We continue to be concerned about Dropbox's competitive position in what we believe will be a commoditized cloud storage industry.
Despite the dividend cut, profit contraction, and SEC investigation, we think shares are undervalued.
The narrow-moat firm's brand investments should support solid volume performance.
The narrow-moat firm's results blew past expectations.
This will likely be a more onerous transition year than originally anticipated.
The low-cost carrier cut its first-quarter revenue forecast.
Strong domestic performance drove full-year results, showing that the wide-moat retailer enjoys enduring competitive advantages that should allow it to deliver returns even as retail changes.
We continue to believe that the NASH opportunity is not fully baked into shares.
The GPU titan beat recently lowered expectations, but its full-year outlook calls for no growth.
The firm also increased its stake in JPMorgan Chase and other financials.
We expect to trim our fair value estimate and would suggest investors await a more favorable entry point.
We are increasing our fair value estimate for the narrow-moat firm.
The narrow-moat firm is fairly valued, and we believe investors looking for online travel exposure should look to undervalued Expedia.
Management is calling this a transition year, and we are lowering our fair value estimate.
We have confidence in our long-term forecast and see no changes to our fair value estimate for the narrow-moat firm.
The continued strong data in multiple cancers reinforces the strength of Keytruda across multiple indications.
We plan to raise our fair value estimate for the narrow-moat firm.
We are maintaining our wide moat rating but are raising our fair value estimate.
We are reiterating our fair value estimate and our wide economic moat rating for the firm.
The toymaker was hit by a decline in retail sales, but we see improvement after the first half of the year.
The no-moat firm will have to invest heavily to keep users coming back to its platform, and we recommend a wider margin of safety before investing.
The move would create a superregional with roughly $442 billion in assets, the sixth-largest U.S.-based bank.
We're planning to increase to our fair value estimate and would wait for a more attractive entry point.
We're not planning to change our fair value estimate for the no-moat firm.
The wide-moat firm is putting the focus on Fox media assets and direct-to-consumer efforts.
We are maintaining our fair value estimate on the no-moat firm, and it is trading at a significant discount.
Shares of the Google parent look undervalued as the firm continues to monetize its users and attract more ad dollars.
Shares are trading around a 15% premium to our valuation for the wide-moat firm.
With Bill Gross' fund performance faltering again in 2018, we weren't surprised by the announcement and are leaving our fair value estimate in place.
The narrow-moat firm's results show that it is withstanding intense competitive and macro headwinds well, and our long-term outlook remains.
Our fair value estimate and narrow moat rating are unchanged for the firm.
The market's fixation on the wide-moat firm's near-term revenue is overshadowing its dynamic long-term cash flow model.
The wide-moat firm's core drug distribution business posted gains of 6% in results that were largely in line with expectations.
We're maintaining our fair value estimate for the wide-moat firm.
Results for the wide-moat firm beat expectations, even as the social media giant addresses data security and privacy issues.
Tesla's results were slightly ahead of expectations and we still see shares as overvalued.
McDonald's fourth-quarter update solidified our view that the firm's technology investments are having a positive impact on sales.
Cash generation was the one weak spot in firm's results, and we view shares as slightly overvalued.
As expected, the Fed didn't raise rates today, and we see signs the central bank has taken a significantly more dovish turn.
The narrow-moat firm reported solid margins, and we don't expect to change our fair value estimate.
Fourth-quarter results were a mixed bag, and we see shares as fairly valued.
We think Apple will resume mid-single-digit sales growth in fiscal 2020 despite the potential for continued weakness in China.
As the utility heads into bankruptcy, we still think shareholders won't be left empty-handed.
The wide-moat drugmaker's lower than expected 2019 guidance doesn't dent our view that the firm will be bolstered by an improving pipeline.
We're placing our fair value estimate under review after weak results from the firm's construction industries segment.
We are raising our fair value estimate for the narrow-moat firm.
The wide-moat coffee giant is one of the most attractive names in the restaurant industry today, and we see no change to our fair value estimate.
Near-term headwinds weighed on the chipmaker, but our long-term thesis is intact.
We continue to view the stock as undervalued after total sales matched expectations.
Shares of the wide-moat firm look cheap today.