Midday movers: Meta Platforms and Amazon surge

Bernstein 'struggles' to see a catalyst for Tesla (TSLA) stock

Bernstein remains Bearish on Tesla (NASDAQ: TSLA) with an Underperform rating and a 12-month price target on the electric automaker of $150.00 as analysts struggle to see a catalyst for the company.

2023 marked a period of robust yet decelerating growth for the electric vehicle (EV) market globally, with sales of battery electric vehicles (BEVs) experiencing a 35% increase from 6.3 million to 8.2 million units. This growth, however, was notably slower compared to the impressive 65% expansion witnessed in... More

UBS Reviews Apple (AAPL) App Store for January

UBS analyst David Vogt reiterated a Neutral rating and $190.00 price target on Apple (NASDAQ: AAPL).

The analyst comments "Our analysis of Apple's App Store suggests rev in the month of January was up ~5% vs 10% growth Sept-23 through Dec-23 (Source: Sensor... More

Daiwa downgrades Tesla (TSLA) over increased governance concerns

Daiwa Capital Markets downgraded Tesla (NASDAQ: TSLA) to a Neutral rating (From Outperform) and cut their 12-month price target by $50.00 to $195.00 as the firm sees corporate governance concerns aggravating already tough financial conditions in 2024.

Concerns about how Tesla is governed increased after a Delaware judge's ruling questioned the independence of Tesla's Board, leading to the cancellation of CEO Elon Musk's compensation. The Wall Street Journal's... More

Tesla (TSLA) sinks as SAP moves away from EV giant

Tesla's (NASDAQ: TSLA) stock dropped nearly 6% on Monday following reports that German software firm SAP would stop buying electric cars from the company.

Tesla's shares fell to $177.27, the lowest since May 2023, and has traded down 28% this year. The decline accelerated after Tesla projected "notably lower" delivery growth in... More

Global BEV sales reach a new high

Bank of America tracked electric vehicle sales for December and FY 2023 finding in December 2023 that global Battery Electric Vehicle (BEV) sales achieved a record high of 1.1 million units, marking a 19% YoY increase and pushing the penetration rate beyond 14% for the first time.

China experienced a resurgence in BEV sales, rising by 38% YoY in December and 32% in the 4Q. Meanwhile, the EU saw a 20% decline in December due to the phasing out of subsidies the previous... More

Citi's Take on Apple (AAPL) and Hon Hai Jan Revenue Implications

Citi analyst Atif Malik reiterated a Buy rating and $225.00 price target on Apple (NASDAQ: AAPL)

The analyst comments "Hon Hai, ~ 50% Apple sales exposure, reported Jan revenue before the market open with +13% M/M (above 3-year seasonal average of -21%)... More

CIGNA (CI) PT Raised to $360 at Goldman Sachs

Goldman Sachs analyst Nathan Rich raised the price target on CIGNA (NYSE: CI) to $360.00 (from $352.00) while maintaining a Neutral rating.

The analyst comments "CI outperformed (+5.4% on 2/2 vs S&P +1.1%) after reporting 4Q23 EPS 3%/4% above GS/consensus (FactSet), raising its 2024 EPS guidance by ~1% to >$28.25 from >$28.00, and reemphasizing its prioritization of share repurchases as... More

7 Themes to watch in 2024

Goldman Sachs recently released its January update, presenting the "Top Themes" that their analysts believe investors should watch in 2024. Alongside this, the equity research firm made notable changes to its Conviction List, adding Parker Hannifan (NYSE: PH) and Textron (NYSE: TXT) while removing Bath & Body Works (NYSE: BBWI), Boeing (NYSE: BA), Shift4 Payments (NYSE: FOUR), and AIG (NYSE: AIG).

The Conviction List is Goldman Sachs' strategic approach to identifying... More

CFRA Downgrades WW Grainger (GWW) to Strong Sell (earlier)

CFRA downgraded WW Grainger (NYSE: GWW) from Hold to Strong Sell with a price target of $830.00.

For an analyst ratings summary and ratings history on WW Grainger click here. For more ratings news on WW Grainger click here.

Shares of WW Grainger closed at $922.64 yesterday.

Atlassian Corporation (TEAM) PT Raised to $250 at FBN Securities

FBN Securities analyst Shebly Seyrafi raised the price target on Atlassian Corporation (NASDAQ: TEAM) to $250.00 (from $210.00) while maintaining a Outperform rating.

The analyst comments "We retain our Outperform rating on TEAM and raise our PT from $210 to $250 fol l owing... More

Activist investors target change at Tesla (TSLA) following Elon Musk pay ruling

In a recent development, activist investors targeting Tesla's (NASDAQ: TSLA) board for allegedly failing to curb CEO Elon Musk's influence believe a recent court ruling on Musk's $56 billion stock compensation may be the catalyst they need for meaningful reforms.

The pivotal moment arrived with a Delaware judge voiding Musk's record-breaking compensation, signaling... More

U.S. regulators upgrade Tesla (TSLA) power steering probe

U.S. safety regulators have upgraded their probe into Tesla (NASDAQ: TSLA) and are looking more closely into power steering issues in the companys vehicles, taking the next step toward a potential recall.

The National Highway Traffic Safety Administration (NHTSA) announced an investigation covering around 334,000... More

Tesla (TSLA) recalls nearly 2.2M EV's in US

Electric vehicle giant, Tesla Inc. (NASDAQ: TSLA) is recalling nearly 2.2 million EVs in the U.S. due to the size of the font on the vehicles warning lights.

According to the NHTSA release, Tesla's chosen font size for the affected vehicles fails... More