31 January, several securities that have sagged since the beginning of the year rose by more than 10% after the revision of investment banks' estimates. Here are the experts' arguments.
Tesla (TSLA) — 936,7 $ per share (+10,7%)
Credit Suisse upgrades Tesla stock to outperform from neutral. The bank said: The current pullback is a good opportunity to buy stocks, which should recover in the coming months. Credit Suisse's goal is 1025 $ per share.
26 January, the company reported better than expected and reported record revenue and profit. За четвертый квартал Tesla продала 309 тысяч авто. It's on 71% more, than a year ago. Also increased margins: валовая — с 19,2 to 27,4%, operating room with 5,4 to 14,7%.
“Tesla unexpectedly increased margins, largely due to cost reduction. And we believe, that this margin is quite stable”, - added Credit Suisse.
In its report, Tesla also said, that sales were negatively affected by the shortage of microcircuits: “Due to supply disruptions, our factories have been operating at less than full capacity for several quarters.. apparently, in 2022 году ситуация останется прежней». The auto company has postponed the release of new car models, including pickup Cybertruck, как минимум до 2023 of the year.
Even after recent gains, auto companies are worth about 20% cheaper, than at the beginning of the year. In anticipation of tightening monetary policy FED investors began to get rid of the shares of expensive companies, and Tesla's capitalization for January fell from 1,2 to 0,9 trillion dollars.
Netflix (NFLX) — 427,1 $ (+11,1%)
Citi upgrades Netflix stock to Buy from Neutral, because "the fall has gone too far".
According to the bank, the company has the opportunity to painlessly increase the price of a subscription, а стоимость акций не отражает перспективу роста числа подписчиков после 2023 of the year. Despite the upgrade, эксперты снизили цель по акциям с 595 to 450 $.
Increasing the number of paid subscribers and the cost of a subscription are the main drivers of Netflix revenue growth. В последнем квартале 2021 года количество подписчиков выросло на 9%, average subscription price 7%, revenue — on 16% compared to 2020 year.
The result was better than expected, but the company made a weak forecast for the current quarter. According to Netflix, на сервис подпишутся всего 2,5 million people, хотя аналитики рассчитывали почти на 7 million users. One of the reasons for the slow growth is the high competition in the industry., Netflix said.
With recent gains, Netflix shares are worth about 30% cheaper, than at the beginning of the year.
Beyond Meat (BYND) — 65,1 $ (+15,2%)
Barclays immediately increased the rating of Beyond Meat by two notches, from “worse than the market” to “better than the market”, and the stock target is from 70 to 80 $. The bank expects, that working with catering chains can give a company a competitive advantage: "We believe, that growth potential in the food service industry is not priced into Beyond Meat's stock.".
Partnership with McDonald's and other networks will allow the company to grow steadily in the coming years, especially in the international market, said the bank.
По данным на третий квартал 2021 of the year, sales in grocery stores and catering are approximately 70 And 30% of Beyond Meat's total revenue. According to Barclays, ratio may change in the future: "We acknowledge, which can take more than two years, before revenues from foodservice and retail chains begin to 50% from proceeds, but this trend seems to us obvious”.
Beyond Meat itself gives a restrained short-term forecast. В третьем квартале 2021 года ее убыток вырос почти втрое, to 55 million dollars, due to additional costs. For example, for transportation and storage of raw materials. As predicted by Beyond Meat, in the fourth quarter, sales will be about 85-110 million dollars. Это сильно меньше ожиданий аналитиков в 132 million.
Shares of Beyond Meat are now trading at about the same level., что и в начале 2022 of the year.