Company Notes
January 25, 2023
TE Connectivity (TEL; $124.65; E/W) reported FQ1 (Dec) non-GAAP EPS of $1.53 vs. our $1.50 and the Street’s $1.51 on some sales upside that was led by auto markets ($3,841mm vs. our $3,750mm and consensus…
January 24, 2023
We raise our target on the shares of Jabil (JBL; $81.17; O/P) from $85 to $95, which is a bit of a “housekeeping call” after our bullish meetings at the Consumer Electronics Show in Las…
January 23, 2023
The shares of Seagate (STX; $63.23; E/W) have now surged 26% just since late-December lows (including +7% today) to levels last seen in mid-September, ahead of the company’s FQ2 (Dec) results and outlook on Wednesday…
January 23, 2023
This morning, Tritium (DCFC; $1.40; O/P) formally disclosed that it signed a new DC fast charger supply agreement with evyve, which is a fast and ultra-fast charging network operator in the United Kingdom. We think…
January 23, 2023
We expect the most recent rally in the shares of Flex (FLEX; $24.56; O/P), which are +17% since 12/28/22, to be more than confirmed with the release of its FQ3 (Dec) results and outlook on…
January 23, 2023
Last Thursday (1/19), we attended Tritium’s (DCFC; $1.31; O/P) Analyst Day in Lebanon, TN, where we discussed the company’s business plan and expanding EV charging opportunity with CEO Jan Hunter; CFO Rob Topol; David Toomey,…
January 20, 2023
Earlier this week, Hertz Global Holdings (HTZ; $17.07; NR) announced it is expanding on an existing partnership with Uber Technologies (UBER; $30.25; O/P) in a move that is focused on making Uber’s network more attractive…
January 20, 2023
Last night, Proterra (PTRA; $4.87; O/P) announced plans to concentrate its electric bus and battery manufacturing at its facilities in South Carolina, leading the company to exit its plant in City of Industry, CA, which…
January 17, 2023
This morning, Tritium (DCFC; $1.76; O/P) provided a business update ahead of its Analyst Day on Thursday (1/19), which will be hosted at its new manufacturing facility in Lebanon, TN. The press release highlighted continued…
January 17, 2023
We reduce our 2023E EPS for Corning (GLW; $36.07; E/W) from $2.20 to $1.95 (vs. consensus of $2.28) to better account for ongoing seasonal pressures facing the company in most of its businesses during Q1E,…
January 17, 2023
We raise our target on the shares of Flex (FLEX; $24.03; O/P) to $30 after the company announced on Friday (1/13 after the close) that its Nextracker subsidiary filed an S-1 as part of plans…
January 13, 2023
Due to a reallocation of resources, Fox Advisors is discontinuing coverage of Swvl Holdings (SWVL – $0.24 – Last Rating: Not Rated – Price Target: NA). Effective immediately, our rating, price target, disclosures and estimates…
January 12, 2023
We think some recent “proof points” out of Uber Technologies (UBER; $28.92; O/P) further support the idea that the company is making progress towards achieving its goal to fully electrify its global rideshare and delivery…
January 10, 2023
Our trip to the Consumer Electronics Show (CES) raised more questions in our minds about Aptiv’s (APTV; $99.49; E/W) just completed acquisition of Wind River and the company’s need to “own” so many sub-system pieces…
January 9, 2023
This morning, Raven SR offered up in a press release some additional details on its previously announced plans to partner with Chevron New Energies, a subsidiary of Chevron (CVX; $175.46; NR) and Hyzon Motors (HYZN;…