Consumer Discretionary

Berenberg raised Tesla (NASDAQ:TSLA) target price from $200 to $210

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Berenberg analyst Adrian Yanoshik said in a research report that he downgraded Tesla (NASDAQ:TSLA) from “buy” to “hold” and raised its target price from $200 to $210. The analyst noted that Tesla’s new factory’s advantages in terms of capital and labor efficiency provide the company with years of growth opportunities, and that its “false fear of price wars” seems to have been accepted by the market. Adrian now sees less upside for Tesla’s share price, further noting that Tesla’s entry into smaller segment car product pricing will present a huge sales growth opportunity for the company, but that growth may take time. The analyst said that “Tesla’s valuation now has less room for disappointment.”

Berenberg raised Tesla (NASDAQ:TSLA) target price from $200 to $210 Read Post »

Morgan Stanley: lowered Nordstrom (NYSE:JWN) price target to $18 from $19

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Morgan Stanley: Gives Nordstrom, Inc. (NYSE:JWN) an underweight rating and lowers its price target to $18 from $19. The company reported fourth-quarter results that exceeded the “reduced standard,” but fundamentals remain under pressure and earnings per share risk of a negative revision.

Morgan Stanley: lowered Nordstrom (NYSE:JWN) price target to $18 from $19 Read Post »

Jefferies: Maintain Tesla(NASDAQ:TSLA) “Buy” rating and raise its price target to $230

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Analysts at Jefferies said in a research note that they maintained their “buy” rating on Tesla (NASDAQ:TSLA) and raised their price target to $230 from $180. The analyst said Tesla’s investor day last week showed that the company remains largely a “Day 1” operating model. The analyst noted that no new product launches do not mean a significant delay in profit growth for Tesla. Jefferies believes that Tesla’s further expansion of Model 3 and Model Y sales through dynamic pricing may limit the range of earnings the company will achieve in 2023 and 2024, but it will be very favorable for its free cash flow and return on invested capital. Jefferies raised Tesla’s operating income forecasts for 2023 and 2024 by 10% and 8%, respectively, and its first quarter is expected to be the trough of Tesla’s earnings.

Jefferies: Maintain Tesla(NASDAQ:TSLA) “Buy” rating and raise its price target to $230 Read Post »

Lucid Group(NASDAQ:LCID) Q4 2022 revenue of $257.7 million, compared to $26.39 million in the same period last year

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February 22, 2023 — Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest-range, fastest-charging electric car on the market, today announced financial results for its fourth quarter and full year ended December 31, 2022. Lucid Group, Inc. (NASDAQ: LCID)  reported a Q4 diluted loss  of $0.28 per share,Three analysts polled by Capital IQ expected a loss of $0.42. Revenue for the quarter ended Dec. 31 was $257.7 million, Four analysts surveyed by Capital IQ expected $273.6 million. The Company produced 3,493 vehicles during Q4 at its manufacturing facility in Arizona and delivered 1,932 vehicles during the same period. On a full-year basis, the Company produced 7,180 vehicles, exceeding the 2022 annual production guidance of 6,000 to 7,000 vehicles, and delivered 4,369 vehicles in 2022. Lucid today also announced its 2023 annual production guidance of 10,000 to 14,000 vehicles. Lucid reported fourth quarter revenue of $257.7 million and annual revenue

Lucid Group(NASDAQ:LCID) Q4 2022 revenue of $257.7 million, compared to $26.39 million in the same period last year Read Post »

Carvana(NYSE:CVNA) Q4 2022 Revenue totaled $2.837 billion, down 24% year-over-year

