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Fly News Breaks for October 16, 2019
FMC, PDFS, JNJ, BMCH, PSTG, BLDR
Oct 16, 2019 | 10:20 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) upgraded to Neutral from Underweight at Atlantic Equities. 2. FMC Corporation (FMC) upgraded to Outperform from Neutral at Baird with analyst Ben Kallo saying he believes FMC's new product introductions, expected share gains in key markets, and operating leverage can drive revenue and adjusted EBITDA growth in 2020 and beyond. 3. Pure Storage (PSTG) upgraded to Outperform from Market Perform at Raymond James with analyst Simon Leopold saying recent VAR/Distributor checks have reflected positive sentiment suggesting Pure can exceed current Street estimates and he has gained a greater appreciation for the market expansion offered by the new FlashArray//C. 4. PDF Solutions (PDFS) upgraded to Buy from Hold at Craig-Hallum with analyst Christian Schwab saying PDF Solutions is transitioning the company to an analytics software model, and believes that looking out 3-5 years, and in line with management's long term model shared at the company's Analyst Day, it can become a "Rule of 40" SaaS like company with 70% gross margins and in aggregate a 20% top line growth rate and 20% operating margin. 5. Builders FirstSource (BLDR) and BMC Stock Holdings (BMCH) upgraded to Overweight from Equal Weight at Stephens. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For JNJ;FMC;PSTG;PDFS;BLDR;BMCH From the Last 2 Days
BLDR
Feb 21, 2020 | 10:29 EST
Builders FirstSource CFO Peter Jackson said on the company's Q4 earnings call that he expects Q1 net sales per day to increase between 6%-10% over the prior year quarter, led by value-added products, which includes the impact of commodity inflation of approximately 2%. Q1 adjusted EBITDA is expected to be between $90M-$100M and for the full year of 2020 the company forecast adjusted EBITDA of $550M-$580M. In FY20, Builders FirstSource expects single family customer segment growth in the mid-single digits range; R&R growth in the low single digits range; and the multifamily end market to remain flat. Jackson added: "The enhancements to our long-term value creation plan, combined with a supportive macro backdrop, not only gives us confidence that we will achieve our goals, but also puts us on track to deliver $750M in EBITDA in 2022. This translates to EPS between $3 and $3.50."