Coinbase Global Inc (NASDAQ:COIN) is on course to materially beat first-quarter consensus estimates after the price of Bitcoin has soared in recent months, Bank of America analysts have predicted.
Citing CoinGecko data, Bank of America highlighted a 100% quarterly increase in transaction volumes, stretching to 107% year over year.
Electric vehicle (EV) demand is likely to remain downtrodden as traditional carmakers enjoy a strong first quarter, Bank of America analysts have said.
“We expect traditional original equipment manufacturers to deliver another solid quarter while pure-play EV manufacturers are more challenged by soft demand,” a note read.
Rolls-Royce, Glencore and Tesco were highlighted among several “whatever the weather” winners that are seen as enjoying multi-year sustainable advantages over rivals and upside to their shares, according to investment bank Jefferies.
Drawing insights across all sector analysts, a list was drawn up of over European stocks that “can generate superior risk-adjusted returns”, with an average 19% upside in 12-month targets and 48% upside in long-view upside cases.
Tesco PLC (LSE:TSCO)'s full-year results were roundly applauded by City brokers today, with analysts from Jefferies, Barclays, and interactive investor highlighting the supermarket chain’s resilient sales and earnings growth
Group revenues grew by 7.4% year on year and retail operating profit by 18.8% to £2.76 billion, thanks to easing inflationary pressures.
Google parent company Alphabet Inc (NASDAQ:GOOG) has earned a repeat ‘Buy’ rating from analysts at the Bank of America after the company’s Cloud division showcased its growing AI hardware and software capabilities at the annual Cloud Next event.
At the event, Google announced new custom AI chips, platform-wide integration of its AI tool Gemini, AI add-ons for Google Workspace, and strategic partnerships, among other updates.
Bank of America analysts have batted off concerns over a recent dip in NVIDIA Corp (NASDAQ:NVDA, ETR:NVD) shares and repeated backing for the chipmaker.
“Volatility is not new,” the bank wrote in a note.
Brokerage firm SP Angel has kicked off coverage of Helix Exploration plc after the helium exploration and drilling group pulled off an oversubscribed, premium-priced AIM debut this week.
Helix raised £7.5 million in the equity raise at a 10p-per-share placing which initially valued the group at £12.2 million.
Investment firm Liberum gave a bullish take on Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF)’s update on the Itumbula West-1 extended well test (EWT).
“Investors will take encouragement that HE1 progresses its operational programme following its recent drilling success,” said Liberum analysts.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) farm-out of its flagship licences offshore Morocco provides key validation of this potentially prolific acreage position, notes house broker Liberum.
It also gives development financing for the Anchois transitional gas field and also has the potential to carry the company to first gas assuming successful drill results.
Futura Medical PLC's (AIM:FUM, OTC:FAMDF) clinically proven, topical gel treatment for erectile dysfunction, Eroxon, offers a "significant and still underappreciated opportunity", said Stifel as it initiated coverage on the stock with a 'buy' rating.
As highlighted in today's results, Eroxon last year received marketing approval in the US, EU and UK and is in the early stages of the commercial launch in the UK and EU with its US launch on the horizon, under a partnership with Advil and Sensodyne maker Haleon.
Thames Water’s problems might end up working in favour of other listed water utilities, according to analysts at UBS.
“We believe that the sector challenges of low returns on existing investments and leverage may work to the benefit of listed stocks which have listed equity vehicles and good operating performance,” it wrote in a note.
Trainline PLC (LSE:TRN)’s rapid growth is set to slow, according to analysts at UBS, but there is still enough potential in Europe to keep the rail ticketing specialist moving forward.
UBS expects to see some slowing in the short term as Britain completes its recovery from Covid, with 8% growth assumed for this year against 23% in the year just ended.
British stocks will pick up momentum and see share prices improve as oil prices tick higher and the overhang from Brexit disperses, Barclays PLC (LSE:BARC) believes.
The UK has missed out on the artificial intelligence-led rally which began late last year, Barclays' boss of European equity strategy Emmanuel Cau noted.