Regenxbio (NASDAQ:RGNX) Inc has one of the most-broad based approaches to adeno-associated virus (AAV)-based gene therapy (GT), utilizing their intellectual property (IP) to develop proprietary in-house programs, partner with large pharma for larger, late-stage indications and outlicensing their technology for economic interest in a number of other programs, Baird Equity Research analysts wrote in a note published on Friday.
The analysts initiated coverage of clinical-stage biotechnology company with an ‘Outperform’ rating and a $42 per share price target, given what they call Regenxbio (NASDAQ:RGNX)’s “down to earth” valuation and multiple ways to win over the next year as AAV sees a resurgence.
Earlier this week, Grizzy Research released a short report on gene therapy company bluebird bio Inc (NASDAQ:BLUE), citing concerns about the company’s addressable market sales and share dilution.
Analysts at Baird aren’t changing their Outperform rating and $10 price target, according to note to clients published Wednesday.
From a sheer numbers perspective, Broadcom Corporation (NASDAQ:AVGO) is one of the most AI-leveraged companies in the semiconductor space, analysts at UBS said as they maintained their ‘Buy’ rating and $925 12-month price target on the company following the release of its second-quarter results.
“The AI feeding frenzy from cloud customers appears to be more than offsetting weakness in AVGO’s enterprise customers so this is removing a big perceived overhang on the stock given recent commentary from major networking OEMs (original equipment manufacturers),” the UBS analysts wrote in a note on Friday.
Rollins Inc has been awarded a ‘Buy’ rating and a 12-month price target of $48 from analysts at UBS as the broker initiated coverage of the pest-control company.
Given the non-discretionary nature of its services, the analysts expect Rollins to maintain resilient growth even into a recession, after it managed to generate positive organic growth during the recessions caused by the global financial crisis and during the COVID-19 pandemic.
“Additionally, we believe tailwinds related to warming temperatures (+2 degree Fahrenheit nationwide over past decade) and demographic movements (7 fastest growing states in 2022 accounting for 100%+ of nationwide population growth all warmer than average) should provide secular tailwinds to pest control demand in the coming years,” the analysts wrote in a note this week.
Regional banks have represented a morass of certainty since the collapses of Silicon Valley Bank, Signature Bank and First Republic. That’s going to bring policy changes, analysts at UBS believe, but investors are more wary of them than need be.
“Large regional bank stocks continue to be discounted to money centers,” the analysts wrote. “...[W]e conclude that what's driving the valuation gap is the market's anticipation of structural pressure on regional bank profitability.”
Estee Lauder Companies Inc (NYSE:EL) (EL) would be wise to move quickly to geographically realign operations and revenues, investing in technology and supply chain to support future growth, Barclays Capital analysts wrote in a note published on Wednesday.
They lowered their target price on EL shares to $210 from $230, while maintaining an ‘Outperform’ rating on the stock, saying the provider of prestige beauty products should “seize the moment”.
The market may not have been impressed with first-quarter earnings from Salesforce.com, Inc. (NYSE:CRM), as a rise in capital expenses overshadowed revenue and earnings beats, but analysts at Wedbush are.
In a note on Thursday, the broker confirmed its ‘Outperform’ rating on the stock and raised its 12-month price target to $240 from $230 “reflecting increased confidence in the name.”
Shanta Gold’s declaration of commercial production at Singida was a textbook commissioning performance, according to house broker Liberum.
Turning the key on a new mine is always a nervous time, added the broker, but Singida has performed with flying colours, delivering commercial production within weeks of first gold pour on 30 March 2023.
C3.ai disappointed investors with its full-year fiscal 2024 revenue outlook, causing its stock to plummet.
The company, which had previously released some fiscal fourth-quarter results in mid-May, predicted a revenue range of $295 million to $320 million for the upcoming fiscal year. However, this fell short of analyst estimates, who anticipated revenue growth of 19% to reach $317 million, according to FactSet.
DocuSign is set to report earnings on June 8, but analysts at UBS aren’t optimistic about the stock’s future.
The firm spoke with three DocuSign customers and one partner in order to asses the company’s demand backdrop. What they found led them to reiterate a Sell rating and lower their price target to $45 from $52.
HP Inc (NYSE:HPQ)’s second-quarter results, reported on Tuesday, may reflect the worst, with limited downside in the near term, UBS said in a note on Wednesday as it maintained a ‘Neutral’ rating on the stock and raised its price target by a dollar to $31.
But while a roughly 29% decline in revenue from its Personal Systems Group (PSG) division should be the cycle trough, analysts at UBS said that is unlikely to sway the debate as a sequential recovery is already expected by the market.
UBS analysts have increased their 12-month target price on shares of Adobe Inc from $370 to $440, saying that after speaking with customers and other checks to gauge the artificial intelligence (AI) impact they conclude that the company’s Firefly AI art generator is likely to end up as a net positive for the software provider.
“In our view much of (the stock’s) out-performance (Adobe shares are up 24% over the last two weeks) has been driven by a reversal of AI concerns (from an “AI loser” to AI being neutral if not a tailwind for Adobe),” the analysts wrote.
Pet retailer Chewy is likely to meet expectations when it reports its 1Q results this week, but a slowdown in consumer discretionary spending could put pressure on its bottom line.
Analysts at UBS are bearish on Chewy’s stock, with expectations of flat active customer growth and contracting adjusted profit estimates contributing to its Sell rating.
Hoka is one of the world's fastest-growing footwear brands, with fourth-quarter 2023 sales jumping 40% year-over-year, brokers at UBS said in a note as they maintained a ‘Buy’ rating on its owner, Deckers Outdoor Corp (NYSE:DECK).
What’s more, they raised their price target for Deckers to $610 from $560, saying the company’s strong outlook for sales and earnings justifies a 20 times price/earnings multiple.
With Best Buy Co Inc (NYSE:BBY)’s first-quarter financial results coming in largely in line with expectations and its outlook unchanged, analysts at UBS believe the company’s stock price will be range bound until sales improve, which would put it in a good position to realize profitability gains.
In a report, the analysts maintained their 12-month target price of $87 a share, with a ‘Neutral’ rating on the stock, believing Best Buy’s shares have a balanced risk reward at current levels.