FedEx (NYSE:FDX) may report a positive earnings surprise when it posts its fourth-quarter and full-year 2023 results after the closing bell on Tuesday, according to analysts at UBS.
UBS, which has a ‘Buy’ rating and a 12-month price target of $260 on FedEx, is maintaining its 4Q earnings forecast of $5.11 a share for the global delivery firm, which compares to consensus of $4.85 per share.
General Mills (NYSE:GIS) has analysts at UBS upbeat about its upcoming earnings release where the company’s financial year 2024 guidance will be a point of focus.
The packaged food giant, whose portfolio of more than 100 brands includes the likes of Cheerios, Lucky Charms, Betty Crocker, Pillsbury, and Häagen-Daz, is set to report its fourth quarter fiscal 2023 earnings on June 28, 2023.
Analysts at UBS have upgraded AutoZone Inc from Neutral to Buy based on their hunch that the underappreciated company could rally hard if it successfully navigates some risks.
In a note to clients, UBS also noted that they were upgrading AutoZone as they felt the current valuation has created an “attractive buying opportunity.” The price target also got upgraded to $2,900 from $2,800 based on the firm's higher growth forecast. The share currently trades at around $2,467.
Analysts at UBS have reiterated their ‘Sell’ rating on heavy machinery manufacturer Caterpillar Inc. (NYSE:CAT) after the company’s recent 20% rebound on their belief that a slowdown ahead had not been priced into the company's valuation.
The analysts wrote, while they expected a solid second quarter from Caterpillar, the company will face much tougher year-over-year comparisons in the third quarter as it laps price increases across its business.
Analysts at Wedbush hiked their price target on Palo Alto Networks Inc (NYSE:PANW) by 28.9% while noting that the company’s cyber security cloud growth story was just getting started.
The analysts maintained their Outperform rating and put Palo Alto Networks on the Wedbush Best Ideas List, while raising their price target from $225 to $290 reflecting their incrementally bullish field checks.
A regulatory delay for GSK PLC (LSE:GSK, NYSE:GSK) with the 'centrepiece' drug of its US$2bn Sierra Oncology (NASDAQ:SRRA) acquisition last year "isn’t necessarily a red flag", according to an analyst.
The FTSE 100 pharma group revealed the US Food & Drug Administration (FDA) has extended the review period for momelotinib by three months with a final decision now expected in September 2023.
Carnival Corp's guidance will be the focus of investor attention when the cruise ship operator reports its second-quarter financial results on Monday, June 26, 2023, after its rival Royal Caribbean Cruises (RCL) recently raised its own outlook, according to analysts at UBS.
The analysts pointed out that RCL raised its 2023 financial year yield by 400 basis points to 6.25% to 7.25% yield growth compared to 2019.
Health is one of the most important factors influencing consumer acceptance of cultured meat, also known as lab-grown meat, according to analysts at Barclays.
They pointed out that, following United States Department of Agriculture (USDA) approvals on labelling for GOOD Meat and UPSIDE Foods in the last week, both companies now have one remaining step in the regulatory review process before they can start commercial production, being a USDA Grant of Inspection on their production facilities.
Tesla is on the verge of becoming the electric vehicle equivalent of Amazon’s and Apple’s hugely successful cloud computing businesses, suggests Wedbush.
What has changed recently is the Ford and General Motors supercharger partnerships, said the US broker,
Affirm Holdings continued its decline in Thursday pre-market trading after broker BTIG initiated coverage on the company with a sell rating and $10 price target.
After sinking 9.1% on Wednesday, shares of the San Francisco-headquartered technology company were 2.5% down at $16.61 ahead of the market open.
Investors are asking when they should buy copper but, according to analysts at UBS, it is not quite time yet.
“Our China copper predictor (about 80% historically accurate) suggests that demand will grow around mid-single digits year-over-year through mid-year from a low (Covid-lockdown) base,” the analysts wrote in a note to clients.
Ralph Lauren Corporation (NYSE:RL) and Capri Holdings, owner of iconic brands that include Versace, Jimmy Choo and Michael Kors, are in the top quartile of the clothing and textile industry when it comes to marketing spend, analysts at UBS said in The 2023 Market Spend Report.
Not only that, but their marketing spend as a percentage of sales has increased by an average of 245 basis points since 2019.
UBS analysts believe the medium-term outlook for Lundin Mining Corporation (TSX:LUN) (LUN) is “increasingly compelling” and the market is closer to a fundamental inflection point despite short-term risks to the copper price.
In a note to clients, they upgraded the stock to ‘Buy’ from ‘Neutral’, while increasing their 12-month target price to C$12 per share from C$10.
National Beverage's fourth quarter fiscal 2023 results are unlikely to prove to be a positive catalyst for the company’s shares, according to analysts at UBS.
While the beverage company, whose portfolio of sparkling water, juice, and energy drink brands include La Croix, Clear Fruit, and Mr. Pure, has not yet formally announced an earnings date, the analysts wrote in a note to clients that they expect it to report its latest quarterly results on Thursday, June 29, after the closing bell.
The tech sector is in the early stages of its next growth cycle being led by the artificial intelligence (AI) revolution, according to analysts at Wedbush.
“We continue to strongly believe that with the Fed now coming to the end of its historical rate hike cycle, inflation rapidly cooling, and rate cuts in the foreseeable future the Street is seeing the forest through the trees to identify the tech winners and share gainers in this next 4th Industrial Revolution,” the analysts wrote in a note to clients.
McDonald's Corp (NYSE:MCD) was cited as the ‘favorite’ quick-service restaurant brand by 37% of respondents in a 2023 survey by the UBS Evidence Lab, analysts at the brokerage said as they retained their ‘Buy’ rating and $330 price target for the company.
