Tesla Inc (NASDAQ:TSLA) will hit the $1 trillion market cap threshold in 2024, analysts at Wedbush argued in a note to clients Thursday.
The firm raised its price target to $350 from $310 and reiterated its Outperform rating for Tesla. Shares of the electric car maker rose 0.6% Friday afternoon to $255.94.
Netflix Inc (NASDAQ:NFLX) is positioned to out-muscle its competitors in the ongoing streaming wars, analysts at Wedbush wrote in a note to clients Thursday.
Wedbush kept the streaming giant on its Best Ideas List, reiterating its Outperform rating and $525 price target. Netflix shares rose 0.5% Thursday to $491.61.
Lyft Inc (NASDAQ:LYFT) is expected to provide revised long-term financial targets when it hands down its fourth quarter results, with analysts at Jefferies seeing upside to the rideshare provider’s bookings led by higher pricing.
They forecast fiscal 2024 bookings 3%, or about $470 million, higher than the consensus analyst estimate based on new disclosures on bookings and rides.
Shares in Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) were marked higher in the wake of its 17th major automotive contract for its driver monitoring technology.
The eye-tracking specialist didn’t name the latest customer but said the lifetime value of the new business was US$30 million.
Shares in Poolbeg Pharma PLC (AIM:POLB, OTCQB:POLBF) were marked higher after it unveiled significant progress with its AI-driven programme for the respiratory syncytial virus (RSV).
Using technology, it was able to reduce the timeline for identifying drug candidates to just 10 months. Ordinarily, this discovery phase would take two to four years.
Boeing Co (NYSE:BA) is steadily progressing toward its annual 737 aircraft delivery target, as it is just one delivery away from achieving the lower-end of its full-year target of 375 to 400 737s, according to Bank of America analysts.
In an update to clients, the analysts increased their price objective on Boeing stock to $275 per share from $250 to reflect a "cyclicals re-rating" as the stock market prices in an easing interest rates' environment.
Farfetch Limited (NYSE:FTCH) shareholders will not recover any value from their investments in the company once its $500 million rescue deal with South Korean e-commerce group Coupang is finalized, analysts at UBS have highlighted.
Per the online luxury retailer’s statement on Monday, “Upon consummation of the sale, Farfetch Limited (NYSE:FTCH) expects that holders of its Class A and B ordinary shares and its convertible notes will not recover any of their outstanding investments in Farfetch. Farfetch Limited (NYSE:FTCH) is also expected to be delisted from the NYSE and to be liquidated."
Accenture PLC (NYSE:ACN) reported higher-than-forecast profits for the fiscal first quarter of 2024 but disappointed investors with its weak sales forecast for the current quarter.
The professional services company reported revenue for 1Q, which ended on November 30, 2023, in line with expectations at $16.2 billion, a 3% year-over-year increase.
Adobe Inc (NASDAQ:ADBE) is likely to undertake an expanded share buyback program after it terminated its merger with web design firm Figma, analysts at Jefferies believe.
“The deal termination frees up Adobe’s cash as the deal would have required a $10 billion cash payment, though now offset by the $1 billion termination fee,” the analysts wrote in a note to clients.
Kootenay Silver Inc. (TSX-V:KTN) has enticing upside potential, analysts at Couloir Capital believe as the silver miner advances its projects in Mexico.
In recent weeks Kootenay published an updated resource estimate for the Promontorio project and a maiden resource estimate for the La Negra project which have increased the company’s total resource base.
Structure Therapeutics shares plummeted more than 30% after clinical data for its investigational obesity drug failed to meet expectations.
The company's pill GSBR-1290 is part of a class of weight loss drugs known as glucagon-like peptide 1 (GLP-1) agonists, like Novo Nordisk (NYSE:NVO)'s Wgovy and Ozempic and Eli Lilly and Co (NYSE:LLY)'s Mounjaro and Zepbound.
Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) shares jumped 20% as Ecovelex, a bird repellent developed with partner Corteva Agriscience, was granted temporary approval in Italy for the 2024 growing season.
This marks the first approval for Ecovelex, noted house broker Cavendish, and allows the product to be used in Italy ahead of a full EU approval (applied for in Austria), generating early revenues.
Keywords Studios PLC (AIM:KWS, OTC:KYYWF)’s acquisition of The Multiplayer Group (MPG) from Improbable has caught the attention of City analysts, with Shore Capital Markets reckoning that the 360-strong team could help scale Keywords’ rapidly growing Create division.
Nottingham-based MPG works with some of the world's best-known studios and publishers, including Activision Blizzard, Bethesda, Zenimax, Epic and 2K, thus adding “a wealth of experience in the development of AAA multiplayer games along with analytical services”.
Chariot Ltd (AIM:CHAR, OTC:OIGLF), the energy company, is primed to cash in on the decarbonisation of South Africa’s power sector, analysts at Cavendish believe.
On Monday morning, the group announced it had completed a joint takeover of electricity trading company Etana Energy.