In our weekly round-up of our top charts and market-moving analyst insights, Amazon’s digital ads are outperforming peers, Newcrest Mining’s gold production should resume growth next year, and Tractor Supply Company is selling a lot of live chickens.
Amazon's Advertising Sales Will Exceed $50B/yr by 2024, Say Analysts
Analysts believe advertising sales at Amazon (AMZN) will exceed $50B/yr and constitute over 8% of total sales by 2024, according to Visible Alpha consensus. Despite a challenging digital advertising environment that has hurt competitors such as Meta (META), Alphabet (GOOGL), and Snap (SNAP), Amazon’s advertising business has benefited from being able to track ad performance better than peers.
Tractor Supply Co. Livestock and Feed Sales Estimates Rise on Higher Demand for Chickens
Tractor Supply Company (TSCO), the largest seller of live chickens in the United States, has seen analysts raise estimates on their livestock and feed sales as the company benefits from elevated poultry demand driven by higher egg prices. Analyst estimates for 2024 livestock and feed sales have been revised higher by over 15% since last year, according to Visible Alpha consensus.
Newcrest Gold Production Expected to Resume Growth Next Year, Say Analysts
Newcrest Mining (NCM) is expected to see gold production resume growth next year after falling for three consecutive years, according to Visible Alpha consensus. Newmont Corporation (NEM), the world’s largest gold mining company, recently proposed a nearly $17B bid to acquire Newcrest.