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Why top analysts say buy stocks like Qualcomm & Humana

first_img2011 Gain: $32.87 (60%) 2011 Closing price: $87.61 Last year, investors turned away from HMO stocks such as this, fearing the impact of a new health care overhaul rule involving medical-loss ratios. However, Humana showed it was able to manage the new regulation and in October delivered better-than-expected profits and a better-than-expected forecast for 2012. Stephen Weiss, partner at Short Hills Capital, “At eight times earnings, you’re owning a stock that’s still cheap and very, very defensivPhoto: Humana.com – Advertisement – The FDA has 60 days to review the final submission, and after this, if the application is acceptable for review, a PDUFA goal date will be set. It should be noted that the drug was granted Breakthrough Therapy Designation (BTD) in 2019, reducing the review time from 10 months to 6 months.“We see scope for Provention to meet its prior guidance of a potential U.S. approval of teplizumab for the delay or prevention of T1D in at-risk individuals in mid-2021… Teplizumab is a potential breakthrough asset, with highly significant results in subjects ‘at-risk’ for end-stage T1D,” Amusa commented.Looking at the Phase 2 “at-risk” study, even though it’s smaller in size, the data represents the “first demonstration of therapeutic modulation of disease progression in T1D, strongly supporting Provention’s approach to treating autoimmune disease in the early stages,” in Amusa’s opinion. In addition, the therapy was praised in an editorial published in the New England Journal of Medicine.What’s more, Amusa estimates the at-risk population is a blockbuster opportunity just in the U.S. Based on information from the JDRF T1 Fund, there are over 300,000 stage 1-2 T1D patients in the U.S. and 2.3 million worldwide. “300,000 U.S. patients at a $60,000 one-time price for a course of treatment implies a $18 billion total market opportunity. A 60,000 per year transitioning population for each stage implies a $2.4 billion per year recurring total market opportunity,” he explained.Taking the #99 spot on TipRanks’ ranking, Amusa is currently tracking a 31.8% average return per rating.FabrinetFabrinet has just received a thumbs up from Needham’s Alex Henderson, with this five-star analyst putting an $85 price target (29% upside potential) and a buy rating on the stock on November 3.In the most recent quarter, the optical communications device company handily beat Henderson’s revenue and EPS estimates by 4.4% and 7%, respectively, and posted year-over-year growth of 9.4% and 22.9%, respectively. All of this was achieved despite an uncertain backdrop, with pressure on Huawei and Service Provider spending also reflected. Putting it simply, Henderson said, “These are good results.”Henderson argues that investors have been waiting to see Huawei’s impact fall out of its numbers, and now that the “fourth quarter bridge has been crossed, the upside is all that remains.”Cisco is moving a large portion of Systems products to Fabrinet, which could exceed $250 million annually, according to Henderson. However, he points out that the reported numbers only reflect a minor contribution from the Cisco transition, but this should really ramp in CYQ1 2021 and reach full run rate by June, with the first full quarter run rate expected in September.The analyst further mentioned, “We think the scale of this additional business is generally not reflected in the outlook and Street estimates… It should add at least $50-$60 million to Revenues year-over-year. The Street estimates have CYQ3 Revenues at $454 million up $18 million. We think the Fabrinet without Cisco could hit this number. If the rest of FN was flat it would do $486-$496 million. That’s a lot of upside.”TipRanks shows that the #153-rated analyst scores a 57% success rate and a 20.4% average return per rating.LivePersonSince CFO John Collins came on board, business messaging and communications software company LivePerson has placed a significant focus on implementing a data-driven approach across all aspects of the business, giving five-star analyst Ryan MacDonald, of Needham, “increased confidence in the improving trajectory of the business.”Taking an even more bullish stance, on October 30, MacDonald increased the price target from $60 to $65, in addition to reiterating a Buy rating. The new price target puts the upside potential at 5%.Based on the results from its third quarter, MacDonald argues the data-driven approach appears to be working. The company delivered a “Rule of 40 with a combination of 26% revenue growth and 18% free cash flow margin.” This marked LPSN’s first quarter of positive free cash flow since Q4 2018, with it highlighting “the progress the company is making on expense optimization while producing strong top line growth,” in the analyst’s opinion.“LPSN is adamant that the pandemic-driven increases in usage are sustainable and indicative of a structural shift in the market… When combining this with the operational efficiencies that the company is implementing across the organization, we remain confident that LPSN can continue to accelerate growth and expand margins,” MacDonald commented.Some investors expressed concern that new logos have yet to rebound. However, MacDonald believes there is a “strong near-term expansion opportunity in the existing base can support growth acceleration while new reps and channel partners ramp.” As a result, he is a buyer at current levels.Given MacDonald’s 81% success rate and 40.4% average return per rating, he is among TipRanks’ Top 45 best-performing analysts.QualcommOn November 4, Deutsche Bank’s Ross Seymore maintained a buy rating on Qualcomm following a beat and raise quarter for the semiconductor company. Reflecting an additional bullish signal, the five-star analyst boosted the stock price forecast from $127 to $150, implying upside potential of 16%.Shares of Qualcomm surged over 11% in after-hours trading in response to the print. Looking at the details, it reported fiscal Q4 revenue of $6.5 billion, up 33% quarter-over-quarter. The analysts were expecting revenue of $5.9 billion. Non-GAAP EPS of $1.45 beat the Street’s $1.17 call. Although gross margin declined by 60 basis points quarter-over-quarter to 58.7%, it exceeded the 58.1% consensus estimate.When it came to its guidance for the upcoming quarter, Qualcomm didn’t disappoint. Management expects revenue to be in the range of $7.8 billion-$8.6 billion, up 26.1% quarter-over-quarter at the $8.2 billion midpoint. This easily beat the $7.1 billion consensus estimate.According to management, the ramp of 5G networks and handsets drove the strong performance, with Qualcomm’s CEO stating that the results included a “partial quarter impact” from a large handset producer in the U.S.Based on this “strong beat/raise,” Seymore argues Qualcomm is the “premier way” to play the expansion set to take place in the 5G handset space over the next year.As the analyst boasts an 82% success rate and a 28% average return per rating, Seymore is Wall Street’s 24th best-performing analyst.HumanaFollowing Humana‘s strong Q3 performance, Oppenheimer’s Michael Wiederhorn continues to see the health insurance company as a compelling play in the space. Accordingly, the five-star analyst reiterated a buy rating and $460 price target (2% upside potential) on November 3.For Q3, adjusted EPS came in at $3.08, well ahead of the $2.80 consensus estimate. Additionally, utilization bounced back to 95% of historical baseline levels by the end of the quarter, with non-coronavirus utilization expected to remain below normal levels in Q4.Although HUM guided for a Q4 EPS loss of between $2.29-$2.54, this factors in its investments in the Medicare channel, with this area of the business reflecting a significant market opportunity, in Wiederhorn’s opinion. On top of this, given the potentially “more favorable reimbursement environment and the maturation of its high-growth member base,” HUM could drive an improvement in margins.“Given the attractive growth of the company’s Medicare Advantage (MA) business, we believe Humana should return significant returns to shareholders,” Wiederhorn noted.Management also mentioned that the recently issued 2022 proposed rate increase of 2.82% for MA will likely, “benefit the company similarly to the overall market,” adding that 92% of members are in 4+ Star plans.With a 75% success rate and 21% average return per rating, Wiederhorn lands within the Top 30 on TipRanks’ list of best-performing analysts. While it’s now becoming clear Joe Biden will take the White House, investors are betting that Congress will be split, leaving President Trump’s corporate tax policy unchanged.“Up until about last week, the consensus belief was a full blue sweep — now that’s changing you’re seeing a repricing taking place in the market… a more status quo Senate may ease the burden of regulations on the tech sector,” Anna Han, an equity strategist at Wells Fargo Securities, commented.That said, as many factors remain uncertain, finding stocks primed to outperform the broader market isn’t easy.- Advertisement –center_img One approach is to look at the recent stock picks from analysts that consistently get it right. TipRanks analyst forecasting service attempts to identify Wall Street’s best-performing analysts, or the analysts with the highest success rate and average return per rating, tracked on a one-year basis.Here are the best-performing analysts’ five favorite stocks right now:Provention BioOn November 2, biotech company Provention Bio revealed the rolling submission of the BLA for teplizumab, a therapy that could potentially delay or prevent clinical type 1 diabetes (T1D) in at-risk patients, had been completed. For Chardan analyst Gbola Amusa, this development reaffirms his confidence in PRVB, with the company remaining a “Top Pick for 2020.” To this end, he reiterated a Buy rating and $35 price target (169% upside potential) after the news broke.- Advertisement – – Advertisement –last_img read more

