Midday movers: Tesla, Li Auto and CNH Industrial fall; Salesforce rises

JPMorgan on Tesla (TSLA): 'See Risk of Further Negative Earnings Revisions'

April 24, 2024 9:05 AM EDT

JPMorgan analyst Ryan Brinkman reiterated an Underweight rating and $115.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "We see the risk of further negative earnings revisions and continued multiple compression after 1Q24 results tracked softer even than estimates that had recently been... More

Roth/MKM Reiterates $85 PT on Tesla (TSLA), Issues Negative/Cautious Comments on 'Stretched' Valuation

April 24, 2024 6:38 AM EDT

Roth/MKM analyst Craig Irwin reiterated a Neutral rating and $85.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Tesla posted a 1Q24 miss and pulled forward a low-cost vehicle launching before 2H25 to be based on existing vehicle platforms. RoboTaxi unveiled... More

Tesla (TSLA) PT Lowered to $293 at RBC Capital

April 24, 2024 6:32 AM EDT

RBC Capital analyst Tom Narayan lowered the price target on Tesla (NASDAQ: TSLA) to $293.00 (from $294.00) while maintaining a Outperform rating.

The analyst comments "With "Model 2" not only back on track, but accelerated, fears of ''no growth for years'' have... More

Morgan Stanley Re-explains it's $310 Price Target on Tesla (TSLA)

April 24, 2024 6:18 AM EDT

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $310.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Our PT of $310 is comprised of 6 components: (1) $67/share for core Tesla Auto business on 6.1mm units in 2030, 9.0% WACC, 13x 2030 exit EBITDA multiple, exit EBITDA... More

Spotify (SPOT) PT Raised to $400 at Wells Fargo

April 24, 2024 5:40 AM EDT

Wells Fargo analyst Steven Cahall raised the price target on Spotify (NYSE: SPOT) to $400.00 (from $310.00) while maintaining a Overweight rating.

The analyst comments "SPOT beat on Q1 gross and op margin, and guided Q2 margins ahead of Street. The company continues... More

Spotify (SPOT) PT Raised to $370 at BofA Securities

April 24, 2024 5:36 AM EDT

BofA Securities analyst Jessica Reif Ehrlich raised the price target on Spotify (NYSE: SPOT) to $370.00 (from $315.00) while maintaining a Buy rating.

The analyst comments "Spotify reported a solid 1Q as revenue, gross margins, operating income and FCF were above our forecast while... More

Spotify (SPOT) PT Raised to $345 at Macquarie

April 23, 2024 4:08 PM EDT

Macquarie analyst Tim Nollen raised the price target on Spotify (NYSE: SPOT) to $345.00 (from $330.00) while maintaining a Outperform rating.

The analyst comments "Spotify's Q1 results included MAU of 615m, 3m below guidance but still up 19% YoY; premium subs of 239m in line with expectations and up 14%; revenue of 3.6bn in line; and, most... More

Spotify (SPOT) PT Raised to $396 at Rosenblatt

April 23, 2024 4:01 PM EDT

Rosenblatt analyst Barton Crockett raised the price target on Spotify (NYSE: SPOT) to $396.00 (from $315.00) while maintaining a Buy rating.

The analyst comments "Margin-friendly 1Q24 -- Spotify's sales grew 21% constant currency to 3,636 million, a scant 11 above us, and close to rounded guidance for 3.6 billion. Operating income of 168 million was 12 million below guidance, but included 82... More

Spotify (SPOT) PT Raised to $325 at CFRA

April 23, 2024 10:45 AM EDT

CFRA analyst Kenneth Leon raised the price target on Spotify (NYSE: SPOT) to $325.00 (from $242.00) while maintaining a Hold rating.

The analyst comments "We raise our target by $83 to $325 using a forward P/E of 67.0x our '24 earnings estimate, below the five-year... More

Spotify (SPOT) PT Raised to Street High $400 at Pivotal Research

April 23, 2024 9:06 AM EDT

Pivotal Research analyst Jeffrey Wlodarczak raised the price target on Spotify (NYSE: SPOT) to $400.00 (from $390.00) while maintaining a Buy rating.

