Sat, Jun 29, 2024 11:31 AM
Economic cracks are getting exposed in the 2024 market bounty
A Flip by Avya Verma
Carrier Global, Owens Corning, and Freeport-McMoRan have received Wall Street analyst upgrades. Carrier's stock is expected to grow due to its focus on sustainable climate technologies and smart building solutions, with a free cash flow of $3.1 billion in 2025. Owens Corning's acquisition of Masonite is seen as a value-add, with the company trading at less than 12 times estimated 2024 earnings.
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Maruti Suzuki's shares rose after reporting a 12.45% year-over-year increase in total sales to 1.79 lakh units in June, driven by a 57% surge in export sales to 31,033 units. Domestic sales grew 6% to 1.48 lakh units, with domestic passenger vehicle sales up 3% to 1.37 lakh units. The stock price jumped 0.61% to ₹12,107.35 on Monday afternoon, following the sales update.
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Tellurian's stock has lost 40% of its value in the past year due to uncertainty surrounding its LNG export facility project, which won't be operational until at least 2028. The project requires huge capital investment & poses significant risks. Conservative investors should sell or avoid the stock, while aggressive investors may find value in the company's potential for reliable cash flows.
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