JPMorgan Chase Stock Can Move Even Higher. Here’s Why. — Barrons.com

/ / Financials /

These reports, excerpted and edited by Barron’s, were issued recently by investment and research firms. The reports are a sampling of analysts’ thinking; they should not be considered the views or recommendations of Barron’s. Some of the reports’ issuers have provided, or hope to provide, investment-banking or other services to the companies being analyzed. Crocs — CROX-Nasdaq Strong Buy — Price $104.03 on Jan. 9 by Raymond James Crocs preannounced better-than-expected fourth-quarter results and provided new 2024 guidance that was in line with Street revenue estimates. We also hosted a group meeting with management, including CEO Andrew Rees, CFO Anne Mehlman, and SVP of Investor Relations/Strategy Erinn Murphy. The Crocs brand (75% of revenue) has momentum and we think can deliver in-line to better-than-guided growth in 2024 on strong brand heat, new innovation, and international strength, especially in Asia. [Shoe line] Heydude’s growth in the fourth quarter was less-bad-than-expected, giving […]

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The Trader: The Case for a FedEx Rebound — Barron’s

/ / Industrials /

By Jacob Sonenshine FedEx stock has been hit hard in recent weeks, but the worst of the company’s problems are likely over. It’s time to buy. Last year ended on a low note for FedEx, whose stock has dropped 11%, to $250, since Dec. 19. On that date, the company said its fiscal 2024 sales would fall at a low single-digit rate, down from its previous guidance for flat growth. Management blamed the miss on a decline in the number of shipments, which was partially offset by rising prices. It wasn’t all bad, though. While sales guidance came down, management maintained its profit outlook, calling for per share earnings to come in at $17.75 at the midpoint of its range for the year. FedEx is overhauling its cost structure for calendar year 2024, and analysts expect an operating margin of 7.5%, up from this year’s 6.5%. “[FedEx deserves] the benefit

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We Built a Better Magnificent 7. Apple And Tesla Are Out. — Barron’s

/ / Technology /

Adding finance and healthcare names and paring back on tech and communication services should make for a steadier performance. By Nicholas Jasinski The Magnificent Seven had an extraordinary year in 2023 — one that will be very difficult to repeat. And there will be a new Magnificent Seven in 2024. Alphabet, Amazon.com, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla certainly earned the moniker last year. The seven largest stocks by market value in the S&P 500 each returned 49% or more in 2023 and were responsible for the bulk of the index’s gains. Similar returns in 2024 are unlikely. For one thing, this is the first time the seven largest stocks have posted such returns since at least 1999, suggesting a reversion to the mean may lie ahead. What’s more, just once in that time span have the same seven stocks remained the largest in the index over consecutive years.

We Built a Better Magnificent 7. Apple And Tesla Are Out. — Barron’s Read Post »

Cloudflare CEO Says Viral Firing Video Is ‘Painful’: ‘We Were Far From Perfect… We Don’t Always Get It Right’

/ / Technology /

Cloudflare Inc. (NYSE:NET) CEO Matthew Prince has admitted that a viral video of an employee being fired is “painful for me to watch,” but maintained that the decision to fire the said employee was not the mistake in this case. What Happened: Responding to a post by Bloom Institute‘s co-founder Austen Allred, Prince went into a little more detail about what went wrong with the employee who recorded herself being laid off. Viewers of the 9-minute video posted by former Cloudflare employee Brittany Pietsch have called it “horrendous” and that there is a “culture or senior leadership problem” at Cloudflare. “The video is painful for me to watch. Managers should always be involved. HR should be involved, but it shouldn’t be outsourced to them, no employee should ever actually be surprised they weren’t performing,” Prince said. We fired ~40 sales people out of over 1,500 in our go to market org. That’s a normal quarter. When

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Mastercard’s Stock Upgrade Backed by a High Growth Estimate and Incredible Long-term Success

/ / Industrials /

By Philip van Doorn Oppenheimer analyst Dominick Gabriele sees 19% upside for the stock over the next 18 months On Wednesday, Oppenheimer & Co. analyst Dominick Gabriele upgraded Mastercard Inc. to an “outperform” rating with a 12-18 month price target of $510, which was 19% higher than the stock’s closing price of $428.27 that day. In a note to clients, Gabriele wrote that there was some concern over his estimated annual earnings-per-share growth rate of 17% for Mastercard (MA) over the next three to five years, because this was slower than the growth pace before the COVID-19 pandemic. But he concluded that the expected profit growth pace was “good enough” to support his price target. EPS growth Looking back, Mastercard’s EPS increased at a compound-annual-growth rate (CAGR) of 29.1% for the three-year period ending 2019. That was an incredible pace for earnings growth, compared with a three-year EPS CAGR of

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Lululemon Athletica (NASDAQ:LULU) stock Analyst Ratings

/ / Consumer Discretionary /

Lululemon Athletica (NASDAQ:LULU) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 17.6% Keybanc $500 → $570 Maintains Overweight 01/10/2024 7.29% Raymond James $495 → $520 Maintains Outperform 01/09/2024 15.75% Truist Securities $555 → $561 Maintains Buy 12/14/2023 22.97% Stifel $529 → $596 Maintains Buy 12/13/2023 13.48% Telsey Advisory Group $520 → $550 Maintains Outperform 12/08/2023 -15.82% BMO Capital $376 → $408 Maintains Market Perform 12/08/2023 8.73% Truist Securities $500 → $527 Maintains Buy 12/08/2023 -7.16% Wells Fargo $445 → $450 Maintains Equal-Weight 12/08/2023 12.65% TD Cowen $545 → $546 Maintains Outperform 12/08/2023 3.57% Deutsche Bank $500 → $502 Maintains Buy 12/08/2023 -3.03% UBS $429 → $470 Maintains Neutral 12/08/2023 3.16% JP Morgan $489 → $500 Maintains Overweight 12/08/2023 -17.47% Bernstein $366 → $400 Maintains Market Perform 12/08/2023 1.72% Morgan Stanley $437 → $493 Maintains Overweight 12/08/2023 3.16% Keybanc $450 → $500

