HSBC analyst Rajesh Kumar downgrades UnitedHealth Group (NYSE:UNH) from Hold to Reduce and lowers the price target from $550 to $480.
HSBC lowers UnitedHealth Group (NYSE:UNH) price target from $550 to $480 Read Post »
FactSet Research Systems Inc. (NYSE:FDS) is projected to release financial results for the first quarter fiscal 2024, ending Nov. 30, 2023, before the opening bell on Dec. 19, 2023. Analysts expect the company to post quarterly earnings at $4.11 per share, up from year-ago earnings of $3.99 per share. The company’s revenue might come in at $540.36 million for the latest quarter, according to Benzinga Pro. FactSet Research, during September, reported fourth-quarter FY23 sales growth of 7.3% year-on-year to $535.797 million, marginally beating the consensus of $535.280 million.
FactSet Research Gears Up For Q1 Print Read Post »
Shares of Adobe Inc. (ADBE) climbed 1.9% in premarket trading Monday after the software company and design tools maker Figma said they have agreed to terminate the $20 billion merger agreement. Adobe said the companies agreed that “there is no clear path” to receive the necessary regulatory approvals from the European Commission and the U.K. Competition and Markets Authority. CMA said last month that it saw a “substantial lessening of competition” from the deal, which was originally announced in September 2022. “Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently,” said Adobe Chief Executive Shantanu Narayen. Adobe’s stock has soared 73.7% year to date through Friday, while the S&P 500 has gained 22.9%.
Adobe to Terminate $20 Billion Deal to Buy Figma Read Post »
Advanced Micro Devices (NASDAQ:AMD) Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/18/2023 12.51% Goldman Sachs $137 → $157 Maintains Buy 12/15/2023 18.25% B of A Securities → $165 Upgrades Neutral → Buy 12/07/2023 43.33% Rosenblatt → $200 Reiterates Outperform → Outperform 12/07/2023 3.91% Stifel → $145 Reiterates Buy → Buy 12/07/2023 0.33% Raymond James $125 → $140 Maintains Strong Buy 11/14/2023 -10.42% Roth MKM → $125 Initiates Coverage On → Buy 11/02/2023 -3.25% UBS $145 → $135 Maintains Buy 11/01/2023 -29.77% Truist Securities $128 → $98 Maintains Hold 11/01/2023 -6.84% Mizuho $140 → $130 Maintains Buy 11/01/2023 -14% Barclays $145 → $120 Maintains Overweight 11/01/2023 -6.84% Wedbush $155 → $130 Maintains Outperform 11/01/2023 -8.27% Morgan Stanley $138 → $128 Maintains Overweight 11/01/2023 -10.42% Raymond James $145 → $125 Maintains Strong Buy 11/01/2023 0.33% Keybanc $160 → $140 Maintains Overweight 08/03/2023 3.91% Benchmark
Advanced Micro Devices (NASDAQ:AMD) Analyst Ratings Read Post »
Goldman Sachs analyst Toshiya Hari maintains Advanced Micro Devices (NASDAQ:AMD) with a Buy and raises the price target from $137 to $157.
Goldman Sachs raises Advanced Micro Devices (NASDAQ:AMD) price target from $137 to $157 Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target price to $2,630 from $2,110, 49.6x our 2024 EPS, a discount to CMG’s five-year average forward P/E of 63.6x. We keep our 2023 EPS estimate at $44.58 but raise our 2024 EPS estimate to $52.99 (from $52.69). Despite CMG shares rallying by an impressive 20% since its Q3 earnings call, we are still confident in the potential for further upside in 2024. While we expect some ongoing inflation pressures, particularly from food costs (primarily beef) and labor, we maintain a positive outlook given the anticipated impact of lower interest rates on CMG’s core operations, coupled with its robust growth prospects relative to peers. Moreover, we think CMG remains strategically well positioned to capitalize on its higher menu prices and drive sales growth
CFRA Keeps Buy Opinion On Shares Of Chipotle Mexican Grill, Inc. Read Post »
Morgan Stanley analyst and Tesla Inc (NASDAQ:TSLA) bull Adam Jonas on Thursday offered his two cents on the EV maker’s recent recall of over 2 million vehicles. What Happened: Early on Wednesday, Tesla issued a recall for over 2 million vehicles equipped with all versions of Autosteer, an autopilot feature, citing insufficient controls to prevent misuse, and offered a free software update. Jonas does not deem the recall to have a cost impact on Tesla in the upcoming year as it involves merely a software upgrade for the ‘fix’ to be deployed. Tesla’s Self-Driving Dreams: Citing his own experience as an autopilot user for over 3 years and Tesla’s Full Self-Driving (FSD) capability for over a year, Jonas said that FSD presently has greater value as a convenience feature than a safety feature. The most important aspect of it is knowing when to use it and when not to, Jonas said. While Tesla would have its own
