Apple Inc (NASDAQ:AAPL, ETR:APC)'s price target has been lowered by Morgan Stanley (NYSE:MS) analysts ahead of its fiscal second quarter 2024 earnings due after the stock market closes on Thursday, May 2.
They reduced their price target from $220 to $210 but repeated their ‘Overweight’ rating on Apple.
Next remains firmly on the buy list at Jefferies after yesterday’s sales update.
Even with atrocious weather so far this year, the 5.7% sales hike was pleasing said the broker even without an upgrade to full-year profit expectations.
i3 Energy PLC has received a forecast update from broker Stifel following the confirmation of the 2024 capital budget.
“Specifically, we have reduced and deferred drilling activity into H2/24, which results in 2024 production within the 18-19,000 [barrels of oil per day] guidance range, albeit towards the top end.
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) has received some good feedback for the latest contract extension for its driver-monitoring technology.
Stifel notes that the extension, until 2023, is worth US$26 million and brings the cumulative initial lifetime value of its automotive programmes to US$392 million.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) today saw a key project milestone the promises to help kick-start field development in Alaska, that’s according to stockbroker WH Ireland.
The company, in a statement this morning, unveiled the latest significant estimate of resources in Alaska, with an independent consultant detailing the Ahpun field specifically.
BT Group PLC (LSE:BT.A) is suffering from a dearth of good news, suggests Deutsche Bank, and its new chief executive has done nothing yet to alleviate the mood.
Full-year results are due on 16 May but don’t hold your breath for a reset of the agenda at the telco, is the German bank’s view.
Amazon.com Inc (NASDAQ:AMZN)'s first-quarter results surpassed expectations at investment bank Jefferies.
The e-commerce giant’s net sales and operating income came in 0.5% and 37% above consensus respectively, “largely driven by outperformance at AWS", noted Jefferies analysts, referring to cloud-computing service Amazon Web Services.
Wickes Group PLC (LSE:WIX) is trading well through a tricky market, according to analysts at Peel Hunt.
Volume growth in the retail business has been offset by falls in Design and Installation, and group like-for-like sales in the first 16 weeks were down 4.2%.
Royal Mail owner International Distributions Services PLC (LSE:IDS) can only be regarded as a 'hold' until the situation regarding the universal service obligation (USO) is sorted out, that's according to stockbroker Peel Hunt.
IDS held a seminar yesterday to discuss its response to Ofcom's USO consultation, in which it said that the regulator understands the need for change.
Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD), the US chipmaker in the unenviable position of competing with Nvidia Corp, beat its first-quarter revenue guidance by $100 million, with top-line sales coming in at $5.5 billion.
But this was a disappointing result, if the market’s reaction is anything to go by- AMD shares traded over 6% lower in Wednesday’s pre-market exchanges.
AJ Bell PLC (LSE:AJB), has received a double upgrade from UBS, which sees the wealth platform as well-positioned to convert its strong performance into share price gains once the market and investor sentiment improves.
UBS said the investment group’s ability to win market share despite being in a cyclically challenged environment puts it in good stead.
GSK PLC (LSE:GSK, NYSE:GSK) is approaching 18-month highs after the pharma group's boss Emma Walmsley raised the full-year outlook on the back of strong first-quarter results, with analysts saying performances are starting to allay long-held concerns.
The shares rose 2.2% to £17.10 on Wednesday morning, within touching distance of the £17.25 highs earlier this year but still some way from pandemic highs towards £19 and all-time peaks above £20 in the dotcom era.
Mr Kipling owner Premier foods (LSE:PFD) is in a positive position to capture some of the US$5 billion cake market in the States, analysts at Deutsche Bank reckon.
In 2020, the food manufacturer reset its international strategy and decided to focus on driving growth through a select number of brands in specific markets.
Endeavour’s announcement that the Sabodala-Massawa BIOX expansion project achieved a first gold pour just two years after construction launch is an important strategic milestone, says broker Stifel.
According to the broker, the mine accounts for roughly a third of NAV and refractory ore represents 41% of reserves, so delivery of the BIOX plant is an important strategic milestone.
UBS has upgraded its financial forecasts for NVIDIA Corp (NASDAQ:NVDA, ETR:NVD) with a rise in revenue and earnings per share (EPS) estimates for calendar year 2025.
The upgraded estimates place NVIDIA's revenue at approximately $175 billion and earnings per share around $41, marking a 20% increase from previous predictions.
