Bank of America analysts have revealed a list of small and mid-cap stocks where they see near- or long-term upside potential that may not be appreciated or well-understood by investors.
The 14 US-listed stocks included are all undergoing significant business transformations and all offer around a 50% implied upside potential to Bank of America’s price objectives (PO).
DocuSign Inc’s comments about a still-tough macro environment, with weakness in enterprise and a deceleration of billings growth in the second half of the year, have soured the opinion of UBS analysts despite the e-signature product provider posting “solid” second-quarter fiscal 2024 financial results.
In a note to clients, they maintained their ‘Sell’ rating on the stock but have raised their 12-month target price on DocuSign shares from $44 to $48.
China will be key to the success of the launch of Apple Inc (NASDAQ:AAPL)'s latest iPhone, the iPhone 15, which is releasing on Tuesday next week, according to analysts at Wedbush.
“On the recent China news over the last few days, we believe, in a worst-case scenario, any China government agency iPhone ban is way overblown. To quantify, it's less than 500,000 iPhones of roughly 45 million we expect to be sold in China over the next 12 months,” the analysts wrote in a note to clients.
Vir Biotechnology Inc has faced a tough year so far, with shares declining by 54% year-to-date.
Much of the company’s underperformance is attributed to unimpressive results from both influenza A and hepatitis B (HBV) trials, Bank of America wrote in a new note.
Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) shares trading around $0.71 offer an “attractive entry point for investors,” analysts at Noble Capital wrote in a note to clients as they maintained an ‘Outperform’ rating and US$2.95 price target on the stock.
The analysts noted that the company has received a provisional patent protecting its proprietary system for lithium extraction that “reflects innovations developed at its lithium extraction facility or pilot plant.”
Analysts at Cantor Fitzgerald have initiated coverage on Atossa Therapeutics Inc (NASDAQ:ATOS) with an ‘Overweight’ rating and a $5 price target on their belief that positive trial data readouts for Atossa's investigational breast cancer drug will drive upward earnings estimate revisions and send the firm's stock higher.
Atossa’s shares traded up on Friday morning, adding 11.5% to US$0.83.
GameStop Corp (NYSE:GME) delivered “more of the same” with no earnings call or strategic update to go along with its quarterly results for the second quarter in a row, according to analysts at Jefferies.
The video game retailer reported better-than-expected revenue and earnings after the closing bell on Wednesday.
Analysts at the Bank of America have initiated coverage on cloud services provider Akamai Technologies, Inc. (NASDAQ:AKAM) with a ‘Buy’ rating on their belief the company has a unique opportunity in the fast-growing Cloud niche of distributed computing.
The analysts also awarded the stock a price objective of US$145, representing an upside of about 38% from Akamai’s share price at the time of writing of US$103.80.
Laurentian Bank Securities analysts were positive on Troilus Gold Corp (TSX:TLG, OTCQX:CHXMF)’s assay results from the final 22 holes drilled at the X22 Zone on its Troilus gold project in Quebec, as drilling continues to demonstrate the continuity of the mineralization, which starts near surface, and the analysts believe there is a tendency for the grade to improve with depth.
In an update to clients, though, they noted the key catalysts for the company’s stock are pending, with the focus now being on the updated mineral resource estimate (MRE), which they believe is imminent and will represent a significant increase over the prior resource estimate given the successful drill campaigns at the Southwest, X22, and Connector zones in 2022-2023.
The expansion of MustGrow Biologics Corp. (TSX-V:MGRO, OTCQB:MGROF)'s postharvest food preservation evaluation agreement with Janssen PMP is further evidence of the efficacy of MustGrow’s biological mustard plant-based technologies and another step on the path to commercialization, according to analysts at Noble Capital Markets.
The two companies on Wednesday announced that the existing agreement to test and develop MustGrow’s biological mustard plant-based technologies for certain postharvest food preservation storage applications will now also include postharvest potatoes and bananas.
As researchers work to test whether Novo Nordisk (NYSE:NVO)'s fat-busting drug Wegovy can also be used as a treatment for dementia and alcohol addiction, some analysts are pointing to a potential "paradigm shift" in the way obesity is treated.
