Many people in New York and New Jersey are expected to head to beaches Saturday to celebrate the July 4th holiday. But, concerns over the coronavirus remain and social distancing rules will be in effect. CBS2's Christina Fan reports.
Many people in New York and New Jersey are expected to head to beaches Saturday to celebrate the July 4th holiday. But, concerns over the coronavirus remain and social distancing rules will be in effect. CBS2's Christina Fan reports.
The greedy are, at last, getting blown out, and the prudent being vindicated. I see three buckets of stocks that intrigue me now.
In the investing game, it’s not only about what you buy; it’s about when you buy it. One of the most common pieces of advice thrown around the Street, “buy low” is touted as a tried-and-true tactic.Sure, the strategy seems simple. Stock prices naturally fluctuate on the basis of several factors like earnings results and the macro environment, amongst others, with investors trying to time the market and determine when stocks have hit a bottom. In practice, however, executing on this strategy is no easy task.On top of this, given the volatility that has ruled the markets over the last few weeks, how are investors supposed to gauge when a name is flirting with a bottom? That’s where the Wall Street pros come in.These expert stock pickers have identified three compelling tickers whose current share prices land close to their 52-week lows. Noting that each is set to take back off on an upward trajectory, the analysts see an attractive entry point. Using TipRanks’ database, we found out that the analyst consensus has rated all three a Strong Buy, with major upside potential also on tap.Progenity (PROG)Offering clear and actionable genetic results, Progenity specializes in providing testing services. The company started trading on Nasdaq in June and saw its shares tumbling 44% since then. With shares changing hands for $8.11, several members of the Street recommend pulling the trigger before it heats up.Piper Sandler analyst Steven Mah points out that even against the backdrop of COVID-19, PROG managed to deliver with its Q2 2020 performance. “We are encouraged by the recovery in late Q2 2020 with 75,000 accessioned tests (~79,000 in Q1 2020), driven by noninvasive prenatal testing (NIPT) and carrier screening,” the analyst noted. Expounding on this, Mah stated, “Progenity did not provide guidance, but June test volumes of ~28,000 were strong (Q1 2020 monthly average was ~26,000) which we believe showcases the durability of its reproductive tests and the success that Progenity has in co-marketing and attaching carrier screening to the more essential NIPT. Of note, despite the pandemic disruptions, Progenity was able to maintain its leading pre-COVID test turnaround times.”Additionally, health insurer Aetna is temporarily extending coverage of average-risk NIPT until year-end as a result of the pandemic, with the American College of Obstetricians and Gynecologists (ACOG) also expected to endorse average-risk in the future given its clinical utility, in Mah’s opinion.Reflecting another positive, the fourth generation NIPT (single-molecule counting assay) test was able to measure fetal fraction, a key milestone according to Mah, and will continue to be developed into 2021. As the technology could potentially be applied to DNA, RNA, epigenetic markers and proteins for additional clinical applications such as oncology, the analyst is looking forward to the completion of the preeclampsia verification in Q4 2020 and a possible 2H21 launch. “We believe preeclampsia (~2.3 billion serviceable market) is a major differentiator for Progenity, allowing them to cross-sell across the full-continuum of reproductive testing,” the analyst added.If that wasn’t enough, PROG signed its first GI Precision Medicine partnership agreement with a top-20 Pharma company in August. The Oral Biotherapeutic Delivery System (OBDS), an ingestible drug and device combination designed to precisely deliver biologics systemically through a needle-free liquid jet injection into the submucosal tissues of the small intestine, is set to be utilized as part of the collaboration. Mah commented, “We believe Progenity can sign additional Pharma deals and look forward to the newsflow coming out on this front.”To sum it all up, Mah said, “We believe Progenity shares are undervalued given the robust recovery in the core testing business and multiple upcoming growth catalysts.”To this end, Mah rates PROG an Overweight (i.e. Buy) along with a $17 price target. Should his thesis play out, a twelve-month gain of 105% could potentially be in the cards. (To watch Mah’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 4, in fact, have been issued in the last three months. Therefore, the message is clear: PROG is a Strong Buy. Given the $13.33 average price target, shares could climb 60% higher in the next year. (See PROG stock analysis on TipRanks)Tactile Systems Technology (TCMD)Developing at-home therapy devices, Tactile Systems Technology wants to provide new treatments for lymphedema, which occurs when the lymphatic system is impaired, disrupting normal transport of fluid within the body, and chronic venous insufficiency. Down 52% year-to-date, its $32.67 share price lands close to its $29.47 52-week low. Thus, with business trends improving, the Street is pounding the table.Writing for Canaccord, analyst Cecilia Furlong acknowledges that the pandemic has hampered the company, with COVID-19 weighing on both volumes and sales. In the second half of March, volumes were down 50% compared to the first half of the month, and TCMD’s patient volumes in April and May remained challenged. That being said, trends started to improve at the end of May.