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 12/20/2023 16.36% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -18.55% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -12.34% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023 -27.08% BMO Capital $97 → $94 Maintains Market Perform 10/20/2023 -6.91% Morgan Stanley $125 → $120 Maintains Overweight 10/10/2023 -10.01% Barclays $110 → $116 Maintains Equal-Weight 10/06/2023 -12.34% HSBC → $113 Initiates Coverage On → Hold 09/05/2023 -3.03% Morgan Stanley $125 → $125 Reiterates Overweight → Overweight 07/24/2023 -13.12% Goldman Sachs $98 → $112 Maintains Buy 07/21/2023 -9.24% Oppenheimer $115 → $117 Maintains Outperform 07/21/2023 -3.03% Morgan Stanley $116 → $125 Maintains Overweight 07/21/2023 -24.75% BMO Capital $93 → $97 Maintains Market Perform 07/21/2023 -8.46% Wells Fargo $104 → $118 Maintains Overweight 07/21/2023 -13.89% JP Morgan $102 → $111 Downgrades Overweight → Neutral 07/21/2023 -9.24% […]

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Mastercard Inc. (NYSE: MA) Stock Analyst Ratings

/ / Industrials /

Mastercard Inc. (NYSE: MA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/20/2023 — Monness, Crespi, Hardt Initiates Coverage On → Neutral 12/12/2023 12.46% Jefferies $425 → $480 Maintains Buy 12/07/2023 15.97% Tigress Financial $476 → $495 Maintains Strong Buy 12/05/2023 11.29% BMO Capital → $475 Assumes → Outperform 10/31/2023 -1.6% Mizuho $435 → $420 Maintains Buy 10/30/2023 10.12% Barclays $479 → $470 Maintains Overweight 10/27/2023 1.21% RBC Capital $441 → $432 Maintains Outperform 10/27/2023 10.58% BMO Capital $488 → $472 Maintains Outperform 10/27/2023 2.85% Morgan Stanley $443 → $439 Maintains Overweight 10/27/2023 5.9% Raymond James $453 → $452 Maintains Outperform 10/27/2023 0.74% Keybanc $440 → $430 Maintains Overweight 10/18/2023 3.09% Keybanc $435 → $440 Maintains Overweight 10/13/2023 -0.66% HSBC → $424 Initiates Coverage On → Hold 10/12/2023 12.22% Barclays $480 → $479 Maintains Overweight 10/12/2023 8.94% Seaport Global → $465 Initiates

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Visa Inc. (NYSE:V) Stock Analyst Ratings

/ / Industrials /

Visa Inc. (NYSE:V) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/20/2023 — Monness, Crespi, Hardt Initiates Coverage On → Neutral 12/14/2023 17.22% UBS $295 → $305 Maintains Buy 12/12/2023 13.37% Jefferies $280 → $295 Maintains Buy 12/05/2023 7.61% BMO Capital → $280 Initiates Coverage On → Outperform 10/31/2023 -6.61% Mizuho $240 → $243 Maintains Neutral 10/30/2023 6.84% Barclays $285 → $278 Maintains Overweight 10/25/2023 3.77% Wedbush → $270 Reiterates Outperform → Outperform 10/25/2023 10.3% Raymond James $284 → $287 Maintains Outperform 10/18/2023 -3.15% Oppenheimer $248 → $252 Maintains Outperform 10/18/2023 5.69% Keybanc $265 → $275 Maintains Overweight 10/13/2023 2.23% HSBC → $266 Initiates Coverage On → Hold 10/12/2023 9.53% Barclays $287 → $285 Maintains Overweight 10/12/2023 — Seaport Global Initiates Coverage On → Neutral 10/09/2023 12.61% JP Morgan $296 → $293 Maintains Overweight 09/14/2023 9.15% Baird → $284 Reiterates Outperform →

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FedEx’s Mixed Guidance Trends Signal ‘Lack of Earnings Visibility,’ Says Morgan Stanley

/ / Industrials /

FedEx’s (FDX) mixed guidance trends signal a “lack of earnings visibility” while its fiscal Q3 commentary points to a “challenging” Q4, Morgan Stanley said in a Wednesday note. The company reported fiscal Q2 non-GAAP diluted earnings Tuesday of $3.99 per share, up from $3.18 a year earlier, while revenue declined to $22.2 billion from $22.8 billion. For the full fiscal year, FedEx expects revenue to decline by a low-single-digit percentage, compared with its prior forecast of flat revenue growth. Morgan Stanley said fiscal Q2 earnings missed Street estimates, as expected, and that the quarter’s results demonstrate the challenge that the revenue versus cost dynamic presents. The investment firm said pressures on the company’s revenue outweigh the gains from its DRIVE cost-cutting program. “We believe FDX is an idiosyncratic revenue story rather than an idiosyncratic cost story like the market believes,” said Morgan Stanley. According to the firm, savings from the

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Timing of FactSet’s Earnings Guidance Revision Surprising, RBC Capital Markets Says

/ / Financials /

The timing of FactSet’s (FDS) earnings guidance revision is surprising given the company typically revisits its forecast in its fiscal second quarter, RBC Capital Markets said in a note emailed Wednesday. FactSet on Tuesday lowered its fiscal 2024 adjusted earnings guidance to between $15.60 and $16 per diluted share from $15.65 to $16.15 per share anticipated previously. It also lowered its revenue guidance to a range of $2.20 billion to $2.21 billion from $2.21 billion to $2.23 billion previously. Given the limited visibility, the guidance is likely not fully de-risked, RBC Capital noted. While FactSet still views its fiscal second half pipeline favorably, it does face a number of headwinds in the form of pricing pressure and delayed decision-making by clients due to budget constraints, the firm said. RBC Capital maintained its Sector Perform rating on the stock with a price target of $464.

