(That is CNBC Professional’s reside protection of Wednesday’s analyst calls and Wall Road chatter. Please refresh each 20-Half-hour to view the most recent posts.) Wednesday’s batch of analyst analysis included bullish calls on a bank card large and a sports activities betting identify. Barclays initiated American Categorical with an chubby score, citing the corporate’s attraction to millennial and Gen Z customers. Morgan Stanley additionally reiterated DraftKings as chubby , noting its bull case was inside attain. Try the most recent calls and chatter under. 5:50 a.m. ET: JPMorgan downgrades Canadian Photo voltaic, says near-term appears ‘much less favorable’ JPMorgan mentioned the short-term outlook for photo voltaic module inventory Canadian Photo voltaic shall be uneven, and it is unclear when shares will begin rising once more. The financial institution downgraded the Canadian Photo voltaic to underweight from impartial in a Wednesday be aware and lowered its worth goal to $22 per share from $32. JPMorgan’s forecast implies roughly 2% upside from Tuesday’s $21.59 shut. Shares have slipped greater than 30% this yr. “Whereas the photo voltaic trade clears channel stock over the approaching quarters in sure markets (Europe, US), we anticipate different areas of the worth chain which have comparatively extra pricing energy (e.g. trackers, inverters) to recuperate before modules, main us to a comparatively much less favorable view in direction of CSIQ near-term,” analyst Mark Strouse mentioned. The analyst added that larger rates of interest might stay a headwind to channel stock in addition to steeper competitors. “Over time, we anticipate CSIQ to proceed to realize market share, however we imagine risk-reward is unfavorable till near-term visibility improves,” he mentioned. — Brian Evans 5:45 a.m. ET: Morgan Stanley reiterates DraftKings as chubby, says bull case attainable Morgan Stanley analyst Stephen Grambling reaffirmed his chubby score on DraftKings a day after the sports activities betting firm held an investor day by which it issued bullish long-term targets. “DKNG’s Investor Day outlined EBITDA targets above consensus, with particulars affirming our extra optimistic view,” Grambling wrote. “Importantly, the outlook was constructed off of a number of assumptions that would show conservative or present flexibility to reinvest: structural maintain, market share, and promos.” The analyst famous that the steering given confirms his bull case for the inventory, which consists of a $70 worth goal. That forecast implies upside of 89%. DraftKings shares have been on fireplace this yr, surging 225%. DKNG YTD mountain DKNG in 2023 — Fred Imbert 5:45 a.m. ET: Barclays initiates American Categorical as purchase, lauds long-term progress outlook American Categorical will discover long-term success as the corporate appeals to millennials and Gen Z, in accordance with Barclays. The financial institution initiated protection of the bank card large with an chubby score and a $184 per share worth goal — which suggests greater than 17% upside from Tuesday’s shut. “We view AXP as the very best card issuer and we’re optimistic on the longer-term progress prospects across the firm’s penetration of the Millennial and Gen Z cohorts,” analyst Terry Ma mentioned. “Bears will argue that income progress has been decelerating and NII is turning into a much bigger contributor to AXP’s algorithm. However income progress has stabilized during the last two quarters and credit score efficiency stays under pre-pandemic ranges.” American Categorical shares have lagged the broader market this yr, rising simply 6.2% versus the S & P 500’s 17% soar. AXP YTD mountain AXP in 2023 — Brian Evans
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American Express Co, Business News, Canadian Solar Inc, Draftkings Inc, Investment strategy, stock markets
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