
Expecting Decent Upside In Tech: JPMorgan's Sundar
JPMorgan Private Bank Head of Alternative Investment Strategy Sitara Sundar speaks with Dani Burger on 'The Brief.' (Source: Bloomberg)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Yahoo
40 minutes ago
- Yahoo
JP Morgan downgrades Informa TechTarget and cuts price target by over 50%
-- JP Morgan downgraded Informa (LON:INF) TechTarget (NASDAQ:TTGT) to Underweight from Neutral and slashed its price target to $8 from $18, citing disappointing results, limited near-term catalysts and lackluster growth prospects. Shares of the company have dropped more than 60% year-to-date, falling from around $18 at the start of 2025 to near $7, underperforming the S&P 500's 2% gain. The downgrade follows the delayed release of FY24 results on June 4, which showed adjusted EBITDA of $82 million, roughly 18% below JP Morgan's estimate. While FY25 guidance implies flat revenue and modest EBITDA growth, the bank sees little evidence of a near-term turnaround. 'We do not see TTGT as having attractive near-term investment characteristics,' JP Morgan analysts wrote, noting management expects revenue declines in the first half of 2025 before a possible recovery later in the year. The firm said it lacks confidence in Informa TechTarget's ability to consistently deliver even low single-digit growth. Although the company operates in a relatively healthy macro environment, the weakness in IT sales and marketing budgets, which its business depends on, remains a drag. JP Morgan also highlighted a recent disclosure that the stock's sharp derating triggered impairment testing, with the company now expecting a non-cash goodwill charge in Q1 2025. While acknowledging the value of the company's proprietary data assets and the scale from the Informa-TechTarget combination, analysts said visibility into revenue synergies remains limited. A more constructive stance could emerge if end-market conditions improve or the firm pivots to a more defensive growth strategy. The new $8 price target implies a 6x EV/EBITDA multiple on 2026 estimates, in line with peers in cyclical software. Related articles JP Morgan downgrades Informa TechTarget and cuts price target by over 50% Bitcoin winter not coming back, says Strategy's Saylor Bank of America explains how to best optimize sentiment barometers Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Bloomberg
an hour ago
- Bloomberg
Jamie Dimon Says Wells Fargo's Asset Cap Was ‘Grossly Unfair'
Wells Fargo & Co. 's Federal Reserve-imposed asset cap that restricted its size for more than seven years was 'grossly unfair,' said Jamie Dimon, longtime boss of its biggest rival. 'They went through a long, arduous road to get out of that thing,' JPMorgan Chase & Co. 's chief executive officer said at a conference Tuesday. 'Punishment should fit the crime, not be something you don't understand at all.'
Yahoo
an hour ago
- Yahoo
What the 'Big, Beautiful' tax bill means for municipal bonds
JPMorgan raised its forecast for municipal bond sales in 2025 to $560 billion as US lawmakers deliberate over President Trump's "big, beautiful" tax and spending bill in the Senate. Goldman Sachs Asset Management co-head of municipal fixed income Sylvia Yeh weighs in on what policy changes to the US tax code could mean for municipal bond investors, as well as valuation catalysts in comparison to Treasury yields (^TYX, ^TNX, ^FVX). Goldman Sachs manages several municipal bond ETFs (GMUB, GCAL, GMNY, GUMI). To watch more expert insights and analysis on the latest market action, check out more Catalysts here. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data