Selected stock price target news of the day - October 13th, 2023

By: Matthew Otto

Delta Airlines Q3 Earnings and Outlook

Delta Airlines reported its third-quarter financial report, revealing earnings per share of $2.03 and revenue of $14.6 billion. This surpassed analyst expectations, set at $1.95 a share on revenue of $14.5 billion. The momentum is attributed to the sustained demand for travel on Delta, a trend that is anticipated to continue into the December quarter, with a projected total revenue growth ranging between 9% and 12%, in comparison to the same period in 2022. Chief Financial Officer Dan Janki addressed concerns about fuel costs, assuring stakeholders that for the December quarter, non-fuel unit costs are expected to remain flat to 2% higher year-over-year.

Analysts Rating Maintained with Lowered Price Target

JP Morgan Analyst Jamie Baker Maintained Overweight Rating and Lowered the Price Target to $68.

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

Analyst Brandon Oglenski (BARCLAYS) currently has the highest performing score on DAL with 8/13 (61.54%) price target fulfillment ratio. His price targets carry an average of $8.98 (22.52%) potential upside. Delta Airlines stock price reaches these price targets on average within 154 days.

SMART Global Holdings Fiscal 2023 Results, Spotlighting Strategic Transformation

SMART Global Holdings reported its fourth quarter and full-year fiscal 2023 results. In fiscal 2023, SGH achieved $1.44 billion in total sales, with 52% coming from Infrastructure and Power Solutions, 31% from Memory Solutions, and 17% from LED Solutions. Notably, services revenue grew from $148 million 11% of sales in fiscal year ’22 to $248 million 17% of sales in fiscal year ’23, inclusive of Stratus Services. Gross profit margins improved from 29.2% in FY ’22 to 31.7% in FY ’23, a record for SGH.

The company’s strategy for high-performance, high-availability enterprise solutions was further emphasized by its acquisition of Stratus Technologies and the agreement to divest an 81% stake in SMART Brazil. These strategic moves are intended to align resources towards developing advanced solutions and growing recurring services revenue. SGH’s IPS business, including Penguin Solutions and Stratus Technology, contributed $145 million 46% of total sales in the fourth quarter. The Memory Solutions business, excluding Brazil, reported $105 million in revenue 33% of total sales. The LED Solutions Group generated $66 million 21% of total sales. The company’s exited Q4 with a balance sheet, boasting $391 million in cash and short-term investments.

Analyst Keeps Rating and Adjusts Price Target

Stifel Analyst Brian Chin Maintained Buy Rating and Lowered the Price Target to $26.

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

Analyst Sidney Ho (DEUTSCHE BANK) currently has the highest performing score on SGH with 17/18 (94.44%) price target fulfillment ratio. His price targets carry an average of $4.85 (30.11%) potential upside. SMART Global Holdings stock price reaches these price targets on average within 246 days.