Latest news with #RedburnAtlantic
Globe and Mail
3 days ago
- Business
- Globe and Mail
Broadcom Just Got a New Street-High Price Target. Should You Buy AVGO Stock Now?
Broadcom (AVGO) recently received a vote of confidence from Redburn Atlantic, which initiated coverage of the stock with a 'Buy' rating. The firm pointed to the company's strong position in application-specific integrated circuits (ASICs) as a key driver of long-term growth. Analyst Mike Harrison set a price target of $301, a new Street high. The bullish call adds to recent optimism around Broadcom, with recent price target hikes from Melius Research and Mizuho. Broadcom's fiscal first-quarter earnings showed a 25% jump in revenue year over year, with AI-related sales playing a growing role. As investor interest in AI and cloud infrastructure grows, analysts appear increasingly confident in Broadcom's ability to deliver sustained performance. About Broadcom Stock Broadcom (AVGO), headquartered in Palo Alto, California, is renowned for its diverse portfolio of semiconductor products, coupled with its infrastructure software solutions. Valued at $1,1 trillion, the company's shares have soared by 71% over the past 52 weeks, showcasing its resilience. Broadcom Surpasses on Fiscal Q1 Earnings On March 6, Broadcom released its fiscal Q1 2025 earnings, surpassing Wall Street's expectations. The company reported revenue of $14.9 billion, comfortably ahead of the $14.6 billion forecast and marking a 25% year-over-year jump. The sharp uptick was powered by artificial intelligence and infrastructure software, each clocking in growth well above 40%. AI revenue soared by 77%, reaching $4.1 billion. The infrastructure segment saw a 47% rise in revenue, reaching $6.7 billion during the quarter. The company's adjusted EBITDA climbed 40.9%, totaling $10.1 billion. Non-GAAP EPS surged by 45.5%, hitting $1.60, easily surpassing the forecast $1.51. Adding to the positive momentum, Broadcom's free cash flow increased by 28.1% to $6 billion. As a testament to their confidence in future growth, management also announced a $10 billion stock buyback program in early April, set to run through the end of the year. CEO Hock Tan has emphasized that this move underscores the board's trust in Broadcom's diversified product lineup. Looking ahead, management has projected fiscal Q2 2025 revenue to reach $14.9 billion, reflecting a 19% increase from the previous year. Meanwhile, analysts tracking Broadcom forecast Q2 EPS to grow 54% year-over-year to $1.34, and fiscal 2025 EPS to rise 53.9% from the prior to $5.71. What Do Analysts Expect for Broadcom Stock? Wall Street's sentiment toward AVGO is nothing short of bullish. Analysts are clearly betting on the company's momentum to continue, especially with tailwinds like AI and infrastructure software business growth adding fuel to the fire. The company will release its fiscal Q2 earings on June 5, which should also grab investor attention. The stock currently enjoys a 'Strong Buy' consensus, a reflection of widespread confidence in its performance trajectory. Among 33 analysts, 29 advocate a 'Strong Buy,' one has a 'Moderate Buy,' and three sit on the fence with a 'Hold.' The average price target of $243.86 represents minimal upside from current prices, while the Street-high price target of $301 suggests shares could gain 24% from here.
Yahoo
25-05-2025
- Business
- Yahoo
Redburn Upgrades Charles River Laboratories (CRL) to Buy, Cuts PT
On May 23, Redburn Atlantic turned bullish on Charles River Laboratories International, Inc. (NYSE:CRL) as it upgraded its stock from 'Neutral' to 'Buy,' despite marginally reducing the price objective to $182 from $188. The upgrade was seen off the back of an improvement in demand in Charles River Laboratories International, Inc. (NYSE:CRL)'s Discovery and Safety Assessment (DSA) business. Furthermore, Elliott Management is the company's largest investor. This, along with the announcement of a comprehensive strategic review, is seen as a catalyst for future performance. A laboratory scientist surrounded by drug-discovery equipment and resources. Also, the valuation profile of Charles River Laboratories International, Inc. (NYSE:CRL) is being aided by its leading position in the broader market and expectation of a growth trajectory after the demand normalizes. Additionally, the firm believes that its Q1 2025 report demonstrated the initial signs of improvement in demand. Redburn Atlantic opines that the stock's current valuation hints at a 36% discount to its 10-year average historical forward multiple. The signs of demand stabilization were highlighted by a strong improvement in DSA booking activity. Charles River Laboratories International, Inc. (NYSE:CRL) believes that its long-standing hallmarks of advancing scientific innovation and driving greater efficiency in the clients' drug development programs are expected to present numerous future opportunities. Charles River Laboratories International, Inc. (NYSE:CRL) is engaged in providing drug discovery, non-clinical development, and safety testing services. While we acknowledge the potential of CRL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRL and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. Sign in to access your portfolio
Yahoo
24-05-2025
- Business
- Yahoo
Redburn Upgrades Charles River Laboratories (CRL) to Buy, Cuts PT
