Citi moves Marvell up to pick in semiconductor equipment » 06:3801/2501/25/21
MRVL, NVDA, LRCX, KLAC, ENTG, IIVI, AMKR, CCMP
Citi analyst Atif Malik…
Citi analyst Atif Malik favors semiconductor names over semiconductor capital equipment in the first half of 2021 on peaking wafer fab equipment run rate. He moved Marvell Technology Group (MRVL) to his number one pick and Nvidia (NVDA) to his number two pick. Malik lowered Lam Research (LRCX) and KLA Corp. (KLAC) down by two spots on his ranking list to three and four respectively, On the materials and components group, the analyst maintains Entegris (ENTG) at number one and moves II-VI (IIVI) to his number two pick. He remains Sell rated on Amkor Technology (AMKR) due to long-term margin contraction concerns and CMC Materials (CCMP) due to top line weakness and competitive threats.
Marvell price target raised to $64 from $50 at Citi » 06:3101/2501/25/21
Citi analyst Atif Malik…
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U.S. HHS selects Medallia to improve key services » 08:1001/2101/21/21
Medallia announced the…
Medallia announced the U.S. Department of Health and Human Services will leverage Medallia technology to improve key services and address health challenges in the public sector. "When your mission is to enhance and protect the health and well-being of residents across the country, it is critical, especially in a time like this, to find innovative ways to understand what the public is experiencing and make adjustments that will continue to build trust - ideally in real-time and at scale," said Nick Thomas, executive vice president of global public sector for Medallia. "For example, the HHS has been able to create an "all hands on deck" response to the COVID-19 pandemic using Medallia Crowdicity to crowdsource innovative ideas."
Ulta Beauty price target raised to $330 from $320 at Wells Fargo » 08:0401/2101/21/21
Wells Fargo analyst Ike…
Wells Fargo analyst Ike Boruchow raised the firm's price target on Ulta Beauty to $330 from $320 and keeps an Overweight rating on the shares. The analyst believes that Ulta's steady fundamental improvements continued through holiday, and expects to see upside to comps and gross margins when the company reports Q4 results.
Sutro Biopharma says first patient dosed in dose-expansion study of STRO-002 » 07:0501/2101/21/21
Sutro Biopharma announced…
Sutro Biopharma announced the dosing of the first patient in the dose-expansion cohort of the Phase 1 STRO-002 study. STRO-002 is an internally developed, folate receptor alpha targeting antibody-drug conjugate for the potential treatment of ovarian cancer. The dose-expansion cohort will assess the efficacy, safety and tolerability of STRO-002 at 4.3 and 5.2 mg/kg, given every 3 weeks in patients with ovarian cancer. The dose-expansion cohort for FolRalpha-selected endometrial cancer is planned for later this year.
PagerDuty upgraded to Buy from Hold at Berenberg » 09:1101/2001/20/21
Berenberg analyst Kingsley Crane upgraded PagerDuty to Buy from Hold with a $59 price target. He believes the company has "largely addressed key bear theses" and that its competitive positioning has improved in its core on-call management market, the analyst tells investors. In addition, adding more automation into the platform via its acquisition of Rundeck is improving its strategic value, the analyst said.
Ollie's Bargain Outlet downgraded to Underweight at Morgan Stanley » 08:4101/2001/20/21
Morgan Stanley analyst…
Morgan Stanley analyst Simeon Gutman downgraded Ollie's Bargain Outlet to Underweight from Equal Weight with a price target of $80, down from $86. Gutman sees tough COVID-19 comparisons upcoming for Ollie's and notes that his own 21/22 comp and EPS forecasts are below consensus.
Royal Caribbean agrees to sell Azamara brand to Sycamore in $201M transaction » 09:0301/1901/19/21
Royal Caribbean announced…
Royal Caribbean announced it has entered into a definitive agreement to sell its Azamara brand to Sycamore Partners, a private equity firm specializing in consumer, retail and distribution investments, in an all-cash carve-out transaction for $201M, subject to certain adjustments and closing conditions. Sycamore Partners will acquire the entire Azamara brand, including its three-ship fleet and associated intellectual property. The transaction is subject to customary conditions and is expected to close in the first quarter of 2021. The transaction will result in a one-time, non-cash impairment charge of approximately $170M. "The sale of Azamara is not expected to have a material impact on Royal Caribbean Group's future financial results," said the company, adding that the transaction "allows it to focus on expanding its Royal Caribbean International, Celebrity Cruises and Silversea brands."
Medallia price target raised to $49 from $37 at BTIG » 08:4201/1901/19/21
BTIG analyst Matt…
BTIG analyst Matt VanVliet raised the firm's price target on Medallia to $49 from $37 and keeps a Buy rating on the shares as part of a broader research note on select names in software. The analyst is citing his adjustment in the company's long-term growth expectations given the ongoing impact of the pandemic, with the extended shutdowns and "work-from-anywhere" mandates driving sustained levels of demand for communications and collaboration tools along with elevated usage rates for digital channels in work, school, social activities, and shopping settings.
Domo price target raised to $85 from $63 at Needham » 08:1901/1901/19/21
Needham analyst Jack…
Needham analyst Jack Andrews raised the firm's price target on Domo to $85 from $63 and keeps a Buy rating on the shares. The analyst states that the company's discussion at the Needham Growth Conference reflected the management's plan to enter the upcoming fiscal year with a "proven" sales model and a "self-funded" operating model. Domo also discussed its investments in additional sales capacity while maintaining its recently achieved cash flow breakeven status, Andrews tells investors in a research note.