On Wednesday, BTIG adjusted its outlook on Starbucks Corporation (NASDAQ:), reducing the coffee giant’s stock price target from the previous $115.00 to $100.00. Despite the lower price target, the firm maintained its Buy rating on the company’s stock.

The reassessment follows Starbucks’ disclosure of a particularly challenging quarter, marked by a significant drop in customer visits. The downturn was attributed to a retreat by value-oriented customers and unfavorable weather conditions in the United States, alongside stark and widespread consumer weakness.

The analysis further highlighted that similar issues were observed in the Chinese market, where Starbucks experienced double-digit comparable sales declines. The report noted that the Chinese consumer has not fully rebounded post-Covid, and the brand faces increased competitive pressures in the region. The firm acknowledged the disappointing results, indicating that the stock would likely suffer a notable decrease in value today.

BTIG emphasized that some of the factors contributing to the poor performance, such as adverse weather, might be temporary and have exacerbated the appearance of the results.

The firm expressed continued confidence in Starbucks, citing its unique position as an established, global brand with solid economics, a lack of close competitors, and a highly desirable customer base. According to the analyst’s comments, historical trends suggest that such setbacks can be remedied and may present favorable buying opportunities.

The firm’s revised stock stock price target of $100 reflects a recalibration in response to the lower earnings and sales trends observed. Despite the current challenges, BTIG’s stance indicates a belief in Starbucks’ potential for recovery and growth over time, sustaining its recommendation for investors to buy the shares at the adjusted price level.

InvestingPro Insights

Amid the adjustments to Starbucks Corporation’s (NASDAQ:SBUX) outlook by BTIG, InvestingPro data and tips provide additional context for investors considering the company’s stock. Starbucks has demonstrated a commitment to shareholder returns, having raised its dividend for 14 consecutive years. This, coupled with a dividend yield of 2.58% as of the last twelve months leading up to Q1 2024, underscores its appeal to income-focused investors.

The company’s resilience is also reflected in its low price volatility, suggesting that Starbucks shares might offer stability in a portfolio. Despite recent challenges, the company is trading at a low P/E ratio of 23.69 relative to near-term earnings growth, which could indicate an attractive valuation for growth-oriented investors.

With a market capitalization of $100.19 billion and revenue growth of 11.46% in the last twelve months up to Q1 2024, Starbucks maintains a strong position in the Hotels, Restaurants & Leisure industry.

For those looking to delve deeper into Starbucks’ financial health, InvestingPro offers additional insights, including 10 more InvestingPro Tips for a comprehensive analysis. Take advantage of these insights and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which can further inform investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

+ Approval by NMG shareholders of private placements for an aggregate amount of US$37.5M by strategic partner Mitsui and long-time investor Pallinghurst in accordance with Regulation-61-101.

+ Private placements scheduled to close on May 2, 2024, with the surrender and cancellation of Mitsui and Pallinghurst’s convertible notes dated November 8, 2022.

MONTRÉAL–(BUSINESS WIRE)–Nouveau Monde Graphite Inc. (NMG or the Company) (NYSE:NMG, TSXV: NOU) announces that, at the special meeting of the Company’s shareholders (Shareholders) held today, Shareholders approved the previously announced aggregate US$37.5-million private placements from Mitsui & Co., Ltd. (Mitsui) (TYO: 8031) and Pallinghurst Bond Limited (Pallinghurst) that will be completed by NMG issuing common shares and warrants in exchange for the surrender and cancellation of each of Mitsui’s and Pallinghurst’s convertible notes dated November 8, 2022, as amended and restated on April 11, 2023 (the Related Party Private Placements).

Mitsui had committed to a private placement of US$25 million and Pallinghurst to a private placement of US$12.5 million, in each case subject to the approval of disinterested Shareholders of each transaction in accordance with Regulation 61-101 Protection of Minority Security Holders in Special Transactions (Regulation 61-101) and Policy 5.9 “ Protection of Minority Security Holders in Special Transactions (Policy 5.9) and to regulatory approvals.

As per Regulation 61-101, the Company’s disinterested directors engaged Fort Capital Partners British Columbia (Fort Capital Partners) to carry out a valuation analysis and fairness opinion (the Valuation and Fairness Opinion). The Valuation and Fairness Opinion concluded that the Related Party Private Placements are fair, from a financial point of view, to Shareholders (other than Mitsui and Pallinghurst).

Matters Voted at the Special Meeting

Shareholders adopted all resolutions submitted for their approval, including the Related Party Private Placements. The complete voting results for each item of business are as follows:

Closing of the Related Party Private Placements

NMG, Mitsui and Pallinghurst are scheduled to close the Related Party Private Placements on May 2, 2024, subject to the final acceptance of the TSX Venture Exchange.