On May 23, Redburn Atlantic turned bullish on Charles River Laboratories International, Inc. (NYSE:CRL) as it upgraded its stock from 'Neutral' to 'Buy,' despite marginally reducing the price objective to $182 from $188. The upgrade was seen off the back of an improvement in demand in Charles River Laboratories International, Inc. (NYSE:CRL)'s Discovery and Safety Assessment (DSA) business. Furthermore, Elliott Management is the company's largest investor. This, along with the announcement of a comprehensive strategic review, is seen as a catalyst for future performance. A laboratory scientist surrounded by drug-discovery equipment and resources. Also, the valuation profile of Charles River Laboratories International, Inc. (NYSE:CRL) is being aided by its leading position in the broader market and expectation of a growth trajectory after the demand normalizes. Additionally, the firm believes that its Q1 2025 report demonstrated the initial signs of improvement in demand. Redburn Atlantic opines that the stock's current valuation hints at a 36% discount to its 10-year average historical forward multiple. The signs of demand stabilization were highlighted by a strong improvement in DSA booking activity. Charles River Laboratories International, Inc. (NYSE:CRL) believes that its long-standing hallmarks of advancing scientific innovation and driving greater efficiency in the clients' drug development programs are expected to present numerous future opportunities. Charles River Laboratories International, Inc. (NYSE:CRL) is engaged in providing drug discovery, non-clinical development, and safety testing services. While we acknowledge the potential of CRL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRL and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. 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
Globe and Mail
30-04-2025
- Automotive
- Globe and Mail
Redburn Atlantic: Time to Sell Tesla Stock (NASDAQ:TSLA)
Things have not been great for electric vehicle stock Tesla (TSLA) of late, nor for its various derivatives. And new word from analysts at Redburn Atlantic say it is time to pull out altogether. Investors, meanwhile, took Redburn's advice seriously, if only slightly, and shares of Tesla slipped fractionally in Tuesday afternoon's trading. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Word from Redburn Capital analyst Adrian Yanoshik calls for a mass exodus, as Tesla's recent history of declining sales volume and accompanying hurting cash flow is likely to carry on for the rest of the year. A combination of Mexico-US tariffs, China-Europe tariffs, and overall struggles with electric vehicle pricing are likely to produce troubles for Tesla through much of 2025. In fact, Redburn's projections on Tesla are downright pessimistic. Its estimates for free cash flow, and for earnings, are each 10% below Wall Street consensus, reports noted. And if the United States Inflation Reduction Act clean vehicle credits get pulled back as well, then that will take Tesla's sales down still another notch. Thus, Redburn's projected price target on Tesla stock stands at $160 per share. That represents a 44% drop against Monday's closing figures. Good Luck Buying One in New York And in New York, it may get tougher to even try to sell a Tesla to begin with. While state lawmakers have been previously seen working to bring more Tesla dealerships to New York under the guise of supporting green energy initiatives, that, somehow, changed. Now, New York is working to remove the five directly-operated Tesla dealerships in the state, because, apparently, Tesla cars are no longer green. Particularly when large amounts of them are being set on fire by 'protestors.' In fact, some Democrats in New York want to go farther still; instead of cutting off Tesla's ability to sell, they also want a 'comprehensive audit' of a deal that lets Tesla run a plant near Buffalo on a $1-per-year lease. Further, Dems also want clawbacks on previously-awarded subsidies, because again, somehow, Tesla electric vehicles just are not 'green' enough any more. Though, certainly, some have asserted that this is a matter of politics on Tesla's CEO's part rather than any issue with the vehicles themselves. Is Tesla a Buy, Hold or Sell? Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 17 Buys, 10 Holds, and 12 Sells assigned in the past three months, as indicated by the graphic below. After a 55.58% rally in its share price over the past year, the average TSLA price target of $284.74 per share implies 0.5% upside potential. See more TSLA analyst ratings Disclosure Disclaimer & Disclosure Report an Issue
CNBC
29-04-2025
- Automotive
- CNBC
Redburn says sell Tesla stock as EV maker faces tough outlook on tariffs and pricing
Redburn Atlantic recommended Tuesday that investors sell their Tesla stock, as the research firm expects another year of volume declines and strained cashflow. "Our challenging earnings outlook incorporates headwinds from electric vehicle (EV) pricing, Mexico-US and China-Europe tariffs," Redburn analyst Adrian Yanoshik told clients in a note. Redburn's estimates for Tesla's earnings and free cash flow this year are 10% below the Wall Street consensus as the firm sees more downside risk, Yanoshik said. "We note even further risks for downgrades associated with a possible rescinding of US Inflation Reduction Act (IRA) clean vehicle credits," the analyst said. TSLA YTD mountain Tesla stock performance Redburn has stock price target for Tesla of $160, which suggests about 44% downside from Monday's closing prices of $285.88 per share. Tesla stock has fallen about 30% so far this year. "Although aimed at reinvigorating sales, we only consider a modest net volume uplift from the refresh of the Model Y (which started deliveries in March) and Tesla's lower-price model that the company has yet to reveal, scheduled for a June launch," Yanoshik said.