“Going forward, given the vast majority of TCMD’s clinician customers practice in outpatient or office-based settings, we remain positive on TCMD’s ability to demonstrate better insulation against COVID impacts and likely experience a greater bounce-back relative to overall med-tech volume trends, with TCMD further benefitting from its expanding using of technology to remotely engage with clinicians and support patients,” Furlong explained.The analyst added, “Furthermore, recent trends among some providers to prescribe Flexitouch (an advanced intermittent pneumatic compression device to self-manage lymphedema and nonhealing venous leg ulcers) earlier along the therapy process, as a means to reduce in-person contact, could provide upside near term, as well as potentially transition to a longer-term tailwind.”On top of this, Furlong is also optimistic about new CEO Dan Reuvers and the reprioritization of the company’s investment and market development efforts. TCMD will shift focus away from its acquired Airwear product line, with it redirecting investments toward its Flexitouch and Entre (a pneumatic compression device used to assist in the home management of chronic swelling and venous ulcers associated with lymphedema and chronic venous insufficiency) products.“Given significant under-penetration in the lymphedema/phlebolymphedema market targeted by Flexitouch alongside the large patient population with limited treatment options today targeted by the firm’s Head & Neck platform, we view the combination of education and clinical data as key to further developing and penetrating these markets... Going forward, we expect management to continue to compile a broad base of clinical data to support reimbursement and drive broad adoption,” Furlong commented.All of this prompted Furlong to keep a Buy rating and $62 price target on the stock. This target conveys her confidence in TCMD’s ability to soar 90% in the next year. (To watch Furlong’s track record, click here)In general, other analysts are on the same page. With 3 Buy ratings and 1 Hold, the word on the Street is that TCMD is a Strong Buy. The $62.33 average price target brings the upside potential to 91%. (See TCMD stock analysis on TipRanks)uniQure N.V. (QURE)Last but not least we have uniQure, which delivers curative gene therapies that could potentially transform the lives of patients. Even though shares have fallen 44% year-to-date to $40, not much higher than its 52-week low of $36.20, multiple analysts still have high hopes.Representing SVB Leerink, 5-star analyst Joseph Schwartz acknowledges that shares struggled after news broke of its collaboration and licensing agreement with CSL Behring for AMT-061, QURE’s gene therapy for Hemophilia B, he argues the “shareholder base turnover is likely now complete as investors and QURE shift focus to next-in-line AMT-130, its AAV5 gene therapy for Huntington’s Disease (HD).”Schwartz further added, “With the M&A premium now out of the stock, we see the QURE’s current level as an attractive buying opportunity for those investors interested in the company’s up and coming CNS gene therapies, internal manufacturing, and robust intellectual property and knowhow.”Looking more closely at the agreement with CSL Behring, QURE will be tasked with the completion of the pivotal Phase 3 HOPE-B trial as well as the manufacturing process validation and manufacturing supply of AMT-061.According to management, 26-week Factor IX (FIX) data from all 54 patients enrolled in the trial remains on track, and topline data from the pivotal trial is still slated to read out by YE20. It should be mentioned that in a Phase 2b dose-confirmation study, QURE reported 41% FIX activity out to one year. Additionally, Schwartz points out that with HOPE-B progressing as planned, QURE has continued its manufacturing process validation work ahead of the anticipated BLA/MAA submissions in the U.S. and EU in 2021.On top of this, as part of the deal, QURE is eligible to receive more than $2 billion including a $450 million upfront cash payment, $1.6 billion in regulatory and commercial milestones and double-digit royalties ranging up to the low-twenties percentage of net product sales.“With a strengthened cash position, QURE is well funded to rapidly advance CNS assets including AMT-130 (AAV5 gene therapy for Huntington’s Disease (HD)) and AMT-150 (AAV gene therapy for Spinocerebellar Ataxia Type 3/SCA3)...We continue to believe that as QURE’s CNS pipeline assets mature, the company could once again be an attractive partner to larger biopharma companies that have recently acquired many publicly traded gene therapy platforms with substantial manufacturing capabilities,” Schwartz noted.Everything that QURE has going for it convinced Schwartz to reiterate an Outperform (i.e. Buy) rating. Along with the call, he attached a $67 price target, suggesting 68% upside potential from current levels. (To watch Schwartz’s track record, click here)What does the rest of the Street have to say? 9 Buys and 3 Holds have been issued in the last three months, so the consensus rating is a Strong Buy. In addition, the $69.89 average price target indicates 75% upside potential. (See QURE stock analysis on TipRanks)To find good ideas for beaten-down stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Here's really why stocks are losing a ton of steam right now.
