Macy's, Inc. (NYSE:M) already had a Sell rating from analysts at UBS. Now, with the firm expecting worsening macro conditions, the firm is lowering its price target to $12 from $12.75.
“We see 25% downside to our prrice target,” analysts wrote. “We believe macro forces will cause the consumer spending environment to slow and this will negatively impact Macy's earnings. We anticipate weaker-than-expected sales growth and margin compression will cause M to miss Street EPS forecasts, pressuring its stock price.”
Oculis is an “under-the-radar” biotech stock that is off to a strong start thanks to a lead drug candidate that could offer hope for diabetic macular edema (DME), according to Baird.
Analysts are initiating coverage on the European-based company with an Outperform rating and a US$58 price target on the Nasdaq-listed stock.
Tesla Inc (NASDAQ:TSLA)’s “golden electric vehicle (EV) success story” is still in the early days of playing out with customers, wrote Wedbush Securities analysts in a note to clients on Friday, boosting its target price on TSLA stock from $215 per share to $300 and reiterating its ‘Outperform’ rating.
They believe the “sum-of-the-parts story” for Tesla now further comes into play with its supercharger network, energy business, AI driven autonomous path, unmatched battery ecosystem, and increased production scale globally.
Eskay Mining Corp (TSX-V:ESK, OTCQX:ESKYF)’s 2023 exploration program in the Golden Triangle of British Columbia has impressed analysts at Noble Capital Markets thus far.
The firm issued an Outperform rating and US$1.30 price target. Eskay shares traded at US$0.51 Friday morning in New York.
Shares of DocuSign are up Friday morning following the company’s fiscal first-quarter earnings. Among those who came away impressed are analysts are Wedbush, who raised their price target for the company to $67 from $60 and maintained their Neutral rating.
"Last night DocuSign delivered strong Jokic-like FY1Q24 results featuring beats on the top and bottom-line with the company demonstrating continued durability of its core technology moat and leverage in its operating model despite the difficult operating environment,” analysts wrote, referencing the Denver Nuggets two-time MVP currently playing in the NBA Finals.
Amazon.com, Inc (AMZN) shares have room to move higher as Amazon Web Services (AWS) reaccelerates in the fourth quarter as the broader rollout of the company’s Bedrock generative AI product is expected to drive more demand later this year, UBS analysts said in a note published on Wednesday.
As a result, they boosted their target price on Amazon stock to $150 per share from $130, while maintaining a ‘Buy’ rating, acknowledging the company’s valuation has run but with room for further expansion.
The Biden administration may eliminate the electric vehicle (EV) proposal from the final Biofuel quota rule when they present a revised version next week, according to Reuters.
This move, if confirmed, would result in the removal of approximately 1.8 billion D3 Renewable Identification Number (RIN) credits that were expected to be generated by EVs over the next two years.
The upcoming iPhone 15 product cycle could be another “trophy case moment” for Apple Inc (NASDAQ:AAPL), Wedbush Securities analysts wrote in a note to clients on Wednesday, raising their 12-month target price on the stock to $220 per share from $205 with an ‘Outperform’ rating.
Starting this Fall, they believe expected iPhone units and average selling prices (ASPs) could easily surpass current Street expectations heading into next “mini super cycle” release set to play out over the next year.
Choice Hotels International, Inc. (CHH) could be looking to acquire Wyndham Hotels in a deal that would create one of the US’s biggest budget hotel chains, The Wall Street Journal reported on May 23.
While CHH is not commented, analysts at UBS pointed out that it wouldn’t be the first time the group has turned to acquisitions to grow, acquiring about half of the 22 brands it owns today.
Cloudflare Inc’s shares rallied over 70% in May, sending them to around $70.
Analysts at UBS believe the stock may have gotten ahead of itself, as they initiated coverage on the San Francisco-based web content and security platform with a ‘Sell’ rating and a $55 12-month price target.
Campbell Soup Company (NYSE:CPB) is slated to report earnings before the market opens on Wednesday. Analysts at UBS expect a beat, but it might not be enough to heat up the share price.
The analysts maintained their Sell rating and raised the price target to $48 from $47. Campbell’s shares fell nearly 2% Tuesday to $50.58.
Agenus Inc (NASDAQ:AGEN) and its optimized approach on a validated mechanism (CTLA-4) offer a rare investible opportunity in immuno-oncology (IO), wrote Baird Equity Research analysts in a note published on Monday.
They initiated coverage of the clinical-stage biopharmaceutical company focused on developing and commercializing IO therapies with an ‘Outperform’ rating and $8 per share price target.
Amazon.com, Inc is reportedly in talks with major wireless carriers, including Verizon, T-Mobile, Dish Network (NASDAQ:DISH), and AT&T, to offer low-cost or potentially free nationwide mobile phone service to its Prime subscribers in the United States.
According to Bloomberg, the discussions have been ongoing for around two months, and Amazon is considering wireless plans priced at $10 per month or possibly for free.
Pennon Group PLC (LSE:PNN, OTC:PEGRY) and Severn Trent PLC (LSE:SVT) suffered share price target downgrades on Monday in light of a “challenging” backdrop for UK utilities, Deutsche Bank analysts said.
Deutsche lowered Pennon’s share price target from 840p to 780p, up 1.6% on Monday’s close, while Severn Trent’s was slashed from 3,000p to 2,850p, a prospective 4% rise.
Meta Platforms Inc (NASDAQ:FB) has an opportunity to expand its total addressable market with artificial intelligence, according to analysts at Oppenheimer.
The firm reiterated its Outperform rating and raised its price target to $350 from $285. Meta shares traded down 0.2% Monday afternoon at $272.11.
Stantec (TSX:STN) Inc (STN) has seen an “impressive” relative share price performance over the past one to five years, but Stifel GMP analysts believe that while there is a modest amount of room for multiple expansion, the more meaningful value creation tool will need to be M&A.
In a note published on Sunday, they wrote that the sustainable design and engineering company can self finance earnings per share (EPS) growth of 19.8% per annum over the next five years, which results in a net asset value of $149.66 share after contemplating acquisitions.
Chevron Corporation (NYSE:CVX)’s planned acquisition of PDC Energy Inc is another example of the company effectively using its premium multiple to acquire companies, analysts at RBC Capital Market said as they upgraded the stock to ‘Outperform’.
What’s more, it is purchasing a company trading at a materially higher free cash flow (FCF) multiple, driving accretion across key metrics, the analysts wrote in a client note.
Apple CEO Tim Cook will deliver the keynote address at Apple’s annual Worldwide Developer’s Conference (WWDC) in Cupertino on Monday, and analysts at Wedbush are expecting investors to come away impressed.
The firm reiterated its Outperform rating and $205 price target in a note to clients published Sunday.
Tesla Inc’s success in pushing the Model S into the luxury car market is a key example of how new brands can make a name for themselves, according to electric vehicle (EV) rival Lucid Group Inc.
Following a meeting with Lucid’s management, RBC brokers noted that the company felt technology and performance were more important than history and heritage in the luxury car space, as shown by Tesla’s rise.