Key Points We’re updating our forecast for BWXT post the firm’s 4Q24 earnings report earlier this week. We reiterate our Overweight rating on the shares as we continue to see strong...
Key Points Q4’24 EBITDA and EPS miss; FY2025 guidance range mid-point in line with consensus Sequentially higher EBITDA margins in PM segment but lower in S&S segment. Healthy y-o-y PM segment volume...
Key Points We’re updating our forecast for LMT for the first time post 4Q and we’re lowering our target price by USD66 to USD503. We’ve lowered our terminal multiple by three...
Key Points Q4'24 EPS and EBITDA miss on price declines Management's near-term commentary mixed We rate WLK shares Overweight; our 12-month Target Price is USD185 Summary Westlake Corporation announced Q4’24 earnings this morning: Reported recurring...
Key Points Risk/return still not that attractive. Medium-term debt payments could present an issue AC segment may witness margin compression in 2025 resulting in earnings headwinds – something not fully appreciated by...
Key Points Risk/return still not that attractive. Medium-term debt payments could present an issue AC segment may witness margin compression in 2025 resulting in earnings headwinds – something not fully appreciated by...
Key Points Above-consensus Q4’24 EBITDA and EPS. Q1 and Q2 guidance significantly below consensus on continued demand weakness USD1.3bn in Q1’25 maturing bonds to be retired using delayed draw term loan, cash...
Key Points We’re raising our target price on shares of HWM by USD22 to USD154 and reiterating our Overweight rating post the firm’s 4Q earnings report last week. We’ve increased our outlook...