All Reports

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We reiterate our Outperform and raise our outdated price target from $350 to $560 on the shares of Fabrinet (FN; $443.00; O/P) as we up our F2026/F2027E (Jun) EPS from $11.90/$13.20 to $12.90/$14.50 (+27% and…

Sanmina (SANM; $140.34; O/P) reported FQ4 (Sep) non-GAAP EPS of $1.67, which was comfortably ahead of our $1.58 and the Street’s $1.57 with some solid sales upside ($2,096mm vs. our $2,068mm and the Street’s $2,057mm)….

Last week, the European Automobile Manufacturers Association released car registration data from the region for the month of September, which was somewhat above its usually healthy MoM seasonal patterns. Specifically, European vehicle registrations, which represents…

This morning, Vertiv Holdings (VRT; $191.35; E/W) announced it signed an agreement to acquire PurgeRite Intermediate from Milton Street Capital for ~$1B in cash. PurgeRite is a provider of mechanical flushing, purging and filtration services…

This morning, IREN (IREN; $60.75; NR), a North American-based data center operator, announced it signed a five-year GPU cloud services contract with Microsoft (MSFT; $517.81; NR), valued at $9.7B, which also includes an agreement to…

We think news flow this week from Uber Technologies (UBER; $96.43; E/W) only adds attention to what management says on the autonomous rideshare front with its Q3 results and outlook on Tuesday (11/4 before market)….

The shares of Maplebear, doing business as Instacart (CART; $36.10; O/P), are down 30% since August 11th, which we think offers a buying opportunity into the company’s Q3 print on Monday, November 10th (before market)….

We are raising our F2026/F2027E (Jun) EPS for Western Digital (WDC; $138.13; O/P) from $6.70/$7.60 to $7.45/$8.45 (up ~50% and ~15% YoY respectively) after the company produced a robust FQ1 (Sep) “beat and raise” that…

We bump up our 2025/2026E EPS for Aptiv (APTV; $82.12; E/W) from $7.55/$8.20 to $7.75/$8.55 after the company produced a healthy Q3 beat, albeit with Q4E guidance that was somewhat below our and Street thinking….

We are raising our 2025/2026E EPS for Belden (BDC; $122.26; E/W) from $7.30/$7.45 to $7.42/$7.70 after the company produced some Q3 EPS upside with Q4E guidance that was ahead of our and Street estimates. BDC…