Sage announced that Agemark turned to the Sage Intacct financial management solution for comprehensive visibility into business performance. By upgrading from on-premises Sage 50 software and optimizing its use of Sage Intacct, the organization adopted mature, standardized financial practices. This allowed Agemark to only grow finance headcount 20 percent even as its network grew exponentially from 10 to 25 assisted living and memory care communities across six states.
As previously reported, Morgan Stanley analyst Joseph Moore upgraded Intel to Overweight from Equal Weight with a price target of $70, up from $60, stating that Pat Gelsinger is "likely the best case as CEO" given that he brings "more relevant experience to the unique requirements of the Intel job than any other candidate." As an Intel veteran, Gelsinger should have the connections to potentially rebuild the company's process expertise, said Moore, who admits that the transition might be negative for 2021 earnings as the company pulls back from the focus on shorter term earnings. However, the longer term opportunity looks clear following the CEO change, "particularly given the premium valuation put on strong cloud franchises," according to Moore.
BMO Capital analyst Ambrish Srivastava upgraded Intel to Outperform from Market Perform with a price target of $70, up from $50. The "richness of experience" that Pat Gelsinger brings from his prior tenure at Intel (INTC) as well as his experience running VMware (VMW) makes him the right person who can address the "daunting, but not insurmountable challenges" that Intel faces, Srivastava tells investors in a research note. Given the "series of disappointments" from Intel, even a "few incremental right steps ought to serve as a catalyst for shares," says the analyst. Srivastava now assumes that Intel shares "start to shake off the big discount" to the S&P 500. The analyst coupled the upgrade with a downgrade of AMD (AMD) to Underperform.
BMO Capital analyst Ambrish Srivastava downgraded AMD (AMD) to Underperform from Market Perform with a price target of $75, down from $80. The "richness of experience" that Pat Gelsinger brings from his prior tenure at Intel (INTC) as well as his experience running VMware (VMW) makes him the right person who can address the "daunting, but not insurmountable challenges" that Intel faces, Srivastava tells investors in a research note. Conversely, AMD has done a "tremendous job" under its CEO, and the stock's valuation reflects the "near flawless execution under her watch," says the analyst. However, Srivastava thinks a large part of AMD's "rich valuation is also attributable to how poorly Intel has executed." The analyst's scenario analysis suggests that AMD's share gains in servers should moderate out in 2022. Thus, consensus estimates will prove to be optimistic, says Srivastava.