The no-moat firm has more earnings stability than other processors thanks to its diverse mix of businesses.
We are maintaining our no-moat ratings and lowering our fair value estimates for 3D Systems and Stratasys.
Despite more negative news, we're confident in the firm's ability to maintain its long-term competitive advantage and remain one of the top players in the digital advertising space.
We plan to trim our fair value estimate as we temper our near-term sales and profitability forecast for Pinnacle.
We've trimmed our near-term growth expectations for international operations and moderated our margin improvement expectations for Express.
The Fed raised its target rate range to 2.25%-2.5% but took a more dovish tone with future hikes.
Even with the mid-single-digit percentage uptick in the share price after the earnings release, we continue to think the name offers an attractive entry point.
GE Healthcare's size would rank as one of the world's largest for a public healthcare company, but we're not making any changes to our fair value estimate on the news.
We model fiscal 2019 to be down considerably, but we expect a solid recovery thereafter thanks to the proactive efforts of the key memory participants.
The wide-moat firm's EPS beat was largely driven by the $10 billion in share repurchases this quarter and does not represent a fundamental change in the business.
Moonves is likely to sue the board over the investigation as the findings not only stop him from collecting his severance but make him almost unhirable.
We expect the South Carolina Public Service Commission will issue a written order next week, and the acquisition will close shortly thereafter.
The airliner looks poised to reignite margin expansion heading into 2019.
The wide-moat firm continues to post strong organic growth as demand from both consumers and enterprises remains robust.
We are maintaining our fair value estimate as well as our very high uncertainty rating as the narrow-moat firm creates a new digital entity.
The wide-moat retailer has considerable advantages at its disposal, but shares are rich.
Deleveraging must be a priority, and with heightened menthol risk likely to linger for at least two years, we expect dividend growth to slow.
Higher financial leverage and low pricing on recent asset sales drove our reassessment.
Both parties filed their proposed orders with South Carolina regulators, and a decision should be made by Dec. 21.
The narrow-moat firm appears to be taking the right steps to return to organic growth in North America and expand overall margins.
The changes are due chiefly to our revised U.S. land drilling forecasts.
The current CEO of Roche's pharmaceutical division, Daniel O'Day, will leave Roche at the end of 2018 and for Gilead, cementing the firm's oncology commitment.
We expect the firm's long-term performance will be characterized by low-single-digit revenue growth and operating margins over the next decade.
Longer term, we think Broadcom is part of the heavyweight class of chip leaders and boasts intangible assets.
We still view Yum as a core holding offering a balance between global growth and capital allocation.
While we believe the restructuring makes strategic sense, the related one-time costs are higher than we expected.
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.