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Globe and Mail
3 minutes ago
- Globe and Mail
Why Unity Software Stock Keeps Going Up
Key Points Four separate analysts have recommended buying Unity Software stock in the last 24 hours. Morgan Stanley has the most interesting advice, recommending the stock, but seemingly at a price substantially lower than it costs today. Unity stock really is quite expensive for its growth forecast. These 10 stocks could mint the next wave of millionaires › More and more analysts are unifying behind a bull thesis on Unity Software (NYSE: U). Shares of the graphics software company rocketed 14% yesterday after Jefferies raised its price target to $35. Today, three more analysts are chiming in on Unity -- and the stock is up 10.8% through 9:55 a.m. ET. Valuing Unity stock In a trio of notes this morning, UBS raised its price target on Unity stock to $33, with a neutral rating; Wedbush raised its price target to $39 with an outperform recommendation; and Morgan Stanley ended with a good news/bad news note: Morgan Stanley analyst Matthew Cost writes today on The Fly that he's seeing "marked improvement" with Unity Ads sales up 15% to 20%. Unity has "produced a fundamentally more competitive ad product," says Cost, that's translating into tremendous sales growth. Is Unity stock a buy? But here's the weird part: Cost gives Unity stock an overweight rating, but only a $25 price target, which is below the $38 Unity stock costs today. So what's an investor to make of that? Morgan Stanley might have made a typo, and meant to value Unity stock higher. Alternatively, what Cost might be trying to say is that Unity would be a buy... at the right price. And that's a sentiment I agree with. With $308 million in trailing free cash flow and a $15.8 billion market cap, Unity stock now trades at a steep 51 price-to-free-cash-flow ratio. This seems expensive to me given most analysts forecast the company will grow FCF only about 26% annually over the next five years. But if you cut the stock's price 35% or so, to about $25 a share, $10.4 billion, or 33.5 times FCF, the valuation looks more attractive. At that price, I might even buy some myself. Don't miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $444,437!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $39,897!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $674,281!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon. See the 3 stocks » *Stock Advisor returns as of July 14, 2025
CTV News
3 minutes ago
- CTV News
City of Gatineau loses court battle over property taxes for Gatineau Park
Part of Gatineau Park is in the City of Gatineau. The City of Gatineau. Que. has lost its court battle against the National Capital Commission over property taxes for Gatineau Park. A federal court judge dismissed an application for judicial review filed by the City of Gatineau over the payments in lieu of taxes from the NCC for the period of 2006 to 2020. The NCC set the payment in lieu of taxes at $166,369. The dispute involves the payment in lieu of taxes paid by the NCC for Gatineau Park land located in the City of Gatineau. Under the National Capital Act, the NCC 'may pay to local municipalities grants not exceeding the amount of taxes that could be collected by them on its real property.' The City of Gatineau was seeking a judicial review of the NCC's decision on the payment, saying the proposed payment in lieu of taxes 'were not reasonable' and didn't follow a recommendation from an advisory committee In a judgment issued last Friday, Judge Yvan Roy called the city's case a 'frontal attack' on the National Capital Commission, adding the NCC can determine the payments in lieu of taxes and is under no obligation to follow the recommendations from a federal advisory committee. Justice Roy notes the Federal Court of Appeal had already ruled to uphold an earlier Federal Court ruling on the municipality of Chelsea, Que's dispute with the NCC over unpaid taxes for Gatineau Park. The municipality said it was shortchanged more than $900,000 a year in property taxes from the NCC. In February, the City of Ottawa lost its multi-million-dollar court battle with the federal government over payments in lieu of taxes on federal buildings. Federal Court Justice Panagiotis Pamel dismissed the city's legal challenge that Public Services and Procurement Canada (PSPC) and Canada Post shortchanged the city $22 million in 2021 and 2022 on federal payments for tax-exempt buildings. The case surrounded a reduction in the Business Education Tax (BET) rate on property taxes by the Ontario government during the COVID-19 pandemic in 2020. The BET rate reduction was intended to provide relief to businesses and was not meant to apply to the payments in lieu of taxes paid by governments.
CTV News
3 minutes ago
- CTV News
Tech stocks help boost S&P/TSX composite, U.S. stock markets also rise
The Toronto Stock Exchange Broadcast Centre is shown in Toronto on Friday June 28, 2013. THE CANADIAN PRESS/Aaron Vincent Elkaim TORONTO — Canada's main stock index was up more than 100 points in late-morning trading, helped by strength in the technology sector, while U.S. stock markets also climbed. The S&P/TSX composite index was up 109.48 points at 27,262.45. In New York, the Dow Jones industrial average was up 95.34 points at 44,350.12. The S&P 500 index was up 20.08 points at 6,283.78, while the Nasdaq composite was up 137.85 points at 20,868.34. The Canadian dollar traded for 72.73 cents US compared with 72.93 cents US on Wednesday. The September crude oil contract was up 57 cents US at US$65.76 per barrel. The August gold contract was down US$21.10 at US$3,338.00 an ounce. This report by The Canadian Press was first published July 17, 2025.
