Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
Joining the pre-earnings price target boosts from Wedbush and Raymond James, Evercore raises Apple’s (NASDAQ:AAPL) PT by $15 to $160 and maintains an Outperform rating.
Analyst Amit Daryanani says discussions around a potential Apple Car “have become louder given recent commentary in the media and comments by OEMs like Hyundai.”
The firm sees “increased probability that AAPL will have a product here in the next 5 years.”
Daryanani estimates that the Apple Car could add $36 billion in sales, $5.5B in EBIT, and $0.30 EPS in the long term.
Thesis: “Near-term bullish bias is driven by trifecta of iPhone supercycle, monetization of install base and GM expansion. The Automotive market will be a driver for multiple expansion as we get closer to realization that AAPL will disrupt the Automotive market much as it did the phone industry..”
Apple shares are up 2.6% to $142.66. The tech giant will report earnings on Thursday.
Late last month, reports suggested that Apple is moving forward with self-driving vehicle plans with a passenger car potentially arriving in 2024.
Earlier today, Wedbush increased its Apple bull case from $200 to $225 on the potential iPhone 12 strength.
World Wrestling Entertainment (WWE -0.2%) and NBCUniversal (CMCSA -0.1%) have a deal for NBCU’s Peacock streaming service to become the exclusive home of the WWE Network in the U.S.
That includes a 24/7 live channel and on-demand content arriving March 18.
And Peacock will be the sole home for WWE’s pay-per-view content, particularly including its flagship WrestleMania event.
All content will be available on Peacock Premium (the $4.99/month tier); the ad-free tier Peacock Premium Plus goes for about $10/month.
The news has led Guggenheim to boost its price target on WWE to $72 from $66, now implying 30% upside.
WWE says 2020 OIBDA was $286M and it now expects 2021 OIBDA of $270M-$305M (a figure that would be 15-20% higher without COVID-19 impact), the firm notes. It’s expecting 2021 OIBDA of $314M, and $420M in 2022.
Peacock is paying more than $200M/year for the deal, the WSJ says – and Guggenheim points out that significant costs will go away with the WWE Network shuttered. The deal could be $60M-plus accretive to OIBDA on a full-year basis, it says.
China Evergrande New Energy Vehicle Group is raising about $3.4B by selling 952.4M shares to six private investors, according to a new Hong Kong Stock exchange filing. The stake represents about 9.75% of the enlarged capital.
The backers for the group, which aims to be the world’s “most powerful and new electric vehicle group,” included tycoons Chan-Hoi Wan of Chinese Estate Holdings and China Gas Holdings founder Liu Ming-hui.
EV stocks NIO (NIO +2.6%), XPeng (XPEV +5.3%), Blink Charging (BLNK +8.1%), and Workhorse (WKHS +5.6%) are among the industry names seeing green in today’s trading.
Earlier this month, Wedbush said Democrats taking control in D.C. was a “very bullish” sign for the EV sector.