Mitsui is exchanging its convertible note, dated November 8, 2022, as amended and restated on April 11, 2023, for 12,500,000 Common Shares in the capital of NMG (the Common Shares) and 12,500,000 Common Share purchase warrants on the same pricing and other terms as the previously announced US$25 million equity investment in NMG (the Tranche 1 Investment) by Panasonic Holdings Corporation and General Motors LLC (the Anchor Customers). NMG will also enter into an investor rights agreement (the Investor Rights Agreement) with Mitsui at the closing of their investment. Pursuant to the Investor Rights Agreement, Mitsui will be required to lock-up its securities for a period of 12 months from the date of their investment. The Investor Rights Agreement also provides Mitsui with certain rights relating to its investment in NMG, namely certain board nomination and anti-dilution rights. Mitsui will be subject to a standstill limitation whereby it will not be able to increase its holdings beyond 20% of the issued and outstanding Common Shares for a period of three years.

Pallinghurst is exchanging its convertible note, dated November 8, 2022, as amended and restated on April 11, 2023, for 6,250,000 Common Shares and 6,250,000 Common Share purchase warrants on the same pricing and other terms as the Tranche 1 Investment with the Anchor Customers. NMG will enter into a registration rights agreement with Pallinghurst at the closing of their investment.

Concurrently with the redemption, surrender and cancellation of Mitsui’s and Pallinghurst’s convertible notes, 1,579,043 common shares that have been reserved for issuance will be issued as fully paid and non-assessable common shares.

About Nouveau Monde Graphite

Nouveau Monde Graphite is an integrated company developing responsible mining and advanced manufacturing operations to supply the global economy with carbon-neutral active anode material to power EV and renewable energy storage systems. The Company is developing a fully integrated ore-to-battery-material source of graphite-based active anode material in Québec, Canada. With enviable ESG standards and structuring partnerships with anchor customers, NMG is set to become a strategic supplier to the world’s leading lithium-ion battery and EV manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com

Subscribe to our news feed: https://bit.ly/3UDrY3X

Cautionary Note
All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the closing of the transactions contemplated with Pallinghurst and Mitsui, receipt of any regulatory or other approvals in respect of the initiatives described herein, the anticipated benefits of the initiatives described herein, the use of proceeds of the Related Party Private Placements, the anticipated timing and various steps to be completed in connection with the Related Party Private Placements, including closing, the intended supply of active anode material to GM and Panasonic Energy Co., Ltd., a wholly owned subsidiary of Panasonic and expected volume of active anode material per year, the Company’s planned all-electric operations, the Company’s initiatives and commitments described in this press release, including those related to ESG, the positive impact of the foregoing on project economics and shareholder value, the Company’s relationship with its stakeholders, including First Nations, suppliers, contractors and employees, market and industry trends, the general business and operational outlook of the Company, the intended results of the initiatives described in this press release and those statements which are discussed under the About Nouveau Monde paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives, constitute forward-looking information or forward-looking statements (collectively, forward-looking statements) within the meaning of Canadian and United States securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for graphite concentrate, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favorable terms, sustained labor stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, the various tax assumptions, CAPEX and OPEX estimates, all economic and operational projections relating to the project, local infrastructures, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, those risks, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, including the changes in China’s policy regarding restrictions on Chinese graphite materials exportations, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated March 27, 2024, including in the section thereof captioned Risk Factors, which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

The market and industry data contained in this press release is based upon information from independent industry publications, market research, analyst reports and surveys and other publicly available sources. Although the Company believes these sources to be generally reliable, market and industry data is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data-gathering process and other limitations and uncertainties inherent in any survey. The Company has not independently verified any of the data from third-party sources referred to in this press release and accordingly, the accuracy and completeness of such data is not guaranteed.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information regarding the Company is available in the SEDAR+ database (www.sedarplus.ca), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240501858549/en/

MEDIA
Julie Paquet
VP Communications and ESG Strategy
+1-450-757-8905, ext. 140
jpaquet@nmg.com

INVESTORS
Marc Jasmin
Director, Investor Relations
+1-450-757-8905, ext. 993
mjasmin@nmg.com

Source: Nouveau Monde Graphite Inc.

During May Vision Health Month, all Canadians are encouraged to integrate regular eye exams into their healthcare routine and visit their optometrist.

OTTAWA, Ontario–(BUSINESS WIRE)–As May marks Vision Health Month, the Canadian Association of Optometrists (CAO) releases a digital national campaign to raise public awareness about eye health and vision care, encouraging Canadians to get their eyes checked. Several provincial associations of optometrists (New Brunswick (NYSE:) Association of Optometrists, Newfoundland & Labrador Association of Optometrists, Nova Scotia Association of Optometrists, and The Prince Edward Island Association of Optometrists) and sponsors from the industry – Alcon (NYSE:), CooperVision, and Sun Pharma – joined and supported this campaign.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240501239056/en/

Urgent need for public education about eye health and vision care

8+ million Canadians are at risk of eye-threatening conditions, yet 75% of vision loss can be treated or prevented if diagnosed early. Despite Canadians highly valuing their eyesight and fearing its loss, there is a prevalent lack of awareness regarding the necessity of regular, comprehensive eye exams. Many individuals often overlook the importance of thorough examinations for early detection.