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February 23, 2023 – Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars online, today announced financial results for the quarter and full year ended December 31, 2022. Carvana Co. (NYSE: CVNA) reported a Q4 net loss of $7.61 per share,Analysts polled by Capital IQ, had been expecting a $2.40 per share loss. Summary of Q4 2022 and 2022 Results Q4 2022 Financial Results: Retail units sold totaled 86,977 a decrease of 23%. Revenue totaled $2.837 billion, a decrease of 24%. Total gross profit was $193 million, a decrease of 63%. FY 2022 Financial Results: Retail units sold totaled 412,296, a decrease of 3%. Revenue totaled $13.604 billion, an increase of 6%. Total gross profit was $1.246 billion, a decrease of 35%. Total gross profit per unit was $3,022, a decrease of $1,515 , Non-GAAP Total GPU (defined above) was $3,337. In FY 2022, we

Carvana(NYSE:CVNA) Q4 2022 Revenue totaled $2.837 billion, down 24% year-over-year Read Post »

Best Buy(NYSE:BBY) Q4 2023 revenue of $14.735 billion,down 9.3% year-over-year

/ / Consumer Discretionary /

March 2, 2023 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week fourth quarter ended January 28, 2023 (“Q4 FY23”), as compared to the 13-week fourth quarter ended January 29, 2022 (“Q4 FY22”). Best Buy Co., Inc. (NYSE: BBY)  reported fiscal Q4 adjusted earnings  of $2.61 per diluted share, Analysts polled by Capital IQ expected $2.14. Revenue for the quarter ended Jan. 28 was $14.74 billion, Analysts surveyed by Capital IQ expected $14.80 billion. For fiscal 2024, the retailer said it expects adjusted earnings of $5.70 to $6.50 per diluted share. Analysts surveyed by Capital IQ expect $6.67. The company expects revenue to be between $43.80 billion and $45.20 billion for the fiscal year. Analysts polled by Capital IQ expect $45.76 billion. Comparable Sales Declined 9.3% GAAP Diluted EPS of $2.23 Non-GAAP Diluted EPS of $2.61 Increased Quarterly Dividend 5% to $0.92 per Share Expects FY24

Best Buy(NYSE:BBY) Q4 2023 revenue of $14.735 billion,down 9.3% year-over-year Read Post »

Costco Wholesale (NASDAQ:COST) reported net sales of $17.06 billion in February, up 4.7% year-over-year

/ / Consumer Discretionary /

Costco Wholesale (NASDAQ:COST) reported For the four-week reporting month of February, ended February 26, 2023, the Company reported net sales of $17.06 billion, an increase of 4.7 percent from $16.29 billion last year. Lunar New Year/Chinese New Year occurred on January 22, 10 days earlier this year. The shift positively impacted February’s Other International and Total Company sales by approximately 2% and 0.25%, respectively. For the twenty-six week period ended February 26, 2023, net sales were $116.06 billion, an increase of 7.1 percent from $108.39 billion last year.

Costco Wholesale (NASDAQ:COST) reported net sales of $17.06 billion in February, up 4.7% year-over-year Read Post »

Costco Wholesale(NASDAQ:COST) Q2 2023 net sales of $54.24 billion , up 6.5% year-over-year

/ / Consumer Discretionary /

March 2, 2023 – Costco Wholesale Corporation (Nasdaq: COST) today announced its operating results for the second quarter (twelve weeks) and the first 24 weeks of fiscal 2023, ended February 12, 2023. Costco Wholesale Corporation (Nasdaq: COST)  reported fiscal Q2 net income  of $3.30 per diluted share,Analysts polled by Capital IQ forecast $3.23. Revenue for the quarter ended Feb. 12 was $55.27 billion, Analysts surveyed by Capital IQ projected $54.68 billion. Net income for the quarter was $1,466 million, $3.30 per diluted share. Last year’s second quarter net income was $1,299 million, $2.92 per diluted share. Net income for the first 24 weeks was $2.83 billion, or $6.37 per diluted share, compared to $2.62 billion, $5.90 per diluted share, last year. Net sales for the quarter increased 6.5% percent, to $54.24 billion, from $50.94 billion last year. Net sales for the first 24 weeks increased 7.3% percent, to $107.68 billion,

Costco Wholesale(NASDAQ:COST) Q2 2023 net sales of $54.24 billion , up 6.5% year-over-year Read Post »

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