Starbucks Shares Under Pressure as H1 Same Store Sales Growth Softens, Wedbush Says

/ / Consumer Discretionary /

Starbucks’ (SBUX) soft same store sales growth in H1 may continue to put pressure on the company’s shares until there is improved visibility in H2, Wedbush said in a note Thursday. Wedbush said it believes that the company’s current valuation aligns with the lower end of management’s long-term targets, considering company-specific factors, on one hand, and “declining visibility into the impact of macro headwinds on near- and medium-term U.S. and International SSS growth rates,” on the other. Same store sales growth for fiscal Q1 is likely to be slightly below to in-line with consensus of 6.2%, the note said. Wedbush lowered its estimate for fiscal Q1 Americas SSS growth to 5% from 6%, and also lowered fiscal-year 2024 Americas SSS growth estimate to 5.3% from 5.5%, the note said. The firm maintained Starbucks’ operating margin estimate for 2024 at 16.9%, which is slightly below the consensus of 17%, and also […]

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Netflix Set to See Growth in Q4, 2024 as Industry Raises Prices, Focuses on Licensing, UBS Says

/ / Consumer Discretionary /

Netflix (NFLX) is set to see growth in Q4 and 2024 since it benefits the most as the industry raises prices, consolidates platforms, reduces spending, and focuses on licensing, UBS said in a note emailed Thursday. Netflix is set to report its Q4 results on Jan. 23. Analysts, including John Hodulik, expect Q4 subscription growth of 9 million subscribers, largely in line with the previous quarter’s 8.8 million users. Guidance for Q1 is set to indicate continued growth, although subscribers are expected to be seasonally softer, but better year over year. The analysts predict the Q4 average revenue per user, or ARPU, to stay the same due to limited price increases, but expect 2024 ARPU growth to speed up from likely new price increases and accumulated benefits from paid sharing. The investment firm said that their estimate assumes Netflix will prioritize pricing in 2024, after focusing on paid sharing in

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Procter & Gamble (NYSE:PG) Stock Analyst Ratings

/ / Consumer Staples /

Procter & Gamble (NYSE:PG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 9.48% JP Morgan $169 → $162 Maintains Overweight 01/16/2024 8.13% Barclays $164 → $160 Maintains Overweight 11/13/2023 19.62% Jefferies → $177 Initiates Coverage On → Buy 10/20/2023 4.75% DZ Bank → $155 Upgrades Sell → Hold 10/19/2023 9.48% Wells Fargo $160 → $162 Maintains Overweight 10/19/2023 4.75% Stifel $151 → $155 Maintains Hold 10/16/2023 2.05% Stifel $161 → $151 Maintains Hold 10/12/2023 4.08% Barclays $166 → $154 Maintains Overweight 10/12/2023 14.21% JP Morgan $172 → $169 Maintains Overweight 10/12/2023 3.4% Bernstein $162 → $153 Maintains Market Perform 09/22/2023 20.97% HSBC → $179 Initiates Coverage On → Buy 09/08/2023 — William Blair Initiates Coverage On → Market Perform 08/01/2023 17.59% Morgan Stanley $174 → $174 Reiterates Overweight → Overweight 08/01/2023 18.27% B of A Securities $170 → $175 Maintains Buy

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Goldman Sachs CEO David Solomon At Davos: ‘Hard For Me To See’ 7 Rate Cuts This Year

/ / Financials /

Goldman Sachs Group, Inc. (NYSE:GS) CEO David Solomon believes the market is being overly-optimistic about potential rate cuts in 2024. Solomon shared his more conservative Federal Reserve rate outlook Wednesday at the World Economic Forum in Davos, Switzerland. What Happened: The market is currently anticipating seven rate cuts this year, but Wednesday on CNBC’s “Squawk Box,” Solomon reminded investors that Fed Chair Jerome Powell has said the central bank will make future rate decisions based on current inflation trends and other economic data. “It’s hard for me to see the market’s view of seven cuts, you know, this year,” the Goldman Sachs CEO said. Solomon explained that although he sees a path toward some rate cuts and easing this year, the chance of rate cuts is smaller than it seemed to be six months ago. “I see some signs of softness which would lead you to believe that we are going to see some cuts, but

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TSMC’s Shares Rise Sharply After It Projects Strong Growth This Year

/ / Technology /

By Kosaku Narioka Taiwan Semiconductor Manufacturing Co.’s shares rose sharply after the company projected strong revenue growth this year following a sales slump in 2023. The shares were recently 4.6% higher at 615.00 New Taiwan dollars after rising as much as 6.3% earlier Friday morning. TSMC Chief Executive C.C. Wei said Thursday following the announcement of fourth-quarter results that revenue is poised to rise more than 20% in U.S. dollar terms this year. Wei named artificial intelligence as the company’s growth driver, saying AI-related revenue is expected to account for nearly one-fifth of the company’s total revenue within a few years. Revenue dropped 8.7% in 2023 to US$69.30 billion. The chip maker has been facing a sales slump as clients cut back on their inventory following a pandemic-driven surge in demand for chips used in electronics equipment. TSMC said net profit dropped 19% from a year earlier to 238.71 billion

