CFRA Reiterates Hold Opinion On Shares Of Blackstone Inc.

/ / Financials /

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 target $28 to $135 on a forward P/E of 25.7x, above the three-year historic average at 22.0x given the macro outlook positioned for lower rates. With real estate still a drag on the ’24 outlook, we cut our ’24 EPS by $0.45 to $5.25 and set ’25’s at $6.35. BX posted Q4 24 EPS of $1.11, a $0.10 consensus beat. For industry-realized financial metrics, performance revenues were +47% in Q4 (-54% in ’23), net realizations +16% (-58%), and distributable earnings +4% (-24%). Investment performance in ’23 was best in Private Credit (+16.4%), Liquid Credit (+13.0%), Infrastructure (+12.1%), and Corporate Private Equity (+12.1%), while Real Estate areas were -6.3% in Opportunistic and -4.3% in Core+ funds. Fund net inflows were +$23B in Q4 (+$149B in […]

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RTX’s Pratt & Whitney Fixing Affected Engines Faster, Raytheon Could See Turnaround in 2025, BofA Says

/ / Industrials /

RTX’s (RTX) Pratt & Whitney unit is delivering new full-life disks ahead of expectations and fixing impacted engines faster, while the Raytheon business is likely poised for a turnaround in 2025, BofA Securities said in a note Thursday. BofA analysts, including Ronald Epstein, took note of better-than-projected execution in servicing contaminated powder-metal discs in geared turbo fan aircraft engines. Pratt & Whitney is fixing affected engines faster to avoid a peak of 650 jets on the ground, according to the analysts. The company’s Collins Aerospace subsidiary continues to take advantage of higher aftermarket demand and a recovery in wide-body flight volume, while Raytheon’s recent restructuring and management changes “give us more confidence in a turnaround of that business in 2025,” the analysts said. The brokerage upgraded its rating on the aerospace and defense contractor’s stock to neutral from underperform and raised its price objective to $100 from $78.

RTX’s Pratt & Whitney Fixing Affected Engines Faster, Raytheon Could See Turnaround in 2025, BofA Says Read Post »

General Dynamics (NYSE:GD) Stock Analyst Ratings

/ / Industrials /

General Dynamics (NYSE:GD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 14.1% RBC Capital → $300 Reiterates Outperform → Outperform 10/26/2023 8.39% Susquehanna $270 → $285 Maintains Positive 10/26/2023 0.41% Wells Fargo $243 → $264 Maintains Overweight 10/11/2023 0.79% UBS → $265 Initiates Coverage On → Neutral 09/28/2023 3.07% Deutsche Bank → $271 Initiates Coverage On → Buy 09/26/2023 -1.88% Berenberg $254 → $258 Maintains Market Perform 09/25/2023 2.69% Susquehanna → $270 Reiterates Positive → Positive 09/19/2023 7.63% Citigroup $283 → $283 Maintains Buy 09/18/2023 -7.58% Wells Fargo $258 → $243 Maintains Overweight 07/28/2023 -1.88% Wells Fargo $244 → $258 Maintains Overweight 07/27/2023 -4.92% Morgan Stanley $248 → $250 Maintains Equal-Weight 07/27/2023 2.69% RBC Capital → $270 Reiterates Outperform → Outperform 07/27/2023 -4.54% JP Morgan $245 → $251 Maintains Overweight 04/27/2023 2.69% RBC Capital $280 → $270 Maintains Outperform 04/27/2023 -4.54%

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IBM Poised for Strong Revenue Growth Through 2025, BofA Securities Says

/ / Technology /

IBM (IBM) issued 2024 guidance that topped expectations by analysts and teased a mainframe launch in 2025, setting the company up for strong revenue growth in the next two years, BofA Securities said in a reported dated Wednesday. The company on Wednesday estimated $12 billion in 2024 free cash flow amid increased profitability and reduced cash requirements from changes to its retirement plans, and IBM can deliver almost $13 billion in free cash flow in 2025, given the strong trajectory, BofA said. IBM’s software business probably will reaccelerate this year, and productivity improvements are poised support the company’s margins and cash flow, BofA said. IBM on Wednesday reported Q4 non-GAAP diluted earnings and revenue that topped estimates by analysts. BofA reiterated its buy rating on IBM and raised its price target to $200 from $170. Shares of IBM jumped 13% in recent Thursday trading.

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Tesla Likely to See ‘Challenging’ 2024 for Global Auto Industry, ‘Material’ Decline in Profitability, Morgan Stanley Says

/ / Consumer Discretionary /

Tesla (TSLA) is expected to see a “challenging” 2024 for the global auto industry and a “material” decline in the automaker’s profitability toward the non-GAAP earnings per share of $2, Morgan Stanley said in an emailed note to clients on Thursday. For its 2024 outlook, the company said its volume growth would be “notably lower” than last year’s 38% growth but did not include any volume ranges or any discussion of tailwinds or headwinds concerning gross margin, operating expense and capital expenditure, according to the note. Tesla’s guidance for 2024 reflects a slowing electric vehicle market, an uncertain economic and regulatory environment in addition to political events and China consumer slowdown, and a potential continued rise in costs in developing the next generation product, Morgan Stanley said. “For Tesla shares to perform from here, investors must expect FY24 to be a trough year for auto profitability, must have increased confidence

Tesla Likely to See ‘Challenging’ 2024 for Global Auto Industry, ‘Material’ Decline in Profitability, Morgan Stanley Says Read Post »