A $4.3 billion battery-making company backed by Bill Gates could rival Tesla.
An analyst at UBS cautions that while Apple shares typically outperform ahead of an iPhone launch, they have generally underperformed the market after a launch.
Gold is breaking lower from the triangle pattern as forecasted. Expect a 1 to 2-week decline into the next 6-month low. A rally to $2300+ is possible from that bottom into late December – depending on the November elections (or lack thereof).
One of the simplest ways to ensure you're investing in stable companies is to pick large-cap stocks that dominate their markets. Here are nine large-cap dividend stocks to buy that offer generous -- and more importantly, sustainable -- dividends. Pfizer is in many ways the poster child for large stocks with scale, stable income and staying power.
Tesla's lead in electric vehicle technologies has other automakers making desperate moves to catch up.
(Bloomberg) -- Gold’s slump this week is forcing investors to ask whether the haven asset is taking a breather or facing an even sharper decline.Unprecedented global stimulus, negative real rates and a weakening dollar pushed bullion to a record high above $2,075 an ounce in early August. While some banks, including Goldman Sachs Group Inc. and Bank of America Corp., forecast even higher prices, a resurgent dollar has seen gold give up some of its gains.Is this merely a temporary setback for the precious metal? Here are five charts that provide hints as to where gold goes next:Dollar DominanceThe key driver of gold right now is the dollar. This week the U.S. currency strengthened, even as the Federal Reserve remained ultra dovish on interest rates. The dollar’s newfound vigor is linked to fading hopes of more stimulus from the U.S. That’s depressed gold, even as Covid-19 infections spike across Europe and fatalities exceed 200,000 in the U.S.“The firm U.S. dollar is like a millstone around the neck of precious metals prices, and is putting pressure on gold despite increased risk aversion,” Carsten Fritsch, an analyst at Commerzbank AG, wrote in a note. Still, Fed policy will remain expansionary for years, so “the strength of the dollar is hardly likely to last,” he said.Plateauing RatesGold’s investment appeal over the summer was burnished as real treasury rates slid deeper into negative territory. Since early August, those rates have been flat, and it will take a significant boost to inflation expectations to drive them lower.Breakevens -- measures that draw on pricing of nominal and inflation-linked Treasury debt to create a proxy for price gains -- have been declining since August. With the global economic recovery stuttering as the virus flares, inflation is unlikely to be uppermost in the minds of investors, according to Ole Hansen, head of commodity strategy at Saxo Bank A/S.Key MilestonesGold’s decline this week gathered momentum after it slipped below its 50-day moving average, which technical traders can take as a signal to sell. The metal’s next key threshold -- the 100-day moving average -- should provide some resistance to falling prices. However, a drop below that level could trigger further selling. Spot gold traded 0.6% lower at $1,852 an ounce on Thursday, set for the lowest close since July.ETF WatchersInvestors’ favorite way of buying gold this year has been through exchange-traded funds, which have added 862 tons of bullion. After gold slipped on Monday, ETFs saw their largest inflows in at least a year as investors bought the dip. However, the next day’s price decline didn’t spark the same appetite, with some selling, according to data compiled by Bloomberg. The global total eased again on Wednesday.“ETFs increased in recent days and now they pause to see what will happen,” said Georgette Boele, a precious metals strategist at ABN Amro Bank NV. “If weakness continues, they will sell quickly again.”Volatile ElectionOver the past 20 years, gold has tended to move both in the lead up to and aftermath of U.S. presidential elections as investors weigh the potential impact on the dollar, treasury yields and global political risk. November’s election will potentially be the most fraught in decades, fomenting uncertainty that gold will surely enjoy.(Updates price in eighth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Restaurant bankruptcies are starting to pile up.
