JPM Re-Positions, Downgrades Diebold Nixdorf, Plexus Corp and Cognex Corporation By Investing.com | The Markets Café
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
Wednesday, March 22, 2023
No Result
View All Result
Subscribe
  • Login
The Markets Café
en English
zh-CN 简体中文en Englishfr Françaisde Deutschhi हिन्दीit Italianoja 日本語pt Portuguêsru Русскийes Españoltr Türkçe
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • VideosHOT
  • Community
  • Charts
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • VideosHOT
  • Community
  • Charts
No Result
View All Result
The Markets Café
No Result
View All Result
  • News
  • Politics
  • Markets
  • Crypto
  • Economy
  • Finance
  • Forex
  • Investing
  • Tech
  • Videos
  • Community
Home Markets Stocks

JPM Re-Positions, Downgrades Diebold Nixdorf, Plexus Corp and Cognex Corporation By Investing.com

by Press Room
August 16, 2022
in Stocks
98 5
A A
0
21
SHARES
687
VIEWS
FacebookTwitter
© Reuters. JPM Re-Positions, Downgrades Diebold Nixdorf, Plexus Corp and Cognex Corporation

By Sam Boughedda

Investing.com – Diebold Nixdorf (NYSE:), Plexus Corp (NASDAQ:), and Cognex Corp (NASDAQ:) were downgraded to Underweight by a JPMorgan analyst in a research note on Monday.

The analyst downgraded the stocks as they position following second-quarter earnings prints, saying the season has seen more misses and guidance cuts than usual, driven by logistics headwinds and FX. However, they are more concerned with inventory pauses at key customers and cracks in demand trends.

The analyst added that themes such as supply chain headwinds easing, EMS players benefiting from component inflation, consumer technologies pricing in the worst, and high-end consumers remaining relatively resilient have emerged.

On Diebold Nixdorf, the analyst said Q2 earnings came in better than feared though “somewhat low quality” given the elevated restructuring charges taken in the quarter. “Management kept EBITDA and FCF guidance unchanged despite lowered revenue guidance on material FX headwinds. We see elevated risks to hitting guidance, in another heavily back end loaded year. Valuation levels are also at a premium to NCR (NYSE:), despite lower operating profit margins, more complex capital structure issues and limited FCF.”

Meanwhile, JPMorgan (NYSE:) downgraded Cognex following a Q2 print that was “very difficult” on softening demand in Logistics. “Customer concentration risk remains elevated at Amazon (NASDAQ:) and Apple (NASDAQ:), and given pause in logistics spending at Amazon, which drove $300mm in revenues FY21 ~up 65% y/y, we sense we may see multiple years of digestion. Consensus estimates seem a bit high for F4Q22 in our view as aforementioned issues may linger, and given limited guidance provided longer term for this mostly book and ship business, there remains a wide dispersion in estimates in our view,” said the analyst.

Finally, on Plexus, the analyst said it is a “relative call” given that valuation levels have climbed. “We think the fundamentals are great, with PLXS seeing similar tailwinds to the business that FLEX and JBL are enjoying (Component inflation uplift, demand trends for on shoring outsourcing etc.) We look to cash and note that FCF is expected to be down $100mm for FY22 given elevated working cap/capex investments, and we sense a couple more quarters before normalization. FLEX and JBL are generating solid FCF and trading in high single digits FCF yields.”

 

Read the full article here

Related Articles

Stocks

After-hours movers: Harmonic gains on Charter deal, First Majestic Silver falls on temporary suspension of activities By Investing.com

March 22, 2023
Stocks

Deluxe has been unfairly tarred with ‘banking crisis’ brush, TD Cowen maintains Outperform By Investing.com

March 22, 2023
Stocks

Exclusive-Thermo Fisher, Celltrion vie for Baxter’s biopharma unit -sources By Reuters

March 22, 2023
Stocks

U.S. states urge Hyundai, Kia to do more to tackle theft risk By Reuters

March 22, 2023
Stocks

Credit Suisse rescue eases crisis fears, First Republic shares dive By Reuters

March 21, 2023
Stocks

Bank of America halts trading with Credit Suisse electronic stocks desk -email By Reuters

March 21, 2023

About Us

The Markets Café

The Markets Cafe is your one stope Finance, Politics and bussines news website, follow us to get the latest news and updates from around the world.

Sections

  • Commodities
  • Crypto Markets
  • Crypto News
  • DeFi
  • Economy
  • Explained
  • Finance
  • Forex
  • Futures
  • Investing
  • Markets
  • News
  • NFT
  • Politics
  • Real Estate
  • Stocks
  • Tech
  • Videos

Site Links

  • Contact
  • Advertise
  • DMCA
  • Submit Article
  • Forum
  • Site info
  • Newsletter

Newsletter

THE MOST IMPORTANT FINANCE NEWS AND EVENTS OF THE DAY

Subscribe to our mailing list to receives daily updates direct to your inbox!

  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

© 2022 The Markets Café - All rights reserved.

No Result
View All Result
  • News
  • Politics
  • Markets
    • Stocks
    • Futures
    • Commodities
  • Crypto
    • News
    • Markets
    • NFT
    • DeFi
    • Explained
  • Economy
  • Finance
  • Investing
  • Forex
  • Real Estate
  • Tech
  • Videos
  • Community
  • Charts

© 2022 The Markets Café - All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.