Morgan Stanley, UnitedHealth and Bank of America rise premarket; Tesla falls

This is the most important semi stock at the moment, not Nvidia

An analyst at Mizuho said in a research note Thursday that he believes there is one semiconductor chip stock that can turn market sentiment higher or lower quickly.

The firm believes AMD (NASDAQ: AMD) "will be huge for semis and AI basket... More

PNC Financial (PNC) PT Lowered to $162 at Jefferies

Jefferies analyst Ken Usdin lowered the price target on PNC Financial (NYSE: PNC) to $162.00 (from $171.00) while maintaining a Hold rating.

The analyst comments "Tailwinds from fixed-rate asset repricing provide path to outsized NII growth in 2025 compared to peers. Capital markets revenues rebound... More

Wells Fargo on Bank of America (BAC): 'A turn in NII should lead to positive operating leverage...'

Wells Fargo analyst Mike Mayo reiterated an Overweight rating and $44.00 price target on Bank of America (NYSE: BAC).

The analyst comments "Headwinds now closer to tailwinds. BAC now expects NII (which beat) to inflect post 2Q24 given deposit pressure easing, better... More

Morgan Stanley (MS) PT Raised to $109 at Jefferies

Jefferies analyst Daniel Fannon raised the price target on Morgan Stanley (NYSE: MS) to $109.00 (from $107.00) while maintaining a Buy rating.

The analyst comments "Post 1Q24 results, we increase our EPS est's for 2Q24/2024 to $1.74/$7.25 from $1.59/$6.50 previously. Positive revisions reflect continued strength in IB... More

Bank of America (BAC) PT Raised to $37 at BMO Capital

BMO Capital analyst James Fotheringham raised the price target on Bank of America (NYSE: BAC) to $37.00 (from $36.00) while maintaining a Market Perform rating.

The analyst comments "Following BAC's 1Q24 top-line beat, we raise estimates by +3%; higher than previously modeled non-interest income (ECM, advisory,... More

UnitedHealth Group (UNH) PT Lowered to $555 at RBC Capital

RBC Capital analyst Ben Hendrix lowered the price target on UnitedHealth Group (NYSE: UNH) to $555.00 (from $596.00) while maintaining a Outperform rating.

The analyst comments "While we are pleased to see some recovery in UNH shares on a betterthan-feared first quarter print and... More

Johnson & Johnson (JNJ) PT Lowered to $175 at RBC Capital

RBC Capital analyst Shagun Singh lowered the price target on Johnson & Johnson (NYSE: JNJ) to $175.00 (from $181.00) while maintaining a Outperform rating.

The analyst comments "JNJ's stock traded modestly lower post-Q1'24, where it delivered inline sales and EPS beat. JNJ tightened FY24 operational guidance... More

UnitedHealth Group (UNH) PT Raised to $571 at Piper Sandler

Piper Sandler analyst Jessica Tassan raised the price target on UnitedHealth Group (NYSE: UNH) to $571.00 (from $566.00) while maintaining a Overweight rating.

The analyst comments "After a challenging CY23, UHC enters CY24 with restrained growth, balanced benefit design, deliberate care delivery and... More

Bank of New York Mellon (BK) PT Raised to $66 at BofA Securities

BofA Securities analyst Ebrahim Poonawala raised the price target on Bank of New York Mellon (NYSE: BK) to $66.00 (from $64.00) while maintaining a Buy rating.

The analyst comments "BNY Mellon (BK) shares outperformed trust bank peers after reporting better-than-expected 1Q24 core EPS $1.29 vs $1.21/$1.18 BofAe/consensus... More

Johnson & Johnson (JNJ) PT Lowered to $170 at BofA Securities

BofA Securities analyst Geoff Meacham lowered the price target on Johnson & Johnson (NYSE: JNJ) to $170.00 (from $180.00) while maintaining a Neutral rating.

The analyst comments "JNJ shares traded down today (-2.0%; DRG -0.3%) despite a solid 1Q and reported guidance midpoint unchanged, which we suspect was due to disappointing Carvykti sales (-1% q/q) and Vision business (-3% y/y).... More

PNC Financial (PNC) PT Lowered to $175 at Evercore ISI

Evercore ISI analyst John Pancari lowered the price target on PNC Financial (NYSE: PNC) to $175.00 (from $184.00) while maintaining a Outperform rating.

The analyst comments "Coming out of PNCs 1Q24 results, we are revising our 2024 EPS to $12.42 from $12.19. Our 2025 EPS is unchanged at $14.48. Our 2024 EPS revision of $0.23/share reflects the $0.34/share 1Q24 beat, tempered by a modest negative revision to our 2Q-4Q24 PPNR outlook (mainly fees). Our NII forecast remains near the mid-point of FY24 guidance of down 4-5%... More

Bank of New York Mellon (BK) PT Raised to $63 at CFRA

CFRA analyst Kenneth Leon raised the price target on Bank of New York Mellon (NYSE: BK) to $63.00 (from $58.00) while maintaining a Buy rating.

The analyst comments "We think BK is delivering improved results with a sharpened strategy from a new CEO... More

Deutsche Bank preview earnings season for top auto stocks

In a note Tuesday, analysts at Deutsche Bank previewed first-quarter earnings season for US autos and auto technology stocks, highlighting General Motors (NYSE: GM) as a potential source of Q1 and FY24 upside.

The bank's view of GM is in light of the company's... More

Morgan Stanley (MS) PT Raised to $108 at CFRA

CFRA analyst Ken Leon raised the price target on Morgan Stanley (NYSE: MS) to $108.00 (from $97.00) while maintaining a Buy rating.

The analyst comments "
MS stands to significantly benefit from the early stage recovery in investment banking and asset management. We... More

Evercore ISI starts 'accelerating AI play' AMD (AMD) at Outperform

(Updated - April 16, 2024 9:09 AM EDT)

On Monday, Evercore ISI initiated coverage on AMD (NASDAQ: AMD), assigning an Outperform rating with a $200 price target. The firm highlighted AMD's advantageous position in the evolving computing landscape, particularly in server central processing units (CPUs) and its MI300 series accelerators.

According to Evercore ISI, AMD is poised to benefit from the significant shift towards parallel processing.... More