Discretionary spending is inching back just in time for the holidays. That’s one readout from analysts after spending data and quarterly results from Costco Wholesale this week showed shoppers still have an appetite to splurge on items beyond everyday groceries and essentials. The data comes after retailers, analysts and economists had cautioned in recent weeks that waning pandemic savings, higher interest rates and even the resumption of federal student loan payments could dampen demand for discretionary goods. Sales at electronics and appliance stores surged 12% year on year in November, according to the Commerce Department. That’s up from 1.5% in October after seven consecutive months of lower year-on-year sales. Other discretionary categories showed an acceleration from the previous months. Furniture and home furnishings stores posted a 7.3% decline in November, compared with a 12% slide the previous month. Sporting goods, hobby, book and music store sales, meanwhile, logged a 0.2%
Shoppers Dip Toes Back Into Discretionary Spending – Analysis Read Post »
On Thursday, Chewy Inc (NASDAQ:CHWY) held its Investor Day. The company sees FY24 sales growth to be below the long-term target of a high single-digit percentage. The company sees a long-term adjusted EBITDA margin of 10% and expects to deliver margin accretion in FY24, irrespective of the macro environment. Needham Analyst Anna Andreeva notes that Chewy has focused on only half of the Health TAM ($4 billion insurance and $18 billion products). She writes that over 20% of active customers purchased from Chewy pharmacy, and as pharmacy TAM shifts online, Chewy should benefit across the P&L. From a potential pool of 50 million new customers, 18% (12 million) represent high-value prospects, while 62% (41 million) fall into the mid-value category. Also Read: Federal Violations – Chewy Among Companies Selling Unapproved Animal Drugs. Needham reiterates the Buy rating with a price target of $25, up from $20. As the pet industry increasingly transitions to online
Shares of Costco Wholesale are on pace for their fifth all-time high close in just more than a week after the company’s discretionary sales ticked up in the recently completed first quarter. The stock was up 4.4% to $658.46 in midday trading, reaching an all-time intraday high and notching its largest percent increase since January. Shares are up 44% this year. Costco shares are on pace to reach a fifth record close since Dec. 7. The big-box retailer on Thursday said it logged a higher profit in the period ended Nov. 26, as sales rose in line with analysts’ expectations. Same-store sales, which strip out store openings and closures, rose 3.8%, consistent with the prior quarter. Costco’s e-commerce sales rose in the quarter, bucking a trend of sliding sales. The company saw improvements in its bigger-ticket non-food items, also a reversal from previous results where Costco saw weakness in discretionary
Costco Shares On Pace For All-Time High After 1Q Sales Hold Up Read Post »
Costco Wholesale is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Several analysts have raised their price target on Costco shares a day after the company reported first-quarter sales rose 6.1% from the year-ago period. The company also said it would pay a special dividend of $15 per share. Among the analysts raising their price targets were DA Davidson, which increased its target to $600 a share from $570, and BMO Capital, which pushed its target up to $700 a share from $612, as reported by Benzinga. Dow Jones & Co. owns Factiva.
Trending: Costco Price Target Bumped Up by Analysts Read Post »
BofA says Intel’s plans to break out design and manufacturing financials could help investors better value the respective businesses Intel Corp.’s bear camp got a little smaller Friday as a BofA Securities analyst ended his negative call on the stock. BofA’s Vivek Arya still has concerns about Intel (INTC), including that there’s limited upside in the PC market and that the company is shedding server market share to Advanced Micro Devices Inc. (AMD) and ARM Holdings PLC (ARM). But he’s feeling more encouraged about other areas of the business, including its Mobileye autonomous-driving unit and its foundry plans. See also: Intel announces new PC, server chips designed for AI uses What’s more, Arya thinks that Intel is undervalued on a sum-of-the-parts basis. That could change as the company moves to separate its design and manufacturing financials early next year. “This should help compare each business unit to its respective [comparables],”
Intel’s Stock Sheds a Bear as a Key Catalyst Awaits Read Post »