investors have already factored in the prospect of lower interest rates and a recovery in the housing market, RBC Capital Markets said in a note. Noting that it will be looking for a “more attractive entry point,” the firm said the company’s current share price embeds comparable sales growth of flat to low single digits for 2024 and low- to- mid-single digits in 2025 against Home Depot’s own 2024 guidance of a 1% decline. RBC is also now estimating a 1% decline in comparable sales, widening from a 0.3% decline previously, but raised its earnings per share estimate to $15.33 from $15.32 to account for an increase in gross margin. RBC Capital maintained its sector perform rating on the stock while raising its price target to $377 from $299.
Home Depot Shares’ Upside Potential Seen Limited, RBC Says Read Post »
Amgen’s Upcoming Catalysts In 2024 Set To Unlock Multi-Billion Dollar Markets, Says Goldman Sachs
Amgen Inc (NASDAQ:AMGN) is expected to unveil updates on various programs this year, targeting significant markets. Despite concerns about the company’s long-term growth amid exclusivity losses, Goldman Sachs notes that Amgen (Buy rating, $350 price target) is seen as well-positioned to capitalize on multi-billion dollar opportunities. The current stock valuation is slightly above the base business, per the discounted cash flow model, and indicates a favorable risk-reward scenario leading up to upcoming catalysts. The upcoming catalysts include obesity, with MariTide Phase 2 data expected in late 2024. Earlier this month, Amgen had the data from animal and early-stage human trials of its experimental obesity drug AMG 133 (maridebart cafraglutide) published in Nature Metabolism. The Journal confirmed the GIPR antagonist and GLP-1R agonist activities in cell-based systems and reported the ability of AMG 133 to reduce body weight and improve metabolic markers in male obese mice and cynomolgus monkeys. The management has
American Express Seeing an Ease in Small Business Spending
American Express says small businesses are showing signs of moderation as consumer spending remains strong. CFO Christophe Le Caillec says at the UBS Financial Services Forum that tenured small-business customers have been spending less, which is dampening the company’s growth rates. Still, consumers are “doing what they do best, which is to consume,” Le Caillec says. He notes strong demand for new cards from consumers and strong spending growth, with the caveat that American Express’s customers may not be representative of the entire U.S. economy. Shares rise 0.9% to $216.52.
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