[ad_1]
(This is CNBC Pro’s live coverage of Friday’s analyst call and Wall Street chatter. Refresh every 20-30 minutes to see the latest posts.) In the initial analyst call, Beauty stocks and insurance names were attracting attention. Goldman Sachs downgraded Estée Lauder’s rating to neutral, and its new price target predicts a slight decline going forward. On a more positive note, Jefferies upgraded its rating on the insurance company route, noting that it expects it to rise more than 24% from current levels. Check out the latest calls and chats below. Always Eastern Time. 6:25 a.m.: Daiwa Capital Markets thinks NVIDIA will rise even higher from here According to Daiwa Capital Markets, NVIDIA’s stock price could rise further if a multi-trillion dollar opportunity arises in the near future. It is said that there is. The firm maintained an outperform rating on the semiconductor maker’s stock, but raised its price target to $900 from $535. This represents a potential 14% upside for Nvidia. Riding the boom in artificial intelligence, NVIDIA stock has given a big boost to his 2024 market rally. The company’s stock price has already risen by 60% in 2024. Analyst Luis Misiocia called his NVIDIA a “big winner” when it comes to AI, citing several factors for the company. A library of AI programming support makes your platform easier to use compared to your competitors. Additionally, the company’s name recognition, developer support, and full-stack solutions are second to none. “Many reports suggest that AMD/Intel GPUs are very powerful, and while they are, it’s not just a silicon issue, it’s a complete solution,” he wrote . “NVIDIA is in the right place at the right time.” But the bigger question centers on how long NVIDIA stock can continue to rise to new heights. But Misiosia expressed optimism that the company could outperform in the long run, especially given the potential multitrillion-dollar opportunity for his Nvidia. “Nvidia’s recognition of significant inference GPU demand bodes well for continued growth,” he wrote. “The basic idea is that due to Moore’s Law, x86 architectures no longer provide significant performance gains. To meet new modern DC processing demand levels, most applications run on GPUs. If there is a migration from x86 to GPU, this is a “trillion” dollar upgrade opportunity. ” — Lisa Kailai Han 6:08 a.m.: Piper Sandler downgrades New York Community Bancorp, admits mistake for not downgrading sooner His latest announcement for New York Community Bancorp is , was the last straw for Piper Sandler. The investment bank downgraded the regional financial institution’s stock from overweight to neutral, citing Thursday’s surprise announcement that the bank would replace its chief executive officer. “Most concerningly, the company has announced that it has identified material weaknesses in its internal controls related to internal loan reviews. As a result, the company cannot expect to deliver 10,000 by the deadline,” analyst Mark Fitzgibbon wrote. New York Community Bancorp shares fell 29% in after-hours trading Thursday, adding to a 53% decline this year. The analyst lowered his price target for the bank to $5 from $8, suggesting the stock could still rise 4%. NYCB 1D Mountain NYCB Drops In a memo, Mr. Fitzgibbon admitted that his previous statements about this name were wrong and overly optimistic. “We fully acknowledge that our call regarding this name was incorrect,” he wrote. “We hesitated to downgrade the stock when the company announced that it was taking some meaningful strategic steps, including building liquidity, cutting its dividend, and building reserves. “We decided it was too late to downgrade the rating, as the stock price had already risen.” In addition to the near-term uncertainty surrounding New York Community Bancorp’s new leadership, Mr. Fitzgibbon also said he is uncertain about the company’s near-term earnings forecast. emphasized. “It is therefore very difficult to assess value,” he wrote. “None of that makes us feel comfortable recommending that investors should buy the stock.” — Lisa Kailai Han 5:51 a.m.: Morgan Stanley rates Flywire equivalent. Morgan Stanley believes it’s time to “take some chips off the table” when it comes to Flywire. The bank lowered its rating on the Global Payments Platform stock from overweight to equal weight. Analyst James Fawcett likes the business in the long term, but believes the company’s current valuation balances the level of risk and reward to justify a downgrade. . Flywheel stock has increased about 23% this year. 2024 FLYW YTD Mountain FLYW was downgraded by raising its price target from $27 to $30. This new target represents an upside of almost 6%. “Given its solid NRR, competitive product advantages, and long adoption runway ahead, FLYW is positioned to continue rapidly gaining share in attractive education segments, healthcare, travel, and “Expansion into new areas such as B2B is likely to support continued revenue growth,” the analysts wrote. Meanwhile, Fawcett warned that he is monitoring a number of aspects of the company, including potential headwinds in Canada, increased competition and possible pressure from the U.S. government on student visas and immigration policy. —Lisa Kai-Lai Han 5:46 a.m.: Goldman Sachs downgrades Estée Lauder, citing near-term headwinds, says Goldman Sachs, investors should not buy Estée Lauder until further notice It is said that the position of the government should be relaxed. The bank downgraded the cosmetics company’s stock from buy to neutral and set a 12-month price target of $145. This means Estée Lauder stock could fall 2.4% from Thursday’s closing price. “We assume neutral until uncertainty surrounding the recovery in travel retail is resolved and cost-cutting efforts begin to bear fruit,” the bank said. A major headwind for the company remains sales pressure overseas, particularly in Asia. Estée Lauder’s path to recovery relies heavily on China, as the Chinese market has traditionally been a driver of growth. “We expect rising income levels and high-end beauty products to account for a larger share of Chinese consumers’ incomes, driving sustained growth going forward,” the bank said. “However, broader macro challenges in the region are likely to put long-term pressure on consumers, which could mean it will take longer for Chinese consumers to catch up with other developed Asian markets. We recognize that within China, Hainan’s global duty-free market is very important.” This is an “attractive long-term opportunity,” the bank said. But on the other hand, growth challenges in developed markets turned out to be “tougher” than expected for Estée Lauder. “EL’s share price performance has not yet shown any signs of meaningful recovery, and a gradual reinvestment in the brand will likely be required going forward,” the bank said, although Goldman believes that Estée Lauder’s He stressed that the company’s extreme cost-cutting measures should boost growth. Estée Lauder’s stock price is up slightly this year He is 2024 EL YTD Mountain EL — Lisa Kailai Han 5:46 am: Jeffries upgrades Root He is root’s recent update, according to Jefferies The company expects the surge to continue. Analyst Yaron Kinner upgraded the insurance company from Neutral to Buy. He also raised his price target on the stock to $40 from $30, implying a 24.6% upside from Thursday’s closing price. Shares rose more than 9% premarket. Shares have risen 291% over the past month after the company reported fourth-quarter results that far exceeded expectations. ROOT Last Month’s Million Mountains ROOT “The company has achieved industry-leading loss rates in the personal auto space for two consecutive quarters, showing significant improvement year-over-year and effectively achieving 65% of its target.” “The significantly improved loss ratio suggests that adding customers is becoming profitable,” Kinnaar said. “Achieving loss ratio targets is particularly important to ROOT as incumbents continue to focus on improving and reducing loss ratios, while ROOT has increased corporate growth ambitions and continues to see significant premium increases. “This presents a substantial growth opportunity to match the anticipated increase in ambient shopping by our customers.” ” — Fred Imbert
[ad_2]
Source link
