Company Notes

We are sticking with our 2026E EPS on Uber Technologies (UBER; $73.31; E/W) at $3.20 (+31% YoY) and initiate 2027E EPS of $3.80 (+19% YoY), which reflects our belief that the company’s Mobility business (51%…

We are making relatively modest changes to our 2026E EPS for Sensata (ST; $36.16; E/W), from $3.65 to $3.60 (+5% YoY), while initiating 2027E EPS at a very reasonable $3.85 (+7% YoY) after Q4 EPS…

Sensata (ST; $36.16; E/W) reported Q4 adjusted EPS of $0.88, which was slightly ahead of our consensus matching $0.86 on somewhat higher than expected sales ($918mm vs. our $913mm and the Street’s $912mm). Recall, the…

We expect a “mixed bag” from NetApp (NTAP; $101.68; E/W) when the company reports its FQ3 (Jan) results and guidance next Thursday (2/26 after market). On one hand, we assume NTAP can demonstrate at least…

We are raising our 2026E EBITDA for DoorDash (DASH; $183.00; E/W) from $3,450mm (2.6% of Gross Order Value or GOV) to $3,625mm (2.7% of GOV) after management provided support for the idea that its heightened…

We suggest investors take a cautious approach to the FQ4 (Jan) print from Dell Technologies (DELL; $115.95; E/W), scheduled for next Thursday (2/26 after market). Admittedly the stock is already down 8% since it last…

We maintain our 2026E EPS on Corning (GLW; $129.96; E/W) at $2.90, which is +15% YoY and somewhat below consensus of $3.06, following our review of the company’s recently released 10-K. Broadly speaking, the filing…

We bump up our 2026E EBITDA for Maplebear d/b/a Instacart (CART; $33.24; E/W) from $1.225B to $1.250B after the company produced generally solid Q4 results with Q1E EBITDA guidance that was in line with our…

We adjust our 2026E EPS for Belden (BDC; $150.91; E/W) from $7.70 to $7.75, vs. $7.54 in 2025, after the company produced some Q4 EPS upside with Q1E guidance that was generally in line with…

Belden (BDC; $142.23; E/W) reported Q4 non-GAAP EPS of $2.08, which beat our consensus matching $1.95 on some better-than-expected sales ($720mm vs. our and the Street’s $697mm). We estimate non-operating items were a $0.04 per…

We raise our 2026E EPS for Vertiv Holdings (VRT; $248.51; E/W) from $4.85 to $6.05 (+44% YoY) after the company produced a robust “beat and raise” that was accompanied by an “eye popping” year-end backlog,…

Vertiv Holdings (VRT; $199.62; E/W) reported Q4 non-GAAP EPS of $1.36, which was comfortably ahead of our $1.27 and the Street’s $1.29 on some better-than-expected sales of $2,880mm (vs. our $2,850mm and the Street’s $2,876mm)….

We stick with our 2026E EBITDA of $700mm for Lyft (LYFT; $16.85; O/P), which equates to another year of 30%+ profit growth, after the company produced Q4 EBITDA of $154mm (3.0% of gross bookings or…

Lyft (LYFT; $16.85; O/P) posted Q4 gross bookings of $5.074B, which compared to our $5.09B and the Street’s $5.07B, which in turn drove adjusted EBITDA of $154mm (3.0% of gross bookings or GB) that beat…

This morning, Mobileye Global (MBLY; $9.64; E/W) announced that its SuperVision and Surround ADAS technology platforms were selected by India-based OEM Mahindra & Mahindra, for at least six upcoming vehicle models, with production expected to…