Probably the most talked about and market transferring analysis calls round Wall Road at the moment are in a single place. Listed below are at the moment’s analysis calls that buyers must know, as compiled by The Fly.
Prime 5 Upgrades:
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Baird upgraded Micron Know-how (MU) to Outperform from Impartial with a value goal of $150, up from $115. The agency additionally added the shares to its listing of prime semiconductor concepts. Baird sees “significant upside alternatives forward” for Micron.
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Morgan Stanley upgraded Silicon Movement (SIMO) to Obese from Equal Weight with a value goal of $88, up from $59. The corporate has “ample enterprise tailwinds,” together with a bigger backlog and margin growth, together with doubtlessly extra enterprise upside from the unreal intelligence period, the agency tells buyers in a analysis word.
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Evercore ISI upgraded Sensata Applied sciences (ST) to Outperform from In Line with a value goal of $60, up from $44. The corporate is on a path to higher and extra constant execution that ought to assist unlock a number of growth over the following few years, the agency tells buyers in a analysis word.
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Jefferies upgraded Glaukos (GKOS) to Purchase from Maintain with a value goal of $125, up from $84. The agency cites constructive survey takes, which confirmed wholesome physician quantity and use expectations for iDos.
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Morgan Stanley upgraded U.S. Metal (X) to Obese from Equal Weight with a value goal of $48, down from $51. The agency cites anticipated worth creation from the corporate’s “transformational investments” following the current share pullback for the improve.
Prime 5 Downgrades:
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Citi downgraded Peloton (PTON) to Impartial from Purchase with a value goal of $4, down from $8, following the corporate’s administration adjustments and new $200M restructuring plan.
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Morgan Stanley downgraded Victoria’s Secret (VSCO) to Underweight from Equal Weight with a value goal of $15, down from $19. The agency, which anticipates gross sales and margin pushed Q1 EPS draw back, thinks Q1 underperformance comes with a fiscal yr steerage discount that the market is not totally appreciating.
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UBS downgraded Johnson Controls (JCI) to Impartial from Purchase with a value goal of $68, down from $74. The agency sees a troublesome path to the fiscal 2024 steerage and Johnson’s development persevering with to lag friends.
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Citi downgraded Comerica (CMA) to Impartial from Purchase with a value goal of $56, down from $60. The agency’s post-earnings conversations with Comerica’s in-state friends point out deposit combine shift developments are nonetheless elevated and 2024 mortgage development is prone to be restricted.
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Scotiabank downgraded OpenText (OTEX) to Sector Carry out from Outperform with a value goal of $40, down from $5. Whereas the corporate is seeing growing curiosity and dedication in its cloud choices, prospects are taking longer to ramp to full worth, which leads the agency to barely decrease its cloud development assumptions and now mannequin simply slight whole natural development in FY25, the agency instructed buyers.
Prime 5 Initiations:
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MoffettNathanson initiated protection of Flutter Leisure (FLUT) with a Purchase ranking and $240 value goal following current U.S. itemizing. The agency sees a singular alternative to spend money on what it identifies as “the main world on-line sports activities betting and iGaming firm with, most significantly, the #1 place within the U.S., the quickest rising and largest market within the
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Morgan Stanley resumed protection of Warner Music Group (WMG) with an Obese ranking and $43 value goal. The agency says that previously 18 months, the music business has seen “vital constructive developments,” together with value will increase and the adoption of artist-centric fashions which instantly enhance the worth of music and music labels.
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JPMorgan initiated protection of Pacs Group (PACS) with an Obese ranking and $27 value goal. The agency likes the corporate’s enterprise mannequin and development technique, that are centered on buying expert nursing amenities with sub-optimal scientific high quality, occupancy, expert combine, and EBITDA, and driving substantial enchancment throughout these key metrics over a number of years. Citi, Oppenheimer, Truist, RBC Capital, and Stephens additionally began protection of the identify with Purchase-equivalent rankings.
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H.C. Wainwright initiated protection of Jasper Therapeutics (JSPR) with a Purchase ranking and $65 value goal. The corporate’s pipeline consists of IV and subcutaneous formulations for its lead asset, briquilimab, the agency notes, including it believes briquilimab represents a pipeline inside a product.
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Morgan Stanley initiated protection of EHang (EH) with an Obese ranking and $27.50 value goal. Electrical vertical take-off and touchdown demand seems “set to take off,” with rising regulatory and authorities help in China, the agency tells buyers in a analysis word.
