Midday movers: Oracle surges; Boeing falls
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- Wall St futures rise on Mideast deal optimism; SpaceX debut in focus
- SpaceX prices historic IPO at $135/share in largest ever new listing
- 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
- UBS cuts gold price forecasts on delayed Fed easing outlook
- Oil falls to near two-month lows as Trump calls off threatened strikes on Iran
- NASDAQ adds five companies to NASDAQ-100 index in quarterly rebalance
- Adobe CFO Dan Durn to depart company in June 2026
- Oppenheimer Starts SpaceX (SPCX) at Outperform, PT $190, 'space infrastructure appears structurally advantaged'
- Pentagon reportedly locked down, hazmat teams responding
- Wall St set to gain on tech rebound, Middle East in focus
IBM (IBM) PT Raised to $220 at BofA Securities
March 14, 2024 9:16 AM EDTBofA Securities analyst Wamsi Mohan raised the price target on IBM (NYSE: IBM) to $220.00 (from $200.00) while maintaining a Buy rating.
The analyst comments "As part of our View from the Top series, we hosted an investor call with IBM CEO, Arvind Krishna. Portfolio... More
Argus Upgrades Oracle (ORCL) to Buy
March 14, 2024 7:38 AM EDTArgus analyst Joseph Bonner upgraded Oracle (NYSE: ORCL) from Hold to Buy with a price target of $145.00.
The analyst comments "Management sees revenue acceleration into FY25. Oracle reported a 16% increase in non-GAAP EPS on 7% revenue growth in fiscal. We are raising Our... More
On Holding AG (ONON) PT Lowered to $34 at JPMorgan 'we see the 9% sell-off yesterday as overdone'
March 13, 2024 6:26 AM EDTJPMorgan analyst Olivia Townsend lowered the price target on On Holding AG (NYSE: ONON) to $34.00 (from $35.00) while maintaining a Overweight rating.
The analyst comments "While the stock is always volatile, we see the 9% sell-off yesterday as overdone for a few reasons including: 1) We do not anticipate... More
Boeing (BA) PT Lowered to $260 at Wolfe Research, 'How to break a negative news/event cycle'
March 13, 2024 4:28 AM EDTWolfe Research analyst Myles Walton lowered the price target on Boeing (NYSE: BA) to $260.00 (from $270.00) while maintaining a Outperform rating.
The analyst comments "We are Outperform rated on Boeing shares with ~40% upside to our updated price target of $260 (prev $270). BA shares are down 30% on the year which is... More
On Holding AG (ONON) PT Lowered to $37 at Evercore ISI, 'We See Opportunity Looking Beyond the Surface'
March 13, 2024 4:10 AM EDTEvercore ISI analyst Michael Binetti lowered the price target on On Holding AG (NYSE: ONON) to $37.00 (from $40.00) while maintaining a Outperform rating.
The analyst comments "Bottom Line: While ONON offered reassurances in January that 4Q promos were contained, we were disappointed that 4Q... More
On Holding AG (ONON) PT Raised to $36 at TD Cowen, 'EPS Miss is FX Driven'
March 12, 2024 4:25 PM EDTTD Cowen analyst John Kernan raised the price target on On Holding AG (NYSE: ONON) to $36.00 (from $35.00) while maintaining a Outperform rating.
The analyst comments "Q4 Americas sales +19% y/y (+29% ex-FX) was a deceleration vs Q3 and 600bps below our estimate. That,... More
Acadia Pharmaceuticals (ACAD) Stock Selloff Is Over Done Says UBS, 'the level of sell-off is surprising to us'
March 12, 2024 4:07 PM EDTUBS analyst Ashwani Verma lowered the price target on Acadia Pharmaceuticals (NASDAQ: ACAD) to $33.00 (from $35.00) while maintaining a Buy rating.
The analyst comments "NSS opp'y not seen as a major upside driver; Nuplazid long IP offsets NSS ACAD stock is down ~17% intraday... More
Boeing (BA) PT Lowered to $270 at Stifel, 'Orderbook Remains In Good Shape and Deliveries are Pacing Roughly as Expected
March 12, 2024 3:17 PM EDTStifel analyst Bert W. Subin lowered the price target on Boeing (NYSE: BA) to $270.00 (from $280.00) while maintaining a Buy rating.
The analyst comments "February orders and deliveries didn't reveal anything too surprising with 15 orders for aircraft (10 MAXs, 1 777F and 4 787-9s) and 27... More
Jefferies upgrades Carvana (CVNA) on 'more attractive risk-reward'
March 12, 2024 1:23 PM EDTOn Tuesday, Carvana Co. (NYSE: CVNA) received an upgrade from Jefferies to a Hold rating, a shift from its previous Underperform status. The firm also increased its price target on the company's shares to $85, a significant jump from the earlier $30 per share forecast.
The upgrade is attributed to Carvana's recent expansion in Retail Gross Profit per Unit (GPU), which indicates that the company's operational adjustments may have led to sustainable improvements in unit economics. This progress, along with strides toward positive cash flow, has mitigated downside risk and created a more... More
RBC Capital Cautions 'Airbus could be poised to take additional share from Boeing' (BA)
March 12, 2024 1:04 PM EDTRBC Capital analyst Ken Herbert reiterated an Outperform rating and $260.00 price target on Boeing (NYSE: BA).
The analyst comments "Airbus could be poised to take additional share from Boeing, especially if they add pressure to Boeing's customers. As we detailed with Airbus's (AIR-FR)... More
Jefferies on Boeing (BA) Impact: 'LUV intends to reduce capacity and re-optimize schedules primarily in H2:24'
March 12, 2024 10:02 AM EDTJefferies analyst Shelia Kahyaoglu reiterated a Buy rating and $300.00 price target on Boeing (NYSE: BA).
The analyst comments "Preliminary results from the FAA Audit at BA/SPR facilities have been reported (unverified); BA has failed 33 of 89 audits, w/ 97 instances of non-conformance recorded, while SPR failed 7 of 13 audits. Separately, LUV has... More
