Selected stock price target news of the day - January 26th, 2024

By: Matthew Otto

 

Intel Reports Fourth Quarter 2023 Results and Upbeat Guidance for Fiscal Year 2024

Intel reported financial results for the fourth quarter of 2023 with a revenue of $15.4 billion, exceeding consensus estimate of $15.16 billion. This marks a 9% sequential increase and a 10% year-over-year rise. Gross margin stood at 48.8%, surpassing guidance by 230 basis points. Additionally, earnings per share for the quarter reached $0.54, surpassing guidance by $0.10. Intel’s Client Computing Group notably performed well, achieving revenue of $8.8 billion, up 12% sequentially and 33% year-over-year, buoyed by sustained strength in gaming and commercial segments.

 

Intel anticipates first-quarter guidance revenue in the range of $12.2 billion to $13.2 billion, with an expected gross margin of approximately 44.5%. The company forecasts a double-digit sequential decline in data center revenue for Q1, followed by gradual improvement throughout the year. Despite temporary headwinds such as inventory corrections in Mobileye and PSG, Intel projects sequential and year-on-year growth in both revenue and EPS for each quarter of fiscal year 2024.

 

Mixed Analyst Sentiment as Price Targets and Ratings Adjusted

  • Raymond James analyst Srini Pajjuri maintained an Outperform rating and lowered the price target from $54 to $52.
  • Needham analyst Quinn Bolton downgraded from Buy to Hold.
  • Summit Insights Group analyst Kinngai Chan downgraded from Buy to Hold.
  • Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating and lowered the price target from 58$ to $55.
  • Wedbush analyst Matthew Bryson kept a Neutral rating and decreased the price target from $45 to $40.
  • CFRA analyst Angelo Zino maintained a Hold rating and raised the price target from $39 to $50.

 

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

Analyst Srini Pajjuri (JEFFERIES) currently has the highest performing score on INTC with 9/12 (75%) price target fulfillment ratio. His price targets carry an average of $5.85 (12.15%) potential upside. Intel stock price reaches these price targets on average within 221 days. 

 

 

 

Levi Strauss Reports Fiscal Year 2023 Results Amidst Retail Challenges

Levi Strauss reported its financial results for the fourth quarter and fiscal year ending November 26, 2023. In the fourth quarter, the company recorded net revenues of $1.6 billion, marking a 3% increase and a 2% rise on a constant-currency basis compared to the same period in 2022. Direct-to-Consumer net revenues surged by 11% with e-commerce sales demonstrating growth of 19% globally. However, wholesale net revenues experienced a slight dip of 2%, reflecting a nuanced performance across different regions. Operating income surged across all segments, with a 50% increase in the Americas segment, while gross margin expanded to 57.8%.

 

For the full fiscal year, Levi Strauss reported flat net revenues of $6.2 billion. Gross margin at 56.9%, down 70 basis points from the previous fiscal year. Adjusted EBIT margin stood at 9.0%, compared to 11.6% in FY 2022. Net income for the year totaled $250 million, a decline from $569 million in the previous fiscal year, while adjusted net income amounted to $441 million, down from $604 million in FY 2022. Levi Strauss also provided guidance for fiscal 2024, expecting reported net revenues growth of 1% to 3% year-over-year, with adjusted diluted EPS projected to range from $1.15 to $1.25.

Analysts Offer Mixed Views Amidst Adjusted Price Targets

  • Wells Fargo analyst Ike Boruchow maintained an Equal-Weight rating and lowered the price target from $18 to $17.
  • Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating and raised the price target from $16 to $18.
  • JPMorgan analyst Matthew Boss lowered the price target to $15.

 

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

Analyst Kimberly Greenberger (MORGAN STANLEY) currently has the highest performing score on LEVI with 8/8 (100%) price target fulfillment ratio. Her price targets carry an average of $-0.16 (-1.13%) potential downside. Levi Strauss stock price reaches these price targets on average within 204 days.

 

 

 

T-Mobile US Reports 2023 Performance and Optimistic Outlook for 2024

T-Mobile US reported financial performance for the Fourth Quarter and Full Year 2023. The telecommunications company reached a postpaid phone net additions of 3.1 million, marking a 2% increase for the year and a 6% surge in Q4. T-Mobile added over 2.1 million customers in 2023, concluding the year with 4.8 million broadband customers. In terms of financials, T-Mobile’s consolidated service revenue posted a 6% increase in postpaid service revenue. This translated into core adjusted EBITDA growth of over 10% and a nearly 80% increase in adjusted free cash flow, reaching a total of $17 billion returned to stockholders through the end of 2023.

 

Looking ahead to 2024, T-Mobile provided guidance, projecting total postpaid net customer additions between 5 million and 5.5 million. The company expects core adjusted EBITDA to range between $31.3 billion and $31.9 billion, reflecting a nearly 9% year-over-year increase at the midpoint. T-Mobile anticipates cash CapEx between $8.6 billion and $9.4 billion. Free cash flow, including merger-related costs, is projected to be in the range of $16.3 billion to $16.9 billion, indicating a 22% growth at the midpoint compared to the previous year. Additionally, T-Mobile aims for a 2% increase in postpaid ARPA in 2024.

 

Analyst Adjustments in Price Targets and Recommendations

  • Raymond James analyst Ric Prentiss reaffirmed a Strong Buy rating and increased the price target from $180 to $185.
  • Keybanc analyst Brandon Nispel maintained an Overweight rating and revised the price target downward from $183 to $175.
  • TD Cowen analyst Greg Williams lowered the price target to $204.
  • Wolfe Research analyst Peter Supino kept an Outperform rating and adjusted the price target from $230 to $200.

 

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

Analyst Simon Flannery (MORGAN STANLEY) currently has the highest performing score on TMUS with 19/27 (70.37%) price target fulfillment ratio. His price targets carry an average of $40.61 (29.13%) potential upside. T-Mobile US stock price reaches these price targets on average within 307 days.

 

 

 

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