UBS analysts kicked off coverage of TKO Group Holdings Inc with a ‘Buy’ rating and a 12-month target price of $123 per share, calling the combination of WWE and UFC "a rare pure-play in live sports with rights renewals and synergies on the horizon."
"We believe the merger of WWE and UFC will improve monetization through cost and revenue synergies and create an entity generating strong cash flows that will enable returns to shareholders and optionality for management to acquire other live sports properties," the analysts wrote.
Glencore PLC (LSE:GLEN) could be the proud owner of Teck Resources Ltd (TSX:TECK.B)'s metallurgical coal assets by the end of 2023, according to analysts.
The much fraught deal, announced earlier this year, has gone through multiple offers and counteroffers, with Teck initially rebuffing Glencore’s advances to acquire the company outright.
Analysts at Jefferies are “increasingly bullish” on Microsoft Corporation (NASDAQ:MSFT)'s artificial intelligence (AI) potential after attending the tech giant’s Envision event in New York.
The analysts said they came away from the event incrementally positive on the ability of Microsoft Copilot, Microsoft’s AI assist feature for Microsoft apps and services, to drive revenue uplift in the 2024 calendar year.
Analysts at the Bank of America (BoA) have lowered their rating and price target for RTX, formerly known as Raytheon Technologies Corp (NYSE:RTX), on the significant near-term risks posed to the company’s valuation by its subsidiary Pratt & Whitney’s PW1100 geared turbofan (GTF) engine issues.
RTX on Monday updated investors on the issues surrounding the engine, supplied by Pratt & Whitney to Airbub for the A320 aircraft, noting the issue would result in a $3 billion charge on its third quarter financials.
Semtech Corporation shares rose as investors digested the company’s second quarter results and weaker-than-expected guidance that sent its stock lower in after-hours trading on Wednesday.
The semiconductor company’s shares had gained 5.7% at US$24.17 early on Thursday afternoon to be flat week-over-week.
Amazon's September 12 announcement of Supply Chain by Amazon is a significant improvement for multi-channel sellers and positions the company to monetize incremental volume through its existing assets, Wedbush analysts wrote in a client note.
The expansion of its logistics network will allow Amazon's selling partners to move their products in bulk from its low-cost storage service, Amazon Warehousing Distribution (AWD), to any sales channel, including physical stores and warehouses, instead of only directly to consumers’ doorsteps.
Draftkings Inc (NASDAQ:DKNG) is set to benefit as more US states legalize gambling and its existing customer base spends more.
While these are compelling dynamics, analysts at UBS are more excited by the natural reduction in promotional activity the company will have to fork out for as states mature five years after the US Supreme Court ruled in favor of sports betting in 2018.
Adobe Systems Incorporated (NASDAQ:ADBE)'s decision to raise prices on its Creative Cloud suite rather than monetize its Firefly AI product as a standalone offering raises questions about the company's growth strategy.
According to a research note from UBS, the Swiss investment bank, the move could either be a calculated risk or a missed revenue opportunity.
Polestar has got an upgrade from Deutsche Bank following the Munich Motor Show with the German bank saying the luxury EV maker has plans in place to boost margins.
Volvo (Geely)-owned Polestar acknowledged the 4% margin target for this year is too low, but it is seeking underlying profit (EBIT) breakeven through better cost utilisation.
The pullback in Block Inc (NYSE:SQ)'s share price is a buying opportunity, according to analysts at Berenberg Capital Markets who have initiated coverage on the FinTech company with a ‘Buy’ rating and a US$75 price target.
Block shares traded at US$54.15 shortly after the market opened on Thursday.
UBS is initiating coverage on 13 US auto stocks, citing transformative forces shaping the sector, including electrification, software-enabled vehicles, and automated driving.
Legacy OEMs General Motors Company (NYSE:GM) and Ford Motor Company (NYSE:F) received Buy ratings, with GM expected to weather challenges through cost-cutting measures and electric vehicle scaling.
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) offers investors exposure to gold, lithium, and copper and the miner could generate significant returns from its royalty portfolio, according to analysts at Fundamental Research Corp, who have initiated coverage on the company with a ‘Buy’ rating.