Talks between electric-truck maker Nikola and several potential partners to build hydrogen-refueling stations have stalled, according to the WSJ.
(Bloomberg) -- The hunt for renewable energy stocks sent one obscure firm soaring more than 4,000% in a single day, albeit with a tiny amount of shares on the market.SPI Energy Co., which was trading around a buck Tuesday, rocketed as high as about $47 per share after launching a unit to design and develop electric vehicles and charging solutions Wednesday. The new unit was dubbed EdisonFuture, seemingly inspired by Thomas Edison and his rivalry with the scientist whose name has been invoked by two companies in the electric vehicle sector, Nikola Corp. and Tesla Inc. By the close of trading Wednesday, SPI stock gained 1,237% to $14 a share and triggered at least seven volatility trading halts over four hours. Trading volume Wednesday topped 340 million shares, more than 700 times its usual activity. The company has about 14.8 million shares outstanding, along with a float of about 7.4 million, according to data compiled by Bloomberg. “With the addition of EV and EV charging segments to our diverse solar business, we are positioning SPI Energy for the future of renewable energy,” Xiaofeng Peng, the company’s chief executive offer said in a statement Wednesday.EVs have garnered extra attention after Nikola Corp.’s founder recently stepped down amid allegations of misleading investors.SPI’s operating headquarters are in Santa Clara, California, with operations in Asia, Europe, North America and Australia.(Updates closing share price.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Nvidia edged into a buy zone in powerful trade this week, riding strong earnings and a bold move to seize smartphone and data center market share.
XL Fleet management has a niche, commercial vehicle strategy for penetrating market with its EV powertrains.
Taiwan President Tsai Ing-wen promised on Thursday to help the island's key semiconductor industry overcome difficulties and consolidate its leading position, offering support to a sector increasingly caught up in China-U.S. trade tensions. Companies such as the world's biggest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd, are major suppliers to the likes of Apple Inc and Qualcomm Inc, as well as Chinese firms like Huawei Technologies Co Ltd. In July, TSMC said it had stopped taking new orders from Huawei in May and did not plan to ship wafers after Sept. 15, responding to U.S. curbs on supplying the Chinese company, which the Trump administration views as a security threat.
(Bloomberg) -- HSBC Holdings Plc’s tumbling stock price is testing the patience of even the bank’s most loyal investors.Choi Chen Po-sum, a former vice chair of Hong Kong’s exchange who has owned HSBC shares for more than 40 years, now calls her investment a mistake. Simon Yuen, a money manager who has lobbied unsuccessfully for the bank to reinstate its dividend, says the stock’s slump to a 25-year low may have further to go. Ping An Insurance Group Co., HSBC’s biggest shareholder, has passed on opportunities to express confidence in the bank, saying only that its holding is a “long-term financial investment.”The responses underscore the depth of investor malaise toward HSBC, which has tumbled faster than every other major financial stock globally over the past six months. Even historically upbeat sell-side analysts have mostly turned bearish on the bank amid growing concerns about loan losses and its ability to navigate mounting tensions between the U.S. and China.“I’ve lost faith,” said Choi, 89, who’s chair of National Resources Securities Ltd. in Hong Kong, where scores of individual investors have long considered HSBC to be a core holding. “You want the shares to recover? Don’t even think about it.”HSBC’s Hong Kong shares lost as much as 2.6% as of 11:15 a.m. on Thursday. The stock has tumbled more than 9% so far this week, bringing the year’s decline to 54% and making it the worst performer in the benchmark Hang Seng Index. In London, the shares have fallen about 51%. After losing $83 billion of market value this year, HSBC is now smaller than Commonwealth Bank of Australia and trailing far behind major rivals such as Citigroup Inc.Analysts have never been so downbeat on HSBC, with only 16.7% of 30 who follow the stock having a buy recommendation whereas just two years ago the ratio was 47%. Even after its slump, the bank is valued at 16.3 times forecast earnings for 2020, a pricier level than some peers. Both Citigroup and smaller rival Standard Chartered Plc trade at multiples of about 13.Ping An, which has owned a major stake in HSBC since late 2017, has seen the value of those shares tumble by at least $8.6 billion over the past three years, according to data compiled by Bloomberg.The depth of HSBC’s slump “means even long-term investors are starting to lose confidence in the stock, which is certainly