CFRA Maintains Buy Opinion On Shares Of Eli Lilly And Company

/ / Health Care /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Following LLY’s solid Q4 earnings release this morning, we lift our target price by $86 to $788, 50.9x our projected 2025 EPS, above LLY’s historical forward P/E average, justified by LLY’s strong revenue and earnings growth potential. We raise our 2024 EPS estimate by $0.23 to $12.40, which points to 96% Y/Y growth. We initiate our 2025 view at $15.47. LLY posted Q4 EPS of $2.49 vs. $2.09, a noteworthy +19% Y/Y, $0.12 above the consensus. Q4 revenues of $9.4B, up 28% Y/Y, came in $152M above our estimate and $383M above consensus, driven by higher-than-expected sales for the obesity treatments Mounjaro ($2.2B) and the newly launched Zepbound ($176M). We expect 2024 to be another year of strong growth and pencil in a 19% Y/Y top-line sales […]

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CFRA Keeps Buy Recommendation On Shares Of Fiserv, Inc.

/ / Industrials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our unchanged 12-month target price of $160, 16.1x our 2025 EPS estimate, discounts FI’s three-year average of 17.4x, merited given the mixed Q4 bag. Strong organic revenue guidance for 2024 (15%-17%) and Q4 Merchant Acceptance growth took a backseat to Fintech declines (-3% Y/Y). We lift our 2024 EPS view to $8.65 from $8.60 and set 2025’s at $9.95. Revenue came in at $4.64B (+6% Y/Y), missing consensus of $4.68B, while Q4 adj-EPS of $2.19 edged out consensus by $0.04. Clover posted an encouraging 30% Y/Y revenue increase as VAS penetration spiked to 19% (vs. 16% Y/Y), boosting transaction yields by 17% ($271B in annualized GPV) and driving a 14% revenue rise for Merchant Acceptance. Adj-operating margin expanded 150 bps in Q4 (40.7%) and 220 bps in

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UBS Group AG (NYSE:UBS) Q4 2023 Earnings Conference

/ / Financials /

The following is a summary of the UBS Group AG (UBS) Q4 2023 Earnings Call Transcript: Financial Performance: UBS reported Q4 profit before tax of $592 million and a net loss of $279 million, primarily due to lower client activity. Revenues decreased by 3% to $10.4 billion, and operating expenses increased 1% to $9.7 billion. UBS achieved $22 billion in net new assets in the Global Wealth Management sector in Q4. The CET1 capital ratio increased to 14.5% and the total loss-absorbing capacity amounts to $200 billion. An increase of 27% YoY is planned for the ordinary dividend for the 2023 financial year, rising to $0.70. Stock buy-backs are expected to resume with a target of up to $1 billion in 2024. The long-term goal is to achieve a 15% return on CET1 capital and a cost-income ratio of less than 70% by the end of 2026. Business Progress: The

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McDonald’s Soft Start, ‘Cautious Tone’ Weighing on Shares, RBC Says

/ / Consumer Discretionary /

McDonald’s (MCD) Q4 results indicated a soft start to the year, with a somewhat “cautious tone” seen weighing on its shares, RBC Capital Markets said in a Monday note. “Near-term, we see continued focus on domestic trends as the likely driver of MCD share performance, particularly in a more value-conscious operating environment,” said RBC analysts Christopher Carril and Khadijah Gibson. “Longer-term, we continue to see MCD as well-positioned across areas of increasing focus, including loyalty, menu and digital.” Looking ahead to 2024, the analysts said they adjusted estimates modestly lower, with EPS to $12.44 from $12.66, but adding that there could be potential earnings upside from easing margin pressures. RBC cut its price target to $335 from $340 while retaining its outperform rating.

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Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings

/ / Consumer Discretionary /

Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/06/2024 7.59% JMP Securities $62 → $75 Maintains Market Outperform 02/06/2024 13.33% Keybanc $70 → $79 Maintains Overweight 01/30/2024 4.72% B of A Securities $68 → $73 Maintains Buy 01/26/2024 -2.45% Truist Securities $58 → $68 Maintains Buy 01/24/2024 -5.32% Gordon Haskett → $66 Downgrades Buy → Hold 01/22/2024 1.85% Needham $63 → $71 Maintains Buy 01/17/2024 10.46% Mizuho $63 → $77 Maintains Buy 01/16/2024 -9.63% Needham → $63 Reiterates Buy → Buy 01/12/2024 11.89% Goldman Sachs $59 → $78 Maintains Buy 01/11/2024 11.89% Goldman Sachs $59 → $78 Maintains Buy 01/09/2024 -1.02% BMO Capital → $69 Initiates Coverage On → Outperform 12/29/2023 -11.06% Nomura $59 → $62 Downgrades Buy → Neutral 12/19/2023 0.42% Keybanc $61 → $70 Maintains Overweight 12/04/2023 7.59% Oppenheimer $65 → $75 Maintains Outperform 12/01/2023 -11.06%

