All Reports

We initiate on Lucid Group (LCID: $8.19) with an Outperform and a $11 target. We believe Lucid is at a critical juncture in its ambitious commercial development plans for a luxury branded electric vehicle based…

We are adjusting our F2023/F2024E (Aug) EPS for Micron (MU; $58.63; E/W), scheduled to post FQ2E (Feb) results next Tuesday (3/28 after market), from losses of ($2.30)/($1.55) to ($2.35)/($1.75) to “catch up” with management’s most…

This morning, the European Automotive Manufacturers Association released car registration data from the region for the month of February. Overall, European car registrations (15-20% of global demand) declined 1% MoM from January or above historical…

Proterra (PTRA; $1.32; O/P) shares are still down 47% since releasing Q4 results on 3/15 and some guidance for 2023E, reflecting a combination of concerns that the company would breach its convertible debt covenants, resolved…

Jabil (JBL; $78.37; O/P) produced a healthy FQ2 (Feb) sales, margin and EPS beat, held back somewhat by higher interest costs related mainly to some higher than expected inventories that we see proving highly transitory….

Jabil (JBL; $80.33; O/P) reported FQ2 (Feb) “core” non-GAAP EPS of $1.88, which beat our $1.84 and the Street’s $1.85 on sales of $8,134mm (vs. our $8,000mm and the Street’s $8,089mm) and despite ~$0.05 of…

We refined our “bottoms up” work around our Mobileye Global (MBLY; $40.93; E/W) forecasts after reviewing the company’s recent 10-K filing. Although, there is no change to our 2023/2024E sales, gross margin, and EPS forecasts,…

Last night, the California Court of Appeal overturned a lower court’s ruling that found Proposition 22 to be unconstitutional. Prop 22, which defines app-based drivers and couriers as independent contractors with certain work-hour based benefits,…

Last night, Hyzon Motors (HYZN; $1.00) announced that Parker Meeks was appointed to CEO on a permanent basis, effective immediately, after taking charge as interim CEO back in August of last year (“CEO Transition Announced”;…

Last night, Hyzon Motors (HYZN; $1.00) announced that Parker Meeks was appointed to CEO on a permanent basis, effective immediately, after taking charge as interim CEO back in August of last year (“CEO Transition Announced”;…

This morning, Tritium (DCFC; $1.66; O/P) provided full disclosure on its H2 of C2022 results and outlook, much of which was already discussed at its Analyst Day in January (“Analyst Day Highlights Manufacturing Progress”; 1/23)….

Earlier this week (3/7), we attended Visteon’s (VC; $170.57; NR) highly informative Investor Day in New York, which highlighted attractive content trends around digital cockpit electronics, in-vehicle displays and electrification, which should remain key mobility…

We reiterate our Outperform on Jabil shares (JBL; $84.84; O/P) ahead of its FQ2 (Feb) results and outlook, scheduled for next Thursday (3/16 before market). We are comfortable with our FQ2E sales, operating margin, and…

Yesterday, we attended Visteon’s (VC; $168.55; NR) Investor Day in New York, which among other things, provided further support for the idea that Corning’s (GLW; $34.42; E/W) Automotive Glass Solutions’ business is well positioned to…

We have had some time to reflect on last Tuesday’s (2/28) Luminar Day in Orlando, Florida, which we attended in-person. The meeting provided us an opportunity to catch up on the quickly expanding investment story…