Selected stock price target news of the day - October 14th, 2024

By: Matthew Otto

Saratoga Reports Financial Performance for Fiscal Q2 2025 with Increased NII and Dividend Stability

Saratoga Investment Corp. reported financial results for its fiscal second quarter 2024. Assets under management (AUM) stood at $1.04 billion, a decline of 5.3% year-over-year and 5.0% from the previous quarter. Net Asset Value (NAV) increased slightly to $372.1 million, up from $367.9 million last quarter. NAV per share also rose to $27.07, compared to $26.85 in the prior quarter.

Total investment income for the quarter was $43.0 million, representing a 21.1% increase from $35.5 million in the same period in 2023, and an 11.2% rise from $38.7 million in the preceding quarter. Adjusted Net Investment Income (NII) per share increased by 26.7% from the prior quarter to $1.33, reflecting the reversal of $7.9 million in previously reserved interest from the repayment of the Knowland investment. Earnings per share rose to $0.97, up from $0.48 in the previous quarter.

Saratoga saw repayments of $60.1 million in the quarter, while originations were modest at $2.6 million. Return on equity (ROE) for the last twelve months was 5.8%, down from 9.6% a year ago, but the annualized quarter ROE increased to 14.4%. Cash and cash equivalents rose to $162.0 million.

Mixed Analyst Sentiment and Target Adjustments

Compass Point analyst Casey Alexander maintained a Buy rating while raising the price target from $24.75 to $26.25.
B. Riley Securities analyst Bryce Rowe reiterated a Neutral rating and the price target at $25.
Oppenheimer analyst Mitchel Penn maintained a Perform rating and increased the price target from $23 to $25.
Ladenburg Thalmann analyst Mickey Schlelen downgraded from Buy to Neutral.

Which Analyst has the best track record to show on SAR?

Analyst Mitchel Penn (OPPENHEIMER) currently has the highest performing score on SAR with 3/5 (60%) price target fulfillment ratio. His price targets carry an average of $1.06 (4.43%) potential upside. Saratoga Investment Corp. stock price reaches these price targets on average within 56 days.

AMD Unveils Ryzen AI PRO 300 Series Amid Mixed Investor Reactions to New Data Center AI Chip

AMD has unveiled its third generation of commercial AI mobile processors, the Ryzen AI PRO 300 Series, designed to enhance business productivity with advanced AI features like live captioning, language translation, and AI-driven image generation. These processors offer up to three times the AI performance of the previous generation and are built on AMD’s Zen 5 architecture, providing top-tier performance for everyday workloads. Additionally, the processors feature AMD’s XDNA™ 2 architecture, which powers an integrated NPU offering over 50 TOPS (Trillions of Operations Per Second) of AI processing power, surpassing Microsoft’s Copilot+ requirements.

The use of a 4nm process and innovative power management ensures extended battery life, making the Ryzen AI PRO 300 Series ideal for sustained productivity on the go. Major OEMs like Microsoft, HP, and Lenovo have integrated these processors into their next-generation commercial PCs, offering enhanced performance and security. AMD’s expanded PRO Technologies lineup includes advanced features like Cloud Bare Metal Recovery and Supply Chain Security to further streamline IT operations.

While AMD made strides in the commercial AI processor market, investors were less impressed with its newly launched data center AI chip, the Instinct MI325X, unveiled at AMD’s Advancing AI event. Although AMD CEO Lisa Su revealed an upward revision of the global AI data-center GPU market forecast—expected to grow more than 60% annually and reach $500 billion by 2028—investors were underwhelmed by the new chip’s ability to challenge Nvidia’s position.

Analysts like CFRA’s Angelo Zino maintain a Buy rating on AMD, recognizing AMD’s progress in becoming a comprehensive AI platform provider, but caution that making a significant impact on Nvidia’s market share will be difficult.

Analyst Ratings Reflect Confidence Amid New Product Launch

Roth MKM analyst Suji Desilva reiterated a Buy rating and a $200 price target.
Cantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating and a $180 price target.
Piper Sandler analyst Harsh Kumar maintained an Overweight rating and raised the price target from $175 to $200.

Which Analyst has the best track record to show on AMD?

Analyst William Stein (TRUIST) currently has the highest performing score on AMD with 9/10 (90%) price target fulfillment ratio. His price targets carry an average of $11.52 (7.97%) potential upside. Advanced Micro Devices stock price reaches these price targets on average within 57 days.

Domino’s Pizza Reports Mixed Q3 Earnings Amid Competitive Landscape

Domino’s Pizza released its third-quarter earnings, surpassing analyst expectations for adjusted earnings per share at $4.19 compared to the consensus estimate of $3.63. However, revenue of $1.08 billion fell short of the $1.1 billion forecast.

Year-over-year global retail sales grew 5.1%, with U.S. same-store sales rising 3.0% and international same-store sales increasing 0.8%, both figures excluding foreign currency impacts. Domino’s experienced net store growth of 72 locations worldwide and reported a 5.0% increase in income from operations, or 5.7% when adjusting for a $1.4 million negative foreign currency impact on international franchise royalties.

Despite the positive earnings, Domino’s U.S. same-store sales growth of 3% for the quarter fell short of the anticipated 3.6% increase. Domino’s attributed this shortfall to heightened competition, with rivals such as McDonald’s launching aggressive value promotions.

Average foot traffic increased by 8.3% during the quarter, although this was a decline from the 10.7% growth seen in the previous quarter. In response, Domino’s has reinstated its emergency pizza offer, providing customers with a free pizza on select online orders within 30 days. Additionally, the company has adjusted its annual global retail sales growth target to 6%, down from 7%, amid challenges in various international markets and ongoing geopolitical tensions.

Analyst Adjusted Price Targets Amid Mixed Quarterly Performance

Citigroup analyst Jon Tower maintained a Neutral rating while lowering the price target from $450 to $440.
Barclays analyst Jeffrey Bernstein kept an Underweight rating, yet reduced the price target from $380 to $370.
Jefferies analyst Alexander Slagle maintained a Hold rating and decreased the price target from $455 to $450.
Benchmark analyst Todd Brooks reiterated a Buy rating and a price target of $520.
RBC Capital analyst Logan Reich maintained an Outperform rating but lowered the price target from $500 to $490.
Wedbush analyst Nick Setyan reiterated an Outperform rating and the price target at $470.
TD Cowen analyst Andrew Charles reiterated a Buy rating and a price target of $475.
Stephens & Co. analyst Jim Salera held an Equal-Weight rating and decreased the price target from $430 to $420.
BTIG analyst Peter Saleh maintained a Buy rating, though lowered the price target from $580 to $500.
Deutsche Bank analyst Lauren Silberman maintained a Buy rating and reduced the price target from $500 to $480.
Piper Sandler analyst Brian Mullan kept a Neutral rating and lowered the price target from $429 to $422.

Which Analyst has the best track record to show on DPZ?

Analyst Brian Mullan (PIPER SANDLER) currently has the highest performing score on DPZ with 18/20 (90%) price target fulfillment ratio. His price targets carry an average of $-7.67 (-1.79%) potential downside. Domino’s Pizza stock price reaches these price targets on average within 125 days.