This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXMPEDAF0IH_M.jpg
The analysts told investors in a note that the company’s earnings optionality remains attractive.
“We recognize the challenges of sticking with a stock idea that is up 48% year-to-date (vs S&P +17%) and trades at 37.5x forward P/E. But after refreshing our analysis and reassessing our CMG thesis, we believe the near-term and long-term earnings power vs consensus remains too attractive,” they wrote.
“CMG holds the greatest ’23E EPS upside vs the Street within our coverage, based on our work,” they added. “the model has line of sight to ~$100/sh of EPS by 2027.”
Oppenheimer sees a 20% or more “longer-term EPS algorithm without tilting aggressively on underlying assumptions.” Ahead of CMG’s earnings on July 26, the firm forecasts an across-the-board beat.
