bluebird bio Inc (NASDAQ:BLUE) shares shed more than 11% on Friday after the Massachusetts-based biotech company developing gene therapies for severe genetic diseases was downgraded by Bank of America analysts.
The analysts downgraded the company to ‘Neutral’ and lowered their price target to $0.50 from $3 on their belief its key product launch, Lyfgenia for sick cell disease (SCD), will ramp slower and achieve lower peak revenue.
Africa Oil Corp (TSX:AOI) valuation is seen substantially higher over at Stifel, with the stockbroker repeating a ‘Buy’ recommendation following this week’s financial update.
The Toronto-listed oil firm, which is in the process of consolidating ownership of its Nigerian operations, this week told investors it had recorded improved production and cash flow in its third quarter – seeing 17,900 boepd and $68.2 million respectively.
Panmure Liberum reiterated its 'buy' recommendation and 70p a share price target for stock in Ilika PLC (AIM:IKA, OTCQX:ILIKF), the producer of next-gen solid-state batteries.
That valuation is a significant premium to the current price of 14.95p and reflects the broker's confidence in the story.
Cisco Systems Inc (NASDAQ:CSCO, ETR:CIS) saw better-than-expected performance in the first quarter, according to analysts at Bank of England.
Although the software conglomerate reported a revenue decline of 5.6%, this was a better outcome than the 6.1% drop anticipated by BoE.
Bank of America has reiterated its ‘buy’ rating on Walt Disney Co (NYSE:DIS, ETR:WDP) shares following the entertainment conglomerate’s fourth-quarter results.
Adjusted earnings per share of $1.14 exceeded BoA’s forecasts, as did the company’s guidance for the year ahead.
Bank of America has downgraded its third-quarter sales forecast for Target Corp (NYSE:TGT) ahead of the retail giant’s third-quarter earnings.
BoE previously anticipated 2% year-on-year sales growth, but analysts now expect to see no top-line growth for the quarter.
atai Life Sciences (NASDAQ:ATAI, ETR:9VC) shares should move higher on a slew of Phase 2 and 3 data readouts in 2025 from across its pipeline of innovative psychedelic therapies, analysts at Jefferies.
Following the release of atai’s third quarter results earlier this week, the analysts repeated their ‘Buy’ rating on the stock and awarded it a $5 price target, implying upside of 242% from its share price at the time of writing.
Analysts at UBS are forecasting a potential rally in US stocks as the year draws to a close, driven by seasonal trends and strong investor confidence. However, they caution that the rally might not be smooth, as there is a risk of sudden price spikes that could cause unexpected market swings.
UBS’s latest report points to several positive indicators supporting a rise in stock prices, including typical year-end patterns, upbeat sentiment in the options market, and signals from UBS's own investment models. Taken together, these factors suggest that stock prices could "grind higher" in a steady but modest rally. Yet, the analysts warn that if prices climb too quickly, it could lead to a sharp jump in market volatility—measured by the VIX index, often referred to as Wall Street's "fear gauge."
Rivian Automotive Inc (NASDAQ:RIVN)’s expanded joint venture with Volkswagen will see a further $800 million pumped into the Tesla Inc (NASDAQ:TSLA) rival, but analysts at UBS have voiced concerns that Rivian “is helping a direct competitor” with the tie-up.
While the $5.8 billion total funding injection will provide a substantial safety net for loss-making Rivian’s finances, the electric vehicle manufacturer's technology-sharing agreements with VW will need to be prudely managed.
Cava delivered another impressive beat for the third quarter, sending shares of the Mediterranean restaurant chain higher and prompting Jefferies to boost its price target on the stock.
Analysts raised their price target to $195 from $117 and awarded it a ‘Buy’ rating.
A decision on the water utilities price regime for the next five years from regulator Ofwat is due on 19 December and UBS expects the upshot to be dividend cuts.
In the case of South West Water owner Pennon Group PLC (LSE:PNN, OTC:PEGRY), UBS sees this as nailed on though it's less certain for United Utilities Group PLC (LSE:UU.) and Severn Trent PLC (LSE:SVT).
In a widely expected yet nonetheless supremely unconventional move from a supremely unconventional president-elect, Donald Trump has created a new non-governmental department custom fit for the world’s richest man turned Trump surrogate Elon Musk.