Not only did McDonald’s beat its peers by a significant margin, the burger chain also scored more than 800 basis points higher than the 2022 survey, the UBS analysts said in a client note.
Apple Inc (NASDAQ:AAPL)'s growth is likely to remain under pressure due to persistently soft demand in developed markets, according to UBS, which has downgraded its rating on shares in the tech titan to 'neutral' from 'buy'.
The investment bank anticipates that iPhone sales will decrease by 1%-2% in the latter half of 2023, with procurement expected to drop by 8%.
Generative AI such as ChatGPT is experiencing rapid adoption, growing its user base to over 100 million since its launch last November
The fast-paced evolution of the technology, most recently integrating image processing, is becoming a major consideration for investors as they assess the impact on share prices of European telecom, media, and technology (TMT) stocks.
Generative artificial intelligence (AI) is poised to be a tailwind for the MedTech industry over the long term, analysts at UBS believe, with little pointing to AI being a threat in any way.
In a note to clients following a conversation between the analysts and an expert in this area, they wrote that both generative AI and AI more broadly will bolster MedTech market growth by increasing procedural volumes as the technology leads to quicker and more accurate diagnosis.
Newmont Corporation’s operations at its Peñasquito mine in Mexico have been suspended due to a local labor dispute, which caught the attention of analysts at UBS.
The firm maintained its Neutral rating and price target of $53 for the company. Newmont, which owns 10% of the Peñasquito mine, saw its shares rise 1.2% Monday afternoon to $41.97.
Stifel GMP analysts are impressed by the attractive valuation TerrAscend Corp. (CSE:TER, OTCQX:TRSSF) is paying for Peninsula Alternative Health, which operates a single medical cannabis store in Maryland, ahead of the state’s move to legalized the recreational use of cannabis on July 1, which they believe has the potential to double the size of the Maryland's market in the first year.
In a note to clients, the analysts wrote that the $22.1 million purchase price, which is composed of $1.5 million cash at closing and an undisclosed distribution between assumed debt, sellers notes and shares, could result in an outsized accretion of 20%-25% despite it being a simple 1-store tuck-in, “demonstrating strong torque due to the company's relatively smaller size”.
DRI Healthcare Trust offers investors relatively low-risk exposure to the trillion-dollar global pharma industry with a long track record of success, analysts at Stifel GMP said as they initiated coverage on the company with a ‘Buy’ rating and $20 price target.
The analysts noted that DRI is a portfolio of roughly 23 royalty assets tied to the global pharmaceutical market. It invests between US$25 million and US$200 million in drugs that have been approved by the US Food and Drug Administration (FDA) in return for a long stream of cash flow/royalties.
Analysts at USB have slashed their price target for WeWork from US$2 to US$0.20 after the office space and workspace solutions provider posted weaker-than-expected first-quarter results and significant equity dilution following its recent restructuring.
WeWork’s shares are currently trading at US$0.18.
Planet Labs (NYSE:PL) delivered mixed first-quarter results that revealed an in-line top-line and a bottom-line beat, overshadowed by weaker guidance as it navigates a difficult operating environment, according to analysts at Wedbush.
Still, they’ve maintained their ‘Outperform’ rating and 12-month price target of $8 as the company focuses on adjusting its expense plan to prioritize core business investments while searching for new ways to optimize its expense profile.
Aritzia Inc (TSX:ATZ)'s stock valuation could exceed $60 per share by the 2025 calendar year representing a return of about 70% from current levels or an annualized return of about 35%, say analysts at Stifel GMP.
According to the analysts, the Canadian women's fashion retailer's stock represents one of the best risk-reward profiles in their coverage universe.
European Metals and its Czech partner choosing a site for the ore beneficiation and battery-grade lithium plant at Cinovec is timely, suggests WH Ireland.
The layout of the proposed plants and design of the ore corridor can now be finalised and brought into the Feasibility Study, expected to be finalised in the final quarter of this year.
Liberum has updated its target price for Futura Medical PLC (AIM:FUM, OTC:FAMDF) shares from 121p to 142p after the latter's announcement of US Food & Drug Administration approval for MED3000, a treatment for erectile dysfunction (ED), according to the corporate broker's research note.
This development marks a significant milestone for Futura, further strengthening the investment case in the Liberum's view.
UBS analysts are focused on the potential for Oracle Corporation (NYSE:ORCL) to fall short of its 30% Cloud growth target for fiscal 2023, when the company reports its fourth quarter 2023 results on Monday, June 12, but think there could be a compelling AI story to be told about Oracle Cloud Infrastructure’s (OCI) graphics processing unit (GPU) capacity.
They bumped up their 12-month target price on Oracle stock to $110 from $90, but maintained a ‘Neutral’ rating in a report previewing the software company's 4Q results.
Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) reported better-than-expected sales in May which may be due to the initial benefit from increased demand for AI-related wafers, Wedbush analysts said as they confirmed their ‘Outperform’ rating on Apple’s key chipmaker.
The semiconductor foundry reported a 19.% month-over-month rise in sales for May to NT$176.5 billion (US$5.74), ahead of expectations, especially if it benefits from some ramp-up in June into a second-half recovery, the analyst said in a note.
Los Andes Copper Ltd (TSX-V:LA) stock is undervalued at current levels following the recent positive pre-feasibility study (PFS) for its Vizcachitas copper project in Chile and its potential as a takeover target, according to analysts at Stonegate Capital Partners.
The PFS for the copper project, located 150 kilometres north of Santiago, revealed promising results, giving investors greater insight into the strong economics of the project, the analysts said in a note on Friday.