Stifel

Nike continues to be the most popular brand at retail for back-to-school (BTS) by a large margin, according Stifel's 16th annual Back-to-School 2023 athletic footwear survey of major athletic footwear sellers. However, Nike's prioritization of DTC and strategic shift from wholesale channel has created opportunity for other brands to take shelf space and gain mind share. Key beneficiaries include New Balance, Hoka, On and Crocs.

The findings are based on visits and calls to 110 stores (Dick's Sporting Goods, Academy Sports, Foot Locker, Finish Line, Champs, and Hibbett Sports) by Stifel's Americas - Sports and Lifestyle Brands analyst team, led by Jim Duffy, exploring the popularity of athletic footwear styles for both boys and girls in the BTS season. Survey results tabulate incidence of most popular style references and mentions of other popular styles by brand and retailer. Online checks were also conducted.

The research found Nike referenced as the most popular brand in 88.2 percent of checked stores, representing a 4.1 percentage point decline year over year from BTS 2022 and a 5.9 percentage point decline from Stifel's February 2023 NBA All-Star Athletic Footwear Survey.

A notable gainer was New Balance, which was referenced as the most popular brand by 7.7 percent of store checks, up from zero mentions in the 2022 BTS survey and 0.9 percent in the February 2023 survey.

Stifel noted that New Balance's better showing in the survey comes as Foot Locker on its second-quarter analyst call highlighted that New Balance's sales grew "well over 100 percent" to become the retailer's fourth largest brand. At the same time, Foot Locker disclosed Nike represented 64 percent of sales in the quarter compared to 69 percent in the prior year period as Nike has reduce allocations to Foot Locker's chains and Foot Locker has diversified its offerings.

Also apparently taking Nike's mind share was "Other" brands, cited among the most popular brands by 3.2 percent of store checks, up 1.4 percent year over year. Stifel attributed the improvement to gains by Hoka One One and On in sporting goods doors and Crocs in mall-based chains.

Stifel noted that On and Hoka are "demonstrating street style credibility" with increased mentions in BTS checks. Stifel wrote in its study, "Mall-based channels represent an avenue to reach a younger, more street-style-oriented consumer and both ON and Hoka are being deliberate about door expansion."

Stifel likewise noted that On and Hoka's expansion was mentioned on Foot Locker's call.

Crocs' mentions in the survey came despite the focus of store checks on athletic styles. Stifel wrote, "For the first time in our checks, Crocs was mentioned more than once (mentioned twice at Champs), and one of the mentions described Crocs as the best-selling footwear product in the store."

Tracking the frequency of total references of popular brands, stores referenced Nike in 96 percent of checks, the Jordan brand in 46 percent of checks, Adidas in 27 percent of checks, and New Balance in 27 percent of checks.

New Balance was by far the largest year-over-year gainer, up 20 percentage points with only 7 percent of stores refencing New Balance among popular brands in the 2022 BTS survey and 17 percent in the February 2023 survey. Stifel cited "growing popularity of the 550, 574, 990, and 2002 styles" while noting that New Balance's positioning on retail partner websites "also improved significantly."

Jordan brand also showed notable improvement among popular brand mentions, up 7 percentage points year over year and was in line with findings from the February 2023 survey. Stifel wrote in the study, "Low-top Jordan 1's gained relevance vs. mids and highs in earlier periods and retro popularity was mixed by version and colorway."

Only a few other brands gained ground in popular brand references, including Hoka, up 3 percentage points to 5 percent; On, up 2 percentage points to 3 percent; Under Armour, up 1 percentage point to 3 percent; and Reebok, up 2 percentage points to 2 percent.

Nike was the largest year over year decliner, referenced in 4 percent percentage points fewer checks among popular brands year over year.

Among hot styles for Nike, Air Force 1 the most frequently referenced popular style for BTS 2023, cited as popular in 62 percent of checks vs. 57 percent in BTS 2022. Stifel wrote in the study, "The white-on-white court classic has maintained its appeal though notable is increasing references of other color variations. Improved in-stock levels have diminished scarcity and likely contributed to stronger conversion for retailers, perhaps suggesting Nike digital platforms are losing share of volume with better availability in wholesale channels."

Nike Dunks were mentioned in 30 percent of stores, up 28 percentage points to mark the largest improvement of any style vs. the prior year. Black- and-white Pandas were found to be by far the most sought-after colorway.

More budget-friendly Nike Court styles were mentioned in a combined 18 percent of stores, improving from just 8 percent in the February 2023 checks and 10 percent in the prior year. On the downside, popularity references of Nike lifestyle running silhouettes such as retro Air Max 90 and 97 declined year over year. Stifel also found Nike discounting to be most prevalent in Air Max styles for BTS, both at owned-DTC and with retail partners.