Asset management costs ‘to drop by 10%’: survey

first_imgGwynne pointed out that the pressure on fees was in part due to clients and supervisors becoming increasingly cost-aware, “as costs have become an important selection criterion”.In his opinion, another explanation for declining costs was that many clients had opted for low-cost alternatives, such as ETFs and factor investment. He estimated that 40% of the reduction could be explained by this phenomenon.The survey suggested that asset managers dealt with the development by accepting a drop in their profits margin, but also cut costs through their back office. This meant that cost-saving came at the expense of investment in IT systems, which the survey said were necessary to remain competitive. In addition, declining income could lead to mergers and takeovers, the two companies said.The researchers said they expected clients would increasingly opt for extremely low-cost investments in combination with higher-cost active investments.“Through investing a large proportion of assets in ETFs with near-zero costs, they could free up assets for active funds which considerably deviate from the benchmark, or funds that invest in illiquid markets,” the report said.Recently, Saker Nusseibeh, chief executive of Hermes Investment Management, also predicted declining margins at asset managers.During a Morningstar conference, he said that asset managers’ margins of between 35% and 45% were “untenably high”. Asset management costs are to drop by approximately 10% in the next three years, a survey by management consultancy Oliver Wyman and asset manager Morgan Stanley has suggested.In their report, The World Upside Down, the two firms attributed the decline to reduced fees as well as a shift towards exchange-traded funds (ETFs) and factor investment.“The decrease of fees is a trend – last year they dropped 6%,” said Serge Gwynne, partner at Oliver Wyman’s corporate and institutional banking practice.He added that the fall was insufficiently compensated by a rise in assets under management, which had lead to an income drop of roughly 5% at asset managers.last_img read more