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CFRA Maintains Buy Opinion On Shares Of Meta Platforms Inc.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target price to $430 from $390, on a P/E of 20.8x our 2025 EPS view, near META’s five-year historical forward average. We keep our 2024 EPS estimate at $17.52 and 2025’s at $20.69. Ahead of Dec-Q results set for 2/1, we project ad revenue grew 20%-21% in Q4 and see mid-teens growth for 2024. Greater traction from China vendors, easy comps in the 1H, as well as a very important 2024 election and the Summer Olympics, are all reasons that 2024 could be another good year for digital ad spend. Although we expect META’s growth trajectory to decelerate as we progress through 2024, we think its attractive valuation, coupled with healthy digital ad market and AI prospects, offer a compelling investment opportunity (despite

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Roku, Inc. (NASDAQ: ROKU) Stock Analyst Ratings

/ / Telecommunications /

Roku, Inc. (NASDAQ: ROKU) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 — Seaport Global Upgrades Sell → Neutral 12/18/2023 -12.05% Seaport Global → $75 Downgrades Neutral → Sell 12/15/2023 -22.61% MoffettNathanson $64 → $66 Downgrades Neutral → Sell 11/27/2023 36.02% Cannonball Research → $116 Upgrades Neutral → Buy 11/02/2023 17.26% Susquehanna $95 → $100 Maintains Positive 11/02/2023 -12.05% Pivotal Research $58 → $75 Upgrades Sell → Hold 10/31/2023 -35.51% MoffettNathanson → $55 Upgrades Sell → Neutral 10/23/2023 -17.92% Truist Securities $80 → $70 Maintains Hold 10/11/2023 -5.02% Piper Sandler $90 → $81 Maintains Neutral 10/06/2023 — Seaport Global Initiates Coverage On → Neutral 09/28/2023 -8.54% Citigroup $100 → $78 Maintains Neutral 09/27/2023 — Raymond James Reinstates → Market Perform 09/07/2023 17.26% JP Morgan $95 → $100 Maintains Overweight 09/07/2023 19.61% DA Davidson $100 → $102 Maintains Buy 09/07/2023 17.26% Wedbush

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Irobot Stock Plunges As Its Takeover By Amazon Likely Is Dead — Barrons.com

/ / Consumer Discretionary /

By Adam Clark Amazon’s $1.4 billion deal for Roomba-maker iRobot looks set to be blocked by European Union antitrust authorities. It’s only a small setback for the e-commerce giant but it’s a reminder that regulators are still skeptical over acquisitions made by big technology companies. Officials from the European Commission, the EU’s executive body, told Amazon at a meeting Thursday that the iRobot deal was likely to be rejected, The Wall Street Journal  reported, citing people familiar with the matter. Amazon and the European Commission both declined to comment on the report. iRobot shares were down 36% in premarket trading at $15.01 while Amazon shares were up 0.6%. Amazon struck a $61-a-share deal for iRobot in August 2022, a price that was later reduced to $51.75 a share. The acquisition would have extended Amazon’s line up of smart products, which include the Alexa virtual assistant, Ring doorbells, and Smart thermostats.

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Texas Instruments (NASDAQ:TXN) Stock Analyst Ratings

/ / Technology /

Texas Instruments (NASDAQ:TXN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 14.07% UBS $170 → $195 Upgrades Neutral → Buy 01/16/2024 -6.41% Barclays $165 → $160 Maintains Equal-Weight 12/14/2023 -9.92% Truist Securities $150 → $154 Maintains Hold 11/15/2023 22.84% Benchmark → $210 Reiterates Buy → Buy 10/25/2023 -6.41% B of A Securities → $160 Maintains Neutral 10/25/2023 -6.41% Stifel $180 → $160 Maintains Hold 10/25/2023 14.07% BMO Capital → $195 Maintains Outperform 10/25/2023 -23.95% Baird $180 → $130 Maintains Neutral 10/25/2023 -16.93% Citigroup $182 → $142 Maintains Neutral 10/25/2023 -0.56% JP Morgan $200 → $170 Maintains Overweight 10/25/2023 -12.26% Truist Securities $165 → $150 Maintains Hold 10/25/2023 -6.41% Mizuho $181 → $160 Maintains Neutral 10/25/2023 5.29% Susquehanna $185 → $180 Maintains Positive 10/25/2023 -3.48% Barclays $175 → $165 Maintains Equal-Weight 10/25/2023 22.84% Benchmark → $210 Reiterates Buy → Buy 10/25/2023 -19.86%

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Blackstone (NYSE:BX) Stock Analyst Ratings

/ / Financials /

Blackstone (NYSE:BX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 6.44% Citigroup $116 → $124 Downgrades Buy → Neutral 01/11/2024 — Oppenheimer Downgrades Outperform → Perform 01/04/2024 1.29% TD Cowen → $118 Initiates Coverage On → Market Perform 01/03/2024 9.87% Goldman Sachs → $128 Downgrades Buy → Neutral 12/20/2023 28.76% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -9.87% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -3% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023 -19.31% BMO Capital $97 → $94 Maintains Market Perform 10/20/2023 3% Morgan Stanley $125 → $120 Maintains Overweight 10/10/2023 -0.43% Barclays $110 → $116 Maintains Equal-Weight 10/06/2023 -3% HSBC → $113 Initiates Coverage On → Hold 09/05/2023 7.3% Morgan Stanley $125 → $125 Reiterates Overweight → Overweight 07/24/2023 -3.86% Goldman Sachs $98 → $112 Maintains Buy 07/21/2023 0.43% Oppenheimer $115 → $117 Maintains Outperform 07/21/2023 7.3%

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