HAPPY SUNDAY TO THE STREET.
For 6 years, our team of JPMorgan and Blackstone alums has been publishing The Street Sheet, the first step on our mission to transform the stock market.
How? By making institutional-quality equity research accessible to everyday investors. We believe, with more information in your hands, we’ll see a more representative market — with its growth better represented in your portfolio.
Now, we’re ready to take the next step. Something big is coming on September 13. That’s all we can say right now. But if you want to know more, add your name to the waitlist to secure free, early access to our most ambitious project yet.
— Brooks & Cas
‘JOINT’ VENTURE
New Kid on the Block
Shoulder Innovations $SI ( 0.0% ), a recent entrant to the public markets, is getting some bullish backing. Goldman Sachs $GS ( ▼ 0.75% ) just initiated coverage on the shoulder-implant specialist with a Buy rating and a $20 price target, implying nearly 35% upside from Friday’s close.
The stock IPO’d last month at $15 per share and has since slipped about 16%. But Goldman isn’t the only firm to believe a bounceback is coming Jefferies $JEF ( 0.0% ) also started coverage this week with a Buy, while Piper Sandler $PIPR ( ▼ 0.92% ) and Morgan Stanley $MS ( ▲ 0.17% ) launched coverage at Overweight.
To be fair, all four banks participated in the IPO, with Goldman, Piper, and Morgan Stanley acting as joint lead bookrunners. But they had no trouble identifying material causes for optimism either.
Shouldering the Opportunity
In particular, Goldman’s David Roman pointed to the company’s expanding commercial strategy and the broader tailwinds pushing growth in outpatient orthopedic procedures.
Roman believes Shoulder Innovations is poised for a strong revenue ramp, thanks to a mix of industry dynamics and company-specific catalysts. The IPO proceeds would help fund the expansion plan.
The company is also prepping for several product launches, designed to address gaps in its current lineup. According to Roman, these products may come with pricing power due to their innovation and specialization.
On top of that, the shoulder implant market is riding a secular shift toward outpatient procedures, a trend that could make SI’s offering even more appealing to hospitals and ambulatory surgery centers.
Room to Run
Analysts like Roman see valuation upside when comparing SI to other small- and mid-cap MedTech peers. While profitability is still a future goal, Goldman suggests the IPO proceeds may offer enough runway to get there.
The potential combination of sales growth, expanding margins, and tailwinds from procedural trends paints a favorable picture, at least in the eyes of early bulls.
SI may still be flying under the radar for now, but with major firms weighing in and market dynamics in its favor, it may well become hard to ignore.
Sponsored by Pacaso
HOW 433 INVESTORS UNLOCKED 400X RETURN POTENTIAL
Institutional investors back startups to unlock outsized returns. Meanwhile, regular investors have to wait. But not anymore. Thanks to regulatory updates, some companies are doing things differently.
Take Revolut. In 2016, 433 regular people invested an average of $2,730. Today? That’s worth $1+ million, up 89,900%. No wonder thousands are taking the chance on Pacaso.
Founded by a former Zillow exec, Pacaso’s co-ownership tech reshapes the $1.3T vacation home market. They’ve earned $110M+ in gross profit to date, including 41% YoY growth in 2024 alone. They even reserved the Nasdaq ticker PCSO.
The same institutional investors behind Uber, Venmo, and eBay also backed Pacaso.
And you can join them as an early-stage investor for just $2.90/share.
Just don’t wait. Pacaso’s opportunity officially ends September 18.
This is a paid advertisement for Pacaso's Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving the ticker symbol is not a guarantee that the company will go public. Listing on the Nasdaq is subject to approvals. Past performance is not indicative of future results. Comparisons to other companies are for informational purposes only and should not imply similar success.
RALPH LAUREN GETS A SWIFT KICK
Full-Dress Analysis
Taylor Swift and Travis Kelce just gave Ralph Lauren $RL ( ▲ 0.62% ) a marketing gift no agency could buy.
The couple’s engagement photo, posted to Instagram this week, showcased Swift in a striped Ralph Lauren dress and Kelce in the brand’s classic polo. The post racked up 28 million likes and more than two million reshares in less than a day. Naturally, the dress sold out on the company’s website almost immediately.
Jefferies $JEF ( 0.0% ) called it a “mission success” for a company that sells dreams as much as clothing. Analyst Ashley Helgans subsequently reiterated a Buy rating, noting the moment bolsters brand strength and could extend Ralph Lauren’s recent winning streak.
Timing Is Everything
Swift is set to release her next album in October, while Kelce opens the NFL season in early September in the league’s first live broadcast on YouTube. Both events will generate intense global media coverage, which could potentially give Ralph Lauren additional visibility.
The engagement also joins a string of high-profile brand moments for the apparel giant this summer. Its Oak Bluffs campaign highlighted cultural heritage on Martha’s Vineyard, while sponsorships of Wimbledon and the US Open kept the brand courtside with global audiences.
Helgans’ price target of $335 implies about 13% upside from recent levels. The stock has already rallied more than 28% this year, far outpacing the S&P 500.
Consensus Rating: ‘In Vogue’
The Street’s sentiment looks nearly as strong as the Swifties’.
Of 18 analysts covering the stock, 15 rate $RL a Buy or Strong Buy. With sales momentum and cultural buzz aligned, Ralph Lauren is on track for its third straight year of gains.
Of course, trends can fray, and celebrity can fade. But as of now, few brands could ask for better advertising than being stitched into the engagement photos of pop culture’s most-watched couple.
