LYFT: Big Buying Opportunity Ahead of Earnings
The shares of Lyft (LYFT; $12.19; O/P) are now down 40% since recent highs in late-March, including -22% since the company’s Investor Day on June 6th, to only 7.9X our 2025E EV/EBITDA. This is despite…
The shares of Lyft (LYFT; $12.19; O/P) are now down 40% since recent highs in late-March, including -22% since the company’s Investor Day on June 6th, to only 7.9X our 2025E EV/EBITDA. This is despite…
We expect support for our Outperform rating on the shares of Uber Technologies (UBER; $64.84; O/P) with its Q2 results next Tuesday (8/6 before market). Specifically, we expect our robust top line growth forecasts and…
We assume DoorDash (DASH; $106.31; E/W) still aims to be within its Q2 guidance range when it reports on Thursday (8/1 after market) and that investor expectations are set appropriately for these goals. Recall, management…
This morning, CommScope (COMM; $2.20; NR) positively pre-announced Q2 sales and non-GAAP EBITDA. Specifically, the company disclosed preliminary Q2E sales and EBITDA of $1.39B (+19% QoQ) and $302mm (21.7% of sales), which is significantly ahead…
This morning, Amkor Technology (AMKR; $38.18; E/W) announced a long-awaited signing of a non-binding preliminary memorandum of terms with the U.S. Department of Commerce to receive up to $600mm in funding through the U.S. CHIPS…
We believe the 19% decline in the shares of Celestica (CLS; $51.07; O/P), which has occurred over just the past seven trading days, represents a major buying opportunity in the stock, especially given its 4%…
Earlier today, the California Supreme Court ruled the state’s Proposition 22, which was passed in 2022, as constitutional after a group of rideshare drivers and labor unions challenged the constitutionality of the legislation. Recall, Proposition…
We raise our F2024/F2025E (Sep) EPS for Plexus (PLXS; $129.59; E/W) from $5.10/$6.20 to $5.45/$6.50 after the company produced a healthy FQ3 (Jun) beat and FQ4E (Sep) guidance that exceeded our prior thinking. Specifically, FQ3…
We adjust our 2024/2025E EPS for Amphenol (APH; $62.88; E/W) from $1.75/$1.97 to $1.77/$1.97 after the company produced its latest in a series of “beat and meet” quarters, albeit with less upside than we have…
We reiterate our Outperform, raise our target from $180 to $190, as we bump up our F2024/F2025E (Sep) EPS for TE Connectivity (TEL; $156.85) from $7.45/$8.15 to $7.55/$8.20 after its healthy FQ3 (Jun) beat and…
We raise our F2025E (Mar) EPS for Flex (FLEX; $31.76; O/P) from $2.35 to $2.45 after the company handily beat FQ1 (Jun) expectations, delivering EPS of $0.51, which was well ahead of our consensus-matching $0.41,…
Celestica (CLS; $53.39; O/P) reported Q2 non-IFRS EPS of $0.91, which beat our $0.80 and the Street’s $0.81 on better-than-expected sales of $2,392mm (vs. our $2,250mm and the Street’s $2,249mm). Recall, CLS’ Q2 outlook called…
Plexus (PLXS; $116.15; E/W) reported FQ3 (Jun) non-GAAP EPS of $1.45, which beat our $1.30 on some better-than-expected operating profits and margins (5.8% of sales vs. our 5.4%) despite some lower-than-expected sales ($961mm vs. our…
Amphenol (APH; $63.54; E/W) reported Q2 non-GAAP EPS of $0.44, which was ahead of our consensus matching $0.41 on better-than-expected sales ($3,610mm vs. our $3,375mm and the Street’s $3,390mm). As per the table below, operating…
Flex (FLEX; $29.72; O/P) reported FQ1 (Jun) adjusted EPS of $0.51, which handily beat our consensus matching $0.41 on sales of $6,314mm that were also higher than our $5,950mm and the Street’s $5,904mm. By comparison,…