Molson Coors Beverage Co (NYSE:TAP) has been downgraded by Bank of America analysts, who also lowered their price target on the beer maker, citing a depending slump in the US beer industry and continued market share erosion.
They lowered their rating to ‘Neutral’ from ‘Buy’ and slashed their price target to $50 from $65. Shares traded hands at about $47 on Friday, down 17% in the year to date.
The race to the $4 trillion market cap milestone is accelerating, with Nvidia Corp (NASDAQ:NVDA, ETR:NVD) and Microsoft Corp (NASDAQ:MSFT) now within striking distance of this historic level.
On Friday afternoon, Nvidia’s market cap was about $3.82 trillion, while Microsoft’s was about $3.7 trillion.
The AI investment cycle remains intact with demand expected to justify the current surge in infrastructure spending into 2026 and beyond, analysts at UBS believe.
The analysts believe the next phase of AI trade will be defined by the ability of demand from model developers, consumers and enterprises to keep pace with aggressive capital expenditures.
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) has launched a new pilot with a North American subsidiary of Mitsubishi Electric, which Stifel views as a positive step in expanding its presence in the region’s automotive safety market.
Certainly, the market appears to agree with the shares rising 10% to 2.95p.
Bank of America has labeled Alphabet Inc (NASDAQ:GOOG) as one of the best-positioned consumer AI companies despite concerns over AI disruption to its core ad business.
“We think fears of AI disruption to GOOGL’s core ad business are overblown,” Bank of America analysts wrote in a note, adding valuation of 11 times EV/EBITDA “provides an attractive entry point.”
Bit Digital Inc (NASDAQ:BTBT) has this week announced a flurry of shifts, which analysts at Noble Capital Markets believe will result in a significant change to the company.
The company outlined a strategic exit from bitcoin mining, a potential IPO of its WhiteFiber subsidiary, and a $150 million equity raise.
Nike Inc (NYSE:NKE, ETR:NKE) shares jumped almost 15% on Friday following the release of a rough fourth quarter report, with significant declines in sales and profits anticipated by investors.
The company’s guidance also reflects near-term headwinds, but marked an improvement from previous trends.