Goldman Sachs analyst Toni Kaplan maintains TransUnion (NYSE:TRU) with a Neutral and lowers the price target from $85 to $73.
Goldman Sachs lowers TransUnion (NYSE:TRU) price target from $85 to $73 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 maintain our 12-month target price at $124, 14.8x our 2024 EPS, a discount to MRK’s 10-year historical forward P/E average. We increase our 2023 EPS estimate to $3.17 from $2.96 and retain 2024’s at $8.39. MRK reported a Q3 EPS of $2.13 vs. $1.85 (+15% Y/Y), $0.18 above the S&P Capital IQ consensus and $0.21 above our estimate. Q3 revenues of $16B increased by 7% Y/Y, a remarkable $689M above the consensus estimate and $832M above our forecast. This was driven by much higher-than-anticipated Lagevrio sales growth, the antiviral used to treat Covid-19 (+47% Y/Y, $640M), and strong Keytruda (the blockbuster oncology drug) sales performance (+17% Y/Y, $6.3B). The Animal Health segment returned to growth this quarter (+2% Y/Y, 9% of total sales), driven by the
CFRA Retains Buy Opinion On Shares Of Merck Co., Inc. 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 by $9 to $45, as we value NEM at an EV/EBITDA of 5.8x our 2024 EBITDA view, in line with peers, but a discount to NEM’s three-year average forward EV/EBITDA of 7.2x. We trim our 2023 EPS view by $0.17 to $1.81, but hike 2024’s by $0.52 to $2.79. NEM posted Q3 adj. EPS of $0.36 vs. $0.27, $0.04 below consensus, on a sales miss of 12%. During Q3, NEM generated $1 billion in operating cash flow and $397 million in free cash flow. Our upgrade to Buy is the result of incrementally positive gold price fundamentals (with heightened geopolitical risk and the Fed near the end of rate hikes) and our view that NEM’s operations are poised to improve starting in
CFRA Upgrades Opinion On Shares Of Newmont Corporation To Buy From Sell Read Post »
Citigroup analyst Jason Gursky maintains Boeing (NYSE:BA) with a Buy and lowers the price target from $285 to $271.
Citigroup lowers Boeing (NYSE:BA) price target from $285 to $271 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 lower our target by $3 to $212, using forward EV/EBITDA of 19.0x our 2024 EBITDA estimate, a discount to AMT’s 22.0x 10-year average due to lower capex spend from major telco’s and a more tempered pace of 5G expansion likely moving forward. We raise our 2023 AFFO estimate by $0.01 to $9.76 and keep 2024 at $10.44. AMT posted Q3 2023 AFFO of $2.58 vs. $2.45, a $0.19 consensus beat on revenues that rose 5.5% Y/Y. Revenue growth was supported by strong organic billings growth of 6.3% and operating profit margins that rose to 67.0% vs. 64.0% Y/Y. Within Towers, organic billings were strongest in Africa (+12.8% Y/Y), followed by Europe (+8.2%), APAC (+6.1%), U.S./Canada (+5.3%), and LATAM (+5.2%). Data Centers also continue to benefit from
CFRA Maintains Buy Opinion On Shares Of American Tower Corporation 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 keep our target at $61, 26.5x our 2024 EPS estimate, a premium to BSX’s historical forward average due to our expectations for accelerating growth. We lift our 2023 EPS estimate by $0.07 to $2.03 and 2024’s by $0.08 to $2.30. BSX posted Q3 EPS of $0.50 vs. $0.43 (+16% Y/Y), $0.02 above the consensus and $0.04 above our estimate. Q3 revenue of $3.6B was up a solid 11% Y/Y, or 10% organically, $50M above consensus and $135M above our estimates, again exceeding the high end of the organic guidance range of 7%-9%. Sales growth was broad-based in the 9%-22% range across geographies and business segments, with the exception of Neuromodulation, which saw slower growth (+3.7% Y/Y). Endoscopy (+12.6% Y/Y), Peripheral Interventions (+12.3% Y/Y), and the core
CFRA Retains Buy Opinion On Shares Of Boston Scientific Corporation 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: Our 12-month target price of $150, cut $37, reflects a 14.5x multiple on our revised 2024 EPS estimate. The applied multiple is below UPS’s historical forward average, but is merited, in our view, by concerns over the pace of the U.S. market recovery. We cut our 2023 EPS estimate by $1.23 to $9.28 and 2024’s by $1.66 to $10.41. Q3 operating EPS of $1.57 vs. $2.99, beat the consensus view by $0.01, although the adjusted operating margin of 7.7% was well below the 13.0% number from the year-ago quarter. We note that margins narrowed on two major fronts: an 11% reduction in U.S. Ground freight volume, and a 6.6% reduction in International average daily volume. Management has been able to offset the volume deterioration to some degree
