We raise our F2026/F2027E (Jan) EPS for Dell Technologies (DELL; $125.92; E/W) from $9.50/$11.00 to $10.00/$11.70 after it produced a healthy FQ3 (Oct) “beat and raise” that was again led by robust AI server demand…
This morning, the European Automobile Manufacturers Association released car registration data from the region for the month of October, which was basically in line with MoM seasonal patterns, albeit with some positive battery electric vehicle…
Earlier this week, we spent a day in St. Louis at the SC25 conference where we sat in on a few presentations, walked the trade show floor, and spoke with various managers from leading power…
We reiterate our Outperform rating and $290 price target on the shares of TE Connectivity (TEL; $213.78) after attending the company’s Investor Day yesterday (11/20) in Philadelphia where we heard presentations from a range of…
Yesterday (11/18), we attended the SC25 conference in St. Louis, MO where we toured Vertiv Holdings’ (VRT; $164.86; E/W) trade show booth that included some remarks from CEO Giordano Albertazzi. We also sat in on…
Yesterday (11/18), we attended Aptiv’s (APTV; $75.77; E/W) Investor Day in New York where we heard presentations from and chatted with key leaders across the company including from a soon to be separated Electrical Distribution…
We are generally comfortable with our estimates for NetApp (NTAP; $108.42; E/W) ahead of its FQ2 (Oct) results and outlook, scheduled for next Tuesday (11/25 after market). We think recent enterprise storage spending trends have…
We expect Dell Technologies (DELL; $127.55; E/W) to produce some solid top line upside with its FQ3 (Oct) results and outlook, scheduled for next Tuesday (11/25 after market). However, we think the Street will be…
We reiterate our Outperform and raise our target from $28 to $30 on the shares of Lyft (LYFT; $23.14) after hosting an investor meeting last Wednesday (11/12), with Erin Rheaume, Senior Director of IR, at…
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,…