Racing Post ups international content to replace shortfall in British racing

first_imgShare Submit Spotlight delivers Racing Post translated services for Pari-Engineering Russia August 26, 2020 Share Related Articles Spotlight Sports Group enhances US content July 8, 2020 Spotlight ups matchday commentary reach and capacity for new EPL Season  August 21, 2020 StumbleUpon The Racing Post has committed to delivering ‘all available global racing content’ to both its customers and partners, as the sport faces an unprecedented time of cancellations and postponements.In light of the COVID-19 pandemic, Racing Post has scaled up its coverage of horse racing content from territories where racing is continuing, including USA, South Africa and Hong Kong. This will be supported by the group’s full service for Irish horse racing and British and Irish greyhounds.Earlier this month, the British Horseracing Authority (BHA) confirmed that it had temporarily suspended all UK racing events until the end of April, due to ongoing COVID-19 concerns.Discussing the effects of COVID-19 and how the group is supporting partners’ racing products during the shutdown, Spotlight Sports Group B2B director Eugene Delaney said: “This is an extremely challenging time for everyone involved. The safety of our staff, customers and partners remains our top priority and we have done everything possible to ensure our own employees are safely working from home.“Our expert editorial and tipping teams are focused on delivering content for our partners and customers and we have very quickly scaled up our international racing capabilities to deliver this new content to existing partners.“Across the Racing Post app, website and newspaper we are covering a broad range of racing from across the globe. With racing still happening in a number of territories worldwide we will continue to provide expert content to help engage customers on our partners’ websites.”last_img read more

Phoenix Open: Rickie Fowler enters final round in charge; Matt Kuchar, Justin Thomas trail

first_imgSCOTTSDALE, Ariz. — There are a few tournaments Rickie Fowler would really like to win: any of the four majors, the Farmers Insurance Open at Torrey Pines Golf Course and the Waste Management Phoenix Open.He is now 18 holes away from a victory at the latter. Fowler finished the third round at the Phoenix Open with eight birdies, five of which came on the front nine. By the time he made the turn, he put just enough distance between himself and the rest of the 36-hole leaders. He carded a 7-under 64 for first place (20 under).20-UNDER!@RickieFowler takes a 4-shot lead into Sunday.#LiveUnderPar pic.twitter.com/oq1IXj2r0U— PGA TOUR (@PGATOUR) February 2, 2019″(I’m) just playing solid golf,” Fowler said. “I’m looking forward to tomorrow. There’s 18 holes left, a lot of work, but we’re in a good spot.” Related News Phoenix Open: Rickie Fowler in sole possession of 1st place after shooting 6-under 65 Matt Kuchar is in sole possession of second place (16 under) after shooting a 6-under 65. Justin Thomas rounded out the top three after he carded 3-under 68.Kuchar climbed three spots up the leaderboard after a mistake-free round highlighted by six birdies. Thomas, however, wasn’t as fortunate. He had two bogeys on the front nine which sandwiched one of his five birdies. He was able to edge out Byeong-hun An and Branden Grace for third-place (15 under) and a spot in the final group Sunday.”I hit a very nice back nine to at least keep myself in it,” Thomas said. “There’s a good chance it might take something special for me tomorrow but I like the fact at least that I got my way in that final group and I’m going to know what [Rickie] is doing.”Hopefully I can get off to a hot start and maybe put a little bit of heat on him.”An and Grace are tied for fourth place (13 under). An, who has yet to win on the PGA Tour, is in contention after shooting 5-under 66. Grace had an eagle on the par-5 13th hole but three bogeys stained his scorecard. He finished 2-under 69.Gary Woodland, last year’s Phoenix Open champion, is in a two-way tie with Bubba Watson for sixth place (12 under). Watson had three consecutive birdies on the front nine, but after the turn had two bogeys to go along with two more birdies. He carded 3-under 68.Birdie-Birdie-Birdie for @BubbaWatson.He’s T2 at the @WMPhoenixOpen. #LiveUnderPar pic.twitter.com/YjFJfGFj3b— PGA TOUR (@PGATOUR) February 2, 2019Woodland was able to improve on his two-day total and move into the top 10. “It was a nice finish. I played really well today,” he said. “(I’m) just hoping Rickie wouldn’t run too far away from us because tomorrow, hopefully, the golf course is softened up a little bit and we’ll play aggressive. But I’m happy with where I’m at.”Showers are in the forecast for the final day of play which will begin at 8:45 a.m. local time with the leaders teeing off at 10:45 a.m.last_img read more