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BYD, China’s leading New Energy Vehicle (NEV) producer, provided updates following FY23 report release. In addition to technological advancements, BYD has outlined aggressive sales targets, aiming to sell 3.6 million units in 2024, up 20% YoY. The company is also focusing on expanding its international footprint, with goals to reach 500,000 overseas sales in 2024 and double that figure to 1 mn units by 2025. Furthermore, BYD anticipates a significant shift in the Chinese market's landscape, e
Companies: TSLA 1211 TSLA
Hypothesis Research
Tesla delivered a mixed set of results in the last quarter and failed to meet revenue expectations of Wall Street. However, the company did manage an earnings beat. Tesla has had a challenging 2022 because of delivery challenges, high interest rates, and forced shutdowns. The demand side has not been a problem as orders are seen at around twice the rate of production. In response to that, the price of Model Y was raised a bit. On cost control, it is making quite good progress. For Autopilot, Tes
Companies: TESLA MOTORS (TSLA:NYSE)Tesla, Inc. (TSLA:NAS)
Baptista Research
Tesla delivered a mixed set of results. The company’s revenues were well below Wall Street expectations but it did manage to reach an industry-leading operating margin of 17% which helped them deliver an earnings beat. Giga Berlin achieved a milestone of 2000 manufactured in a week with ramping rapidly and very good quality. The production of 4680 cells of Tesla tripped in the quarter in comparison to the previous quarter. The company is also having its second generation of manufacturing equipme
Tesla had been in the process of carrying out upgrades which resulted in a lengthy shutdown of its Shanghai factory. The company faced its fair share of challenges but had a highly resilient quarter and managed to produce an all-around beat. The most significant accomplishment was setting production records in Shanghai and Fremont in June. With the advent of a different solar supply and advancements in unit economics, the energy sector made good progress in Q2. Their energy business experienced
Tesla has been a major beneficiary from the rend involving the increasing adoption of electric vehicles in the U.S. and China. Though the company battles with the supply chain's challenges, it successfully managed the volume growth up to 90%. In comparison to 2020, the automotive gross margin of the company rose by more than 600 basis points. Tesla has reached the highest operating margin in the electric vehicle industry. Production has begun in its Berlin and Texas facilities to meet the rising
The year 2021 was a particularly historic one for Tesla and electric vehicles. Although the management faced supply chain challenges throughout the year, they increased their volumes by nearly 90% which was truly remarkable. It is worth highlighting that the company has been ramping up its capacity in Texas and Berlin. Tesla is building Model Ys in Texas with the structural battery pack and 4680 cells, and they will start delivering after the vehicle receives final certification, which should ha
Tesla has been one of the hottest stocks this week after the major announcement from Hertz of ordering 100,000 Teslas by the end of 2022. The car rental company making a significant investment to build a large EV rental fleet has propelled Tesla’s stock above the $1000 threshold and well above our last target price. The company’s recent financial performance has also been strong with a 57% top-line growth and a 73% year-over-year increase in vehicle deliveries. Its low-cost models i.e., Model 3
Tesla inches closer to the target price from our last report as the company has already achieved a record production and deliveries in the second quarter of 2021 and the company surpassed the $1 billion net income threshold for the first time. Moreover, the company is making great progress on the full Self-Driving and 4680 cells. However, the impact of the global chip shortage situation remains quite serious. The management is looking to regain its lost momentum in China after the recent public
Research Tree provides access to ongoing research coverage, media content and regulatory news on TESLA MOTORS. We currently have 111 research reports from 4 professional analysts.
