We think recent news flow out of Maplebear, doing business as Instacart (CART; $32.00; E/W), provides further support for longer term operating leverage available to the company from its high-margin advertising business, albeit in the…
DoorDash (DASH; $110.70; E/W) recently disclosed it expanded on-demand alcohol delivery services with the addition of several grocers and liquor stores, including brands under the Ahold Delhaize banner, as it also introduced a new suite…
Last night, Hyzon Motors (HYZN; $0.36) announced it has started realigning the company’s strategic priorities to better focus on “core” North American Class 8 and refuse fuel cell electric vehicle (FCEV) platforms after a comprehensive…
Yesterday, the European Automobile Manufacturers Association released car registration data from the region for the month of May, which was somewhat below seasonal trends including some weaker battery electric vehicle (BEV) registration trends that should…
We leave our F2024E (Aug) EPS for Jabil (JBL; $111.79; O/P) at $8.40 (-3% YoY) but lower F2025E EPS from $10.00 to $8.80 (+5% YoY) after FQ3 (May) lived up to Street expectations and management…
Jabil (JBL; $126.23; O/P) reported FQ3 (May) “core” non-GAAP EPS of $1.89, which was ahead of our consensus matching $1.85 on some sales upside ($6,765mm vs. our $6,500mm and the Street’s $6,525mm). Recall, JBL’s FQ3…
We raise our target on the shares of Micron (MU; $153.45; O/P) to $185 ahead of the company’s FQ3 (May) results and outlook, scheduled for next Thursday (6/26 after market). We believe recent supply chain…
We raise our post-stock split 2024/2025E EPS for Amphenol (APH; $68.80; E/W) from $1.70/$1.85 to $1.75/$1.97 for the recently completed acquisition of Carlisle Companies’ (CSL; $412.96; NR) Interconnect Technologies business or CIT as well as…
We are raising our rating on the shares of Corning (GLW; $37.25) from Equal-Weight to Outperform and set a $45 target after joining an extensive facility visit to its Sullivan Park Research & Development campus…
We reiterate our Outperform on the shares of Celestica (CLS; $56.77) and bump up our target from $60 to $65 after we had the opportunity for a “big picture” discussion with CEO Rob Mionis, who…
We think Jabil (JBL; $121.10; O/P) utilizes its FQ3 (May) results, scheduled for next Thursday (6/20 before market), to better “reset” the Street after what has proven a disappointing past 12 months by the company’s…
We raise our F2026E (Apr) EPS for NetApp (NTAP; $125.73; E/W) from $7.30 to $7.75 (+12% YoY) while maintaining F2025E forecasts at $6.90 (+6%) after attending the company’s Investor Day in New York on Tuesday…
We reiterate our Outperform on the shares of Western Digital (WDC; $76.52; O/P) and bump up our target from $95 to $100 after taking in the company’s “New Era of NAND” webcast on Monday (6/10)…
Yesterday (6/6), the shares of Maplebear, doing business as Instacart (CART; $33.78; E/W), jumped 9% after it disclosed in an 8-K filing that its Board approved a new share repurchase authorization on June 2nd of…
We raise our rating on the shares of Lyft (LYFT; $15.69) from Equal-Weight to Outperform and establish a $20 price target after attending the company’s first-ever Investor Day yesterday in New York. We think management…