Adidas' references among popular brands were down 3 percentage points year over year although mentions inflected positively from February 2023 lows of 23 percent. Stifel attributed the improvement to the re-emergence of the casual low-top Adidas Samba as Ultraboost and NMD popularity fades.

Among other brands that lost mind share as popular brands, Vans was referenced by 11 percent of store checks, down 2 percentage points year over year. Stifel noted that Vans did show improvement from being referenced by only 7 percent of stores in February 2023 checks. Stifel wrote, "The inflection from February is encouraging though frequency of references is still too small to interpret as a trend."

Converse was referenced among popular brands by 5 percent of store checks, declining 1 percentage point but was up 2 percentage points from the February 2022 survey.

Among other brands losing group, Brooks was referenced among popular brands by 5 percent of stores checked, down 3 percentage points year over year; HeyDude, 1 percent, losing 3 percentage points; and Asics, 1 percent, down 2 percentage points.

Puma was cited among popular brands by 5 percent of store checks, the same as the 2022 BTS season. Stifel noted that Puma's popularity did decline from its February 2023 checks timed to the NBA All-Star game (9 percent of stores), driven by seasonally lower popularity of the LaMelo Ball Collection.

Stifel Study: Nike Losing Ground in Back-To-School Popularity at Wholesale Retail

Following a strong performance in Q1, where Atlas (NYSE:ATCO) consumption saw a sequential rebound due to robust growth in app usage, Stifel believes that Snowflake's (NYSE:SNOW) solid consumption activity/commentary positions Atlas for another solid quarter in Q2. The firm expects Atlas to exceed the sell-side's projected 33% year-over-year growth by a significant margin (4%+).

Assessing EA (Enterprise Advanced), however, is more challenging as it has consistently outperformed management's predictions in recent quarters, yielding substantial positive outcomes. "While management expects another Q/Q decline, we would not be surprised by another upside quarter," noted Stifel.

Furthermore, the firm believes that MongoDB can maintain revenue growth of over 25% while continuing to invest in the future. This growth will be driven by a combination of robust growth among current customers (existing and new workloads, emerging product adoption), and new customer acquisition.

The firm reiterated its Buy rating and $420 price target on the stock.

MongoDB's Q2 earnings preview, Stifel expects Atlas acceleration in the near term By Investing.com

Gildan Activewear Inc. is a Canada-based, vertically integrated manufacturer of everyday basic apparel, including activewear, underwear, and hosiery products. The Company's primary product categories include activewear tops and bottoms (activewear), socks (hosiery), underwear tops and bottoms (underwear) and intimates. Its activewear product lines include T-shirts, fleece tops and bottoms, and sports shirts. Its hosiery product lines include athletic, dress, casual and workwear socks, liner socks, socks for therapeutic purposes, sheer panty hose, tights, and leggings. Its underwear product lines include men's and boy's underwear (tops and bottoms) and ladies panties. The Company's intimates product lines include ladies shapewear, intimates, and accessories. The products it manufactures, and sells are marketed under Company brands, including Gildan, American Apparel, Comfort Colors, Gildan Hammer, Alstyle and GoldToe. It also sells socks under the Under Armour brand.

Gildan Activewear Maintained at Buy at Stifel GMP Following 2022 ESG Report; Price Target Raised to US$37.00

AIRBUS : STIFEL REPREND LE SUIVI

Publié le 30/08/2023 à 08h39

AIRBUS : STIFEL REPREND LE SUIVI

AIRBUS - STIFEL REPREND LE SUIVI DE LA VALEUR AVEC UNE RECOMMANDATION À "ACHETER"

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AIRBUS : STIFEL REPREND LE SUIVI

SAFRAN : STIFEL REPREND LE SUIVI

Publié le 30/08/2023 à 08h27

SAFRAN : STIFEL REPREND LE SUIVI

SAFRAN - STIFEL REPREND LE SUIVI DE LA VALEUR AVEC UNE RECOMMANDATION À "CONSERVER"

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SAFRAN : STIFEL REPREND LE SUIVI

Eos Energy Enterprises, Inc. designs, develops, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial applications. It has developed a range of intellectual property with multiple patents covering battery chemistry, mechanical product design, energy block configuration and a software operating system (Battery Management System). The Battery Management System (BMS) software uses its developed algorithms and includes ambient and battery temperature sensors, and voltage and electric current sensors for the electrical strings and the system. It focuses on designing, developing, producing and selling alternating current integrated systems using its direct current Battery Energy Storage System (BESS). Its applications focus on integrating battery storage solutions with renewable energy systems that are connected to the utility power grid, renewable energy systems that are not connected to the utility power grid and others.