Last week the Danish drugmaker, which is listed in Copenhagen and New York, briefly became Europe’s largest company as investors continued to pile in following the initial data of its 'SELECT' trial of a once-weekly injection of Wegovy.
Anheuser-Busch InBev (NYSE:BUD), the Bud Light and Coors owner, may have faced the worst of its sell-off, having faced strong backlash surrounding an advert with transgender influencer Dylan Mulvaney, analysts believe.
Bud Light lost its crown as America’s number-one beer earlier this year—albeit to fellow AB InBev brand Modelo—and sales of the drink have struggled in August, with weekly volumes dropping by as much as 30%, according to Nielsen data.
ANGLE PLC (AIM:AGL, OTCQX:ANPCY), a specialist in liquid biopsies for cancer detection, is showing early signs of progress despite industry headwinds.
The share price, up 12% in early afternoon trade, reflects the progress outlined in the company's interim results statement.
Volkswagen Group (XETRA:VOW) (VW) may have freshly unveiled its hot new electric vehicle (EV) this week, but UBS has downgraded its rating due to several concerns, including losing its first-mover advantage in EVs and skidding "towards marginalization" in China.
The bank said VW is "highly vulnerable" to the rise of Chinese automakers, having formerly been the number-one manufacturer in the People's Republic and still expecting to generate almost €3 billion operating profit in the country this year, this is about half of what it used to be for the German company.
Analysts at Bank of America have upgraded their rating on medical technologies company Stryker Corporation (NYSE:SYK) to ‘Buy’ on their belief it is likely to be a top-tier performer in 2024.
They also increased their price target on the Kalamazoo, Michigan-based company from US$310 to US$315.
The launch of Huawei’s Mate 60 series phones containing its in-house 5G chip the Kirin 9000S could help the phone maker regain market share from Apple Inc (NASDAQ:AAPL) in China, according to analysts at the Bank of America.
“This launch marks a significant milestone for the company after being cut off from critical supply due to U.S. sanctions in 2019,” the analysts wrote, referring to sanctions that banned American companies from selling software and equipment to Chinese firms.
As the artificial intelligence (AI) revolution plays out, there are 11 U.S. stocks that analysts at Goldman Sachs (NYSE:GS) believe will potentially benefit in the near term, “early winners” who have innovated and invested heavily in the technology and those who are enabling its commercialization.
First, the analysts pointed to the makers of semiconductors and related equipment needed to build AI technology, namely NVIDIA Corporation (NASDAQ:NVDA), Marvell Technology Group Ltd. (NASDAQ:MRVL) and Credo Technology Group.
The US sports betting and iGaming market are on track to top US$30 billion in yearly revenue in the coming years, just five years after the US Supreme Court ruled in favor of sports betting in 2018.
So far, 35 states have regulated some form of sports betting or online gaming activity, most of which is catered for by the 'big three' of sportsbook providers: Draftkings Inc (NASDAQ:DKNG) (Draftkings Inc (NASDAQ:DKNG)); FanDuel, which is owned by Flutter Entertainment PLC (LSE:FLTR); and BetMGM, a joint venture between MGM Resorts International (NSX:MGM) and Entain PLC (LSE:ENT).
In the wake of NVIDIA's (NASDAQ:NVDA) ‘mic drop’ earnings last week, analysts at Wedbush see no end to the bullishness in big tech as, the stockbroker says, a tidal wave of AI-driven spending is on the horizon for the sector over the coming years.
Whether tech stocks can keep going higher is a key debate going into the US Labor day holiday, the California-based broker says in a note, yet it reckons they will “rip higher into year-end”.
Continue: YES / NO? … Please insert coins
Any Gen-Xer to have spent at least an afternoon in a coin-op arcade will be familiar with this frustrating prompt.
In a world increasingly driven by renewable energy and electric vehicles, lithium has emerged as a pivotal commodity. Trident Royalties PLC (AIM:TRR, OTCQX:TDTRF)'s recent acquisition of a lithium royalty from Atherton Resources, over projects owned by Anson Resources in Utah's Paradox Basin, is a testament to this trend. But what does this mean for investors?
Trident has committed to a binding agreement to acquire a 2.5% perpetual royalty from Atherton Resources. This royalty pertains to projects owned by Anson Resources.