The dark pool scanner detected a large dark pool trade in FOCS stock on July 2, 2020.
Make sure to review the lesson on dark pool scanners so you understand the chart above and what is going on.
On June 30, 2020, Goldman Sachs analyst Alexander Blostein upgraded Focus Financial Partners to Buy from Neutral with a price target of $36, up from $24. As markets have stabilized over the last few months, Focus is in a better position to execute on a “pent-up” acquisition pipeline likely to convert in 2021, Blostein tells investors in a research note. Further, the company should also see an acceleration of the secular trend of small advisors looking for affiliation with bigger platforms, says the analyst.
On June 22, 2020, Credit Suisse analyst Craig Siegenthaler initiated coverage of Focus Financial Partners with an Outperform rating and $39 price target, calling the stock the “the best way for investors to play” secular growth of the U.S. Registered Investment Adviser, or RIA, business. He sees a $9 trillion addressable market in three to five years, the analyst noted.
On May 21, 2020, BofA analyst Michael Carrier double-upgraded Focus Financial Partners to Buy from Underperform with a price target of $29, up from $21. The analyst is citing a more favorable growth outlook and improving financial and business metrics, with rising markets and economic supporting the outlook for M&A. Carrier adds that the Focus Financial team is actively managing the company’s interest expense and margins as he raises his target FY21 earnings multiple to 11-times from 8-times.
On May 7, 2020, Focus Financial Partners reported Q1 EPS of 74c versus the consensus estimate of 67c. The company reported Q1 revenue of $337.1M versus the consensus estimate of $323.59M.
“Our 2020 first quarter results were strong despite the challenging market backdrop, reflecting excellent performance by our partner firms,” said Rudy Adolf, Founder, CEO and Chairman. “These are the times when prudent fiduciary advice is of utmost importance and we are confident that our partners are well-equipped to face the challenges posed by the COVID-19 disruption. Our team has responded by supporting them in every aspect of their businesses and helping them maximize the value they deliver to their clients, which is at the core of what we do. I am very proud of how the Focus family has rallied in these circumstances, demonstrating incredible commitment and resolve. We believe our business will only be strengthened by the way we and our partners are navigating this crisis, which will drive outperformance in the long-term.”