Details around its COVID-19 vaccine program were the highlight of Q3, but other drugs in the pipeline also demonstrated decent progress.
We plan a modest raise to our McDonalds $225 fair value estimate based on more optimistic near-term top and bottom line results and see shares as slightly undervalued.
With the vaccine’s efficacy over 90% and no major safety issues observed, we believe Pfizer and BioNTech's vaccine is set up for emergency use in late 2020, followed by full approval in 2021 pending supportive final data.
The two major U.S. election scenarios will not change our view of the healthcare industry's moats or valuations.
We're lowering our fair value estimate for the wide-moat drug manufacturer.
We do not anticipate making any major changes to our share fair value estimate.
Although the outcome of the U.S. election is still uncertain, we do not expect the results to affect our valuations or moat ratings in the biopharma industry.
We still view shares as undervalued.
We continue to be impressed with the gradual improvement in the mobility business and are raising our fair value estimate.
We forecast that interest rates will stay near zero through 2024.
Every ballot measure was approved.
With the U.S. election results still uncertain, all the possible scenarios for healthcare policy changes remain on the table.
California voters approved Proposition 22, which allows Uber and Lyft to categorize drivers as contractors.
We are retaining our $54 fair value estimate and wide moat rating.
We are reaffirming our fair value estimates and moat ratings.
We don't expect a material change our $111 per share fair value estimate.
Despite three consecutive quarterly losses, we're maintaining our $74 fair value estimate and narrow moat rating.
We continue to see the company as undervalued and maintain our narrow moat rating.
With new restaurant formats and operational efficiencies, we think Starbucks is poised for profitable market share gains in the years to come. We plan to raise our fair value estimate.
With the better-than-expected third-quarter results and increasing confidence in digital ad demand, we have increased our projections.
We are increasing our fair value estimate and view the wide-moat stock as fairly valued.
The natural question investors might be asking is how much of wide-moat Amazon's recent momentum is tied to pandemic demand and how much reflects structural changes?
We are raising our fair value estimate for narrow-moat Apple to $85 per share from $71 as we incorporate a stronger near-term outlook for the Mac and iPad segments due to ongoing work- and learning-from-home dynamics.
The wide-moat brewing company had an encouraging performance in the third quarter. We retain our fair value estimate.
Narrow-moat General Electric surpassed our expectations year to date on its top line, earnings per share, and industrial free cash flow.
We are slightly reducing our fair value estimate for Boeing to $260 per share from $264 as management indicated they do not expect to return to free cash flow positivity until 2022 due to a buildup of 787 inventory.
We are slightly reducing our fair value estimate for the wide-moat company as management indicated they do not expect to return to free cash flow positivity until 2022.
Ford had a strong third quarter with adjusted diluted EPS of $0.65 up 91% year over year and far ahead of the $0.19 Refinitiv consensus. We are raising our fair value estimate to $13 from $8.
We are leaving our $125 per share fair value estimate in place.
We have once again lowered our fair value estimate for Gilead, and now value the firm at $75 per share following third-quarter earnings.
The company finished the fiscal year roughly in line with our expectations, and we will maintain our fair value estimate and wide moat rating.
Our fair value estimate and moat rating remain the same, but we have increased our 2020 and 2021 forecasts to reflect a better-than-expected recovery.
We plan on maintaining our fair value estimate and wide moat rating.
AMD reported strong third-quarter results that exceeded our expectations led by PC, server, and game console growth. The firm also announced it will purchase narrow-moat Xilinx in an all-stock transaction valued at $35 billion.
A variety of generally minor model refinements drive our Microsoft fair value estimate to $235 from $228 per share. We still see more than 10% upside to this high-quality wide-moat name.
We raise our fair value estimate to $180 per share, from $166 previously. It is our hope that the company continues to deliver on growth once again and re-earn both its premium multiple and reputation as a reliable short-cycle business, whose stocks are best to buy in the early parts of the cycle.
The wide-moat drug manufacturer plans to release key data on COVID-19 vaccine shortly.
We continue to view Merck as undervalued, with the market not fully appreciating the firm’s strong immuno-oncology platform.
The wide-moat drug manufacture plans to acquire Asklepios BioPharmaceuticals.
The reported buyout price is a 42% premium to our $75 fair value estimate.
The transaction will align two integrated companies and reduce exposure to the heavy oil discount.
This wide-moat company's long-term future is still promising as we view shares as undervalued.
We don’t expect to materially change our $37 fair value estimate or narrow moat rating; we believe the stock is attractive.
We expect Alphabet’s network effect and intangible asset moat sources to remain intact and are maintaining our wide moat rating amid antitrust suit.
We don’t plan to change our $54 fair value estimate for the wide-moat company.
After taking Tesla out from under review as explained in our Oct. 19 note to upgrade its moat to narrow from none, our new fair value estimate is $319.
We consider shares fairly valued for the narrow-moat company.
We continue to view shares as undervalued for the wide-moat company.
We intend to edge up our $111 fair value estimate, but we don’t believe investors should rush to stock up on this wide-moat name.
Subscriber growth at Netflix in third quarter came in below our estimate and management’s forecast.