Many online shoppers are not yet familiar with Etsy. This is good news for his stock.

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These reports, extracted and edited by Barron’s, were recently published by investment and research firms. Reports are a sample of analysts’ thinking; they should not be taken as Barron’s views or recommendations. Some of the reporters have provided, or hope to provide, investment banking or other services to the companies analyzed.


Etsy

ETSY-Nasdaq

To buy Price $ 205.30 September 29

by Needham

Etsy’s unique business model has taken it from a niche e-commerce marketplace to a leading shopping destination across many categories, demographics and geographies. The company is still in the early stages of several product and marketing initiatives to engage and retain the record number of buyers and sellers it has added over the past 18 months. Our price target of $ 250 is based on 12 to 13 times our 2022 enterprise value / sales multiple estimate. Since 2015, across the clothing and accessories space, traditional retailers (department stores and specialty stores) lost 18 points of market share, while Etsy gained 1.2 points. There is still a great opportunity in front of Etsy. Despite being the fifth most visited e-commerce destination, after


Amazon
,


Walmart
,

eBay, and


Target

—Only 30% of people name Etsy when asked where they plan to make their next purchase.


Chesapeake Utilities

CPK-NYSE

To buy Price $ 122.25 September 29

by Janney

The status quo on how public services work has changed in recent years. Certainly the pandemic was a new wrinkle that had not been seen in modern times; ESG pressures are relatively new, and now the industry is grappling with higher natural gas prices. More, [recent] higher interest rates (based on the 10-year Treasury bill) make utility yields less attractive. However, as long as rates don’t rise too quickly, rising utility dividends can offset them. Chesapeake is among the companies best positioned in our hedging universe to overcome these concerns. Mostly, it operates in the right geographies for that particular time. La Delmarva [Delaware, Maryland, Virginia] and Florida’s economies are very resilient, and migration to these regions continues (and is likely to accelerate), based on anticipated fiscal policies and demographics. We maintain our estimate of the fair value of $ 134 on the Chesapeake shares, which is 25 times our estimate of 2023 earnings per share of $ 5.34.


Wholesale Costco

COST-Nasdaq

To buy Price $ 447.35 September 28

by Tigress Financial Partners

We are initiating a 12 month target price of $ 520. Costco’s loyal customer base and incredible inventory and supply chain management will drive further stock price gains. Costco recently reported another strong quarter, with the fastest revenue growth in over 20 years. Net sales increased 17.5%, year over year, to $ 61.44 billion, surpassing $ 60 billion for the first time and growing at the fastest pace in more than 20 years . Membership revenue grew nearly 11% from $ 1.11 billion in the fourth quarter of 2020 to $ 1.23 billion in the fourth quarter of 2021. And Costco announced a dividend increase of 12.9%.


Robin Hood

HOOD-Nasdaq

Underweight Price $ 44.62 September 28

by JP Morgan

Robinhood’s float remains low, but has the potential to increase significantly in the coming months as various shareholder milestones are reached as part of its [July 29] initial public offering. We anticipate the release of 48.9 million shares associated with Tranche Ia of convertible notes and the release of an additional 48.9 million of Tranche Ib upon effective registration. We also estimate that 567.9 million shares will be released on December 1, when the majority of the selling restrictions will expire. These released shares compare to the number of fully diluted shares of approximately 924 million. We also see Robinhood facing the challenge of achieving a competitive margin when running its small accounts, which averaged $ 4,500 in the second quarter of 2021. We value Robinhood at $ 35 per share, or about 21% of less than its current valuation.


Honda engine

HMC-NYSE

Buy (four out of five stars)Price $ 30.95 September 24

by CFRA

Honda’s revenue in the first quarter of fiscal 2022 grew 69% year-over-year thanks to its automotive and financial services business, but penalized by weaker motorcycle business and negative foreign currency conversions. We expect revenue for fiscal 2022 and 2023 to increase by 9% and 8%, respectively. The weak demand for short-term vehicles is mainly due to the Japanese and Chinese markets. However, we believe the impact is temporary and expect a gradual recovery in sales in the second half of the year. Honda cost reduction and reduction [vehicle] Discount trends will be the biggest support to earnings for FY2022. Our 12-month target price for the stock is $ 35, based on an estimated FY2022 price-to-earnings ratio of. 9.6.


ATN International

ATNI-Nasdaq

To buy Price $ 46.66 on September 29

by BWS Financial

The third quarter marks the first time that ATN [a telecom serving niche and rural markets in the U.S. and Caribbean area] will release quarterly results that include Alaska Communications, which it purchased. However, ATN shares continued to discount the contribution, trading relatively flat near book value, although the company is expected to start showing an increase in free cash flow in the second half of 2021. Price target: 85 $.

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