Wells Fargo analyst Larry Biegelsen maintains Intuitive Surgical (NASDAQ:ISRG) with a Overweight and lowers the price target from $386 to $363.
Wells Fargo lowers Intuitive Surgical (NASDAQ:ISRG) price target from $386 to $363 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 raise our 12-month price target by $1 to $33 on a forward P/E of 16x our 2025 EPS estimate, a discount to the five-year average of 18x on lower forecasted margins and expected negative impacts on auto shipments due to the UAW strike. We lower our 2023 EPS view to $1.82 from $1.87 and 2024’s to $1.92 from $2.03. We also remove 2025 estimates. Q3 sales fell 8% Y/Y on lower fuel surcharges, reduced intermodal storage revenue, a decline in export coal benchmark prices, and a decrease in intermodal volumes (particularly international), partially offset by higher merchandise yields and coal volume growth. Volume/revenue by segment: Merchandise flat/-1%; Coal +9%/-5%; and Intermodal -7%/-14%. Operating income declined 18% Y/Y. CSX posted Q3 EPS of $0.42, meeting expectations. We
CFRA Reiterates Hold Opinion On Shares Of Csx 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 upgrade our recommendation on EMR shares to Buy from Hold ahead of earnings given our view that shares are currently undervalued. Additionally, we view EMR’s portfolio transformation positively and see it enhancing the company’s long-term growth trajectory. EMR has been exiting lower growth businesses and dialing in its focus on building out a cohesive automation portfolio that is aligned with several secular investment drivers, including factory nearshoring, energy security, decarbonization, and digitalization. Favorable pricing, easing supply chain constraints, and improving backlog conversion should back results in the coming quarters, in our view. We adjust our 12-month target to $114 from $102 following an updated outlook for FY 2024 results, 21.4x our 2024 EPS estimate of $5.33 (up from $4.75). We see upside in shares currently, with
CFRA Upgrades View On Shares Of Emerson Electric Co. To Buy From Hold Read Post »
Citigroup analyst Michael Ward maintains Allstate (NYSE:ALL) with a Buy and raises the price target from $135 to $156.
Citigroup raises Allstate (NYSE:ALL) price target from $135 to $156 Read Post »
Citigroup analyst Alexander Hacking maintains Alcoa (NYSE:AA) with a Buy and lowers the price target from $42 to $32.
Citigroup lowers Alcoa (NYSE:AA) price target from $42 to $32 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 trim our 12-month target price to $306 from $395, 47.1x our 2024 EPS estimate, in line with ISRG’s historical forward average. We lift our EPS estimate for 2023 by $0.03 to $5.57 and for 2024 by $0.06 to $6.50. ISRG reported Q3 EPS of $1.46 versus $1.19, exceeding the S&P Capital IQ consensus estimate by $0.04. Results were driven by 19% Y/Y growth in da Vinci procedures globally, despite lower patient backlog than earlier in the year, with outside-U.S. procedures growth of 24% due to strength in India, Germany, the U.K., and Japan. Further, the installed base of da Vinci Systems grew 13% Y/Y and average system utilization expanded 6% in the quarter. We forecast full-year 2023 procedure growth of 21.5%, up 50 basis points from
CFRA Reiterates Buy Opinion On Shares Of Intuitive Surgical, 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 trim our 12-month target price to $113 from $130, 24.4x our ’24 EPS forecast, in line with ABT’s historical forward average. We lift our ’23 EPS estimate by $0.03 to $4.43 and maintain our ’24 estimate of $4.63. Q3 adj. EPS of $1.14 vs. $1.15 beat the consensus view by $0.04, driven by sales growth from Nutrition (+16% Y/Y) due to continued market share recapture in the U.S. infant formula business, where ABT has now reclaimed the leadership position, in addition to growth in Medical Device sales (+17% Y/Y), aided by FreeStyle Libre sales growth of 28% in Q3. ABT sees a growing number of Libre users in the U.S. using Libre in combination with GLP-1 medications — a view that these approaches are complementary as
CFRA Keeps Buy Opinion On Shares Of Abbott Laboratories Read Post »
UBS analyst Timothy Chiodo assumes Fidelity National Info (NYSE:FIS) with a Neutral rating and announces Price Target of $58.
UBS announces Fidelity National Info (NYSE:FIS) Price Target of $58 Read Post »
Intuitive Surgical, which makes robotic-surgery systems, says the rollout of weight-loss drugs like Ozempic is pressuring demand for bariatric surgeries in the short term, but the company expects those people to eventually opt for a weight-loss surgery. “In the short-term we will see patients who are considering or are in the pipeline for bariatric surgery going to try the drug,” Chief Medical Officer Myriam Curet tells analysts on a conference call. “However, given compliance issues, cost, side effects, we expect that many of them will not stay on the drugs for longer than a year or two, and at that time will consider bariatric surgery.” Longer term, Curet says the company expects interest in weight loss to grow and boost demand for surgeries. Shares slip 1.6%.
Intuitive Surgical Says Many Will Drop Weight-Loss Drugs, Opt for Surgery Read Post »
Hasbro is likely to post weaker 3Q results as retail sales lag, DA Davidson analyst Linda Bolton Weiser says in a research note. Hasbro management suggested last month that some retailers are taking a more cautious approach heading into the holiday season following bloated inventories at the end of last year. The company has warned that August consumer-product sales were still weaker following a lackluster first half of the year, putting more pressure on a sales jump in September to meet guidance. Weiser slashes her forecast for Hasbro’s 3Q consumer product sales to a 10% drop, compared with a prior projection of a 5% drop.
Hasbro 3Q Sales Expected To Be Hit By Retail Weakness Read Post »
JPMorgan analyst Chris Schott reinstates Amgen (NASDAQ:AMGN) with a Neutral and announces $270 price target.
JPMorgan announces Amgen (NASDAQ:AMGN) $270 price target 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 $70, down $1, which reflects a 13.8x multiple of EV to projected ’24 EBITDA, a premium to peers. We think a peer premium is merited based on SLB’s peer-leading international and offshore exposure (80% of ’22 revenues vs. a peer average of 66%). We cut our ’23 EPS estimate by $0.04 to $2.95, and lift ’24’s by $0.02 to $3.72. Q3 EPS of $0.78 vs. $0.63, beat consensus by $0.01. Q3 revenue ($8.3B) grew 11% Y/Y, driven by its international segment (+12%). On Wednesday (October 18), the U.S. lifted most of its restrictions against Venezuelan crude for six months. While it is still in the early stages, we think SLB should stand to benefit against its peers, given its track record
CFRA Keeps Strong Buy Opinion On Shares Of Schlumberger Limited Read Post »