Lululemon Athletica (NASDAQ:LULU) stock Analyst Ratings Read Post »

Snowflake (NYSE:SNOW) stock Analyst Ratings

/ / Technology /

Snowflake (NYSE:SNOW) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 3.07% Barclays → $198 Downgrades Overweight → Equal-Weight 01/08/2024 17.13% Needham → $225 Reiterates Buy → Buy 01/05/2024 19.73% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -16.71% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 30.14% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 19.73% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 -1.09% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 17.65% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 -1.09% Raymond James $170 → $190 Maintains Outperform 11/30/2023 22.33% Stifel $200 → $235 Maintains Buy 11/30/2023 9.32% Truist Securities $200 → $210 Maintains Buy 11/30/2023 10.36% JMP Securities $200 → $212 Maintains Market Outperform 11/30/2023 9.32% Mizuho $180 → $210 Maintains Buy 11/30/2023 24.93% Oppenheimer $220 → $240 Maintains Outperform 11/30/2023 9.32% Wells Fargo $190

Snowflake (NYSE:SNOW) stock Analyst Ratings Read Post »

BlackRock Reports Full Year 2023 Diluted EPS of $36.51, or $37.77 as Adjusted

/ / Financials /

BlackRock Reports Full Year 2023 Diluted EPS of $36.51, or $37.77 as Adjusted BlackRock Announces Agreement to Acquire Global Infrastructure Partners (“GIP”) — Creating a World Leading Infrastructure Investment Platform NEW YORK–(BUSINESS WIRE)–January 12, 2024– BlackRock, Inc. (NYSE: BLK) today reported financial results for the three months and year ended December 31, 2023. BlackRock’s acquisition of GIP will create a combined infrastructure platform of over $150 billion*, well positioned to meet fast-growing investor demand $10 trillion in AUM following $289 billion of full year net inflows, including $96 billion in the fourth quarter Flat full year revenue primarily driven by the negative impact of markets on average AUM, partially offset by higher technology services revenue Restructuring charge of $61 million from initiative to reorganize specific platforms, primarily Aladdin and illiquid alternative investments, to stay ahead of client needs, excluded from as adjusted results 2% decrease in full year operating income

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BlackRock Q4 Adj $9.66 Beats $8.84 Estimate, Sales $4.63B Beat $4.61B Estimate

/ / Financials /

BlackRock (NYSE:BLK) reported quarterly earnings of $9.66 per share which beat the analyst consensus estimate of $8.84 by 9.28 percent. This is a 8.17 percent increase over earnings of $8.93 per share from the same period last year. The company reported quarterly sales of $4.63 billion which beat the analyst consensus estimate of $4.61 billion by 0.39 percent. This is a 6.78 percent increase over sales of $4.34 billion the same period last year.

BlackRock Q4 Adj $9.66 Beats $8.84 Estimate, Sales $4.63B Beat $4.61B Estimate Read Post »

UnitedHealth Group Reports 2023 Results

/ / Health Care /

UnitedHealth Group Reports 2023 Results — Revenues of $371.6 Billion Grew 15% Year-Over-Year — Earnings from Operations Grew 14% — Cash Flows from Operations were $29.1 Billion or 1.3x Net Income — Full Year and Fourth Quarter Net Earnings were $23.86 and $5.83 Per Share — Full Year and Fourth Quarter Adjusted Net Earnings were $25.12 and $6.16 Per Share UnitedHealth Group (NYSE: UNH) reported full year and fourth quarter 2023 results reflecting broad-based growth at Optum and UnitedHealthcare. This press release features multimedia. View the full release here: UnitedHealth Group corporate headquarters (Photo: Business Wire) “UnitedHealth Group enters 2024 well prepared to build on our efforts to improve patient care and consumer experiences broadly, and to continue delivering strong and balanced growth,” said Andrew Witty, chief executive officer of UnitedHealth Group. UnitedHealth Group affirmed the 2024 performance objectives established at its November 29(th) Investor Conference, excluding the potential impacts

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Delta Air Lines Announces December Quarter and Full Year 2023 Financial Results

/ / Consumer Discretionary /

Delta Air Lines Announces December Quarter and Full Year 2023 Financial Results PR Newswire ATLANTA, Jan. 12, 2024 Delivered industry-leading operational performance and financial results in December quarter Generated record full year revenue and over $5 billion of pre-tax income, a near doubling over 2022 Guiding to 2024 free cash flow of $3 to $4 billion, an improvement of up to $2 billion over 2023 Expect record March quarter revenue on improving domestic environment and continued strength in international demand, with solid profitability ATLANTA, Jan. 12, 2024 /PRNewswire/ — Delta Air Lines (NYSE: DAL) today reported financial results for the December quarter and full year 2023 and provided its outlook for the March quarter and full year 2024. Highlights of the December quarter and full year 2023, including both GAAP and adjusted metrics, are on page six and incorporated here. “2023 was a great year for Delta with industry-leading operational

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