a bad sign,” said Benny Lee, a director at Plotio Financial Group Ltd.HSBC declined to comment on its share performance.The growing disillusion in Hong Kong with the bank’s prospects comes after it earlier this year was among banks forced by U.K. regulators to scrap its dividend, causing an uproar with the city’s broad base of retail investors. It has also rankled China over its participation in the American investigation of Huawei Technologies Co.Concerns are mounting that the bank’s expansion in China will be derailed after the ruling Communist Party’s Global Times newspaper reported over the weekend that HSBC could be named an “unreliable entity.” Penalties for companies that appear on the list include restrictions on trade, investments and visas. HSBC has declined to comment on the article.“Should it be on the list, even without tough measures taken, its mainland China business would likely be adversely impacted as its clients reduce transactions,” Citigroup analysts led by Yafei Tian wrote in a note on Tuesday. “Mainland China clients in HK might also avoid unnecessary transactions with HSBC HK. In a worst case scenario, HSBC might be forced to divest its investments in mainland China.”Read more: How Blacklisting ‘Entities’ Became a Trade War Weapon: QuickTakeHSBC Chief Executive Officer Noel Quinn last month warned about tough times ahead while reporting that first-half profit halved and predicting loan losses could swell to $13 billion this year. Quinn said the bank would attempt to hasten a shakeup of its global operations, accelerating a further pivot into Asia as its European operations lose money.Some investors aren’t convinced it’s enough.In Hong Kong’s derivatives market, the second-most traded HSBC stock option on Thursday was a bearish contract betting the shares will drop to HK$18.50 by the end of December. That implies a downside of more than 30% from HSBC’s current levels. The most traded option was a bullish call that expires next week at HK$30, with the contract losing three-quarters of its value.“The share price will hardly recover in the near term and there’s still room for a further decline,” said Yuen, founder of Surich Asset Management. “Hong Kong investors’ love for HSBC is still there, but it’s indeed heartbreaking. The times have changed.”(Updates with HSBC options trading in the penultimate paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Aggressive investors who know how to balance risk and reward are likely to be the biggest winners as oil prices rebound from record lows
"It's hard to think of the possibility of saving too much, but diligent savers and investors are sometimes able to reach their savings goals prior to their actual retirement date," says Kali Hassinger, a certified financial planner at the Center for Financial Planning, Inc. in Southfield, Michigan. After reaching their goals, super savers may go above and beyond the amount needed to carry out their lifestyle as retirees. "There are rules of thumb about how much of your income you should save, but there is no one-size-fits-all savings total or threshold," Hassinger says.
Since peaking in early September, the main indexes have lost between 5% and 10% in the last three weeks, in a series of roller coaster trading sessions. It’s a situation made for confusion, forcing investors to wonder if the summer’s bull run is over, or if this is just a correction before the good times start again.Investment banking giant Morgan Stanley has been scouring the markets, doing the intensive research that this month’s volatility suggests is necessary. And the bank’s analysts have found the stocks that investors should and should not buy into. Their recommendations work to make sense of a turbulent time in the markets.With this in mind, we’ve delved into two stocks that the firm predicts will show powerful double-digit growth. And for contrast, we’ve included one that Morgan Stanley says to avoid. Using TipRanks’ Stock Comparison tool, we were able to evaluate these 3 stocks alongside each other to get a sense of what the analyst community has to say.Aptiv PLC (APTV)First on the list is Aptiv, the modern incarnation of long-time auto-parts supplier Delphi. The company spun off the powertrain segment three years ago, changed its name to Aptiv, and has focused on the intersection of high-tech and the automotive sector. The company’s projects include advanced software, networking, and computing platforms to improve the safety, efficiency, and environmental soundness of modern vehicles.Business shutdowns, travel restrictions, supply disruptions, social lockdowns – all these wrought havoc on Aptiv’s 1H20 business. The company saw revenues slip and EPS turn negative in Q2. But, Aptiv inhabits a generally positive niche – cleaner cars, with an emphasis on reduced CO2 emissions and electric power, along with networked vehicles, are widely considered the wave of the future – and has been able to leverage that to weather the COVID pandemic storm. Looking forward, the company expects to see Q3 earnings return to positive numbers.Analyst Adam Jonas wrote the review of this stock for Morgan Stanley, and he sees a bright future for Aptiv.