Top Chinese companies have tumbled in market cap, with 12 firms dropping out of the 2022 Hurun Global 500, a list of the 500 most-valued, non-state-owned firms in the world. According to the 2022 report released by the Shanghai-based Hurun Research Institute on Dec. 9, the United States leads the world with a total of 260…
TSMC Surpasses Tencent as Highest Value Company in Asia, as Top Chinese Firms Drop From Global 500 Ranking
December 19, 2022
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Palihapitiya to Wind Down 2 SPACs as Choppy Markets Drag Valuations
Prolific SPAC investor Chamath Palihapitiya is winding down two of his blank-check firms after failing to find suitable merger targets within deadline, as choppy markets dampen investor sentiment for the once high-flying acquisition vehicles. Social Capital Hedosophia Holdings Corp. IV and Social Capital Hedosophia Holdings Corp. VI will return the funds raised to shareholders, Palihapitiya…
Volkswagen Targets 75 Billion Euro Valuation in Landmark Porsche IPO
HAMBURG/BERLIN—Volkswagen is targeting a valuation of up to 75 billion euros ($75.1 billion) for luxury sportscar maker Porsche, it said on Sunday, in what will be Germany’s second-largest initial public offering (IPO) in history. Volkswagen will price preferred shares in the flotation of Porsche AG at 76.50 euros to 82.50 euros per share, the carmaker…
Palo Alto Networks Stock Gains as Analysts Hail the Stock
Analysts hailed Palo Alto Networks Inc., a pure-play cybersecurity vendor that sells security appliances, subscriptions, and support to enterprises, government entities, and service providers. Wells Fargo analyst Andrew Nowinski initiated coverage with an Overweight rating and a price target of $700, suggesting a 32 percent upside. The analyst believes Palo Alto has “assembled the most comprehensive Zero Trust platform” and…
Here’s Why Wells Fargo Named CrowdStrike as Top Pick for 2022
Wells Fargo analyst Andrew Nowinski initiated coverage of CrowdStrike Holdings with an Overweight rating and a $275 price target, implying a 53.4 percent upside. The analyst sees CrowdStrike being well-positioned to continue to take share from both legacy and next-gen vendors with “one of the most comprehensive platforms in the industry.” Nowinski named the stock as a top pick…
Is Ford Stock Overvalued or Undervalued?
Ford Motor Company shares have outperformed the S&P 500 in the last year, generating a 12-month total return of 174.4 percent. But after a huge run, investors may be wondering if there’s any value left in Ford stock. Earnings A price-to-earnings ratio (PE) is one of the most basic fundamental metrics for gauging a stock’s…
Private Equity Behemoth TPG Aims for Over $9 Billion Valuation in US IPO
TPG is aiming for a valuation of as much as $9.3 billion in its U.S. initial public offering, as the private equity powerhouse finally moves closer to a stock market flotation after toying with the idea of going public for several years. The firm, an investor in Airbnb Inc., Uber Technologies Inc., and Spotify Technology…
Accenture Stock Gains on Q1 Beat, Raised FY22 Outlook
Accenture PLC reported first-quarter FY22 revenue growth of 27 percent year-on-year to $14.97 billion, beating the consensus of $12.6 billion. New bookings increased 30 percent Y/Y to $16.8 billion. Consulting revenues rose 33 percent Y/Y to $8.4 billion, and Outsourcing revenues increased 21 percent Y/Y to $6.6 billion. Geographic Market Revenue North American market revenue grew 26 percent Y/Y…
Goldman Sachs Is Bullish on RingCentral, Sees 32% Upside
Goldman Sachs analyst Kash Rangan initiated coverage on RingCentral Inc. with a Buy and a price target of $240, implying a 31.9 percent upside. Rangan launched coverage on the communication and collaboration segment with a positive sector view. The 2020 cloud total addressable market of $19 billion implies a cloud penetration at 7 percent in 2020, which should…
Deutsche Bank Is Bullish on This Swiss Consumer Electronics Company
Deutsche Bank analyst Robert Sanders initiated coverage of Logitech International SA with a Buy rating and CHF 92 price target, implying 23 percent upside to December 10, 2021 closing price of CHF 74.82. With the shares down 40 percent since June, investors “appear to have lost faith” in Logitech’s ability to grow sustainably following the…
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