Selected stock price target news of the day - February 5th, 2024

By: Matthew Otto

 

Deckers Reported Earnings Report and Raises Full-Year Projections

Deckers reported a $15.11 earnings per share for the fiscal third quarter, coupled with a substantial 16% increase in revenue, reaching a staggering $1.56 billion. These figures surpassed consensus estimates of $11.40 earnings per share and a revenue of $1.44 billion. Notably, Deckers’ gross margins approached 59%.

 

Looking ahead, Deckers revised its full-year projections, anticipating a 14.4% growth in revenue, projecting it to reach $4.15 billion for the fiscal year ending March 31. The company also raised the bar for full-year earnings, forecasting a range between $26.25 to $26.50 per share, exceeding analysts’ expectations, which were initially set at $23.84 per share.

 

Analysts Bullish Following Price Target Raises

  • Truist Securities analyst Scot Ciccarelli maintained a Buy rating and raised the price target from $859 to $983.
  • Stifel analyst Jim Duffy reiterated a Hold rating and increased the price target from $709 to $775.
  • UBS analyst Jay Sole maintained a Buy rating and increased the price target from $950 to $1150.
  • Baird analyst Jonathan Komp kept an Outperform rating and raised the price target from $750 to $880.

 

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

Analyst Janine Stichter (JEFFERIES) currently has the highest performing score on DECK with 17/17 (100%) price target fulfillment ratio. Her price targets carry an average of $105.58 (15.20%) potential upside. Deckers Outdoor stock price reaches these price targets on average within 177 days. 

 

 

 

AbbVie’s 2023 Financial Report: Navigating Challenges and Growth Outlook

AbbVie concluded the full-year 2023 with reported net revenues of $54.318 billion, marking a 6.4 percent decrease on a reported basis and a 5.9 percent decrease on an operational basis. The company reported a full-year diluted EPS of $2.72, indicating a 59.0 percent decrease, while the adjusted diluted EPS stood at $11.11, reflecting a 19.3 percent decrease. Notably, AbbVie’s diverse portfolio experienced varying performances, with the immunology segment reporting $26.136 billion in global net revenues, representing a 9.6 percent decrease, primarily attributed to biosimilar competition affecting Humira. Additionally, the oncology, neuroscience, and aesthetics portfolios reported revenues of $5.915 billion, $7.717 billion, and $5.294 billion, respectively.

 

In the fourth quarter of 2023, AbbVie reported worldwide net revenues of $14.301 billion, reflecting a 5.4 percent decrease. The global immunology portfolio contributed $6.953 billion in net revenues, witnessing a 12.3 percent decline, mainly due to increased competition for Humira. Meanwhile, the oncology, neuroscience, and aesthetics portfolios reported fourth-quarter net revenues of $1.509 billion, $2.094 billion, and $1.371 billion, respectively.

The quarter’s adjusted gross margin ratio was 83.9 percent, and the adjusted operating margin was 43.8 percent. Furthermore, AbbVie’s strategic acquisitions, including ImmunoGen and Cerevel Therapeutics, position the company for future growth, as reflected in the provided 2024 adjusted diluted EPS guidance range of $11.05 to $11.25.

 

Analysts Maintain Positive Outlook, Raise Price Targets

  • Raymond James analyst Gary Nachman maintained an Outperform rating and raised the price target from $181 to $189.
  • BMO Capital analyst Evan David Seigerman reiterated an Outperform rating and increased the price target from $187 to $195.
  • Barclays analyst Carter Gould maintained an Overweight rating and increased the price target from $175 to $185.

 

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

Analyst Carter Gould (BARCLAYS) currently has the highest performing score on ABBV with 7/10 (70%) price target fulfillment ratio. His price targets carry an average of $9.61 (5.81%) potential upside. AbbVie stock price reaches these price targets on average within 107 days.

 

 

 

Charter Reports Q4 2023 Results: Highlights of Growth and Investment

Charter Communications’ Q4 2023 financial report showcased a 1% year-over-year revenue increase, totaling 155,000 new Internet customers and a growth of almost 50% in Spectrum Mobile lines, accumulating to over 7.7 million total mobile lines by the close of 2023. The company reported a 1.6% increase in adjusted EBITDA for the fourth quarter, a performance that expanded to a 3.6% rise when excluding advertising.

 

In terms of operating expenses, there was a 0.7% decline, driven by a 10.6% reduction in programming costs attributed to a drop in video customers and a higher prevalence of lighter video packages. Capital expenditures for Q4 amounted to $2.9 billion, with line extension spending reaching $978 million.

Looking ahead, Charter expects its 2024 capital expenditures to range between $12.2 billion and $12.4 billion, encompassing line extensions of approximately $4.5 billion and network evolution spend of around $1.6 billion.

 

Analysts Lower Price Targets for Charter Communications Amidst Market Adjustments 

  • Kannan Venkateshwar of Barclays maintained an Underweight rating and lowered the price target from $325 to $280.
  • Sebastiano Petti from JP Morgan downgraded from Overweight to Neutral and the price target from $445 to $370.
  • Wells Fargo analyst Steven Cahall downgraded from Overweight to Equal Weight.
  • Wolfe Research analyst John Janedis lowered the price target to $400.
  • UBS analyst John Hodulik reduced the price target to $360.
  • TD Cowen analyst Gregory Williams lowered the price target to $514.

 

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

Analyst Michael Rollins (CITI) currently has the highest performing score on CHTR with 8/10 (80%) price target fulfillment ratio. His price targets carry an average of $18.49 (4.55%) potential upside. Charter Communications stock price reaches these price targets on average within 93 days.

 

 

 

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