They awarded TNR Gold a C$0.22 price target, representing an upside of 266.7% from its current share price of C$0.06.
The J.M. Smucker Company (NYSE:SJM) has made headlines with its announcement of a $5.6 billion deal to acquire Twinkie-maker Hostess Brands Inc (NASDAQ:TWNK) at a share price of $34.25 each – represents a hefty 54% premium to TWNK's share price.
While some investors are wary of the purchase price and future growth prospects, analysts suggest that the deal's complementary nature may be underestimated.
Adobe Systems Incorporated (NASDAQ:ADBE) has announced that Firefly, its creative generative AI models, are now available for commercial use across its Adobe Creative Cloud, Adobe Express, and Adobe Experience Cloud applications.
According to the company, Firefly supports text prompts in more than 100 languages, allowing users to create visual content safe for commercial use.
SharkNinja shares have been on a winning streak as analysts at Jefferies have initiated coverage on the provider of household appliances and cleaning solutions with a ‘Buy’ rating.
Shares of SharkNinja traded higher on Wednesday morning, up 0.4% at US$41.88 shortly after the market opened, and have gained 23.1% week-over-week.
Another year, another Apple Inc (NASDAQ:AAPL) product launch, and this time round it’s the death of the lightning cable which appears to be driving the cheers from the tech giant’s die-hard enthusiasts.
Neil Wilson, chief market analyst at Markets.com, summed up the launch: “Apple was a bit of a nothing-burger... pricing power is ok, ecosystem still super strong... people will upgrade but nothing we didn’t know already.”
Keywords Studios PLC (AIM:KWS, OTC:KYYWF), the production and localisation services provider to the videogames industry, generated positive responses from the City after dropping its interim results on Tuesday.
Today, equities analysts at Liberum added to the chorus with a 'buy' rating and 78% upside price target for the AIM-listed group.
TKO Group Holdings, a new sports and entertainment company created as a result of the union between the Ultimate Fighting Championship (UFC) and World Wrestling Entertainment Inc (NYSE:WWE) has debuted on the New York Stock Exchange under the ticker symbol “TKO.”
Shares of TKO traded up 2.8% at US$103.50 shortly after noon on Tuesday.
The City has responded well to today’s interim results from Keywords Studios PLC (AIM:KWS, OTC:KYYWF), despite a number of visible headwinds impacting the video games services and localisation company.
Writers’ strikes in the US, sluggish global mobile sales and the looming threat of generative AI didn’t stop the group from increasing group revenues by 10.4% on an organic basis with underlying earnings growing 10.3% to €77.3 million on a slightly reduced margin of 20.1%.
UBS analysts think it's likely Amazon.com Inc (NASDAQ:AMZN) can expand its North American retail margins to double digits over time, calling the e-commerce giant their top idea in Internet while reiterating a ‘Buy’ rating on the stock with a 12-month price target of $175 per share.
In an update to clients, they noted that margins will get a boost as the company unveils efficiency drives like regionalizing its fulfillment network, pulls levers to recoup cost inflation, reduces investment levels in moonshots such as Alexa, and generally focuses on efficiency while keeping headcount growth moderate and grows into capacity.
Analysts at Stifel GMP expect a “favourable commercialization outcome” from Awakn Life Sciences Corp (NEO:AWKN)’s planned Phase 3 trial of novel ketamine drug AWKN-P001 in combination with proprietary therapy for severe alcohol use disorder.
The company has submitted its Clinical Trial Application with ethical and regulatory approval providing a pathway to start dosing patients likely in the first quarter of 2024, the analysts noted.
The positive performance of cannabis stocks last week driven by enthusiasm around the potential rescheduling of marijuana as a lower-risk drug in the US is set to continue as progress is made on cannabis banking reform in the country, according to analysts at Water Tower Research.
The analysts wrote in a note to clients that they have heard from multiple sources that the Senate Banking Committee will vote on the Secure and Fair Enforcement (SAFE) Banking Act, which would remove penalties for companies that provide banking and other financial services to legitimate cannabis-related businesses, on September 18.