Oppenheimer analyst Jay Olson maintains Amgen (NASDAQ:AMGN) with a Outperform and raises the price target from $290 to $300.
Oppenheimer raises Amgen (NASDAQ:AMGN) price target from $290 to $300 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 target price by $3 to $16, 6.4x our ’24 EPS estimate, a discount to its three-year forward average P/E at 8.0x, reflecting its highly leveraged balance sheet. We increase our ’23 EPS estimate by $0.02 to $2.43 and raise ’24’s by $0.04 to $2.49. T reported Q3 operating EPS of $0.64 vs $0.68, $0.02 above the consensus. Q3 revenue rose 1.0%, with 2.0% growth in mobility, driven by 3.7% service growth and 4.6% growth in consumer wireline, partially offset by a 7.9% drop in business wireline. Postpaid phone net adds were 468k, prepaid adds came in at 26k, and fiber net adds were 296k. Given the solid Q3 results, coupled with what we saw in Q2, we believe the ship is slowly beginning
CFRA Raises Opinion On Shares Of At&t Inc. To Hold From Sell Read Post »
Wells Fargo analyst Colin Langan maintains Tesla (NASDAQ:TSLA) with a Equal-Weight and lowers the price target from $260 to $250.
Wells Fargo lowers Tesla (NASDAQ:TSLA) price target from $260 to $250 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 price target by $5 to $186 using a forward P/E of 16.5x our 2025 EPS estimate, below the five-year average of 19.6x due to the ongoing Vancouver rail strike (weak West Coast) and the UAW strike. We lower our 2023 EPS view by $0.19 to $9.88, cut 2024’s by $0.25 to $10.55, and set 2025’s as $11.27. Q3 sales fell 10% Y/Y on lower volumes (-3%) and lower fuel surcharges (-8%), partially offset by price/mix (+1.5%). Lower volumes were driven by weak West Coast imports (lower Intermodal) and tight grain supplies. Op. income fell 17% Y/Y on lower volumes and fuel surcharges, despite fuel prices rising in Q3, due to UNP’s lag on its fuel surcharge program. UNP posted Q3 EPS of $2.51,
CFRA Reiterates Sell Opinion On Shares Of Union Pacific 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 lift our 12-month target by $13 to $741 based on a P/E of 24x our CY 24 EPS view of $30.87. Our multiple is near semi equipment peers, but a premium to LRCX’s three-year historical average (19x), justified, in our view, by its increasing exposure to high-growth markets like high-bandwidth memory, advanced packaging, and backside power delivery. We increase our FY 24 (Jun.) EPS estimate by $1.79 to $28.73 and our FY 25 estimate by $0.22 to $35.43, with near-term strength driven by trailing-edge sales into China. Chinese customers accounted for 48% of revenue during the Sep-Q, a significant increase from 26% during the Jul-Q. We are skeptical if this pace of growth is sustainable in the long term, but we think China demand remains elevated
CFRA Upgrades Shares Of Lam Research Corporation 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 see BX facing a moderating outlook, with higher-for-longer rates impacting fee earnings, fundraising, and investment realizations. Using a narrower risk premium, we lower our target by $18 to $107 on a forward P/E of 18.8x, in line with the five-year historic average at 18.7x. Based on distributed earnings, we lower our EPS estimates in 2023 by $0.40 to $4.00 and ’24’s by $0.35 to $5.70, both below the consensus. BX posted Q3 2023 EPS of $0.94, a $0.10 earnings miss. Revenue declined 10% Y/Y in Q3 2023. We see total revenue of $10.85B in 2023 and $14.2B in 2024. For industry-realized financial metrics, performance revenues were -28% Y/Y, performance compensation -35%, and principal investment income -60%. Fund net inflows were only +$25B with the largest contributors
CFRA Lowers Opinion On Shares Of Blackstone, Inc. To Hold From Buy Read Post »
Pfizer Secures Unconditional EU Antitrust Approval For $43B Seagen Deal.
Pfizer Secures Unconditional EU Antitrust Approval For $43B Seagen Deal 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 of $41, down $19, is 4.5x our ’24 EPS estimate (cut to $9.13 from $11.38; ’23 to $9.87 from $11.30), below its peer forward average of 4.9x, which we believe is merited due to its above-peer average floating-rate debt ($11B vs. peer average of ~$3B) and lofty capex needs (~$9B vs. peer average of $4B in ’24). Q3 EPS of $3.65 vs. $2.81 beat consensus by $0.24. Q3 revenues grew ~13 Y/Y. The stock fell ~10% today, which we think is due to rising unit costs (labor and fuel) and the impact of the recent Israeli conflict (2% of total capacity per UAL). In Q3, UAL finalized a labor contract with its pilots (valued at $10B, lifting pay by as much as 40% over
CFRA Keeps Hold Opinion On Shares Of United Airlines Holdings, Inc. Read Post »
AT&T (T) shares rose by more than 7% in recent Thursday trading after the company logged Q3 results that beat Wall Street’s expectations. The company posted Q3 adjusted earnings from continuing operations of $0.64 per diluted share, down from $0.68 a year earlier. Analysts polled by Capital IQ expected $0.62. Operating revenue for the quarter ended Sept. 30 was $30.35 billion, up from $30.04 billion a year earlier. Analysts surveyed by Capital IQ expected $30.24 billion. The company said it now anticipates 2023 adjusted earnings before interest, taxes, depreciation and amortization growth of more than 4% versus its prior guidance of over 3%. Free cash flow for the year is now expected to be roughly $16.50 billion versus AT&T’s prior outlook of at least $16 billion, the company said.
AT&T Shares Rise Following Q3 Beat Read Post »
Wedbush analyst Michael Pachter reiterates Netflix (NASDAQ:NFLX) with a Outperform and maintains $525 price target.
Wedbush maintains Netflix (NASDAQ:NFLX) $525 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 increase our target by $1 to $8, 6.6x our 2024 EPS estimate, below KEY’s five-year forward P/E average of 10.1x given a severely dampened earnings outlook. We increase our 2023 EPS estimate by $0.04 to $1.14 and raise 2024’s by $0.07 to $1.21. KEY posted Q3 EPS of $0.29 versus $0.55 a year ago, $0.02 above consensus. Net interest income (-6% Q/Q) continued its downward plunge with Q3 2023’s $923 million marking the lowest level in seven years. Given KEY is looking to increase capital (CET1 ratio jumped 50 bps to 9.8%), we saw loan balance drop 3%, with business loans (-4%) showing particular weakness. While interest rates surged in the quarter, KEY saw its AOCI losses rise 10% to $6.6 billion (81% of KEY’s tangible
CFRA Keeps Strong Sell Opinion On Shares Of Keycorp Read Post »
Citigroup analyst Tyler Radke maintains ServiceNow (NYSE:NOW) with a Buy and lowers the price target from $734 to $700.
Citigroup lowers ServiceNow (NYSE:NOW) price target from $734 to $700 Read Post »