Stifel Adjusts Price Target on Eos Energy Enterprises to $15 From $13, Maintains Buy Rating

Whitecap Resources Inc. is a Canada-based oil and gas company. The Company is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The Company's operations include Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. Its Northern Alberta and British Columbia business unit is comprised of two Regions: Smoky River and Peace River. Its Central Alberta business unit is comprised of two Regional Assets: Southwest Alberta and West Central Alberta. Its Saskatchewan Business Unit is comprised of four Regional Assets: West Central Saskatchewan, Southwest Saskatchewan, Southeast Saskatchewan, and Weyburn EOR. The Company's subsidiaries are Whitecap Energy Canada ULC and Whitecap Energy Canada.

Whitecap Resources Kept at Buy at Stifel FirstEnergy as it Hikes Dividend; Price Target Raised to C$14.75

MeridianLink, Inc. is a provider of software platforms for financial institutions and consumer reporting agencies. The Company serves various financial institutions, including banks, credit unions, mortgage lenders, and specialty lending providers. Its lending software solutions provide a fully digital workflow for its customers, extending from their clients initial account opening applications to its customers? final extension of credit and, where necessary, collections activity. The Company's software solutions include point of sale systems; account opening software; consumer loan origination software (LOS); mortgage LOS; business lending software; marketing automation software; data verification software; collection software; and analytics and business intelligence. Its lending software solutions include MeridianLink One, MeridianLink Portal, MeridianLink Opening, MeridianLink Consumer, MeridianLink Mortgage, MeridianLink Business, and MeridianLink Collect.

Stifel Adjusts MeridianLink's Price Target to $19 From $16, Keeps Hold Rating

Stifel has decided to maintain its Buy rating of Tetra Technologies TTI and raise its price target from $6.00 to $7.00.

Shares of Tetra Technologies are trading up 0.0% over the last 24 hours, at $5.01 per share.

A move to $7.00 would account for a 39.72% increase from the current share price.

Tetra Technologies Inc is a diversified oil and gas services company, focused on completion fluids and associated products and services, water management, frac flowback, production well testing, offshore rig cooling, and compression services. It has two reporting segments namely Completion Fluids & Products, and Water & Flowback Services. The Completion Fluids & Products Division manufactures and markets clear brine fluids, additives, and associated products and services. The Water & Flowback Services Division provides onshore oil and gas operators with comprehensive water management services.

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

Stifel Maintains Buy Rating for Tetra Technologies: Here's What You Need To Know - Tetra Technologies (NYSE:TTI)

ELIOR : STIFEL ABAISSE SA RECOMMANDATION

Publié le 03/08/2023 à 07h13

ELIOR : STIFEL ABAISSE SA RECOMMANDATION

ELIOR - STIFEL ABAISSE SA RECOMMANDATION À "VENDRE" CONTRE "CONSERVER"

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ELIOR : STIFEL ABAISSE SA RECOMMANDATION

Firm Establishes First Flagship Offices in Utah, Florida, New Jersey, as Stifel ranks No. 1 in latest J.D. Power survey

ST. LOUIS, Aug. 3, 2023 /PRNewswire/ -- Stifel Financial Corp. (NYSE: SF) today announced that its independent contractor broker-dealer subsidiary, Stifel Independent Advisors, LLC, recruited three new offices with a combined total of $673 million in assets under management (AUM), in the second quarter of 2023. The teams, based in Utah, Florida, and New Jersey, bring total assets under management (AUM) to more than $6.5 billion, with the newest members of the independent channel highly experienced advisors offering boutique wealth management services.

Alex David, President and CEO of Stifel Independent Advisors, said, "This is an exciting time for the industry, and for elite independent wealth management teams looking to partner with an independent broker-dealer that offers the resources of a globally recognized investment bank. As members of a network of advisors located across the United States, our newest teams will soon find they'll be setting themselves apart with exceptional support that begins with comprehensive guidance. I'm delighted to welcome these outstanding professionals as we remain firmly committed to providing them with the support and resources for maximum success."

Advisors maintaining independent practices in partnership with Stifel Independent Advisors said the abundant resources of an industry-leading firm, personalized support from the C-suite, and access to top decision-makers were the reasons they chose to join the firm. Their affiliation with Stifel Independent Advisors comes at a time when financial advisors across Stifel ranked the firm the No. 1 Wealth Management Firm for Employee Advisor Satisfaction according to the J.D. Power 2023 U.S. Financial Advisor Satisfaction Study. The study measured satisfaction on key factors, including compensation, firm leadership and culture, operational support, as well as products and marketing, professional development and technology.

