Truist Securities analyst Jamie Cook initiates coverage on Caterpillar with a Buy rating and announces Price Target of $390.
Truist Securities analyst Jamie Cook initiates coverage on Caterpillar with a Buy rating Read Post »
Boeing February Booked Gross Orders Include 4 787-9s For Royal Brunei Airlines, 10 737 MAXs And 1 777 Freighter; Delivered 17 737 MAXs, One P-8, 7 787-9 Dreamliners, 2 767s In February; Delivered 27 Jetliners In February.
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 $172, cut $22, reflects a 24x multiple on our 2025 EPS estimate, below BA’s recent historical forward average, on rising regulatory and operational risk. We cut our 2024 EPS estimate by $0.17 to $3.17 and 2025’s by $0.59 to $7.17. Southwest Airlines (LUV 29 ***) said today that it sees 42% fewer deliveries of 737 MAX aircraft from BA in 2024 than originally expected, and, as a result, would be cutting its capacity in 2024. We view this development as an illustration of the difficulty in scaling production and tightening quality control measures at the same time amid heightened regulatory scrutiny. We note that the Department of Justice has also convened a grand jury over the incident on Alaska Air flight 1282. We
CFRA Keeps Sell Opinion On Shares Of The Boeing Company Read Post »
Boeing (BA) reported Tuesday it delivered 27 aircraft in February, the same number as January but down from 28 a year earlier. The plane manufacturer booked 15 gross orders last month, up from 3 in January and 5 a year earlier, according to data on its website.
Boeing’s February Deliveries Remain Largely Flat; Orders Rise 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 price target by $40 to $414, 30x our FY 25 (Aug.) EPS view, a premium to IT consulting peers and ACN’s three-year average (~26.5x) given its consistent track record, large net cash position ($7.0B exiting Nov-Q), and industry tailwinds associated with AI. We maintain our FY 24 EPS view at $12.34, raise our FY 25 view by $0.20 to $13.81, and initiate our FY 26 estimate at $15.20. Industry commentary has been mixed regarding the current environment, but we think ACN is well positioned for either 1) a continued customer focus on cost-reduction initiatives, benefiting Managed Services, or 2) a resumption of large-scale transformation projects given its strong reputation and leadership position in generative AI (GenAI). We see ACN as a clear frontrunner in
CFRA Maintains Buy Recommendation On Shares Of Accenture Plc Read Post »
Barclays analyst Julian Mitchell maintains 3M with a Equal-Weight and raises the price target from $110 to $111.
Barclays analyst maintains 3M with a Equal-Weight Read Post »
JP Morgan analyst Seth Seifman upgrades General Electric (NYSE:GE) from Neutral to Overweight and raises the price target from $166 to $180.
JPMorgan says General Electric has proven itself as the premier large-cap name in commercial aerospace in terms of where it stands in the business cycle, its balance sheet and management team. The analysts raise GE’s rating to overweight from neutral noting that the stock has already outperformed the broader market by 22% year-to-date. “Valuation is an obstacle for the stock but it is the only obstacle for us right now and instead of trying to time the market, we are overweight on the stock,” the analysts say.
GE Gets New Bull After Outperforming Market Year-To-Date Read Post »
Jefferies analyst Trevor Williams maintains Mastercard with a Buy and raises the price target from $520 to $540.
Jefferies analyst maintains Mastercard with a Buy Read Post »
Jefferies analyst Trevor Williams maintains Visa (NYSE:V) with a Buy and raises the price target from $305 to $320.
Jefferies analyst Trevor Williams maintains Visa (NYSE:V) with a Buy 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 price of $174, up $34, reflects a 29x multiple applied to our 2025 EPS estimate, in line with GE’s aerospace peers. We lift our 2024 EPS estimate by $0.09 to $4.58 and 2025’s by $0.17 to $5.99. The spinoff of GE’s renewables and power unit, GE Vernova, has now been officially slated for April 2, 2024, and GE will be a pure-play aerospace firm thereafter. We like GE’s prospects as a key supplier to a commercial aerospace industry that has considerable pent-up demand for new planes. However, we do see some risk for GE, notably its reliance on major original equipment manufacturer The Boeing Company (BA 200 **). In our view, BA is facing a bit of a high wire act, trying to iron
CFRA Keeps Hold Opinion On Shares Of General Electric Company Read Post »
General Electric’s (GE) valuation is expected to receive a boost from the improving free cash flow of its renewable energy business, GE Vernova, BofA Securities said in a report Thursday. The brokerage maintained its buy rating on the stock as it raised its price target to $175 from $162, taking into account GE Vernova’s “better FCF trajectory” and GE Aerospace’s revenue growth visibility. GE Vernova, which is expected to spin off from GE on April 2, reaffirmed its full-year 2024 outlook on Wednesday for revenue of $34 billion to $35 billion, with an adjusted EBITDA margin being at the higher end of the mid-single digit range. The guidance looks conservative as GE Vernova’s backlog “provides a high degree of visibility, with [about] 50% of 2025 revenue already in the backlog,” BofA said. “The pending spinoff of Vernova creates a catalyst for re-rating over time. Over the medium term, improving FCF