A Green Light for Shares of Sherwin-Williams -- Barrons.com

舍温-威廉姆斯的股票亮起绿灯--Barrons.com

2020/06/27 10:15  Dow Jones Newswires

DJ A Green Light for Shares of Sherwin-Williams -- Barrons.com

These reports, excerpted and edited by Barron's, were issued recently by investment and research firms. The reports are a sampling of analysts' thinking; they should not be considered the views or recommendations of Barron's. Some of the reports' issuers have provided, or hope to provide, investment-banking or other services to the companies being analyzed.

Sherwin-Williams SHW-NYSE

Outperform Price $576.33 on June 23

by Baird Equity Research

Strength in the U.S. do-it-yourself market and diverse end-market exposure from the acquired Valspar coatings assets have partly offset challenges across other portions of Sherwin-Williams' portfolio. We continue to believe that the company remains advantaged in the current operating environment, with 2020 earnings probably biased to the upper end of its current guidance of $19 to $21 a share. Noting that Sherwin-Williams' earnings power is $25 to $27, we believe that our raised, $650 price target is realistic. That underlies our top pick designation.

BlackBerry BB-NYSE

Hold Price $4.92 on June 24

by Canaccord Genuity

BlackBerry reported solid results for the first quarter of its 2021 fiscal year. Strong licensing and solid enterprise sales helped offset the sharp decline in QNX revenue from the challenged auto market. [QNX software is used in driver-assistance and other systems.] While management has created a cogent long-term strategy, and the shares are potentially compelling for longer-term investors, we await more proof for upside to our estimates before becoming more constructive on the shares. Our $6 price target is based on roughly three times enterprise value-to-sales, based on our fiscal-2022 revenue estimate of $1.1 billion.

Lithia Motors LAD-NYSE

Buy Price $141.61 on June 25

by Benchmark

Lithia Motors provided a business update at the beginning of June. Since then, industry feedback has been increasingly positive. We have increased our earnings estimates to reflect better-than-expected unit sales in the new and used vehicle markets, as well as positive pricing.

Since 2013, Lithia has been the most aggressive dealer group, spending $2.3 billion on acquisitions that have contributed to its threefold increase in revenue. During its first-quarter earnings call, the company touched on topics that should provide above-market growth over several years: continuation of an active, disciplined acquisition strategy; expansion of [its system for buying and selling vehicles from the home]; permanent cost reductions of $200 million annually; and the expansion of a national branding strategy. We have increased our target price to $170 per share, up from $136, to reflect higher earnings assumptions.

Lockheed Martin LMT-NYSE

Four Stars (of five) Price $372.20 on June 19

by Morningstar

We view Lockheed Martin as the highest-quality defense prime contractor, given its exposure on the F-35 program and its missile business. We favor companies with growth profiles through a steady stream of contracts that are fulfilled over decades. The F-35, which accounts for about 30% of Lockheed Martin's revenue, will be sustained through 2070.

Regulated margins, mature markets, customer-paid research and development, and long-term revenue visibility allow the defense primes to deliver a lot of cash to shareholders In the first quarter, earnings per share grew 1.5%, to $6.08 a share, on 9.1% sales growth. Lockheed Martin slightly grew its record backlog, which gives us continued confidence in its future revenue-generating capacity. Although the company reduced its sales guidance slightly, it maintained its guidance for operating profit and cash from operations.

The three biggest growth opportunities we see for Lockheed Martin are the F-35, a large potential contract win on the Future Vertical Lift program, and the hypersonic missile and missile-defense programs. We are maintaining our $429 fair value estimate.

Codexis CDXS-Nasdaq

Buy Price $11.12 on June 24

by H.C. Wainwright

Codexis has entered into a partnership with Molecular Assemblies (a private company) to engineer enzymes for the synthesis of DNA. Molecular Assemblies focuses on developing next-generation technology to produce synthetic DNA for a broad range of industries, including synthetic biology, therapeutics, diagnostics, agriculture, bio-computing, and DNA data storage. In our view, combining Codexis' protein engineering expertise with Molecular Assemblies' advanced chemistry know-how could [help Codexis] become a serious player in DNA synthesis, which we believe is still in the early stages of growth. Price target: $21.

Wingstop WING-Nasdaq

Buy Price $133.88 on June 23

by Stifel

We are raising our fiscal second-quarter EPS estimates to reflect a higher margin projection at company-owned restaurants, driven by lower commodity costs and higher per- meal spending by customers. The brand is building greater awareness among heavy fast-food consumers. It recently created a new incentive program to encourage existing franchisees to pull forward their development plans, which we expect to be utilized once construction resources become more available. Target price: $140.

To be considered for this section, material should be sent to Research@barrons.com.