Sponsored by Pacaso
BIG INVESTORS ARE BUYING THIS ‘UNLISTED’ STOCK
When the founder who sold his last company to Zillow for $120M starts a new venture, people notice. That’s why the same VC firms that backed Uber, Venmo, and eBay also invested in Pacaso.
Disrupting the real estate industry once again, Pacaso’s streamlined platform offers co-ownership of premier properties, revamping the $1.3T vacation home market.
And it works. By handing keys to 2,000+ happy homeowners, Pacaso has already made $110M+ in gross profits in their operating history.
Now, after 41% YoY gross profit growth last year alone, they recently reserved the Nasdaq ticker PCSO.
And you can join them as an early-stage investor for just $2.90/share.
Just don’t wait. Pacaso’s opportunity officially ends September 18.
This is a paid advertisement for Pacaso's Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving the ticker symbol is not a guarantee that the company will go public. Listing on the Nasdaq is subject to approvals. Past performance is not indicative of future results. Comparisons to other companies are for informational purposes only and should not imply similar success.
‘NO SHOT? NO PROB’
Policy Shock, Market Yawn
This past week, US Health Secretary Robert F. Kennedy, Jr announced the government will no longer recommend Covid vaccines for healthy children or pregnant people.
On paper, that sounds like a blow to vaccine makers. In practice, they barely flinched.
Street Sentiment Split
Pfizer $PFE ( ▼ 0.58% ), Moderna $MRNA ( ▼ 0.5% ), and Novavax $NVAX ( ▲ 1.06% ) all held steady after the news. BioNTech $BNTX ( ▼ 0.17% ) slipped, but within its normal trading range.
Analysts say investors had already priced in political skepticism and weaker demand. As Leerink’s Daina Graybosch put it: “Investors don’t actually think anything is new.”
Wall Street is hardly throwing in the towel on the sector either. Analysts polled by LSEG maintain Buy ratings on BioNTech and Novavax, while Pfizer and Moderna are stuck at Hold. All four names are down on the year, reflecting mounting policy and demand risks, but consensus price targets still imply rebound potential.
Risk Is in the Air
Traders may be calm, but analysts do see rising headwinds. Demand for Covid shots has already slumped since the pandemic faded. Kennedy’s stance raises further questions about insurance coverage and patient access.
Graybosch warned that the space now carries “one step forward, two steps back” risk under the Trump administration. That could mean more policy headaches than wins.
There’s also chatter about the possibility of vaccines being pulled from the US market altogether — either by regulators or the companies themselves. And even if access remains, tighter insurer rules could erode revenue faster than investors expect.
The outlook isn’t rosy, but it isn’t catastrophic either. For now, pharma stocks appear to be shrugging off the noise — a reminder that in markets, perception often matters more than policy.
LAST WEEK’S POLL RESULTS
Are you bullish or bearish on Newmont Corporation $NEM ( ▲ 0.26% ) over the next 12 months?
▇▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐂 Bullish — “Probably a decent bet for the next year out; but the long term chart has certainly swung in both directions, multiple times.”
🐻 Bearish — “I believe there's a better alternative for $0.023 with zero debt: Asia Broadband $AABB ( ▼ 1.78% ).”
Which category do you think will outperform over the next 12 months?
▇▇▇▇▇▇ Fast-food chains
▇▇▇▇▇▇ Casual eateries
And, in response, you said:
Fast-food chains — “Either everyone is eating at home with their family or trying to expand their wages for occasional ‘eating out’.”
Casual eateries — “Some fast food combos are becoming almost as expensive as a sit-down meal. And then there's Cracker Barrel $CBRL ( ▲ 0.07% )…”
Are you bullish or bearish on FirstCash Holdings $FCFS ( ▲ 0.33% ) over the next 12 months?
▇▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐂 Bullish — “Probably a decent enough buy on a pullback.”
17(b) Disclosure: This message is a paid advertisement for Pacaso. The Street Sheet investor awareness services, including newsletters, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in The Street Sheet publications or presentations, including web content subject to change. The Street Sheet and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time. The Street Sheet is a research service not owned or managed by registered brokers and therefore this site does not make any investment recommendations. The information contained herein is not intended to be used as the basis for investment decisions and should not be construed as advice intended to meet the particular investment needs of any investor. The information contained herein is not a representation or warranty and is not an offer or solicitation of an offer to buy or sell any security. To the fullest extent of the law Tag The Flag LLC dba The Street Sheet our specialists, advisors, and partners will not be liable to any person or entity for the quality, accuracy, completeness, reliability or timeliness of the information provided, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information provided to any person or entity (including but not limited to lost profits, loss of opportunities, trading losses and damages that may result from any inaccuracy or incompleteness of this information). Stock market investing is inherently risky. Tag The Flag LLC dba The Street Sheet is not responsible for any gains or losses that result from the opinions expressed in newsletters, publications or presentations, including web content that it publishes electronically or in print. We strongly encourage all viewers to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov/or the Ontario Securities Commission (“OSC”) at www.osc.gov.on.ca. Pacaso is a client of Dealmaker who has contracted Tag The Flag LLC dba The Street Sheet. Through Dealmaker, Pacaso agreed to pay Tag The Flag LLC dba The Street Sheet a one-time $10,000 in exchange for this advertisement, sent to its subscribers. Programs provided to subscribers and Companies by Tag The Flag LLC dba The Street Sheet are designed to help small-cap companies communicate their investment characteristics. Tag The Flag LLC dba The Street Sheet investor awareness services include newsletters, publications or presentations, including web content.
