F1Q21 guidance also topped Street estimates. Despite coronavirus challenges, LITE has just reported another strong quarter that meaningfully beat consensus revenue and earnings estimates. Optical networking and laser company Lumentum is on a roll right now. Thanks to his strong stock picking skills, the analyst is ranked at #201 out of 6,877 analysts tracked by TipRanks. With EL likely to deliver an in-line fiscal fourth quarter on August 20, Parikh recommends investors take advantage of any volatility on the print. 'We believe the low interest rate backdrop and the company's superior growth prospects support a premium valuation' he adds. Indeed, Parikh believes that the combination of a potential mix shift toward the higher margin skincare category, a favorable channel shift (more online penetration), and benefits of expense initiatives could facilitate steady margin expansion to at least peak levels in coming quarters. 'In hindsight, we underestimated both the severity of the pandemic and the pace of a potential recovery from the bottom' the analyst wrote on August 13.īased on his recent work, the analyst now 'see a more rapid profit recovery than previously envisioned driven by the Chinese consumer, a resilient skincare category, and accelerated online growth.' Parikh explains that he previously downgraded the stock due to concerns of severe near-term headwinds related to coronavirus in China.

Estee Lauderįive-star Oppenheimer analyst Rupesh Parikh has just upgraded his rating on Estee Lauder from hold to buy, writing 'EL shares again positioned for outperformance upgrading to outperform.' That's as well as a Street-high $240 stock price forecast, and a re-established 'top pick' status. 'As such, we continue to believe MRNA is the lead to provide major amounts of safe and effective COVID-19 vaccines' the analyst concludes. And while competitors are setting up manufacturing campaigns, scale-up is still a work in progress, whereas Singh's diligence suggests MRNA is already moving beyond set-up and scale-up. 'While investors chose to focus on the average price paid per course of therapy ($12 to $13 per course) for this initial 100M doses (two doses per course), we would point out that MRNA is still the only company with a manufacturing set-up and scale-up that can deliver 10's to 100's of millions of doses per month of mRNA-1273' he wrote on August 12.Īt extremely competitive pricing, this would still equate to a substantial business, says Singh, one that likely exceeds his expectations (~$1B in 2021 sales). Although the potential initial price of mRNA-1273 is far below the economic price quoted by MRNA on its 2Q20 call, Singh is far from concerned, noting that the drug's price is likely to fluctuate over the next 6–12 months. On the news top Oppenheimer analyst Hartaj Singh reiterated his MRNA buy rating, with a bullish $108 stock price forecast (60% upside potential). On August 11, Moderna announced that the US government has secured 100 million doses of mRNA-1273 for $1.53B, in addition to a previous $955M investment to speed up the vaccine's approval process. Shares in biotech Moderna have exploded by over 240% year-to-date, boosted by optimism over its coronavirus vaccine mRNA-1273. It does this with a high-growth, high- margin business model and is developing new growth options, says Zukin. What's more, Dropbox is addressing a very large market opportunity that combines the Cloud Storage, Team Collaboration, and Work Productivity vectors. He believes DBX is undervalued on both a growth-adjusted and absolute basis and sees the potential for additional strong quarters to change the narrative. 'We view underlying business as healthy, and the company remains on track to deliver material margin expansion through CY24' the analyst told investors on August 7.

Looking ahead, 3Q and CY20 outlook came in ahead of consensus and 'appears conservative'.

And while average revenue per user trailed consensus, this was driven by large deal activity (a positive, in Zukin's view). He reiterated his buy rating on DBX post-earnings with a price target of $30- suggesting shares can surge over 50% from current levels.įor the quarter, Dropbox posted solid 2Q beats on revenue and paid users, highlighted by accelerating ARR (annual recurring revenue) growth. File-sharing service Dropbox has plenty of upside potential coming up ahead, according to top RBC Capital analyst Alex Zukin.

Dropbox stock prediction 2021