| Yesterday | ||||
Barclays analyst Ramsey… Barclays analyst Ramsey El-Assal lowered the firm's price target on Accenture to $370 from $455 and keeps an Overweight rating on the shares following the fiscal Q3 results. The analyst reduced Accenture's valuation multiple saying market multiples for companies in the IT Services sector have compressed materially. | ||||
| Friday | ||||
BMO Capital analyst… BMO Capital analyst Andrew Strelzik lowered the firm's price target on Darden to $130 from $140 and keeps a Market Perform rating on the shares. The company's Q4 results saw stronger comps and favorable tax rate more than offset lower margins, the analyst tells investors in a research note. Strelzik adds that a recession is "largely priced in" and Darden's multiple will likely follow the sales trajectory, though improved earnings visibility is needed for shares to realize upside. | ||||
RBC Capital analyst… RBC Capital analyst Christopher Carril lowered the firm's price target on Darden to $143 from $151 but keeps an Outperform rating on the shares after its Q4 results. Softening industry trends and a back-half-weighted guide will likely be the focal points post-earnings, but the company should be able to deliver FY23 EPS toward the upper-end of its guidance range thanks to its disciplined approach to pricing and cost efforts helping to offset pressure on margins, the analyst tells investors in a research note. | ||||
Morgan Stanley analyst… Morgan Stanley analyst John Glass lowered the firm's price target on Darden to $148 from $161 and keeps an Overweight rating on the shares. While he views Darden as "the best positioned casual diner in an increasingly uncertain macro environment," Glass expects full service restaurants in particular to face greater headwinds over the coming quarters, adding that there is early evidence from June of some industry-wide softening. Taking the mid-point of Darden's guidance range, he has lowered his FY23 estimates by about 5%, Glass noted. | ||||
RBC Capital analyst… RBC Capital analyst Daniel Perlin lowered the firm's price target on Accenture to $357 from $435 but keeps an Outperform rating on the shares after its Q3 results. The company delivered another solid quarter with strong double-digit growth across all services and a continuation of strong bookings momentum, though its earnings guidance was tightened toward the lower end on increased FX headwinds and this quarter's Russian charge, the analyst tells investors in a research note. Perlin adds that Accenture's bookings growth remains solid, with new bookings up 10% y/y on a reported basis. | ||||
Craig-Hallum analyst Eric… Craig-Hallum analyst Eric Stine lowered the firm's price target on Apogee Enterprises to $43 from $47 and keeps a Hold rating on the shares. The company had a good start to FY23 with Q1 exceeding expectations across the board, Stine tells investors in a research note. The analyst is encouraged by Apogee's operational progress, but says several potential market headwinds and uncertainties are worth watching and could mean the positive non-residential construction market backdrop proves unsustainable. | |
KB Home announced the… KB Home announced the grand opening of Orchid, a new, gated townhome community in Torrance, California. The new neighborhood is situated just east of Normandie Avenue near Interstates 110 and 405. Orchid is adjacent to Normandale Recreation Center, which hosts a skate park, indoor and outdoor sports courts, baseball fields and children's play areas as well as organized sports, fitness and cultural programs. | |
Truist analyst Jake… Truist analyst Jake Bartlett lowered the firm's price target on Darden to $136 from $180 but keeps a Buy rating on the shares after its Q4 results. The company's same-store-sales outperformance accelerated and its guidance calls for "solid" sales, but its costs were also "elevated", the analyst tells investors in a research note. Bartlett adds that Darden does not plan to increase marketing spend and return to value promotions, which is a positive for the company's margins, though his price target reflects growing macro risks. | |
Cowen analyst Bryan… Cowen analyst Bryan Bergin lowered the firm's price target on Accenture to $325 from $330 and keeps an Outperform rating on the shares. The analyst said it was a solid #3 and a good outlook and pipeline commentary which reflected no disruption to demand in spite of macro market concerns. He said its solid long-term positioning, durable model and financial capacity likely limits any meaningful earnings per share impact should a slowdown occur; however he acknowledges the shares may remain range-bound as a valuation debate persists and until its 2023 growth trajectory is addressed. | |
Credit Suisse analyst… Credit Suisse analyst Lauren Silberman lowered the firm's price target on Darden to $152 from $175 and keeps an Outperform rating on the shares. Darden's Q4 print and FY23 guidance were in-line with expectations, while heightened cost pressures continue to weigh on margins, Silberman tells investors in a research note. The analyst remains bullish on Darden as its long-term back-to-basics strategy and below-industry pricing philosophy should drive share gains. |
