Reply To: Traders Market Weekly: Yield Inversion Therapy Kill Growth To Kill Inflation

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Truman
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DA Davidson initiated coverage of Harsco (HSC) with a Buy rating and $18 price target. The firm is positive on the company’s position as the global provider of environmental services tailored towards specialty waste stream solutions as it effectively progresses towards a refined portfolio. The firm sees significant long-term organic opportunities for both its Environmental and Clean Earth segments supported by its competitive service offerings and tenured relationships with customers.

Deutsche Bank initiated coverage of ABM Industries (ABM) with a Buy rating and $62 price target. The firm sees ABM as a scaled integrated facilities management company that’s on a multi-year self-help journey. The firm expects digitization and new services to drive accelerating growth, improved margins and cash flow, and a re-rating of ABM’s valuation.

Wells Fargo initiated coverage of Carnival (CCL) with an Underweight rating and $21 price target. The firm has a positive view on cruise stocks given the firm’s expectation for gradually improving fundamentals in the coming quarters, but is relatively more cautious on Carnival at current share levels. The firm notes the company’s international footprint can be a challenge during periods of geopolitical tensions, and it has less-predictable earnings given the fuel price volatility. The firm believes oil could pose a risk to Carnival’s 2023 EBITDA estimates returning to 2019 levels if prices remain elevated.

Guggenheim initiated coverage of Signify Health (SGFY) with a Buy rating and $36 price target as part of the launch of coverage on six companies in the tech-enabled healthcare industry. The firm notes the U.S. healthcare system operates with unsustainable high costs and the firm believes the way in which services are delivered is beginning to change, with much of that due to the onset of newer technologies.