Musk will share his duties at Tesla Inc (NASDAQ:TSLA), SpaceX, xAI and Twitter/X with a new role as co-head of the Department of Governmental Efficiency (DOGE), alongside biotech billionaire Vivek Ramaswamy.
President-elect Donald Trump’s promise that Robert F Kennedy Junior (RFK Jr) will take on a “big role” in shaping health policy could be a positive for psychedelics given RFK Jr’s well-documented support of this drug class, analysts at Jefferies believe.
“RFK Jr seems positively inclined and sounds motivated to help foster psychedelic drug development,” analysts wrote in a note, highlighting that psychedelics have reportedly helped his family and friends recover from trauma, severe depression and obsessive-compulsive disorder.
Bank of America analysts have upgraded their rating on iHeartMedia (NASDAQ:IHRT) after the media and radio company announced an agreement to restructure its outstanding debt.
The company last week revealed it has entered into a transaction support agreement with a group of debt holders to refinance at least 80% of its outstanding term loan and notes to extend maturities by three years.
Recent trial failures over at pharma giant AbbVie Inc have created a window of opportunity for competitor Bristol-Myers Squibb Co (NYSE:BMY, ETR:RM, OTC:BMYMP), is analysts at UBS are to be believed.
AbbVie stock took a $38 billion hit on Monday after the company revealed that Phase 2 trials of its emraclidine schizophrenia treatment have failed to meet their primary endpoint objectives.
All all-time high market valuation has not dissuaded Bank of America (BoA) from maintaining a ‘buy’ rating on Walmart Inc (NYSE:WMT, ETR:WMT) ahead of the retail giant’s third-quarter results.
BoA expects adjusted earnings per share (EPS) of $0.52 and a 3.5% increase in comparable US sales for the quarter.
GSK PLC (LSE:GSK, NYSE:GSK) looks undervalued, but the problem is that there is nothing on the horizon to change that perception according to analysts at US bank Jefferies.
Downgrading its investment rating to 'hold', Jefferies said that the spate of good news - favourable Zantac settlement, robust performance of Specialty, and pipeline successes – has been swamped by concerns about vaccines Shingrix (Shingles) and Arexvy (RSV).
Bumble Inc (NASDAQ:BMBL) shares soared more than 10% after the online dating platform posted third quarter revenue and earnings above Street estimates and maintained its full-year guidance.
Revenue of $273.6 million topped estimates of $271.7 million while earnings before interest, taxes, depreciation and amortization (EBITDA) of $82.6 million topped estimates of $78.8 million, attributed by Bank of America analysts to operation expenses (OPEX) efficiencies.
All eyes are on DLP Resources Inc (TSX-V:DLP, OTCQB:DLPRF), the TSX Venture Exchange-listed junior with its growing mineral assets and upcoming resource estimates.
So says Fundamental Research, which initiated coverage of stock in the ambitious exploration group with a 'Buy' recommendation and 'fair value' estimate of $0.56 - more than double the current share price.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) has been tipped as a ‘buy’ as it confirmed a successful result in its latest horizontal well, CNB HZ-6.
Zeus Capital, in a note, repeated its recommendation and highlighted a price target of 48.8p, suggesting the dual-listed firm’s value could double from the current price of 24.05p.
Wedbush has upgraded Pinterest Inc (NYSE:PINS) to an ‘outperform’ rating from ‘neutral’ with a 12-month share price target of $38.
“We think the company is executing well against its user engagement and monetization strategies and remains on pace to deliver growth and profits in line with its multi-year guidance framework,” said analysts.
Target Corp (NYSE:TGT) is expected to post lower-than-expected sales in its upcoming third-quarter earnings report, according to Citi analysts.
Citi projects comparable sales growth at 1%, compared to the market’s 1.6% expectation.
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) has reported a surge in demand for its technology with over 2.6 million vehicles across eight automotive programmes now equipped with its driver monitoring systems (DMS).
This figure represents a 100% increase from the same period last year - and was achieved against a tough backdrop for the automotive industry.
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) posted a robust set of user numbers for its driver monitoring system (DMS) despite the difficult automotive market, according to Stifel.
DMS production volumes reached 405,669 units in the financial first quarter, an 83% rise from the prior year. The American investment bank said, annualised, the figure could hit 1.9 million new units.