Alliance receives virtually no analyst coverage. Two analysts have a Buy rating with a median price target of $29.00. At a recent price near $21.00 a share, the implied upside is 38.1%.
For the fourth quarter, Alliance is expected to post sales of $688.27 million, which would be up 9.5% sequentially and by 45.3% year over year. Adjusted EPS are forecast at $1.42, up 13.6% sequentially and 255% higher year over year. Full-year EPS are forecast at $4.31, an increase of more than 217%, and revenue for the year is estimated to rise by about 52.5% to $2.39 billion.
Alliance common units trade at a sales-to-enterprise value multiple of 1.2 for 2022 and 1.0 for both 2023 and 2024. The stock’s 52-week trading range is $12.60 to $27.63. Alliance pays an annual dividend of $2.00 (yield of 9.5%). Total shareholder return for the past 12 months was 62.6%.
GE Healthcare
GE Healthcare Technologies Inc. (NASDAQ: GEHC) began trading on January 3 and joined the S&P 500 index on the same day. Since the spin-off from GE, shares have added nearly 18%. GE stock is down by about 3.6% over the same period.
The new health care technology company released preliminary results on January 10, announcing fourth-quarter revenue of around $4.9 billion and full-year revenue of about $18.3 billion. Adjusted EBIT margin is expected to come in at 15% to 15.5%, up a full percentage point above the company’s earlier estimate. Free cash flow is expected to come in near the low end of the estimated range of $1.8 to $2.0 billion.
Only two analysts cover the stock until the quiet period ends early next month. At a share price of around $68.70, the stock trades above the median (and high) price target of $67.00.
Fourth-quarter estimates track the company’s own preliminary numbers, and forward estimates will not be meaningful until more analysts jump on the bandwagon.
The stock’s post-IPO range is $53.00 to $70.63. GE Healthcare does not pay a dividend, and that is something shareholders might expect to hear more about on Monday morning.
Li-Cycle
Lithium-ion battery recycler Li-Cycle Holdings Corp. (NYSE: LICY) has seen its share price decline by about 26% over the past year. Since posting a high above $15 in November 2021, the shares have dropped by more than 60%.
Lithium carbonate prices have dipped by about 20% since a high posted in November, due primarily to increased production (up 89% year over year) in China. Australian production is expected to rise by nearly a third year over year in 2023. Li-Cycle has begun operations at an Alabama plant and a facility in Rochester, New York, is under construction that is said to be capable of supplying enough batter-grade lithium to power 225,000 electric vehicles.
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