Wall St Engine
Bernstein Reiterates Outperform Rating on $WING, PT $330; Just Scratching the Surface of its Potential'
Analyst comments: "Wingstop’s Smart Kitchen was contemplated in the average unit volume long-term target of $3 million, but its rollout to the full system by end of FY25 may boost same-store sales above guidance. The sales lift observed in test stores was driven by greater consistency and a 50% reduction in quote time to 10 minutes, as the front-line is empowered to accurately cook the right order ahead of the order being actually placed—using forecasts refined via extensive data (history, weather, community events, betting agency data to measure excitement levels of sporting events, etc.).
We see the Smart Kitchen as a vehicle to drive more conversion, more user occasions, and repeat transactions—which we view as more critical than closing the awareness gap at this stage of growth. We continue to see Wingstop as just scratching the surface of its potential: increasing the delivery share from 30% to over 50%, winning 20% of the young/adult off-premises occasion, and reaching over 10,000 stores globally."
Analyst: Danilo Gargiulo
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Bernstein Reiterates Outperform Rating on $WING, PT $330; Just Scratching the Surface of its Potential'
Analyst comments: "Wingstop’s Smart Kitchen was contemplated in the average unit volume long-term target of $3 million, but its rollout to the full system by end of FY25 may boost same-store sales above guidance. The sales lift observed in test stores was driven by greater consistency and a 50% reduction in quote time to 10 minutes, as the front-line is empowered to accurately cook the right order ahead of the order being actually placed—using forecasts refined via extensive data (history, weather, community events, betting agency data to measure excitement levels of sporting events, etc.).
We see the Smart Kitchen as a vehicle to drive more conversion, more user occasions, and repeat transactions—which we view as more critical than closing the awareness gap at this stage of growth. We continue to see Wingstop as just scratching the surface of its potential: increasing the delivery share from 30% to over 50%, winning 20% of the young/adult off-premises occasion, and reaching over 10,000 stores globally."
Analyst: Danilo Gargiulo
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Wall St Engine
Needham Raises $HOOD PT to $71 from $58 -Buy Rating
Analyst comments: "We continue to be impressed by HOOD's product expansion. Not only has the company shown breadth in its product suite, but also depth, as we believe HOOD will become more competitive within crypto specifically. In addition to the Bitstamp acquisition (still expected to close in 2H 2025), HOOD acquired Canadian-based WonderFi this past week.
We view both transactions as increasing HOOD's depth in crypto for institutional users—a new customer base—and internationally in Europe and Canada. Finally, we see more crypto-specific rollouts on the horizon; we would expect more asset listings in the U.S. as well as possibly HOOD launching its own blockchain or some variant. We believe these additions would materially increase HOOD’s product depth.
We are raising our price target to $71 and note near-term catalysts, including HOOD's June France Crypto event, as positives."
Analyst: John Todaro
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Needham Raises $HOOD PT to $71 from $58 -Buy Rating
Analyst comments: "We continue to be impressed by HOOD's product expansion. Not only has the company shown breadth in its product suite, but also depth, as we believe HOOD will become more competitive within crypto specifically. In addition to the Bitstamp acquisition (still expected to close in 2H 2025), HOOD acquired Canadian-based WonderFi this past week.
We view both transactions as increasing HOOD's depth in crypto for institutional users—a new customer base—and internationally in Europe and Canada. Finally, we see more crypto-specific rollouts on the horizon; we would expect more asset listings in the U.S. as well as possibly HOOD launching its own blockchain or some variant. We believe these additions would materially increase HOOD’s product depth.
We are raising our price target to $71 and note near-term catalysts, including HOOD's June France Crypto event, as positives."
Analyst: John Todaro
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Offshore
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Investing visuals
$PLTR: an elite software company but it doesn’t come cheap 🫰 https://t.co/NTtAoyvSbP
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$PLTR: an elite software company but it doesn’t come cheap 🫰 https://t.co/NTtAoyvSbP
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Wall St Engine
Raymond James on $SMCI (Outperform; PT $41): 'Party in the desert'
"We maintain an Outperform rating on shares of Supermicro following news regarding a significant new award. Shortly after our initiation of research coverage of Supermicro, it announced a $20 billion partnership with DataVolt that expands visibility with a multi-year hardware backlog and supports upward estimate revisions, although the build-out timing—targeted for 2028—remains uncertain.
Our investment thesis—anchored on hyperscale AI infrastructure leadership, expanding U.S. manufacturing, and accelerating share gains on NVIDIA's Blackwell platform—remains intact."
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Raymond James on $SMCI (Outperform; PT $41): 'Party in the desert'
"We maintain an Outperform rating on shares of Supermicro following news regarding a significant new award. Shortly after our initiation of research coverage of Supermicro, it announced a $20 billion partnership with DataVolt that expands visibility with a multi-year hardware backlog and supports upward estimate revisions, although the build-out timing—targeted for 2028—remains uncertain.
Our investment thesis—anchored on hyperscale AI infrastructure leadership, expanding U.S. manufacturing, and accelerating share gains on NVIDIA's Blackwell platform—remains intact."
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App Economy Insights
$TCEHY Tencent Q1 FY25:
Revenue +13% Y/Y to RMB180B ($25B).
🎮 Gaming +24%
💬 Social Networks +7%
📢 Marketing Services +20%
💳 Fintech & Business +5%
Weixin/WeChat: 1.4B MAU (+3% Y/Y). https://t.co/HdQzHgfjnX
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$TCEHY Tencent Q1 FY25:
Revenue +13% Y/Y to RMB180B ($25B).
🎮 Gaming +24%
💬 Social Networks +7%
📢 Marketing Services +20%
💳 Fintech & Business +5%
Weixin/WeChat: 1.4B MAU (+3% Y/Y). https://t.co/HdQzHgfjnX
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Wall St Engine
KeyBanc and Jefferies both flag the proposed early phase-out of nuclear production tax credits (PTCs) as a clear NEGATIVE for Constellation Energy $CEG.
KeyBanc sees the draft bill’s accelerated sunset of nuclear PTCs as incrementally negative, undercutting assumptions of long-term subsidy support for CEG’s core nuclear fleet. Jefferies adds that the PTC has been a major pillar of CEG’s investment case, supporting credit ratings, reducing hedging needs, and attracting generalist investors by providing perceived earnings stability. They warn that even if the credit is eventually restored, valuation multiples on nuclear PTC cash flows may be lower going forward, especially as uncertainty creeps in. CEG itself acknowledged on its Q1 call that while nuclear wasn’t being discussed at the time, the process would likely be "bumpy."
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KeyBanc and Jefferies both flag the proposed early phase-out of nuclear production tax credits (PTCs) as a clear NEGATIVE for Constellation Energy $CEG.
KeyBanc sees the draft bill’s accelerated sunset of nuclear PTCs as incrementally negative, undercutting assumptions of long-term subsidy support for CEG’s core nuclear fleet. Jefferies adds that the PTC has been a major pillar of CEG’s investment case, supporting credit ratings, reducing hedging needs, and attracting generalist investors by providing perceived earnings stability. They warn that even if the credit is eventually restored, valuation multiples on nuclear PTC cash flows may be lower going forward, especially as uncertainty creeps in. CEG itself acknowledged on its Q1 call that while nuclear wasn’t being discussed at the time, the process would likely be "bumpy."
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