“Coming out of the COVID era, we believe Aptiv’s portfolio is on the verge of a transformation that will alter the stock’s narrative, driving a multiple re-rating. Aptiv has three underappreciated top-line compounding business units,” Jonas opined. The analyst goes on to note that Active Safety, Mobility & Services, and Power & Signal Battery-powered Electric Vehicles are all on the cutting edge of the automotive world, and the growth technologies in the sector. Aptiv has a leading position in all three."Post COVID-19, OEMs are accelerating electrification and autonomy. Aptiv has a leading (and potentially dominating) position in electric vehicle architecture and active safety with a path to recurring software revenue," the analyst concluded. In line with this outlook, Jonas describes APTV as his ‘Top Pick,’ and sets a $150 price target indicating confidence in a robust 77% one-year upside for the stock. He rates APTV as Overweight (i.e. Buy) (To watch Jonas’ track record, click here)The Street agrees that APTV is a buying proposition, and the analyst consensus rating here is a Strong Buy. That rating is a based on 8 reviews, including 6 Buys and 2 Holds. The stock is currently selling for $84.51, and the average price target, at $100, suggests it has an 18% upside potential. (See APTV stock analysis on TipRanks)Match Group (MTCH)Next on the list is Match Group, a Texas-based internet company in the online dating realm. Match Group owns and operates numerous online dating sites, including big names like Tinder and OkCupid, as well as smaller names like Hinge and Ship. The sites have a global reach, with 9.3 million subscribers; of that number, more than 4.5 million are in North America.So far, 2020 has been good for Match Group; EPS for the second quarter hit 51 cents, beating the forecast by 4%, and the company’s shares are up 50%.Morgan Stanley’s Lauren Cassel sees plenty of potential in Match Group – especially in the company’s smaller brand, Hinge. “We believe the Street underappreciates MTCH’s emerging brands, and our deep dive quantifies the increasingly large opportunity, particularly for Hinge. [...] Hinge is MTCH’s next major revenue and earnings growth driver, growing from less the 500k subscribers today to more than 8M estimated subscribers over the next decade," Cassel noted. "MTCH has successfully grown each brand to be a dominate player within its respective space over the past three years, and we believe [the company's] apps have significant monetization opportunities going forward."Based on that long-term outlook, Cassel rates MTCH an Overweight (i.e. Buy) along with a $151 price target. This figure suggests a 43% upside from current levels. (To watch Cassel’s track record, click here)Overall, Match Group gets a Moderate Buy rating from the analyst consensus, with 8 Buys and 6 Holds set in the past month. The stock is selling for $105.2, and the average price target, now at $119.71, implies a one-year upside potential of ~14%. (See MTCH stock analysis on TipRanks)MGE Energy (MGEE)On the surface, the last stock on our list would seem to be a good buy. MGE Energy is a utility holding company based in Madison, Wisconsin. The company’s main subsidiary is Madison Gas and Electric, which provides both electric and natural gas utilities throughout much of Wisconsin. Gas is an important sector in this Midwestern state, where winters can be harsh and affordable heating is necessity.MGE’s revenues and earnings have slipped in 1H20, as part of the general market slide, although the company has remained profitable. The shares have underperformed the broader markets, and are down 20% year-to-date. On a positive note, MGE has maintained its dividend through the COVID crisis. Management cited the company’s 40-year commitment to the dividend payment, which currently stands at 37 cents per common share quarterly, and yields a 2.4%.Morgan Stanley analyst Stephen Byrd is not sanguine about MGE’s longer-term outlook, however. “Without a multiyear track record of strong growth and execution, we remain cautious for now on longer-term growth prospects, and wait for more evidence of incremental capital programs before assigning a larger premium for a strong, sustainable growth outlook,” the analyst commented. To this end, Byrd rates this stock a Hold and his $64 price target implies shares will stay range-bound for the foreseeable future. (To watch Byrd’s track record, click here)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
There were 13.2 million new pickups sold from 2013 to 2019 in the U.S., with monthly payments of as much as $1,300 for each. That money could be better spent on 401(k) or IRA payments, says Ben Carlson.