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5 March 2024, 01:31 | Jonnathan Handshoe

CFRA Lifts View on Shares of JetBlue Airways Corporation to Hold from Sell

Today, JBLU announced that it has reached an agreement with SAVE to terminate its merger agreement. The termination comes after the U.S. District Courts blocked the merger in January due to antitrust concerns. We are unsurprised by the announcement, given the high probability that it would be unlikely for the appeal courts to reverse the original decision that blocked the merger. With the deal off


5 March 2024, 01:08 | Jeff Lye, CFA

CFRA Keeps Hold Opinion on Shares of Guangzhou Tinci Materials Technology

We maintain our target for Tinci of CNY19 on a 2024 P/E of 21x (five-year average: 31x), justified by our anticipated downturn in electrolyte prices. We keep our 2024 EPS view at CNY0.90 and set 2025’s at CNY1.20. Tinci’s 2023 revenue of CNY15.5 billion (-31%) and net earnings of CNY1.83 billion (-67%) were in line with its earnings preview. The weak results were mainly caused by the sharp fal

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5 March 2024, 00:28 | Catherine Seifert

CFRA Keeps Hold Opinion on Shares of Power Corporation of Canada

We raise our 12-month target price by CAD3 to CAD42, valuing POW shares at 8.9x our 2025 operating EPS estimate of CAD4.80 (lifted today by CAD0.18) and at 9.7x our 2024 EPS estimate of CAD4.35, versus the shares’ three-year average forward multiple of 8.9x and a disparate peer average of 9.6x. Ahead of Q4 results, set to be released March 20, we reiterate our Q4 operating EPS estimate of CAD1.0



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