TSP Weekly Tech Stock Update—Dec 21, 2024
This Week: 7 tech takeover candidates for 2025, Morgan Stanley upgrades ESTC, Jefferies bullish on AVGO, Stifel likes Cloudflare, AAPL/GOOGL new all-time highs, Five9 adds activist to board & more....
Hello from Rob…
—With M&A expected to pick up in 2025 after two lackluster years, I put together a list of 7 top takeover candidates in the tech sector. Details inside this issue.
—Shares of Cloudflare (NET, $112.69) this week hit a new 52-week high of $119.42. The stock is up 25% since I last wrote about the company in the middle of November.
On Tuesday, Cloudflare was upgraded to ‘Buy’ with a price target of $136 at Stifel. The firm says the company is positioned to deliver improving execution across a massive/growing TAM and is capable of sustaining 25% to 30% annual top-line growth along with improving profitability.
Stifel calls out recent high-quality leadership appointments across the company and says the go-to-market transition is taking hold, with continued sales productivity improvements and traction in the move up-market. Also, the firm sees early signs of AI inference momentum on top of Cloudflare’s global low-latency network.
*Inside This Issue: My 5 Top TSP Watch List Stocks
—Paid subscribers will receive the January 2025 PDF of Tech-Stock Prospector (TSP #275) via email on Tuesday, January 7.
—Paid subscribers have access to the TSP Market Overview and TSP Portfolio Updates sections inside this issue.