Viatris Inc’s lack of discernable catalysts and greater downside risk is likely to weigh on the company's share price, according to Bank of America analysts.
In an update to clients, they downgraded Viatris to ‘Underperform’ and lowered their price objective on the stock to $9 per share from $13 on concerns over the company’s 2024 outlook.
Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOG), Amazon.com Inc (NASDAQ:AMZN), and Meta Platforms Inc (NASDAQ:FB) will release earnings this week, with the Street's focus expected to be on what the enterprise spending trajectory looks like on the cloud in a "choppy" macro environment.
In an update to clients, Wedbush analysts noted that Microsoft is a "major bellwether" for cloud spending and especially the appetite for generative AI spending among chief investment officers, with Wedbush analysts expecting the company's all-important Azure revenue growth to exceed Microsoft’s own guidance based on their positive checks in the field.
Entain, the owner of Ladbrokes and Coral, as well as other gambling companies have experienced steep share price falls in the last few months but analysts at Exane believe the “negative moves are mostly overdone.”
Shares in Entain have slipped close to 33% since August, while Flutter, owner of Paddy Power and Sky Bet, has dropped around 15% in the same period.
Tullow Oil PLC (LSE:TLW) has come into favour among Jefferies analysts on the back of high commodity prices and growing production prospects.
In a research note, Jefferies pointed to improving production at Tullow’s Jubilee field offshore Ghana as key in its decision to upgrade the firm’s rating from ‘underperform’ to ‘hold’.
Sirius Real Estate's continued receipt of a BBB rating from agency Fitch is encouraging especially in the current environment, says broker Berenberg.
Fitch acknowledged the LFL rental growth for 2023 of 7.3% in Sirius’s German portfolio (80% of the total) and 8.5% in the UK and highlighted that current rental levels remain affordable for the company’s diversified tenant base, particularly for small and medium enterprises (SMEs).
Rentokil Initial PLC (LSE:RTO) continues to slip following last week’s profit warning, but two brokers believe that at these levels the shares have fallen far enough.
Barclays is a fan, reiterating a 'buy' rating and 700p price target, stating that its long-term view hasn’t changed.
BATM Advanced Communications Ltd (LSE:BVC) is taking good strides forward as evidenced by today’s investment in ADOR Diagnostics, according to house broker Shore Capital.
Ador is a molecular diagnostics company developing the disruptive NATlab molecular biology platform, notes the broker.
AFC Energy PLC (AIM:AFC, OTC:AFGYF) has potentially developed a world-leading ammonia cracking technology, according to analysts following the company.
In an independent test conducted by the UK's National Physical Laboratory (NPL), it produced an impressive 99.99% pure hydrogen.
Cavendish has reiterated a target price of 285p for Destiny Pharma PLC (AIM:DEST, OTC:DTTYF) - representing a significant premium to the current valuation of 55p.
In a short note, the corporate broker hinted at a potential re-assessment of this target if the company materialises a strategic partnership deal.
Shanta Gold Ltd (AIM:SHG, OTC:SAAGF)’s strong run of form is continuing, says house broker Liberum, with both of its operating mines in Tanzania delivering above expectations in its latest quarter.
Guidance for the year to end December 2023 was reiterated at 90-98,000oz of gold production, but Liberum expects the company to come in just over the top of that.