Major benchmarks rose on Friday as an encouraging jobs report eclipsed trade-war tensions, even though the U.S. imposed $34 billion in new tariffs on Chinese products this morning.
Still, several individual companies easily outran the broader market. Read on to learn why shares of ManTech International (NASDAQ: MANT), Civeo (NYSE: CVEO), and Deutsche Bank (NYSE: DB) each climbed higher today.
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ManTech gets an upgrade
Shares of ManTech International rose 6.9% after SunTrust Robinson Humphrey analyst Tobey Sommer upgraded the government technology services company from hold to buy. Sommer also increased his firm's per-share price target on ManTech stock from $60 to $66, representing a nearly 20% premium from yesterday's closing price.
To justify his relative bullishness, Sommer argued that ManTech should be able to leverage its "superior positioning to further accelerate market share gains and capitalize on federal budget increases."
With the help of higher-margin materials contracts, he also believes that ManTech will be able to achieve earnings of $2.25 per share next fiscal year, up $0.05 from his previous prediction.
Civeo's new deals
Civeo stock climbed 6.4% following the workforce accommodation services company's announcement that it has been awarded four new conditional contracts.
Civeo will supply accommodations for four locations along the 670-kilometer Coastal GasLink pipeline project in British Columbia, Canada. Together, the four facilities should reach a total peak of over 2,000 rooms, driving revenue of roughly 100 million Canadian dollars for the company from 2019 through 2021. Civeo also anticipates deploying around CA$10 million in capital between the facilities, mostly next year, for maintenance, new service equipment, and modular assets.
"We are pleased to announced these contract awards," added CEO Bradley Dodson, "solidifying our position as the partner of choice for workforce accommodation solutions in Canada."
Rumors swirl around Deutsche Bank
Finally, shares of Deutsche Bank jumped as much as 6% early in the session, settling to close up 3%, after WirtschaftWoche (WiWo) magazine reported that both JPMorgan and Commercial Bank of China are considering investing in the German bank. WiWo also wrote that German Chancellor Angela Merkel had voiced concerns over Deutsch Bank's business during a recent discussion with UBS chairman Axel Weber.
While Commercial Bank of China couldn't be immediately reached for comment, JPMorgan has already denied the claims of its interest. Similarly, a German government spokesman stated that they were "astonished" by the "supposed conversation between the chancellor and Mr. Weber," insisting it's "purely speculative and cannot be confirmed."
Still, with shares of Deutsche Bank trading near all-time lows, most recently after its U.S. branch failed a recent stress test by the Federal Reserve, it would be no surprise to see some healthier banking industry giants weighing whether to opportunistically step in.
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