Intuitive Surgical (NASDAQ:ISRG) Stock Analyst Ratings

/ / Health Care /

Intuitive Surgical (NASDAQ:ISRG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 4.76% Mizuho $350 → $390 Maintains Neutral 01/25/2024 15.5% Barclays $385 → $430 Maintains Overweight 01/25/2024 16.84% Raymond James $372 → $435 Maintains Outperform 01/24/2024 16.04% RBC Capital $400 → $432 Maintains Outperform 01/24/2024 12.82% Stifel $360 → $420 Maintains Buy 01/24/2024 16.84% Truist Securities $390 → $435 Maintains Buy 01/24/2024 14.16% Piper Sandler $325 → $425 Maintains Overweight 01/19/2024 11.74% Wells Fargo $363 → $416 Maintains Overweight 01/12/2024 7.44% RBC Capital $380 → $400 Maintains Outperform 01/03/2024 -0.08% Raymond James $310 → $372 Maintains Outperform 12/22/2023 4.76% Truist Securities $375 → $390 Maintains Buy 12/12/2023 0.73% Truist Securities $320 → $375 Maintains Buy 12/04/2023 -11.36% Morgan Stanley $300 → $330 Maintains Equal-Weight 11/17/2023 -5.99% Stifel $315 → $350 Maintains Buy 11/17/2023 -14.58% HSBC → $318 Initiates Coverage On →

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Comcast (CMCSA) Q4 2023 Earnings Call Transcript Summary

/ / Telecommunications /

The following is a summary of the Comcast (CMCSA) Q4 2023 Earnings Call Transcript: Financial Performance: Comcast reported total Q4 2023 revenue of $31.3 billion, marking a 2% increase. Full-year revenue remained stable at $121.6 billion. Adjusted EBITDA for Q4 held constant at $8 billion, with a full-year increase of 3% reaching $37.6 billion. Adjusted EPS for Q4 rose by 2% to $0.84 per share with a full-year increase of 9% to $3.98. The company generated a notable Q4 free cash flow of $1.7 billion, culminating in a full-year figure of $13 billion; this equates to a 10% YoY increase in free cash flow per share ($3.13). For Q4 and the full year, Comcast returned its free cash flow to shareholders in its entirety, mounting to $4.7 billion and $15.8 billion respectively. Business Progress: Growth was primarily driven by residential broadband, wireless, business services connectivity, theme parks, streaming, and premium

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Southwest Airlines 4Q Rev Rises; Sees Higher Costs This Year

/ / Consumer Discretionary /

Southwest Airlines is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Southwest had a loss of $219 million, or 37 cents a share, in the fourth quarter. Revenue rose almost 11% to $6.82 billion, above the $6.75 billion analysts expected, according to Factset. Adjusted earnings were 37 cents a share, well above analysts’ expectations for 12 cents a share. Southwest said it plans to increase flying capacity by about 10% in the first three months of 2024, and about 6% for the full year. It expects non-fuel costs to rise 6% to 7% in 2024. Southwest flight attendants on Tuesday voted to authorize a strike, their union said, after members rejected a tentative agreement last month.

Southwest Airlines 4Q Rev Rises; Sees Higher Costs This Year Read Post »

Accenture (NYSE:ACN) Stock Analyst Ratings

/ / Industrials /

Accenture (NYSE:ACN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 7.67% UBS $365 → $400 Maintains Neutral 01/24/2024 7.67% Morgan Stanley $369 → $400 Maintains Overweight 12/20/2023 3.63% BMO Capital $350 → $385 Maintains Market Perform 12/20/2023 -1.75% UBS $333 → $365 Maintains Neutral 12/14/2023 -3.1% Wedbush $330 → $360 Maintains Outperform 11/16/2023 10.36% Redburn Atlantic → $410 Initiates Coverage On → Buy 11/07/2023 -10.37% UBS → $333 Initiates Coverage On → Neutral 09/29/2023 -8.48% RBC Capital → $340 Reiterates Outperform → Outperform 09/29/2023 -5.79% BMO Capital $360 → $350 Maintains Market Perform 09/29/2023 -19.25% TD Cowen $312 → $300 Maintains Market Perform 09/29/2023 -13.33% Baird $332 → $322 Maintains Neutral 09/29/2023 -19.25% Piper Sandler $312 → $300 Maintains Neutral 09/27/2023 -3.1% BMO Capital $355 → $360 Maintains Market Perform 09/26/2023 -11.18% Wedbush → $330 Reiterates Outperform → Outperform 09/22/2023 -16.02%

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Advanced Micro Devices (NASDAQ:AMD) Stock Analyst Ratings

/ / Technology /

Advanced Micro Devices (NASDAQ:AMD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 22.79% UBS $135 → $220 Maintains Buy 01/24/2024 20% New Street Research → $215 Upgrades Neutral → Buy 01/23/2024 6.04% Cantor Fitzgerald → $190 Initiates Coverage On → Overweight 01/22/2024 — Northland Capital Markets Downgrades Outperform → Market Perform 01/19/2024 6.04% Raymond James $140 → $190 Maintains Strong Buy 01/16/2024 11.63% Barclays $120 → $200 Maintains Overweight 01/16/2024 8.83% Keybanc $170 → $195 Maintains Overweight 01/08/2024 4.93% Melius Research → $188 Upgrades Hold → Buy 01/05/2024 -9.58% Mizuho $130 → $162 Maintains Buy 01/04/2024 -5.12% Keybanc $140 → $170 Maintains Overweight 12/18/2023 -12.37% Goldman Sachs $137 → $157 Maintains Buy 12/15/2023 -7.91% B of A Securities → $165 Upgrades Neutral → Buy 12/07/2023 11.63% Rosenblatt → $200 Reiterates Outperform → Outperform 12/07/2023 -19.07% Stifel → $145 Reiterates Buy →

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