Bank of America (BoA) analysts have reiterated their ‘Buy’ rating for Amazon.com Inc (NASDAQ:AMZN) on the apparent success of the e-commerce giant’s Big Deal Days sale, which ran from October 10 to 11.
The analysts noted that, according to Amazon, Prime members saved more than $1 billion on hundreds of millions of items during the shopping event, suggesting that value shopping will be a driver this holiday season.
Outset Medical Inc stock was downgraded by BofA Securities analysts to ‘Underperform’ from ‘Buy’, and its price objective was cut to $3 per share from $32, after the medical technology company reported lower-than-expected preliminary third-quarter 2023 revenue and warned of reduced capital spending in 4Q.
"We think the Underperform rating is appropriate as Outset has had multiple execution missteps now and companies without profitability have even less margin of error given there is no real profitability valuation floor," the analysts wrote.
Analysts at the Bank of America (BoA) have reiterated their ‘Buy’ rating for NVIDIA Corporation (NASDAQ:NVDA) after the chipmaker updated its product launch pipeline.
The updated product pipeline shows an accelerated pace of graphics processing unit (GPU) accelerator and switching product launches in the 2023, 2024 and 2025 calendar years; support for x86 and ARM-based computer processing units (CPUs); InfiniBand plus Ethernet switches; handling both generative artificial intelligence (GenAI) training and inference; and support for cloud and enterprise applications, the analysts wrote.
MongoDB Inc (NASDAQ:MDB) has emerged as a leading force in the next-generation database realm, according to Bank of America.
The popular, open-source, document-oriented NoSQL database program is strategically positioned to tap into the $108 billion database market, particularly the rapidly expanding NoSQL unstructured database sector, aiming to wrestle market share from established players like Amazon and Microsoft.
Analysts at the Bank of America (BoA) have initiated coverage on Snowflake with a ‘Neutral’ rating and US$195 price target on their view that the company is well-positioned to capture market share in the $132 billion data management industry with its leading cloud platform.
This is based on Snowflake’s status as a first mover in the cloud, interoperability with the major public clouds, and the fact its platform is capable of running multiple workloads, the analysts wrote in a note to clients.
UK REITs specialising in beds (residential properties) and sheds (industrial and logistics assets) continue to display robust fundamentals, with their assets witnessing a resurgence in valuation, according to recent analysis from Shore Capital Markets.
Researchers noted that this resurgence underscores a notable disparity between stock market values and real-world asset values, highlighting an attractive share price potential in advance of the upcoming reporting season next month.
Some spicy things were said about challenger payment network Wise PLC (LSE:WISE) by Liberum analyst Nick Anderson following Thursday’s second-quarter earnings call.
Wise upped its guidance following the bumper quarter, though not everyone was impressed with the results.
Chinese online retail giant JD.com Inc (NASDAQ:JD) continues to plummet on the Hong Kong Stock Exchange after hitting an all-time low this week after Wall Street turned bearish on the stock.
Amid the market rout, rumours have circulated regarding the arrest of company chairman Richard Liu, though nothing has been confirmed.
Loungers PLC (AIM:LGRS), the owner of Cosy Club and Lounge, could be undervalued, argue analysts, with the hospitality group expected to start to enjoy some tailwinds as it continues its expansion drive.
Boasting a 7.7% jump in like-for-like sales in the first half of the financial year, Loungers said revenues were a fifth greater than pre-pandemic figures, totalling £149.6 million in the period, a trading update revealed today.
Beer is best when deciding which beverage companies to invest in, according to analysts, as brewers face plenty of scope for growth next year.
According to Citigroup, costs should decrease for brewers heading into the new year, thanks to subsiding commodity prices since 2022.
British American Tobacco PLC (LSE:BATS) will challenge the ban on its Vuse Alto vape pens from the US regulator in the courts and is “likely” to be granted a stay, according to analysts.
The US Food and Drug Administration (FDA) last night told the FTSE 100-listed tobacco company to halt sales of six of its flavoured Vuse Alto vape products, including menthol flavour, the most popular e-cigarette in the US and 3% of the group's revenues, following a jump in popularity of the product among underage users.
Mercedes Benz Group AG’s luxury strategy is worth keeping an eye on in spite of the carmaker reporting weaker sales in the third quarter of the year, Citigroup analysts say.
Though top-end sales were down 11% over the three months to September, alongside a 4% fall in overall passenger vehicles, Citi reiterated backing for Mercedes’ luxury push.