All Reports

Our latest look at aggregate inventories up and down the supply chain after CQ3 EPS season suggested another quarter of general improvements. Specifically, our survey across OEMs, component makers, electronics manufacturing service (EMS) providers and…

Earlier this week, Jabil (JBL; $201.25; O/P) announced it is expanding on its strategic partnership with Inno, which is a metal parts manufacturer, to manufacture battery energy storage system (BESS) enclosures from a new facility…

Yesterday (11/12), we attended Nextracker’s (NXT; $88.32; E/W) Capital Markets Day at its headquarters in Fremont, CA where management announced a corporate rebrand under an updated name of Nextpower and rolled out a long-term financial…

We reiterate our Outperform and $50 target on the shares of Maplebear d/b/a Instacart (CART; $37.33) after Q3 results and guidance comfortably lived up to Street expectations, with robust free cash flows (FCF) that suggest…

Last week, we hosted investor meetings in Boston for Jabil (JBL; $213.71; O/P), where we were joined by Greg Hebard, CFO as well as Matt Crowley, EVP, Intelligent Infrastructure Global Business Unit (46% of F2026E…

On Tuesday (11/4), we hosted virtual investor meetings for the management team of Plexus (PLXS; $143.32; E/W), which included participation from CEO Todd Kelsey, CFO Patrick Jermain as well as Mike Running, Regional President, Americas,…

We are raising our rating on the shares of Sandisk (SNDK; $207.69) from Equal-Weight to Outperform and establishing a $280 target after the company’s FQ1 (Sept) results and guidance suggested a much tighter NAND supply…

We think Lyft’s (LYFT; $21.25; O/P) healthy Q3 results and guide, including more positive talk into its 2026E and 2027E thinking, emphasized how the company seems poised to accelerate gross bookings (GB) growth, both in…

The shares of DoorDash (DASH; $196.46; E/W) declined 17% today after the company produced Q3 results and guidance that more than lived up to Street expectations. However, DASH also warned of a much-heightened level of…

We bump up our 2025E EPS for Benchmark Electronics (BHE; $44.21; O/P) from $2.30 to $2.34 (+2% YoY) while maintaining 2026E EPS at $2.55 (+9%), albeit with rising optimism for returning growth, after the company…

Last night, Jabil (JBL; $209.22; O/P) announced a definitive agreement to acquire Hanley Energy Group for $725mm plus a contingent consideration of up to $58mm in a transaction that adds a range of power system…

We are maintaining our 2025/2026E EBITDA for Uber Technologies (UBER; $93.90; E/W) at $8.7B (+33% YoY) and $10.95B (+26%), respectively, after the company posted Q3 results that were basically in line with our and Street expectations…

We reiterate our Outperform and raise our target from $170 to $185 on the shares of Sanmina (SANM; $140.34) after a healthy FQ4 (Sept) EPS beat from its “legacy” business. SANM also indicated the just…

Uber Technologies (UBER; $99.72; E/W) posted Q3 adjusted EBITDA of $2,256mm (4.5% of sales), which was basically in line with our forecast of $2,250mm (4.6% of gross bookings) but slightly below the Street’s $2,267mm (4.6%…

We reiterate our Outperform and raise our outdated price target from $350 to $560 on the shares of Fabrinet (FN; $443.00; O/P) as we up our F2026/F2027E (Jun) EPS from $11.90/$13.20 to $12.90/$14.50 (+27% and…