Erste Group Bank price target raised to EUR 28 from EUR 25 at JPMorgan » 11:5801/2001/20/21
JPMorgan analyst Samuel…
JPMorgan analyst Samuel Goodacre raised the firm's price target on Erste Group Bank to EUR 28 from EUR 25 and keeps an Overweight rating on the shares.
Haemonetics acquires Cardiva Medical for over $475M » 06:5001/2001/20/21
HAE, MC, JPM
Haemonetics announced that it has entered into a definitive agreement to acquire privately-held Cardiva Medical an industry-leading manufacturer of vascular closure systems based in Santa Clara, California. Under the terms of the agreement, Haemonetics will acquire Cardiva for an upfront cash payment of $475M at closing and up to an additional $35M in contingent consideration based on sales growth. The acquisition is subject to customary closing conditions and is expected to be completed in the Q1. Cardiva's portfolio includes two catheter-based vascular access site closure devices. The acquisition is expected to deliver about $65M-$75M of revenue in the first fiscal year. The transaction is expected to be dilutive to adjusted net earnings per diluted share by (15c)-(20c) in FY22 and about neutral to adjusted net earnings per diluted share in fiscal year 2023. The acquisition is expected to deliver a rate of return on invested capital of 10% by year five. Haemonetics plans to finance this acquisition through a combination of cash, existing revolving credit facility and an additional $150M term loan. Following this acquisition, the Company debt to EBITDA ratio, as calculated in accordance with the terms set forth in the Company's existing Credit Agreement, is expected to be approximately 3.2. Moelis & Company (MC) is serving as financial advisor to Haemonetics and DLA Piper is serving as legal advisor. Additionally, J.P. Morgan (JPM) Securities is acting as financial advisor to Cardiva and Cooley is serving as legal advisor.
JPMorgan price target raised to $163 from $147 at DA Davidson » 09:2501/1901/19/21
DA Davidson analyst David…
DA Davidson analyst David Konrad raised the firm's price target on JPMorgan to $163 from $147 and keeps a Buy rating on the shares. The company posted "strong" Q4 results thanks to its core earnings and lower reserves along with better than expected card and investment banking revenues, the analyst tells investors in a research note. Konrad adds that JPMorgan's better loan growth and steepening yield curve drove its increased 2021 net interest income guidance.
JPMorgan price target raised to $157 from $140 at Seaport Global » 08:4401/1901/19/21
Seaport Global analyst…
Seaport Global analyst Jim Mitchell raised the firm's price target on JPMorgan to $157 from $140 and keeps a Buy rating on the shares following last week's Q4 results. The analyst increased to reflect the $1.5B 2021 net interest income guidance raise along with an expectation for lower credit costs this year and next.
JPMorgan price target raised to $150 from $130 at RBC Capital » 08:0601/1901/19/21
RBC Capital analyst…
RBC Capital analyst Gerard Cassidy raised the firm's price target on JPMorgan to $150 from $130 and keeps an Outperform rating on the shares after its better than expected Q4 results, driven by higher-than-anticipated revenues and a "significant" loan loss provision benefit. The analyst notes that if the economy continues to expand in 2021, JPMorgan should be able to "rebuild its earnings power".
JPMorgan price target raised to $150 from $142 at Credit Suisse » 08:0001/1901/19/21
Credit Suisse analyst…
Credit Suisse analyst Susan Roth Katzke raised the firm's price target on JPMorgan to $150 from $142 and keeps an Outperform rating on the shares. The analyst notes that JPMorgan reported fourth quarter earnings of $3.79 per share, well ahead of forecasts, with or without the benefit of loan loss reserve release. Results have set the pace for the banks, with quarterly ROTE at 24% and full year ROTE of 14%, she adds.
JPMorgan price target raised to $172 from $164 at Barclays » 06:4101/1901/19/21
Barclays analyst Jason…
Barclays analyst Jason Goldberg raised the firm's price target on JPMorgan to $172 from $164 and keeps an Overweight rating on the shares following the company's Q4 results.
JPMorgan price target raised to $150 from $135 at Keefe Bruyette » 18:3501/1801/18/21
Keefe Bruyette analyst…
Keefe Bruyette analyst Brian Kleinhanzl raised the firm's price target on JPMorgan to $150 from $135 and keeps a Market Perform rating on the shares following the company's Q4 results. JPMorgan posted a beat largely on lower provision expense, Kleinhanzl tells investors in a research note.
Fly Intel: Wall Street's top stories for Friday » 16:2701/1501/15/21
JPM, C, WFC, PNC, XOM, ACCD, SPOT, DBVT, CRDF, PRGS, AAPL, SIRI, AMZN, TUFN
Stocks ended a bit of a…
JPMorgan price target raised to $160 from $150 at Wells Fargo » 15:1701/1501/15/21
Wells Fargo analyst Mike…
Wells Fargo analyst Mike Mayo raised the firm's price target on JPMorgan to $160 from $150 and keeps an Overweight rating on the shares following this morning's "strong" Q4 results. The analyst increased estimates to reflect higher net interest income than previously modeled given management comments, better credit trends and a lower share count.