Watkin Jones’s guidance for FY24E is unchanged in its trading update for the first half to 31 March. We maintain our forecasts for the full year and introduce half-year estimates, in line with reiterated guidance that performance will be significantly H2 weighted. The group confirms a continuing gradual recovery in appetite among institutional investors to forward fund its build-to-rent (BTR) and student developments. We believe this should gather pace as the direction of interest rates becomes
Companies: Watkin Jones Plc
Progressive Equity Research
Ceres Power Holdings’ innovative technology uses electrolysis to produce green hydrogen and solid oxide fuel cells to generate power. In a year where it moved to the Main Market of the London Stock Exchange, it recorded revenue growth of 13% and gross margin expansion to 61% (the highest in the sector, according to management), but is yet to record an operating profit (FY23 operating loss of £59.4m versus £54.0m in FY22). Ceres continued its strategy to drive innovation and technology across sol
Companies: Ceres Power Holdings plc
Edison
Sanderson Design Group (SDG) has announced its FY24 full-year results, which are in line with the headline figures from its February trading update. A record year for Licensing and a strong performance in the key North America market helped to offset a challenging consumer environment in other geographies, most notably the UK. While this backdrop is set to persist in FY25E, the group will continue to focus on its strategic growth drivers, notably North America and Licensing, to deliver sharehold
Companies: Sanderson Design Group PLC
Gooch has issued a positive update for H1. Trading has started to recover with stocking levels normalising at industrial and medical devices customers. The outlook is positive with growth returning, and management has confirmed our full year estimates (adjusted for the disposal of EM4). The order book and order flow appear healthy, and net debt is comfortable. Gooch clearly still has plenty to do to lift operating margins from a lacklustre 8.1%, but the transformation plan appears to be back on
Companies: Gooch & Housego PLC
Zeus Capital
SCE is raising £16m through a placing (and up to a further £3m through open offer) to fund substantial expansion and additional working capital. This will enable the Group to grow to £75m revenue capacity in the near term, commence the build and equipping of a new factory and then (with internally generated free cash flow) scale to £150m revenue capacity and beyond. With a contracted order book of £190m and a prospective pipeline of £400m, this is clearly the time to seize the opportunity. The e
Companies: Surface Transforms PLC
Cavendish
Solid State’s trading update affirms the sustained strength in demand throughout H224, resulting in record FY24 revenue and adjusted PBT ahead of prior consensus of £155m and £12.5m, respectively. This is attributable to the earlier-than-expected delivery of a NATO contract. As a result, consensus FY24 revenue and adjusted PBT estimates have been raised by c 6% and c 20%, with respective FY25 estimates declining commensurately.
Companies: Solid State plc
Subsector price performance: In the fourth quarter to 29 December 2023 all but the AAA publishers and platform subsector saw share price declines. The UK PC and Console focused subsector was again the worst performing subsector (-26.2%) over the quarter and LTM (-70.1%).
Companies: TBLD FDEV DEVO
On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div
Companies: PTAL GHH IGP MSLH PINE NXQ EQLS NXR AXL
Surface Transforms has issued new revenue guidance for FY24, with the company now expecting revenues in the range £17.5-22m. We are withdrawing our previous forecasts for FY24 and withdrawing our price target while we review the impact of the new guidance.
Companies: IG Design Group plc
Canaccord Genuity
We are initiating coverage of a.k.a. Brands Holding Corp. ("a.k.a. Brands" or the "company"), a leading owner of primarily online apparel-based brands focused on Generation Z and Millennial consumers, with a Buy rating and $14.00 price target, or 10.9X our 2025 EBITDA projection of $20.2 million. The company's brands include: 1) Princess Polly, focusing on 15 to 25 year-old women; 2) Petal & Pup, which offers feminine styles for 25 to 34 year-old women; 3) Culture Kings, a street wear destinatio
Companies: GPS URBN ITX AEO AEO GES GES ITX GPS ANF 0R32 URBN
Small Cap Consumer Research LLC
Banquet Buffet*** Abingdon Health 9.25p £11.3m (ABDX.L) The lateral flow contract development and manufacturing organisation announces its unaudited interim results for the six months ended 31 December 2023. Revenue increased 117% to £2.4m (H1 2023: £1.1m). The Adjusted EBITDA loss decreased 47% to £1.2m (H1 2023: £2.2m). Furthermore, reduction in operating loss of 50% to £1.2m (H1 2023: £2.4m). The Board therefore expects that H2 2024 revenue will be significantly improved compared with H1 2024
Companies: CPX SLP FA/ FIPP ECR ETP ORCA
Hybridan
AFC has unveiled a groundbreaking modular ammonia cracker system demonstrating viable and scaleable production of hydrogen in the UK using this method. The cracker system is designed to deliver 140 tonnes of fuel cell grade hydrogen each year. Hydrogen from the plant will initially be targeted for sale into AFC’s UK H-Power Generator deployments, including those with Speedy Hydrogen Solutions. Along with the recent purchase of the mobile storage and distribution assets of Octopus Hydrogen, AFC c
Companies: AFC Energy plc
Sanderson Design Group (SDG) continues to deliver on its key strategic initiatives and growth drivers despite a challenging global backdrop. The group’s FY23 performance showed flat revenue, with adjusted underlying PBT rising £0.1m to £12.6m. Net cash dropped back to £15.4m, with the total dividend maintained at 3.5p. The star performers were Licensing (reported revenue +25%), the Morris & Co brand (+16%) and the US market (+20%). Our forecast revisions assume more modest sales progression, wit
Sanderson Design Group has delivered its full-year trading update to 31 January 2024. Group revenue has eased back 3.1% to £108.5m on a reported basis, following the 2% decline in H1. The strongest performances were delivered by the strategic growth cornerstones of Licensing and North America, offset by challenging market conditions in the UK, Europe and the Rest of the World. A strong balance sheet saw year-end cash rise to £16.2m, compared with £15.4m at year-end FY23. Having traded in line wi
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