CNI Industrial's Proactive Inventory Management And Solid Operating Results Promise Greater Value: Analyst
Portfolio Pulse from Shivani Kumaresan
Oppenheimer analyst Kristen Owen reiterated an Outperform rating on CNI Industrial NV (NYSE:CNHI) but lowered the price target from $19 to $18. CNI reported Q2 revenue of $6.57 billion, beating the consensus estimate of $6.44 billion. The company reaffirmed FY23 guidance, including IA net sales growth of 8-11%. The analyst noted solid operating results, proactive inventory management, and potential for improved value capture from key megatrends.
July 31, 2023 | 6:54 pm
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CNI Industrial NV's Q2 revenue beat estimates and the company reaffirmed its FY23 guidance. Despite this, the price target was lowered from $19 to $18 by Oppenheimer analyst.
CNI Industrial NV reported strong Q2 results and reaffirmed its FY23 guidance, indicating a positive outlook. However, the Oppenheimer analyst lowered the price target, which could create some uncertainty among investors. This mixed sentiment may result in a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100