A 2022 survey1 revealed a telling statistic: 37% of respondents who had not seen an eye care professional in over two years did so because they believed there was nothing wrong with their vision. Additionally, the survey found that men in Canada are less likely than women to prioritize eye health.

With those statistics in mind, the CAO released a new digital campaign to raise public awareness about eye health and vision through a simple yet potent message: GetEyeWise!

Many serious eye conditions do not present obvious symptoms initially. Waiting for symptoms to appear can expose individuals to significant risks, particularly within an aging population, those engaging in increased near-work, and amidst a myopia epidemic among children. Integrating eye care into the healthcare routines of all age groups, from toddlers to seniors, is crucial, says Dr. Martin Spiro, President of the Canadian Association of Optometrists.

Think of an eye exam as a physical for your eyes¦and more

A comprehensive eye examination is the best tool for the early detection of eye disease and several systemic diseases. It is based on the premise that structural change in the eye (often at the microscopic level) manifests itself well before any functional changes and vision loss occur.

Optometrists diagnose, treat, and help prevent diseases and disorders affecting the visual system (the eye and related structures).

They also assist in identifying general health conditions like stroke, cardiovascular diseases, diabetes, hypertension, some cancers, brain injuries, and neurological conditions that are often first detected through a comprehensive eye exam. They provide referrals to specialists and can help manage post-eye-surgery health. From infants to seniors, optometrists provide care to help maintain good vision, eye health and quality of life.

The Canadian Association of Optometrists developed evidence-based guidelines for Recommended Frequency of the Comprehensive Eye Examination and calls on all Canadians to GetEyeWise.

If grownups think their eyes are fine¦then why are they always doing things like this?

The national campaign features children mimicking adults’ faces in daily situations to encourage everyone to GetEyeWise and book an appointment with an optometrist. It will run throughout May on Facebook (NASDAQ:), Instagram, YouTube, TikTok, and Spotify (NYSE:) in both official languages.

Together with the Canadian Association of Optometrists, we are dedicated to raising awareness of the importance of regular eye exams and to helping people see brilliantly, said Vanessa Johari Hansen, Country Business Unit Head, Vision Care, at Alcon Canada. Too often, eye exams are neglected, but through our partnership, we’re determined to enhance vision and improve eye health, recognizing their vital role in overall well-being.”

To find more about the CAO campaign, please visit: https://opto.ca/geteyewise

About the Canadian Association of Optometrists

The Canadian Association of Optometrists (CAO) is the national voice of optometry and is dedicated to providing leadership and support to its 8,300+ members to enhance the delivery of healthy eyes and clear vision for all Canadians. For more information, visit www.opto.ca

About Alcon

Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at www.alcon.ca

About CooperVision

CooperVision, a division of CooperCompanies (NYSE:COO), is one of the world’s leading manufacturers of contact lenses. The company produces a full array of daily disposable, two-week and monthly soft contact lenses that feature advanced materials and optics, and premium rigid gas permeable lenses for orthokeratology and scleral designs. CooperVision has a strong heritage of addressing the toughest vision challenges such as astigmatism, presbyopia, childhood myopia, and highly irregular corneas; and offers the most complete portfolio of spherical, toric and multifocal products available. Through a combination of innovative products and focused practitioner support, the company brings a refreshing perspective to the marketplace, creating real advantages for customers and wearers. For more information, visit https://coopervision.ca

About Sun Pharma

Sun Pharma entered the Canadian market in 2015 with the purchase of Ranbaxy Laboratories Limited, a Top 10 generic company in Canada since 2005. Sun Pharma is a world leader in branded and generic drugs and we are now well positioned to be an even larger contributor to the Canadian healthcare landscape.

With global manufacturing across six continents, we are investing in Canada by bringing high quality, affordable and innovative medicines to market. Our global strength in R&D with an unwavering commitment to quality ensures Sun Pharma will offer a wide range of affordable medicines for Canadians.

Taro Pharmaceuticals is the exclusive distributor of our specialty and generic products in Canada.

We feel the strength of our global Sun Pharma capabilities together with Taro Pharmaceutical’s 30-year commitment to Canadian manufacturing and distribution creates a unique pharmaceutical partner for our Canadian customers. It is our continued goal to provide our customers and partners with high quality products and exceptional customer service.

We look forward to many more years of providing Canadians with high quality and affordable medicines. To learn more, visit: https://sunpharma.com/canada-branded-products/

______
1 Online survey of 2003 Canadians aged 18+ was completed between June 10 and June 21, 2022, using Leger’s online panel conducted on behalf of the Canadian Ophthalmological Society and the Canadian Association of Optometrists.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240501239056/en/

For media inquiries, please contact:
Julie Vanghelder, Director, Communications & Marketing, jvanghelder@opto.ca

Source: Canadian Association of Optometrists