2024/6/17 投資ネタ

UG
#TOL upgraded to Neutral from Sell at Goldman Sachs at 124
-引き続き需給が良好
-新築が選好される中で、収益性などが他社対比良好
#BBY upgraded to Buy from Neutral at UBS at 106
-買替サイクル/新商品の恩恵
-ｺｽﾄｶｯﾄもﾚﾊﾞ拡大という形で寄与
#OLLI upgraded to Overweight from Neutral at JPMorgan at 105
-競争力が高くSSS加速余地有
-ｺﾛﾅ前よりﾌﾟﾚﾐｱﾑが低いが、SSSは高い
#NEM upgraded to Buy from Neutral at UBS at 50
-金価格は上昇余地有
-2-4bln程度資産売却によるBS縮小期待
#KDP upgraded to Hold from Sell at Truist at 34
-ｺｰﾋｰ事業に対する過度な期待が剥落
#CPRI upgraded to Buy from Neutral at Citi at 41
-買収ﾌﾟﾚﾐｱﾑ考えると割安
#GLW upgraded to Outperform from Equal Weight at Fox Advisors

DG
#UNP downgraded to Hold from Buy at Loop Capital at 238
-効率性/ﾎﾞﾘｭｰﾑ共に悪化が織込まれていない

earnings
#STLD stock falls after company issues profit warning - MW
-鉄鋼価格の下落
#X Guides Q2 EPS Below Consensus - SI
-鉄鋼のﾌﾟﾗｲｼﾝｸﾞ環境は厳しい
-鉄板需要は安定
#LEN Revenue Rises on Home Deliveries, New Orders Push
〇:2Q売上・EPS
×:3Qﾏｰｼﾞﾝg・受注・引渡し
-引渡し+15%/新規受注+19%
--販促が寄与
-平均販売価格-5% YoY

TP関連
#MU price target raised by several firms
-edge AIの恩恵
--edge AIに使用されるRAMも増加
-HBMでもｼｪｱ拡大
-DRAM/NANDもﾌﾟﾗｲｼﾝｸﾞ改善で堅調見込
#ARM price target raised to $180 from $150 at BofA
-v9ｱｰｷﾃｸﾁｬへのｼﾌﾄで売上増
-total compute solutionの採用増
-x86からｼｪｱ奪取
#TSM price target raised to $200 from $180 at Susquehanna
-ﾁｬﾈﾙﾁｪｯｸ:顧客層拡大/ﾌﾟﾛﾀﾞｸﾄ拡大(N3/N4/N5)
--ASPの上昇につながる
#C price target raised to $66 from $63 at RBC Capital
-ｲﾝﾍﾞｽﾀｰﾃﾞｰ期待
-ﾉﾝｺｱ事業売却/ｺｽﾄｶｯﾄによる収益性改善
-Services and Securities Servicesの恩恵
#EMN added to 'Tactical Outperform' list at Evercore ISI
-仏のcapex削減
-Q2のｶﾞｲﾀﾞﾝｽ悪化ﾘｽｸ小
#NKE price target raised to $116 from $114 at Morgan Stanley
-Q4ｲﾝﾗｲﾝ/ｶﾞｲﾀﾞﾝｽを小幅ﾋﾞｰﾄ見込
#ACN price target lowered to $320 from $379 at Piper Sandler
-ﾁｬﾈﾙﾁｪｯｸ:需要が弱いまま
#PKG price target raised to $200 from $197 at BofA
-需要の緩やかな改善が継続
#ORCL price target raised by several firms
-OCIの需要を考えるとｶﾞｲﾀﾞﾝｽが保守的
-投資で供給制約解消中
#MNST price target lowered to $57 from $63 at Stifel
-ﾁｬﾈﾙﾁｪｯｸ:北米での売上鈍化
-当面レンジ
--Q4から値上げの恩恵が出てくる
#CMA price target lowered to $58 from $62 at Jefferies
-2025のNIIはmix
--ﾛｰﾝの伸び/ｱｾｯﾄのﾘﾌﾟﾗｲｼﾝｸﾞ
vs
--direct debit authorizationの減少
(=無利子預金の減少)
#PANW sees FY25 revenue growth as likely to decelerate, says Citi
-FY25の売上成長率は減速

個別株
#TSM is reportedly planning to "RAISE PRICES" for 3nm manufacturing by 5% and CoWoS advanced packaging by 10%-20% starting next year, amid a capacity shortage expected to last through 2026.
#MU | Samsung Electronics plans to introduce advanced 3D chip packaging this year to meet HBM4 chip demand in 2025.
#MU | SK Hynix partner Mimir IP sues Micron for patent infringement
$MU | Micron to start HBM mass production at Taichung OMT in Taiwan in 2025.
#ADKS Starboard has $500M stake in Autodesk, pushing for changes, WSJ reports

マクロ・債券
(米国)
NY Fed Manufacturing -6.0, Exp. -11.3, Last -15.6
#SPY | Goldman Sachs has INCREASED its 2024 year-end target for the S&P 500 Index to "5,600" from 5,200, citing strong earnings growth by five mega-cap U.S. tech stocks and a higher fair value P/E ratio multiple.
#SPY | Evercore ISI’s Julian Emanuel lifts S&P 500 year-end target to a Street High of 6,000.
19.2% of homes for sale in May had a price cut, up from 13.2% a year earlier and just below record high of 21.7% in October 2022
⁦@Redfin
(欧州)
ECB’S LANE: THE GOAL IS TO HIT 2% IN THE MEDIUM-TERM
EURO ZONE Q1 WAGES +5.3% Y/Y VS REVISED +3.2% (PREVIOUS +3.1%) IN Q4 - EUROSTAT
(その他)
South Korea's semiconductor exports Jumped 52.5% YoY in May to $11.39 billion, driven by strong global demand for AI and IT devices. This marks the 7th straight month of double-digit gains.
CHINA'S MAY NEW HOME PRICES ARE DOWN 0.71% M/M(Prev. -0.58%), AND EXISTING HOME PRICES DROPPED 1% M/M(Prev. -0.94%), BOTH DROP FASTER THAN IN APRIL.
コモ