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Buy Broadcom Stock, J.P. Morgan Says. It’s the Biggest AI Chip Play After Nvidia. — Barrons.com

/ / Technology /

By Tae Kim Broadcom stock offers an attractive opportunity, thanks to soaring demand for artificial-intelligence semiconductors, according to J.P. Morgan. On Tuesday, analyst Harlan Sur re-initiated coverage on Broadcom with an Overweight rating and a $1,550 price target, citing the chip maker’s leadership position in AI-related products. “We are particularly constructive on the cloud datacenter end market, with Broadcom’s leadership in switching/routing, its custom chip (ASIC) opportunities across datacenter and artificial intelligence opportunities,” he wrote. Broadcom stock fell 0.8% to $1,223.23 in early trading Tuesday. The chip maker is the leading player in the high-end AI ASIC — application specific integrated circuits — market. Broadcom helps large companies, such as Alphabet’s Google unit, design custom chips for AI, called TPUs or Tensor Processing Units. He cited Meta Platforms and Microsoft as other key customers. Sur estimates Broadcom will generate $8 billion to $9 billion in AI revenue this year, primarily

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Estee Lauder’s Restructuring Plan Positioned Company to Be ‘More Competitive,’ RBC Says

/ / Consumer Discretionary /

Estee Lauder (EL) is positioned to be a “more competitive enterprise” with its restructuring plan, RBC Capital Markets said in a note to clients Tuesday. Estee Lauder on Monday announced a two-year restructuring program to generate $350 million to $500 million in annual gross benefits as part of its profit recovery plan. The restructuring includes a 3% to 5% reduction of its workforce globally. “We see [the restructuring plan] as a constructive step in the right direction, but remain on the sidelines until we see evidence that [Estee Lauder] is executing on its plan,” said RBC analysts. The investment firm raised its price target on Estee Lauder to $131 from $115 given increased profitability estimates tied to the profit recovery plan, and kept its sector perform rating. The company said Monday it forecasts incremental operating profit of $1.1 billion to $1.4 billion, an increase from the prior $800 million to

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FAA Administrator Says Has Not Determined How It Will Define Process To Allow Boeing To Eventually Increase 737 Production

/ / Industrials /

FAA Administrator Says Has Not Determined How It Will Define Process To Allow Boeing To Eventually Increase 737 Production; Says It Must First Complete Audit And “Down The Road” Will Gauge What That Means For Boeing Increasing 737 Production.

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Fiserv, Inc. (NYSE: FI) Q4 2023 Earnings Conference

/ / Industrials /

The following is a summary of the Fiserv, Inc. (FI) Q4 2023 Earnings Call Transcript: Financial Performance: Fiserv recorded a successful 2023 with an organic revenue growth of 12%, over 200 basis points of adjusted operating margin expansion, and 16% growth in adjusted earnings per share generating free cash flow of $4 billion. In Q4 2023, adjusted revenue growth of 6% to $4.6 billion, with an adjusted operating income growth of 10% to $1.9 billion, leading to an adjusted operating margin of 40.7%. For the full year 2023, the adjusted operating margin rose to 37.3% with Fiserv’s adjusted EPS increasing 16% to $7.52. Decreased its debt to adjusted EBITDA ratio to 2.7 times, within the company’s targeted leverage range. For 2024, projects an adjusted EPS of $8.55 to $8.70, indicating 14%-16% growth over 2023 and anticipates organic revenue growth of 15% to 17%. Business Progress: Progress was reported in Merchant

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Gartner (NYSE:IT) Q4 2023 Earnings Conference

/ / Technology /

The following is a summary of the Gartner, Inc.  (NYSE:IT)  Q4 2023 Earnings Call Transcript: Financial Performance: Gartner Q4 revenue rose by 5% year-over-year to $1.6 billion, with an EBITDA of $386 million attributed to disciplined cost management. For the full year 2023, the firm observed an 8% hike in global contract value and consolidated revenue, reaching an EBITDA of $1.5 billion and free cash flow of $1.1 billion. The firm’s 2024 financial guidance anticipate a research revenue of at least $5.15 billion, conference revenue of $560 million minimum and consulting revenue no less than $530 million. Research revenue had a 6% year-over-year in Q4, while subscription revenue saw an 8% organic growth, making up more than 75% of their consolidated global revenue in 2023. Business Progress: Research contribution margin was 74% for Q4, consistent with previous year; Global Technology Sales contract value and Global Business Sales contract value increased

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Estee Lauder Seen Moving in Right Direction

/ / Consumer Discretionary /

Estee Lauder’s restructuring efforts will help the beauty giant meet or even exceed its new guidance, which remains conservative, JPMorgan analysts say in a research note. There is evidence that demand trends have worsened sequentially in Mainland China, but consumption has been outpacing shipments as retailers take their inventories down, analysts add. JPMorgan raises its target price to $167 from $150 previously to reflect the new guidance, innovation prospects, details on the most recent trends across regions, and raised profit recovery plan. Shares drop 2.4% to $146.76.

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