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CFRA Retains Hold Opinion On Shares Of Wells Fargo & Company

/ / 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 increase our target price by $10 to $52, 10.2x our 2024 EPS estimate, below the three-year historic average of 11.7x given stagnant growth expectations. We decrease our 2023 EPS view by $0.05 to $5.19 and raise 2024’s by $0.04 to $5.12. After trading relatively flat through the first 10 months of 2023, shares have surged in recent weeks and now sit 21% higher for the year. Still, we view the recent rally as reasonable as falling long-term interest rates and decreasing recessionary odds justify a higher multiple, in our view. WFC is more exposed to commercial real estate office loans (3.4% of total loans) than its large bank peers and clear credit deterioration has been identified in recent quarters with further degradation expected in Q4. However,

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CFRA Maintains Strong Buy Recommendation On Shares Of Asml Holding N.v.

/ / 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 raise our 12-month target by $118 to $849, 29.5x our ’25 EPS view, near ASML’s three-year average two-year forward multiple (~29.4x), as we shift our focus from ’24 to ’25. We lower our ’24 EPS estimate to EUR19.65 from EUR19.88 and increase ’25’s view to EUR26.15 from EUR25.56 as we budget in a bit more softness in early ’24, followed by an acceleration toward the end of the year and solid strength in ’25 as new technologies like gate-all-around are introduced in higher volumes. We see Chinese demand pulling back to start ’24 as export restrictions take hold, but we expect demand for ASML’s one-of-a-kind systems to be picked up by other countries as the global race for advanced semiconductor technology continues. We note ASML’s backlog

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FedEx Express Challenges Seen Persisting in Second Half, UBS Says

/ / Industrials /

FedEx’s (FDX) express business is expected to see continued headwinds in the second half of fiscal 2024, though freight and ground should support the company’s earnings, UBS Securities said Wednesday. Late Tuesday, the parcel delivery giant projected a drop in full-year sales after its fiscal second-quarter results missed Wall Street estimates amid demand headwinds. The express segment’s operating income fell due to lower revenue, which was driven by volume declines, lower fuel surcharges and reduced demand surcharges, according to the company. UBS said the revenue and margin performance of the express segment was worse than the firm’s expectations. The brokerage lowered its full-year per-share earnings estimate for FedEx to $17.60 from $18.50 amid “weaker” express margin performance, analysts Thomas Wadewitz, Michael DiMattia and Michael Triano said in a note. FedEx shares were down nearly 11% in Wednesday late-afternoon trade. The demand backdrop continues to be “difficult,” Chief Executive Raj Subramaniam

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CFRA Keeps Hold Opinion On Shares Of Fedex Corporation

/ / 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 12-month target price of $263, cut by $6, reflects a 12x multiple of our revised FY 25 (May) EPS estimate, about in line with FDX’s historical forward average. We cut our FY 24 (May) EPS estimate by $0.69 to $17.69 and FY 25’s by $0.50 to $21.92. FQ2 operating EPS of $3.99 vs. $3.18, missed the consensus view by $0.21. Volumes were light, a continuation of demand headwinds seen in FQ1, but worse than FDX had expected. Updated FDX guidance for FY 24 indicates a revenue outlook that is slightly worse than before. Notably, FDX sees revenues down low-single digits in FY 24 rather than flat, and may reflect some higher competitive pressure from the U.S. Postal Service, as it shifts toward ground shipments rather than

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Micron Technology, Inc. Reports Results for the First Quarter of Fiscal 2024

/ / Technology /

Micron Technology, Inc. Reports Results for the First Quarter of Fiscal 2024 Industry-leading technology and products address the growing demand for AI solutions BOISE, Idaho, Dec. 20, 2023 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) today announced results for its first quarter of fiscal 2024, which ended November 30, 2023. Fiscal Q1 2024 highlights — Revenue of $4.73 billion versus $4.01 billion for the prior quarter and $4.09 billion for the same period last year — GAAP net loss of $1.23 billion, or $1.12 per diluted share — Non-GAAP net loss of $1.05 billion, or $0.95 per diluted share — Operating cash flow of $1.40 billion versus $249 million for the prior quarter and $943 million for the same period last year “Micron’s strong execution and pricing drove better-than-anticipated first quarter financial results,” said Micron Technology President and CEO Sanjay Mehrotra. “We expect our business fundamentals to improve throughout

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Micron Technology Beats Earnings Estimates. The Stock Is Rising. — Barrons.com

/ / Technology /

By Tae Kim Micron Technology posted better-than- expected results for its November quarter, sending the stock higher in after-hours trading Wednesday. The semiconductor company reported an adjusted loss of 95 cents a share for its fiscal first quarter, compared with the consensus call for a loss of $1.01 among analysts tracked by FactSet. Revenue came in at $4.73 billion for the period, which was slightly above analysts’ expectations for $4.58 billion. For the current quarter, Micron offered a revenue forecast of $5.3 billion at the midpoint of its range, which was also above the consensus of $4.97 billion. “Micron’s strong execution and pricing drove better-than-anticipated first quarter financial results,” Micron Technology CEO Sanjay Mehrotra said in the news release. “We expect our business fundamentals to improve throughout 2024.” Micron shares initially rose as much as 3.6% in late trading Wednesday following the results. The company is a leader in the

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