All Reports

We remain bullish on the shares of Uber Technologies (UBER; $43.02; O/P) ahead of its Q3 print next Tuesday (11/7 before market) and stick with our Q3E gross bookings of $34.5B (+3% QoQ and +19%…

We raise our rating on the shares of Western Digital (WDC; $41.80) from Equal-Weight to Outperform and establish a target of $52. We are encouraged by the formal announcement that WDC plans to spin-off its…

Sensata (ST; $34.10; O/P) reported Q3 adjusted EPS of $0.91, which was slightly ahead of our consensus matching $0.90 on basically as expected sales ($1,001mm vs. our $1,000mm and the Street’s $1,004mm). Recall, the company’s…

This morning, CommScope (COMM; $1.41; E/W) negatively pre-announced Q3 results and warned on its Q4E outlook. Specifically, COMM now expects Q3E sales of $1.60B (-17% QoQ and -33% YoY) and $249mm (15.6% of sales), which…

We assume Lyft’s (LYFT; $9.26; E/W) Q3 results and outlook, scheduled for Wednesday, November 8th (after market), are at least around near-term targets given recent travel indicators and executive leadership changes, which have emphasized rational…

Last Thursday (10/26), Hyzon Motors (HYZN; $0.87) announced a revised commercial supply agreement with TR Group, which is a heavy-duty truck fleet operator in New Zealand. Specifically, Hyzon will now supply up to 20 fuel…

We adjust 2023/2024E EPS for Mobileye Global (MBLY; $35.20; E/W) from $0.73/$0.98 to $0.78/$0.87 after it produced somewhat better Q3 sales than forecasts, albeit with a significant operating profit beat. Q3 EPS was $0.22 vs….

We significantly increase our F2024/F2025E (Mar) EPS for Nextracker (NXT; $36.40; E/W), from $1.63 /$1.82 to $2.32/$2.58, after the company delivered a big “beat and raise”. The FQ2 (Sep) print further highlighted NXT’s advantaged position…

We maintain F2024E (Sept) EPS for Plexus (PLXS; $94.09; E/W) at $5.70 after its solid FQ4 (Sep) EPS beat and FQ1E (Dec) guidance that was basically in line with our forecasts. In addition, PLXS reiterated…

We adjust F2024/F2025E (Jun) EPS for Seagate (STX; $65.84; E/W) from ($0.03)/$2.65 to ($0.15)/$3.00 after its FQ1 (Sep) results generally lived up to recently lowered targets, with puts and takes, but FQ2E (Dec) guidance was…

We reiterate our Outperform and $34 target on the shares of Flex (FLEX; $23.22) after the company delivered further on its operating margin and cash flow potential, despite greater than expected macro headwinds now surfacing…

Mobileye Global (MBLY; $33.96; E/W) reported Q3 adjusted EPS of $0.22, which beat our consensus matching $0.17 on sales of $530mm (+18% YoY and +17% QoQ) that were somewhat ahead of our $520mm and the…

We adjust 2023E EPS for Benchmark Electronics (BHE; $22.97; O/P) from $2.03 to $2.05 after Q3 results and outlook lived up to our expectations, albeit with some “puts and takes”. Although, we also modify 2024E…

We adjust 2023/2024E EPS for Amphenol (APH; $79.66; E/W) from $2.88/$3.08 to $2.95/$3.15 after its Q3 print delivered some EPS upside and Q4E guidance was basically in line with our and Street thinking, albeit with…

We assume DoorDash’s (DASH; $73.12; E/W) Q3 results, and outlook, at least live up to expectations next Wednesday (11/1 after market), even with more questions about consumer spending on its “core” restaurant delivery. We model…