Stifel Independent Advisors welcomes the following practices to its network, all flagship offices:

Mr. David concluded, "The teams joining Stifel Independent Advisors are geographically diverse, but from coast to coast they share the same focus on putting clients first, meeting and exceeding clients' needs, and providing superior service that strengthens the Stifel brand. I am deeply thankful to be in partnership with these industry-leading practitioners and look forward to elevating their mission with exceptional service that helps grow their business."

* Stifel received the highest score among employee advisors in the J.D. Power 2023 U.S. Financial Advisor Satisfaction Study of employee advisors' satisfaction among those who are employed by an investment services firm. Visit jdpower.com/awards for more details.

Stifel Company Information

Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel's broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Stifel Independent Advisors, LLC; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company's broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company's website at www.stifel.com.

Stifel Independent Advisors Expands with New Teams Representing $670 Million in Client Assets

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Stifel maintains Unity Software at 'buy' with a price target of $50.00

Stifel maintains MGM at 'buy' with a price target of $59.00

Stifel maintains Terex at 'buy' with a price target of $76.00

Stifel maintains Waters at 'hold' with a price target of $305.00

Hayward Holdings (NYSE:HAYW) on Wednesday was upgraded to Buy from a prior investment rating of Hold by analysts at Stifel. They said the maker of swimming-pool equipment is poised for earnings growth as consumer demand recovers from a decline that coincided with the receding pandemic.

"Investor enthusiasm will build for our robust growth outlook alongside key points-of-differentiation not fully valued at current levels: top-tier margin structure, pricing power and the ability to disproportionately capitalize on the pool category's advantaged long-term growth prospects," W. Andrew Carter, analyst at Stifel, said in an August 2 report.

Hayward (HAYW) said revenue fell 29% from a year earlier to $283.5 million, beating the consensus estimate of about $268 million. Adjusted EPS of $0.19 beat the consensus of $0.16.

The quarterly results and accompanying management commentary "increased our confidence in the pool equipment cycle trough," according to Stifel. "Formal expectations now fully embed rightsized volumes from the COVID-era; we approach our outlook for 16% compound annual EBITDA growth with increased confidence."

Stifel raised its price target for Hayward (HAYW) to $16.50 a share from $14 a share, based on an enterprise value-to-EBITDA multiple of 13 times.

Hayward Holdings upgraded to Buy at Stifel as demand recovers (NYSE:HAYW)

The firm's new additions boost its total assets under management to more than $6.5B.

The independent contractor broker-dealer subsidiary of Stifel Financial Corp. has added three advisor teams and a combined $673 million to its assets under management.

ARC Wealth Management from Salt Lake City, Utah ($352 million AUM), BT Legacy Wealth Management in St. Petersburg, Florida ($189 million AUM), and Client First Financial in Colts Neck, New Jersey ($132 million AUM) have joined Stifel Independent Advisors LLC.

The recruitment of the firms adds three new flagship offices to its independent channel and takes its total AUM to $6.5 billion.

Alex David, president and CEO of Stifel Independent Advisors, says that it's an exciting time in the wealth management industry, especially for independent advisors looking to partner with a firm with the resources of a globally recognized investment bank.

"As members of a network of advisors located across the United States, our newest teams will soon find they'll be setting themselves apart with exceptional support that begins with comprehensive guidance," he said. "I'm delighted to welcome these outstanding professionals as we remain firmly committed to providing them with the support and resources for maximum success."

Advisors across Stifel recently ranked the firm the No. 1 Wealth Management Firm for Employee Advisor Satisfaction according to the J.D. Power 2023 U.S. Financial Advisor Satisfaction Study.

The new firms joining Stifel have vast combined experience.

ARC Wealth Management's three advisors are 27-year investment industry veteran Richard Romano, CRPS, managing partner and senior financial advisor; Brian Collard, CFP, CRPS, partner and financial advisor; and Amanda Arcilesi Simmons, CFP, partner and financial advisor.

BT Legacy Wealth Management's team is led by Jamie Tomlin, CFP, owner and managing director.

Client First Financial includes two financial advisors: John Lupi, managing director of investments, and Regina Singer.

"The teams joining Stifel Independent Advisors are geographically diverse, but from coast to coast they share the same focus on putting clients first, meeting and exceeding clients' needs, and providing superior service that strengthens the Stifel brand," added David. " I am deeply thankful to be in partnership with these industry-leading practitioners and look forward to elevating their mission with exceptional service that helps grow their business."

Stifel

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