The analyst comments "Spotify reported a strong 1Q result highlighted by in-line premium MAUs, modestly lower than forecast ad-supported MAUs (on... More

Baird Defends Cardinal Health (CAH): 'Market fears played out, buyers on weakness'

April 23, 2024 6:21 AM EDT

Baird analyst Eric Coldwell reiterated an Outperform rating and $134.00 price target on Cardinal Health (NYSE: CAH).

The analyst comments "Market fears played out, buyers on weakness. We have long posited that CAH could well absorb loss of OptumRx given strong underlying market fundamentals,... More

Bernstein SocGen Group Has 3 Problems with CNH Industrial NV (CNHI) CEO Change

April 23, 2024 6:02 AM EDT

Bernstein SocGen Group analyst Nicholas Green reiterated a Market Perform rating and $13.00 price target on CNH Industrial NV (NYSE: CNHI).

The analyst comments "CNH Industrial has announced CEO Scott Wine will step down effective 1 July 2024. In joining the dots on this surprise announcement, we find three worrying messages for investors. (1) Why leave now? Inconsistencies raise more questions than they answer. Per the company, Wine would not commit to stay for the full term of a new 3-year business plan, and so agreed to step aside in favour of a CEO who would.... More

Evercore ISI Recaps Verizon Communications (VZ) Earnings

April 23, 2024 5:32 AM EDT

Evercore ISI analyst Vijay Jayant reiterated an In Line rating and $42.00 price target on Verizon Communications (NYSE: VZ).

The analyst comments "VZ sold off 4.7% (vs. S&P 500 +0.9%) despite what we viewed as healthy and broadly in line 1Q24 results, encouraging subscriber momentum entering... More

Li Auto Inc. (LI) Mentioned Positively at HSBC

April 23, 2024 5:27 AM EDT

Li Auto Inc. (NASDAQ: LI) Mentioned Positively at HSBC.

"We prefer BYD and Li Auto among OEMs, and Fuyao and Xingyu among auto component suppliers; all rated Buy."

... More

Verizon Communications (VZ) PT Lowered to $40 at Wells Fargo

April 23, 2024 5:08 AM EDT

Wells Fargo analyst Eric Luebchow lowered the price target on Verizon Communications (NYSE: VZ) to $40.00 (from $44.00) while maintaining a Equal Weight rating.

The analyst comments "Consumer sub trends improve, albeit with some "second number" benefit. VZ's -158K consumer postpaid phone... More

Informatica (INFA) PT Lowered to $40 at Wells Fargo

April 23, 2024 5:06 AM EDT

Wells Fargo analyst Andrew Nowinski lowered the price target on Informatica (NYSE: INFA) to $40.00 (from $45.00) while maintaining a Overweight rating.

The analyst comments "Shares are down ~9% (NASDAQ +0.4%) following a press release that the company is not engaged in discussions to be... More

DA Davidson Adds Seven Names to Best of Breed Bison List

April 22, 2024 4:19 PM EDT

DA Davidson Adds Seven Names to Best of Breed Bison List.

The analyst comments "We are adding SNOW, FROG, DDOG, SPSC, MANH, NICE, and CRM to D.A. Davidsons Best-of-Breed Bison (BBB) list. BBB designation is reserved for businesses that are simple to understand, possess attractive economic... More

Morgan Stanley on Li Auto (LI): 'The price cuts are timely...'

April 22, 2024 11:54 AM EDT

Morgan Stanley analyst Tim Hsiao reiterated an Overweight rating and $65.00 price target on Li Auto (NASDAQ: LI).

The analyst comments "The price cuts are timely... On April 22, Li Auto cut prices of its entire model lineup except for the... More

Apple (AAPL) earnings preview: AI, not iPhone, to the rescue?

April 22, 2024 10:00 AM EDT

With Apple (NASDAQ: AAPL) set to report its latest earnings on May 2, analysts at Morgan Stanley, Wells Fargo and Goldman Sachs have provided investors with their thoughts on the release.

Morgan Stanley cut its price target for the iPhone maker's shares to $210 from $220 in a note, maintaining an Overweight rating on the stock. Despite the price target reduction, the investment bank expects Apple to "slightly beat" March quarter expectations driven by stable product demand and... More