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On Tuesday, Wells Fargo’s fairness analysis group outlined its Q1 tactical excessive conviction commerce concepts which included 11 totally different shares throughout 10 industries. See the under concepts that Wells Fargo put collectively.
Ironwood Prescription drugs (IRWD): Worth goal of $20, which equates to a 75% upside transfer. “OW supported by NT collaboration revs from Linzess, pushed by upside from probably constructive Apra pivotal knowledge in Mar. ’24.”
Flywire Company (FLYW): Worth goal of $33, which equates to a 42% upside transfer. “A uncommon messy Q on the again of a secondary has created a dislocation. We see a a number of rerating as issues ease.”
CrowdStrike Holdings, Inc. (NASDAQ:CRWD): Worth goal of $315, which equates to a 23% upside transfer. “CrowdStrike is well-positioned to outperform in FQ424 (Jan) off a string of three simple comps, setting the stage for the rest of 2024.”
DoubleVerify Holdings, Inc. (DV): Worth goal of $44, which equates to a 20% upside transfer. “We see catalysts forward such because the deployment of Fb’s Reside Feed verification answer (beta launch finish of 4Q23) and elevated model security scrutiny forward of 2024 U.S. elections.”
Integral Advert Science Holding Corp. (IAS): Worth goal of $27, which equates to a 87% upside transfer. “Much like DV, we see catalysts forward such because the deployment of Fb’s Reside Feed verification answer (beta launch finish of 4Q23) and elevated model security scrutiny forward of 2024 U.S. elections.”
PBF Vitality, Inc. (NYSE:PBF): Worth goal of $63, which equates to a 43% upside transfer. “Our outlook for better-than-midcycle crack spreads helps increased share repos and alleviates near-term strain of any renewable diesel startup headwinds.”
Johnson Controls Worldwide plc (JCI): Worth goal of $65, which equates to a 13% upside transfer. “The transfer from F1Q to F2Q ought to mark the tip of destock headwinds and an necessary step-up in run-rate earnings energy. This may drive a narrowing of the valuation low cost vs our EEMI group, which widened from MSD in Jan ’23 to twenty-eight% presently on 2024 P/E.”
United Parcel Service, Inc. (NYSE:UPS): Worth goal of $175, which equates to a 11% upside transfer. “We count on UPS’s investments in its community (e.g. consolidation & modernization) to allow it to rationalize prices to unlock latent margin enlargement.”
Equifax, Inc. (EFX): Worth goal of $290, which equates to a 17% upside transfer. “We see EFX as finest positioned to profit from a nascent restoration within the mortgage market. Additionally, non-mortgage & int’l companies have been higher than feared.”
Ryman Hospitality Properties (RHP): Worth goal of $125, which equates to a 13% upside transfer. “Properties, Inc. (RHP): We see RHP benefiting most from group income progress outpacing transient income progress in ’24.”
Toll Brothers, Inc. (NYSE:TOL): Worth goal of $120, which equates to a 17% upside transfer. “We see TOL as a relative outperformer given: (1) Preliminary FY24 unit information (+MSD%) might show conservative (pot’l for some upside revisions); and (2) Pricing energy stays an underappreciated constructive.”