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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 15:07 EDT
After Bloomberg reported that Nokia (NOK) is working with advisers to explore strategic options, JPMorgan analyst Sandeep Deshpande said that the company's "only viable" options are a sale to an unrelated tech company or asset sales. A deal with Ericsson (ERIC) is "completely unlikely" and one with Samsung (SSNLF) is "more likely but not substantially so" given that Western governments and regulators want more players in 5G, not less, Deshpande contends. A sale to a U.S. company would likely be welcomed in the U.S., but "obvious choices" such as Cisco (CSCO) or Apple (AAPL) are unlikely to be interested, the analyst believes. While a smaller U.S. technology company exposed to government contracts could have interest, he cannot identify an "obvious acquirer," added Deshpande, who has a Neutral rating and EUR 3.75 price target on Nokia shares.
News For NOK;ERIC;SSNLF;AAPL;CSCO From the Last 2 Days
Apr 12, 2021 | 09:52 EDT
Trading card maker Topps has announced a deal to become public through a Mudrick Capital combination. Sporting goods retailer... To see the rest of the story go to See Story Here
Apr 12, 2021 | 09:46 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly.  'APPLE-ESQUE' ECOSYSTEM: Canaccord... To see the rest of the story go to See Story Here
Apr 12, 2021 | 05:59 EDT
Apple faces supply constraints due to issues with MiniLED display production, but still plans to debut two iPad Pros later this month, Bloomberg's Debby Wu and Mark Gurman report, citing people familiar with the matter. The new iPad Pro models will be Apple's first major hardware launch of 2021, Wu and Gurman note. Reference Link
Apr 12, 2021 | 05:33 EDT
Canaccord Genuity analyst Jed Dorsheimer upgraded Tesla (TSLA) to Buy from Hold with a price target of $1,071, up from $419. The stock closed Friday down $6.78 to $677.02.The company is positioned to "attack and conquer" another trillion-dollar market as its ramps up its focus on energy generation and storage, Dorsheimer tells investors in a research note. The analyst predicts Tesla's generation and storage unit could yield $8 billion of revenue by 2025. Tesla "is rapidly creating an Apple-esque ecosystem of energy products, harmonized in electrification, to become The Brand in energy storage," Dorsheimer writes. The analyst believes that as battery supply constraints ease, Tesla will be able to meet demand for its Powerwall home storage. Tesla "holds a several-year lead and is now expanding aggressively into storage and thus feel our multiple is warranted," writes Dorsheimer.