We think some estimates of the housing shortage are too severe.
Wide-moat Adobe reported strong second-quarter results, including upside to guidance for revenue and non-GAAP EPS, and provided a better-than-expected third-quarter outlook.
We think the proposed elimination of the 1031 exchange will have limited impact on U.S. REITs.
This decision adds certainty to related health insurance programs.
We expect to update the rate outlook in our banking models to incorporate rate hikes.
We've raised the firm's fair value estimate to $401 from $350 per share.
We're maintaining our $7 fair value estimate.
Given exceptional results and strong guidance, we are once again raising our estimates, which drives our fair value estimate to $245 per share from $223. We still view shares as overvalued.
We’re not changing our $97 fair value estimate.
The outperformance was likely a result of greater-than-expected demand for discretionary items and recovering warehouse traffic.
Revenue was strong, but margins were even stronger.
Shareholders support the narrow-moat company's proposal, however, Scope 3 emissions present a different challenge.
Despite the victory for Engine No. 1, we do not expect a wholesale change in strategy.
The court-ordered targets are well beyond Shell’s current plans of reducing carbon intensity by 20% in 2030 and moving to net zero by 2050.
It continues to execute well in expanding its data center business.
Our fair value estimate remains at $4,200 per share.
We are raising our fair value estimate for narrow-moat Cisco to $50 per share from $48, and view shares as fairly valued.
We're likely to increase the company's fair value estimate.
We suggest investors await a more attractive entry point.
We expect to raise our fair value estimate for the no-moat company.
We're increasing our fair value estimate after the firm's strong sales growth.
The firm raised an estimated $7.7 billion from its sales of shares.
We don’t expect to change the firm's $36 fair value estimate.
Revenue fell short of FactSet consensus but operating income came in well ahead of Street expectations.
It continued to benefit from the U.S. travel recovery and preference for more staycations.
We are raising our fair value estimate for the narrow-moat company.
The two have already been trading at what we view as unwarranted discounts compared with their peers.
We've raised our fair value estimate for BioNTech to $139 per share.
Following the news the Biden administration supports a proposed waiver on intellectual property protection for COVID-19 vaccines, we are not changing our FVEs to COVID-19 vaccine firms.
Moderna shipped 102 million doses of mRNA-1273 in the first quarter, and reported sales of the vaccine of $1.7 billion in the quarter tracked closely with our $1.9 billion forecast.
We have pulled forward our recovery expectations and make no change to our fair value estimate or our wide economic moat rating.
Uber's first-quarter top- and bottom-line results beat FactSet consensus estimates.
Demand for its ridehailing service continues to improve, indicated by a strong sequential increase in and steady monetization of riders.
We expect sales will fall substantially after 2022, limiting the impact on our valuation.
We think shares still look undervalued.
The company purchased AOL in 2015 and Yahoo in 2017 to build a media empire.
We plan to lower our tobacco valuations by mid-single-digit amounts.
The second virtual meeting lacked quality questions at the managers about the inner workings of Berkshire's businesses.
Berkshire Hathaway announced that Greg Abel would become the next CEO when Buffett departs the scene.
Revenue, which includes unrealized and realized gains/losses from Berkshire's investments and derivatives portfolios, increased significantly.
With strong cash flows and a healthy balance sheet, narrow-moat company announced a 4% dividend increase.
Our fair value estimate and moat rating remain.
We continue to view AbbVie as fairly valued with a good appreciation of new drugs partially offsetting the likely U.S. generic pressure to Humira.
We are again impressed by Amazon's earnings power as COVID-19 costs roll away.
The firm's U.S. market, boosted by stimulus spending and February's chicken sandwich launch, healthily exceeded 2019 levels on a two-year stacked basis.
We are maintaining our fair value estimate for the wide-moat firm.
We will maintain our fair value estimate and wide moat rating.
It expects the second quarter to have similar wholesale problems to a year ago, but this time due to the semiconductor shortage.
We continue to view the stock as undervalued.
We are raising our fair value estimate as we incorporate a stronger near-term outlook due to the current 5G iPhone cycle and ongoing work- and learning-from-home dynamics.