CFRA Keeps Hold Opinion On Shares Of United Parcel Service, Inc. 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: Our 12-month target remains $296, an implied 14.3x multiple of our revised 2024 EPS estimate. The applied multiple is a slight discount to CAT’s five-year forward average of 15x and reflects some degree of caution around risk of an overseas slowdown. We raise our 2023 EPS estimate by $1.39 to $20.06 and 2024’s by $2.55 to $20.75. CAT reports Q3 results on October 31, but shares are down 15% since the beginning of August and now offer a better risk-reward balance, in our view. We like prospects for non-residential construction in the U.S., helped by renewed Federal spending on infrastructure that is starting to be put to work, although higher interest rates could crimp spending levels overseas. Shares yield 2.1% and we estimate a 2024 dividend payout
CFRA Lifts View On Shares Of Caterpillar Inc. To Buy From Hold 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 cut our 12-month target to $197 from $208, 20x our 2024 EPS of $9.86 (cut from $9.92; 2023 up by a penny to $9.47) vs. the 25x long-term average. A discount is warranted, as HSY is seeing heavy cost inflation related to labor, cocoa, and sugar, along with category softness within its everyday confectionery business and parts of its Salty Snacks business (e.g., Pirate’s Booty, SkinnyPop). HSY’s seasonal business is, however, doing well, as more manufacturing capacity has come online this year. In addition, the Dot’s pretzels brand is doing well following permanent distribution into Costco. Q3 adj-EPS of $2.60 (+20% Y/Y) beat by $0.15 on revenues of $3,030M (+11% Y/Y). Salty Snacks grew 25% Y/Y but benefited from planned inventory increases ahead of an ERP
CFRA Lifts Opinion On Shares Of The Hershey Company To Hold From Sell Read Post »
Boston Scientific Corporation (NYSE:BSX) Q3 2023 Earnings Conference Call October 26, 2023 8:00 AM ET Company Participants Mike Mahoney – Chairman & CEO Dan Brennan – EVP & CFO Dr. Ken Stein – SVP & Global CMO Lauren Tengler – VP, IR Conference Call Participants Robbie Marcus – J.P. Morgan Joanne Wuensch – Citibank Rick Wise – Stifel Vijay Kumar – Evercore ISI Larry Biegelsen – Wells Fargo Securities Travis Steed – Bank of America Securities Danielle Antalffy – UBS Matt Taylor – Jefferies Josh Jennings – TD Cowen Chris Pasquale – Nephron Research Mike Polark – Wolfe Research Matthew O’Brien – Piper Sandler Operator Good day, and welcome to the Boston Scientific Third Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please also note, this event is being recorded. I
Boston Scientific Corporation (BSX) Q3 2023 Earnings Call Transcript 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: Our 12-month target price of $465 (down $15) values shares at 31.1x our 2024 EPS estimate, discounted to MA’s five-year historical average of 37.6x to reflect the higher for longer rate environment. We raise our FY 2023 EPS estimate to $12.39 from $12.31 and increase FY 2024’s to $14.96 from $14.89. Q3 revenues were $6.53B (+14%, or +11% currency-neutral), in line with the consensus. Adjusted EPS was $3.39, which topped expectations by $0.18. On the positive side, gross dollar volume growth accelerated to 11% as weakness in the United States (+5%) was outweighed by strength in Latin America (+25%) and Europe (+22%). Additionally, cross-border volume (+21%) continued its momentum and sits a hefty 71% above pre-pandemic levels. However, spending trends have slowed in October and management indicated
CFRA Reiterates Buy Opinion On Mastercard Incorporated 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 lower our 12-month target to $200 from $210, 19.1x our 2024 EPS estimate of $10.48 (lowered from $10.51; 2023 raised to $9.16 from $9.08), in line with HON’s pre-pandemic 2018-2019 forward P/E average to reflect higher-than-usual forecasting uncertainty amid rising interest rates and global macro issues. HON posted Q3 adj-EPS of $2.27 vs. $2.25 (+1% Y/Y), beating consensus by $0.04. We attribute the beat to better-than-anticipated margin execution (operating margin +140 bps Y/Y), on positive impacts from productivity actions within Honeywell Building Tech. The top line for Q3 expanded by 3% Y/Y (+2% organically), reflecting robust sales growth in Aerospace (+18% organic; 38% of total Q3 sales) with strength in both commercial aviation and defense activity. We expect Aerospace to remain the growth engine within HON’s
CFRA Retains Hold Rating On Shares Of Honeywell International Inc. Read Post »