Rio Tinto PLC and Glencore PLC (LSE:GLEN) could be eyeing up Anglo American PLC (LSE:AAL) as a potential takeover target following a rejected bid from BHP Group Ltd (LSE:BHP, ASX:BHP), analysts say.
Citing Bloomberg, Jefferies analysts noted the likelihood of other bidders for Anglo-American in a note.
Irn Bru owner AG Barr PLC (LSE:BAG) can expect double-digit profit growth every year from now until 2028, analysts at Deutsche Bank believe.
Adjusted operating profits at the drinks company are expected to rise at a compound annual growth rate of 11% between the current financial year and 2028.
Ariana Resources PLC (AIM:AAU)'s all-paper acquisition of Rockover Holdings offers 'compelling value'.
That, at least, is the conclusion of WH Ireland Capital Markets (WHI), which has taken a closer look at the 'value accretive' transaction.
Supermarket Income REIT PLC's (LSE:SUPR, OTC:SUPIF) first foray into Europe via the €75.3 million purchase of 17 Carrefour stores drew some interesting analysis from the investment community.
"Today's acquisition is in line with the previously announced policy of making income-accretive acquisitions whilst maintaining a robust balance sheet," said American bank Stifel, repeating its 'buy' advice.
Hipgnosis Songs Fund Limited (LSE:SONG)’s accepted takeover bid from Blackstone is an “attractive one for shareholders,” according to analysts, and should prelude further sector activity.
Blackstone’s $1.30 (104p) per share offer was accepted by Hipgnosis’ board on Monday, after trumping a rival bid from Concord, and valuing the company at US$1.57 billion.
Shares in NatWest Group PLC (LSE:NWG) succumbed to some mild profit-taking on Monday, though the mood generally among investors appears to be reasonably upbeat following last week's quarterly results.
RBC Capital tweaked its model to come up with a new price target of 355p, 15p higher than the previous valuation, although it retains its 'sector perform' recommendation.
Wedbush dubbed Elon Musk’s unannounced visit to China “a major moment” for Tesla Inc (NASDAQ:TSLA) and “a key moment” for Musk at a time when Tesla faces unprecedented competition from domestic Chinese EV manufacturers.
Musk met with Premier Li Qiang in Beijing on Sunday and has received tentative approval from government officials to deploy full self-driving (FSD) technology in the country.
Ferro-Alloy Resources revenue in 2023 was in line with estimates, says house broker Liberum, though losses were higher due to supplier and logistical issues.
Key going forward is the feasibility study of the primary vanadium deposit (Balasausqandiq), said Liberum, where the scope has been increased to include evaluation of the proposed Phase 2 expansion of up to 4Mtpa of treated ore, producing 22.4kt of vanadium pentoxide (V2O5).
Dr Martens PLC (LSE:DOCS) shares could drop by more than 13% as it struggles to return to significant revenue growth and make an impact in the US, analysts believe.
Deutsche Bank analysts initiated their coverage of the British shoemaker by rating the stock a “hold” and issuing a target share price of 65p.
Frasers Group PLC (LSE:FRAS) has received backing from Deutsche Bank analysts, who say the Sports Direct owner is going from strength to strength with expansion plans.
“Frasers is progressing with its vision to build the world’s most admired and compelling brand ecosystem,” Deutsche analysts said in a note.
Britain’s big three top banks acquitted themselves pretty well in the quarterly updates last week, according to broker KBW.
Mortgages were an issue for all of Lloyds Natwest and Barclays as lenders battled for market share in a fiercely competitive market.
Shares in Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) are oversold, meaning the mine developer could emerge in the cross-hairs of a bidder, according to research from Optiva Securities.
The risked net asset valuation of the Indonesia-focused mine developer's assets is put at £188.8 million or 7.22p a share, the brokerage said.
Boohoo Group PLC (AIM:BOO) has become a victim of the changing fashion landscape and needs a shake-up to stay relevant, according to Deutsche Bank analysts.
“Boohoo was synonymous with the rise of fast fashion in the UK,” analysts from the bank acknowledged in a note, thanks to offering low-cost goods online at a rapid pace.
Anglo American PLC (LSE:AAL) shares were in demand on Monday after the miner rejected a takeover bid from rival giant BHP Group Ltd (LSE:BHP, ASX:BHP) at the end of last week.
Investors and analysts seem optimistic that this will not be the end of the story, helped by weekend stories via 'sources familiar with the matter' that BHP is mulling an improved offer.