Analysts at UBS have launched coverage on three electric vehicle (EV) charging companies on their view that there are opportunities within the space as EV adoption accelerates.
They initiated coverage on Blink Charging Co (NASDAQ:BLNK), which closed at US$3.06 on Wednesday, and ChargePoint Holdings, which closed at US$5.02, without a rating or price target for either stock.
Analysts at Jefferies have reiterated their ‘Buy’ rating and upped their price target from US$575 to US$610 for Costco Wholesale Corporation (NASDAQ:COST) following its strong fourth quarter results with both revenue and adjusted earnings per share beating the consensus expectation.
Costco shares traded up 2% at US$564.13 shortly before the market close on Wednesday.
Analysts at UBS awarded e.l.f. Beauty, Inc. (NYSE:ELF) a ‘Buy’ rating as they initiated coverage of the cosmetics brand, saying its growth runway is “a thing of beauty.”
What’s more, their price target of $138 per share implies 26% upside from current levels.
Stelco Holding’s share price could come under pressure if a rumored and "potentially ambitious bid" for United States Steel Corporation (NYSE:X) (US Steel) proceeds due to the possibility of significant share dilution, according to analysts at Stifel.
However, they believe that the likelihood of a successful bid is low given the significant financing requirements and complexity a takeover would involve.
Deutsche Bank has revised Tesla Inc (NASDAQ:TSLA) third quarter delivery estimates, projecting potential shortfalls in production due to global plant upgrades and Project Highland.
Analysts now predict deliveries of 440,000 units during 3Q, marking a 6% decrease from their previous estimate of 455,000 units.
Analysts at Berenberg, Gossler & Co indicated on Wednesday that artificial intelligence should not be seen as a threat but instead viewed practically.
“The specialisation of markets creates strong barriers to entry, meaning that AI should be an opportunity, not a threat,” analysts at Berenberg said in a broker note on Wednesday.
Reabold Resources PLC (AIM:RBD)’s West Newton drilling asset in West Yorkshire is “a potential company maker”, Cavendish analysts stated in a Wednesday research note.
Reabold revealed that the Environment Agency has issued the variation of the permit for the West Newton B wellsite, allowing for for the use of oil-based fluids within the Permian formations during drilling and testing operations.
Novo Nordisk (NYSE:NVO)’s stellar growth is unlikely to slow this year, according to Stifel, which was updating its views after a call with the Danish pharma’s management.
“Our main takeaway is that we should not expect any inflexion in the strong growth momentum that it had year-to-date,” said the broker.
Tobacco multinational Imperial Brands PLC (LSE:IMB) is gearing up for its pre-close trading update on 5 October amid a drastically changing landscape in the contentious industry.
Recent research from Barclays sees the cigarette industry declining 3% per annum on an earnings (before interest and tax) basis, though growth in NGPs (or next-generation products, comprising vapes, heated products and other cigarette alternatives) could balance this out.
Barclays has struck a note of caution ahead of interim results at food retailer J Sainsbury PLC on 2 November.
The stock has fallen for the second day in a row, down 1.8% at 256.90p, after Barclays became the latest broker, following UBS yesterday, to highlight an easing in general merchandise (GM) sales.
Marriott International (NYSE:MAR) said its adjusted diluted earnings per share (EPS) could rise 25% to 29% year-over-year in 2023, and at a 10% to 15% two-year compound annual growth rate to reach $10.10 to $11.45 in 2025.
Ahead of a meeting with analysts and institutional investors in Florida on Wednesday, the hotel chain said it expects its global revenue (RevPAR) to grow at a two-year compound annual growth rate of 3% to 6% from 2023 to 2025.
Wishpond Technologies Ltd. (TSX-V:WISH, OTCQX:WPNDF)’s new Sales Email AI feature will provide users with personalization that is unique from traditional automated responses, according to PI Financial analysts.
In an update to clients, they noted the new feature also significantly enhances the PersistIQ platform by creating more efficient and effective communication.
Flutter Entertainment PLC (LSE:FLTR), the betting operator, could be moving its primary listing to the US by mid-2024, analysts at Jefferies reckon, with the group’s US sportsbook FanDuel already profitable and dominating in terms of market share.
Plans to launch a secondary listing Stateside are already underway and according to the US bank, it could happen by the fourth quarter of 2023 or in the first quarter of 2024, with a primary listing targeted for the middle of next year.
Petershill Partners PLC (LSE:PHLL), the closed-ended private equity fund run by Goldman Sachs, has been downgraded by UBS as the shares' large discount is not expected to improve much in the foreseeable future.
At the start of the month UBS flagged the near-50% discount to the theoretical valuation the company would warrant as an "actual private market manager".
Wizz Air Holdings PLC (AIM:WIZZ) may not be as badly impacted by checks for issues in Pratt & Whitney (P&W) engines as originally expected, analysts have said.
Some Wizz aircraft will ultimately be grounded due to advanced checks for potential microscopic issues in P&W geared turbofan engines, Liberum analysts acknowledged.
ASOS PLC (LSE:ASC), the online fashion retailer, is focused on a turnaround strategy which shifts inventory faster to allow it to be a more cash-generative business, a move analysts at Barclays believe the company is making progress on, even if “execution has not been totally clean”.
Removing stock by 30% during the 2023 financial year through write-downs, an increase in discounts and a reduction to intake, ASOS is also showing early signs of improving the number of products being sold at full price.
International Distributions Services PLC (LSE:IDS) has received a share price target upgrade from UBS, which states that valuing its UK postal arm Royal Mail at zero, as the market seems to be doing currently, is too harsh.
Currently, UBS estimates that all of the market value of IDS can be attributed to European parcels arm GLS, hence the zero-rating implied for Royal Mail.
Avingtrans PLC (AIM:AVG) rallied after an early drop as house broker Cavendish said results today were slightly ahead of its forecasts.
Revenue rose by 17.5% to £116 million in the year to end May 2023, while pretax profit improved by 7% to £7.47 million.
It’s time to take profits in British Gas-owner Centrica PLC, according to Morgan Stanley (NYSE:MS).
Investors took the advice and shares are trading 4.1% lower at 159.40p.