With fuel prices moderating and stronger new vehicle sales cohorts entering the company's sweet spot, we continue to see opportunities for AutoZone to grow while holding profitability near recent levels.
Despite guidance cut, we remain confident in the firm's ability to maintain its footprint and expand existing relationships across multiple touch points with their cloud platform.
High-end demand remains strong for the automaker.
The sale of noncore consumer assets should allow the firm to focus on other consumer products while the purchase of Tesaro improves its standing in the PARP oncology setting.
Pfizer won't be able to access the U.S. market with its biosimilar version until late 2023, providing AbbVie with additional years of exclusivity and strong cash flows.
We suspect AT&T will meet its 2019 leverage target given the extreme management focus on this effort, but we remain negative on the prospects for the consumer segment.
The wide-moat tobacco giant may take a stake in the U.S. vaping startup, but we have reservations about the timing of the deal and potential valuation.
Our investment thesis for the no-moat retailer remains intact after its third-quarter update, as the company navigates several merchandise assortment changes.
New CEO Pierre Laubies should be able to leverage his experience to help Coty successfully integrate the assets acquired from Procter & Gamble while extracting cost synergies and reducing its debt load.
The wide-moat firm benefits from strong switching costs and a network effect related to its platform-based software offerings.
The latest merger deal appears to have won support from key opponents.
We are raising our fair value estimate for the no-moat firm.
The wide-moat firm's agreement with Daniel Loeb and Third Point brings the months-long proxy battle to an end.
In the long term, we think the narrow moat firm's margin expansion story remains.
Third-quarter profitability was lackluster, and we think investors should wait for a more attractive entry point.
We'd prefer a wider margin of safety as shares of the firm appear fairly valued.
We're trimming our fair value estimate for the no-moat firm but still suggest investors await a more attractive entry point.
Online growth continues to impress, while shares of the wide-moat firm are trading at a premium.
Berkshire holdings Wells Fargo and Goldman Sachs are currently trading at steep enough discounts to recommend.
We are lowering our fair value estimate for the firm while maintaining our wide-moat but negative moat trend ratings.
Our fair value estimate remains unchanged for the narrow-moat firm.
We are reassessing our fire liability valuation, uncertainty rating, and cost of capital assumption for the firm.
Strength in its domestic physical and digital operations has propelled results, and we expect the retailer to continue to successfully adapt to a changing retail landscape.
The narrow-moat firm showed strength across all business segments and provided strong guidance for next quarter.
The Oracle of Omaha and his lieutenants initiated positions in JPMorgan Chase and Oracle, among others, last quarter.
We're not changing our fair value estimate as the firm faces a highly competitive retail industry.
These investments should ensure the firm is able to weather competitive pressures.
Scaled parts retailers like Advance are relatively well insulated from digital threats.
Even with a housing slowdown, the wide-moat retailer is well positioned for continued growth.
We've trimmed our estimates for PG&E and Edison International to reflect possible liabilities.
Despite the Frances holding more than 70% of the voting power to affect the transaction, we believe there are a few mitigating factors that could delay a formal bid.
The firm's efforts to reignite its sales and profit trajectory are gaining traction.
Shares of the stock are trading at a discount, creating an attractive entry point for this no-moat and very high uncertainty name.
We plan to lower our fair value estimate for the narrow-moat firm.
Profits were pressured in the quarter, but we are reiterating our fair value estimate and no-moat rating for the managed-care organization.
We are maintaining our wide moat rating and our fair value estimate.
We are reiterating our fair value estimate for the narrow-moat firm.
The narrow-moat firm reported strong cash flow during the quarter.
Cost pressures remain, but we still think the narrow-moat firm benefits from its scale advantages and low-cost position.
We are leaving our fair value estimate in place after slightly better than expected results.
We're planning to raise our fair value estimate after comparable-store sales reversal in U.S. and China.
Our fair value estimate and narrow economic moat rating remain intact.
The Cigna merger is on track, and we are maintaining our $92 fair value estimate and wide moat rating after a solid quarter for Express Scripts.
Expectations of a more tepid holiday quarter have sent shares of the wide-moat firm lower, but we’d wait for a more attractive price before diving in.
Shares of the wide-moat firm are trading at a discount after mixed third-quarter results.
Our long-term outlook for the narrow-moat firm remains as new CEO Larry Culp begins his turnaround efforts.
We are lowering our fair value estimate for the narrow-moat firm and think shares remain undervalued.
We believe CEO Larry Culp will take action to close the gap between the stock's price and the firm's intrinsic value when it reports Tuesday.
We see potential for margin improvement despite debt load and some sales weakness.
Revenue growth trends raise questions, but we still remain confident the wide-moat firm's longer-term disruption and free cash flow potential.