(END) Dow Jones Newswires

June 26, 2020 22:15 ET (02:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

DJ为Sherwin-Williams的股票开了绿灯--Barrons.com

这些报告由Barron‘s摘录和编辑,最近由投资和研究公司发布。这些报告只是分析师想法的样本;它们不应被视为Barron‘s的观点或建议。报告的一些发行人已经或希望向被分析的公司提供投资银行或其他服务。

舍温-威廉姆斯SHW-NYSE

强于6月23日的576.33美元

作者:Baird Equity Research

美国DIY市场的实力和收购的Valspar涂料资产对终端市场的多样化敞口,在一定程度上抵消了Sherwin-Williams投资组合其他部分面临的挑战。我们仍然认为,在目前的运营环境下,该公司仍然具有优势,2020年的收益可能偏向于目前每股19美元至21美元的指引的上端。注意到舍温-威廉姆斯的盈利能力是25美元到27美元,我们认为我们提高后的650美元的目标价是现实的。这是我们的首选称号的基础。

黑莓BB-纽约证券交易所

6月24日持有价格4.92美元

作者:Canaccel Genuity

黑莓公布了2021财年第一季度的稳健业绩。强劲的许可和稳健的企业销售帮助抵消了来自面临挑战的汽车市场的QNX收入大幅下降的影响。[QNX软件用于驾驶员辅助和其他系统。]虽然管理层已经制定了令人信服的长期战略,而且股票对长期投资者具有潜在的吸引力,但在对股票变得更具建设性之前,我们还在等待更多的证据证明我们的预期会上升。我们6美元的目标价格是基于企业价值与销售额之比的大约三倍,基于我们2022财年收入估计的11亿美元。

Lithia Motors LAD-NYSE

6月25日买入价141.61美元

按基准

Lithia Motors在6月初提供了业务最新情况。自那以后,行业反馈越来越积极。我们提高了收益预期,以反映新车和二手车市场好于预期的单位销售,以及积极的定价。

自2013年以来,Lithia一直是最积极的交易商集团,斥资23亿美元进行收购,使其营收增长了三倍。在第一季度收益电话会议上,该公司谈到了几年内应能提供高于市场的增长的主题:继续积极、有纪律的收购战略;扩大[它的从家里买卖车辆的系统];每年永久削减2亿美元的成本;以及扩大国家品牌战略。我们已将目标价从每股136美元上调至170美元,以反映更高的收益假设。

洛克希德·马丁LMT-纽约证券交易所

四星级(共五颗)6月19日售价372.20美元

晨星(Morningstar)

考虑到洛克希德·马丁在F-35项目和导弹业务上的风险敞口,我们认为洛克希德·马丁公司是最高质量的国防主承包商。我们倾向于通过数十年来履行的稳定的合同流来支持具有增长概况的公司。F-35占洛克希德·马丁公司收入的30%左右,将持续到2070年。

受监管的利润率、成熟的市场、客户付费的研发和长期的收入可见性使得国防优质公司在第一季度为股东提供了大量现金,每股收益增长1.5%,达到每股6.08美元,销售额增长9.1%。洛克希德·马丁公司(Lockheed Martin)的积压订单略有增加,这让我们继续对其未来的创收能力充满信心。虽然该公司略微降低了销售指引,但维持了对营业利润和运营现金的指引。

我们看到洛克希德·马丁公司最大的三个增长机会是F-35,这是未来垂直提升计划的一个巨大的潜在合同胜利,以及高超声速导弹和导弹防御计划。我们维持我们429美元的公允价值估计。

Codexis CDXs-Nasdaq

6月24日买入价11.12美元

H·C·温赖特(H.C.Wainwright)著

Codexis已经与分子组装公司(一家私人公司)建立了合作伙伴关系,设计用于合成DNA的酶。分子组装公司专注于开发下一代技术,为广泛的行业生产合成DNA,包括合成生物学、治疗学、诊断学、农业、生物计算和DNA数据存储。在我们看来,将Codexis的蛋白质工程专业知识与分子组装公司的先进化学技术相结合,可以[帮助Codexis]成为DNA合成的重要参与者,我们认为DNA合成仍处于增长的早期阶段。目标价:21美元。

翼止翼-纳斯达克

6月23日买入价133.88美元

作者:斯蒂费尔

我们正在上调我们第二财季的每股收益预期,以反映在大宗商品成本下降和客户每餐支出增加的推动下,公司拥有的餐厅利润率将更高。该品牌正在快餐重度消费者中建立更高的知名度。它最近创建了一个新的激励计划,以鼓励现有的特许经营商提前他们的发展计划,我们预计一旦建设资源变得更加可用,这些计划就会得到利用。目标价:140美元。

要在本节中考虑,应将材料发送至Research@Barrons.com。

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2020年6月26日美国东部时间22:15(格林尼治标准时间02:15)

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