The outlook is improving for the digital sector, including key industry players like Alphabet Inc's (NASDAQ:GOOG)'s Google and Instagram and Facebook owner Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB), according to UBS.
The Swiss bank's Evidence Lab research points to low double-digit growth for 2024, which contrasts with the low single-digit growth rates observed in December.
General Motors (NYSE:GM) is the great hope of the upcoming automobile sector earnings season, with worries about Tesla, Ford and some component suppliers raised by two investment banks on Tuesday.
UBS said it favoured “legacy OEMs” such as GM and Ford (NYSE:F) amid “tough times for suppliers.”
Analysts at the Bank of America have initiated coverage on the social media platform Reddit with a ‘neutral’ rating and a $46 price target.
The analysts wrote in a note to clients that they see big opportunities for the company, which went public in New York Stock Exchange on March 21 at an IPO price of $34, but that they expect volatility to continue.
Learning Technologies showed good cash generation in 2023, according to analysts, though the cautious tone for the current year means numbers are likely to be flat.
LTG said it expects same again revenues (after disposals) but improving underlying profits EBIT.
UBS has warned that investors in companies affected by the FCA probe into motor finance are being sanguine about the likely potential outcomes.
Conversations held by the bank suggest the market is more confident than UBS thinks it should be that potential motor finance claim processing and redress costs are reflected in current valuations.
Peel Hunt analysts have provided a short update on Faron Pharmaceuticals Limited (AIM:FARN) after the AIM-listed company announced plans to meet with the US Food & Drug Administration earlier than planned in the hope of fast-tracking its lead drug bexmarilimab.
Faron’s incoming chief executive Juho Jalkanen has cited this as a key priority.
Phoenix Group Holdings PLC (LSE:PHNX) fell 3% after a 'double-downgrade' from Barclays.
The investment banking arm of the high-street lender moved to 'underweight' on stock in the long-term savings and retirement group with a price target of £5 a share.
Atome has received a punchy share price target of 130p from analysts at Canaccord, which sees the firm as a potential leader in the transition towards electricity-based fertiliser production.
Aim-listed Atome focuses on transforming low-cost electricity into clean, cost-effective, high-value fertiliser using a unique production process that uses electricity, water, and air instead of natural gas, enhancing the cost efficiency, security of supply, and sustainability of its fertiliser products.
Today’s profit warning issued by Dr Martens PLC (LSE:DOCS) for the year ahead was not a surprise, “but the scale of the impact is much greater than feared”, said analysts at Peel Hunt.
The British shoe brand warned that sales will fall dramatically in the year ahead, with US wholesale anticipating a double-digit yearly decline.
Accesso, the ticketing and virtual queuing specialist, trades at a discount to both US SaaS and UK SaaS/IT services peers, says broker Shore Capital something that it sees as unwarranted.
Results for 2023 were ahead of indications while, since the end of the year, the company has culled its lower margin B2C distribution business.
People looking to find cheaper car and house insurance continue to drive revenues higher at Moneysupermarket.com, with interim revenues up by 8% to £115 million.
Insurance revenues rose by 21% with travel 10% ahead while the newly launched SuperSaveClub hit 300,000 members and 10 products.
AstraZeneca PLC (LSE:AZN) has been upgraded by a leading investment bank following guidance on the company's dividend policy and a more positive earnings outlook.
Deutsche Bank has moved to 'hold' from 'sell' on stock in the pharma giant as well as raising its price target by 1,00p to 10,500p.