Selected stock price target news of the day - December 4th, 2023

By: Matthew Otto

 

CleanSpark Fiscal Performance and Strategic Bitcoin Holdings

CleanSpark announced its fiscal full-year results for the period from October 1, 2022, to September 30, 2023. The company reported a revenue of over $168 million, representing a 28% increase compared to the previous fiscal year. Notably, CleanSpark’s strategic focus on operational efficiency is evident in its hashrate growth, surpassing a total of 10 exahashes per second. The fiscal year saw the mining of 6,902 Bitcoins, reflecting a nearly 84% increase from the previous year, with an average gross margin of 42%.

 

The company has almost $170 million in liquidity, consisting of both cash and Bitcoin holdings. Additionally, the company’s energy efficiency measures, with a fleet-wide efficiency of 26.4 joules per terahash, showcase its commitment to sustainability. CleanSpark anticipates exceeding 20 exahashes per second in 2024.

 

Analysts Bullish on CleanSpark with Raised Price Targets

  • Cantor Fitzgerald analyst Josh Siegler maintained an Overweight rating and set a $10 price target.
  • JPMorgan analyst Reginald Smith raised the price target from $8.50 to $9.

 

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

Analyst Brian Dobson (CHARDAN CAPITAL) currently has the highest performing score on CLSK with 4/8 (50%) price target fulfillment ratio. His price targets carry an average of $3.16 (71.25%) potential upside. CleanSpark stock price reaches these price targets on average within 108 days. 

 

 

 

McDonald’s Takes Control of China Business Amidst Geopolitical Challenges

In a strategic move defying the prevailing trend of multinational corporations scaling back in China, McDonald’s has decided to seize greater control of its Chinese operations. The recent deal involved the repurchase of the 28% stake in its China business previously held by Carlyle Group, thereby increasing McDonald’s ownership to 48% in a $6 billion business encompassing Hong Kong and Macau. In contrast to the cautious approach adopted by many global players, McDonald’s has used funds from this transaction to double its restaurant count in China since 2017, now with 5,500 establishments and making the country its second-largest market.

 

The decision aligns with a broader commitment by consumer-facing U.S. firms to maintain a strong presence in China. McDonald’s, with its eye on aggressive expansion, aims to surpass 10,000 stores in China by 2028. Meanwhile, its competitors, such as Yum China, which operates KFC and Pizza Hut, are also expanding their reach in the country. 

 

Analyst Perspectives Diverge on McDonald’s

  • Oppenheimer analyst Brian Bittner reiterated an Outperform rating and a price target of $315.
  • Citigroup analyst Jon Tower maintained a Neutral rating and raised the price target from $280 to $310.

 

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

Analyst Joshua Long (STEPHENS) currently has the highest performing score on MCD with 7/9 (77.78%) price target fulfillment ratio. His price targets carry an average of $26.67 (12.01%) potential upside. McDonald’s stock price reaches these price targets on average within 163 days.

 

 

 

Uber Accelerates into S&P 500: A Transformation from Losses to Profits

Uber announced its inclusion in the S&P 500 Index, a move set to take effect on Monday, Dec. 18. Uber, which debuted on the New York Stock Exchange in 2019, weathered early challenges, primarily battling losses in its ride-hailing business. However, strategic shifts towards profitability in its delivery segment, coupled with job cuts and a focus on cost optimization, have propelled the company into a positive financial trajectory.

 

Uber’s financial prowess is underscored by its market capitalization, currently standing at $118 billion. This figure exceeds the median market cap of companies in the S&P 500, which hovers just above $31 billion. Uber reported a net income of $221 million on a $9.29 billion in revenue in the third quarter, contributing to a cumulative profit exceeding $1 billion over the past four quarters.

 

Analysts Raised Price Targets Signal Optimism

  • Oppenheimer analyst Jason Helfstein maintained an Outperform rating and raised the price target from $65 to $75.
  • JMP Securities analyst Andrew Boone reiterated a Market Outperform rating and a price target of $62.

 

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

Analyst Rohit Kulkarni (MKM) currently has the highest performing score on UBER with 5/11 (45.45%) price target fulfillment ratio. His price targets carry an average of $14.29 (37.41%) potential upside.Uber stock price reaches these price targets on average within 154 days.

 

 

 

Daily stock Analysts Top Price Moves Snapshot