Selected stock price target news of the day - March 13th, 2024

By: Matthew Otto

Kohl’s Exceeds Earnings, Confronts Sales Decline; Unveils Babies ‘R’ Us Partnership

Kohl’s Corporation reported earnings for the fiscal fourth quarter ended Feb. 3, with earnings per share at $1.67, surpassing Wall Street’s expectations of $1.28. Net sales for the quarter reached $5.7 billion, slightly missing consensus estimates of $5.8 billion. Same-store sales took a hit, plummeting by 4.3% from the previous year, exceeding the anticipated decline.

Looking ahead, Kohl’s provided fiscal year guidance, projecting net sales to fluctuate between a 1% decrease and a 1% increase, with same-store sales ranging from flat to a 2% increase. The company anticipates fiscal year EPS to fall within the $2.10 to $2.70 range, deviating slightly from analysts’ consensus estimate of $2.62.

Kohl’s revealed a partnership with Babies “R” Us, aiming to capitalize on the baby gear market. The first Babies “R” Us shops are set to open in Kohl’s stores in August, with plans to expand to around 200 stores in the fall. Analyst Oliver Chen from TD Cowen maintains an optimistic outlook, highlighting the potential of Kohl’s new partnership and applauding the company’s execution with Sephora, offering an Outperform rating and a $28 price target.

Analyst Perspectives Diverge as Price Targets and Ratings Shift

TD Cowen analyst Oliver Chen maintained Outperform rating and raised the price target from $28 to $31.
JP Morgan analyst Matthew Boss reiterated Neutral rating and increased the price target from $20 to $21.
Goldman Sachs analyst Brooke Roach kept Sell rating and the price target at $20.
Telsey Advisory Group analyst Dana Telsey maintained Market Perform rating and increased the price target from $25 to $28.

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

Analyst Lorraine Hutchinson (BAML) currently has the highest performing score on KSS with 7/10 (70%) price target fulfillment ratio. His price targets carry an average of $2.57 (13.23%) potential upside. Kohl’s Corporation stock price reaches these price targets on average within 41 days.

AdTheorent Reports Q4 2023 Financials, Forecasts Growth for 2024

AdTheorent reported financials for Q4 2023, exceeding expectations with a revenue of $59.7 million, representing a 15.2% YoY growth. Achieved an adjusted EBITDA of $13.6 million, showcasing a 34% margin and a 35% YoY growth. Notably experienced a 136% YoY revenue growth.

In the health sector, AdTheorent Health, achieved 89% YoY revenue growth in Q4. Predictive audience products also contributed significantly, with 85 active campaigns in Q4, reflecting a 29% sequential increase from the previous quarter.

In the realm of Connected TV, AdTheorent’s performance-oriented offering continued to gain traction, with 87% increase in advertiser count compared to Q3 2023, resulting in a 12% growth of CTV advertisers.

Looking ahead to 2024, AdTheorent projected revenue in the range of $188 million to $195 million, marking a 12% growth at the midpoint compared to 2023. The company anticipates adjusted gross profit between 64% and 65% of revenue, with an expected adjusted EBITDA margin between 20% and 25% of adjusted gross profit.

Analysts Boost Price Targets Following Positive Ratings

Benchmark analyst Daniel Kurnos maintained a Buy rating and raised the price target from $6 to $7.
JMP Securities analyst Andrew Boone reiterated an Outperform rating and increased the price target from $3 to $4.
Needham analyst Laura Martin kept a Buy rating and upgraded the price target from $3 to $3.75.
Noble Capital analyst Michael Kupinski raised the price target from $4 to $4.75.

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

Analyst Laura Martin (NEEDHAM) currently has the highest performing score on ADTH with 11/12 (91.67%) price target fulfillment ratio. His price targets carry an average of $0.5 (20.00%) potential upside. AdTheorent Holding Company stock price reaches these price targets on average within 190 days.

Legend Biotech’s Financial Performance and Manufacturing Expansion Drive Growth in 2023

Legend Biotech reported financial performance for the fourth quarter and full year 2023, with total net sales for CARVYKTI reaching $159 million in Q4, representing a 189% year-over-year increase. For the entire year, CARVYKTI’s total sales amounted to $0.5 billion.

Legend Biotech’s net loss for Q4 2023 was $144.8 million, or $0.40 per share, compared to $135.9 million, or $0.41 per share, for the same period in the previous year. Over the course of 2023, Legend Biotech reported a net loss of $518.3 million, or $1.47 per share, compared to $446.3 million, or $1.40 per share, in 2022.

The expansion of Legend Biotech’s manufacturing capabilities was a notable focus, with the company’s cash balance standing at $1.3 billion as of December 31, 2023. The manufacturing progress includes the certification of 65 US hospitals to treat CARVYKTI patients, a doubling of cell processing capacity at the Raritan, New Jersey facility, and the initiation of production at the Ghent, Belgium site called Obelisc, which aims to start commercial production in the second half of the year. These efforts align with the company’s target to supply CARVYKTI to 10,000 patients by the end of 2025.

Analysts Reinforce Outlook, Maintaining Ratings and Price Targets

HC Wainwright & Co. analyst Mitchell Kapoor reaffirmed a Buy rating and a $87 price target.
Raymond James analyst Sean McCutcheon commenced an Outperform rating and a price target of $86.
RBC Capital analyst Leonid Timashev reiterated an Outperform rating and a $85 price target.

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

Analyst Mitchell Kapoor (HC WAINWRIGHT) currently has the highest performing score on LEGN with 4/10 (40%) price target fulfillment ratio. His price targets carry an average of $22.03 (33.91%) potential upside. Legend Biotech Corp stock price reaches these price targets on average within 14 days.