Midday movers: Carvana and Qualcomm rise; DoorDash, Fastly, Zillow fall
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Morgan Stanley sees nearly 40% downside risk for Carvana stock
May 6, 2024 9:31 AM EDTIn a note Monday, Morgan Stanley analysts maintained an underweight rating on Carvana (NYSE: CVNA) shares, raising the price target to $75 from $45. This suggests a 40% downside risk from current levels.
Throughout 2023, Carvana transitioned from a distressed equity into an operational turnaround with a restructured... More
Parker-Hannifin (PH) PT Raised to $590 at Argus
May 6, 2024 7:21 AM EDTArgus analyst John Eade raised the price target on Parker-Hannifin (NYSE: PH) to $590.00 (from $550.00) while maintaining a Buy rating.
The analyst comments "Our rating on Parker-Hannifin Corp. (NYSE: PH) is BUY. In our view, this well-managed company is on track to achieve its long-term... More
Wayfair (W) PT Raised to $65 at RBC Capital
May 6, 2024 6:39 AM EDTRBC Capital analyst Steven Shemesh raised the price target on Wayfair (NYSE: W) to $65.00 (from $61.00) while maintaining a Sector Perform rating.
The analyst comments "Some noise with gross margin and restructuring charges, but net/net, the quarter was better than we anticipated.... More
Carvana (CVNA) PT Raised to $75 at Morgan Stanley
May 6, 2024 6:06 AM EDTMorgan Stanley analyst Adam Jonas raised the price target on Carvana (NYSE: CVNA) to $75.00 (from $45.00) while maintaining a Underweight rating.
The analyst comments "With CVNA shares reaching $120 following a strong 1Q, we revisit the last time CVNA traded at $100 (April 2022) and assess where... More
William Blair Comments on Wayfair (W)
May 3, 2024 7:12 AM EDTWilliam Blair analyst Phillip Blee reiterated an Outperform rating on Wayfair (NYSE: W).
The analyst comments "During the quarter management emphasized that its taking a measured approach to investing in growth, particularly given the uncertainty around an inflection in the broader market, highlighting three key... More
Regeneron Pharma (REGN) PT Lowered to $1,185 at RBC Capital
May 3, 2024 6:46 AM EDTRBC Capital analyst Brian Abrahams lowered the price target on Regeneron Pharma (NASDAQ: REGN) to $1,185.00 (from $1,189.00) while maintaining a Outperform rating.
The analyst comments "Overall, a reasonably solid quarter, with Eylea HD looking good, Eylea 2mg missing probably to a... More
Moderna (MRNA) PT Raised to $135 at RBC Capital
May 3, 2024 6:45 AM EDTRBC Capital analyst Luca Issi raised the price target on Moderna (NASDAQ: MRNA) to $135.00 (from $125.00) while maintaining a Outperform rating.
The analyst comments "Bottom line was a beat primarily on lower OpEx. Guide was reiterated ($4b revenue and $8.1b costs), and we like... More
Carvana (CVNA) PT Raised to $108 at Deutsche Bank
May 3, 2024 6:26 AM EDTDeutsche Bank analyst Emmanuel Rosner raised the price target on Carvana (NYSE: CVNA) to $108.00 (from $66.00) while maintaining a Hold rating.
The analyst comments "Yesterdays considerable positive stock reaction to Carvanas Q1 print, in our view, reflects market enthusiasm around the companys reiteration of positive momentum heading into rest of year, as it demonstrates... More
Peloton Interactive (PTON) PT Lowered to $3.50 at Goldman Sachs
May 3, 2024 6:02 AM EDTGoldman Sachs analyst Eric Sheridan lowered the price target on Peloton Interactive (NASDAQ: PTON) to $3.50 (from $5.75) while maintaining a Neutral rating.
The analyst comments "Peloton's 3FQ24 earnings report reflected a few key themes: a) a continued overall muted demand environment for the category and dynamics around the companys go-to-market strategy driving near-term subscriber headwinds; b) Peloton... More
Wayfair (W) PT Raised to $67 at Goldman Sachs
May 3, 2024 5:49 AM EDTGoldman Sachs analyst Alexandra Steiger raised the price target on Wayfair (NYSE: W) to $67.00 (from $65.00) while maintaining a Neutral rating.
The analyst comments "In its Q124 earnings report, Wayfair produced a solid revenue beat driven by improving demand starting in late February/March with Adj EBITDA... More
Telsey Comments on Peloton Interactive (PTON)
May 3, 2024 5:44 AM EDTTelsey analyst Dana Telsey reiterated a Market Perform rating and $4.00 price target on Peloton Interactive (NASDAQ: PTON).
The analyst comments "Peloton had two big announcements today in the form of the departure of CEO Barry McCarthy after just over two years in the role and a large $200MM restructuring program that will eliminate 15% of the company's global workforce. These announcements overshadowed a return to positive FCF and better-than-expected adjusted EBITDA in... More
Wayfair (W) PT Raised to $83 at Deutsche Bank
May 3, 2024 5:25 AM EDTDeutsche Bank analyst Lee Horowitz raised the price target on Wayfair (NYSE: W) to $83.00 (from $79.00) while maintaining a Buy rating.
The analyst comments "With Wayfair's most recent cost actions playing through the P&L, consistent confidence in the company's ability to deliver mid-to-high-teens... More
Bernstein SocGen Group Downgrades Peloton Interactive (PTON) to Market Perform
May 3, 2024 5:15 AM EDTBernstein SocGen Group analyst Aneesha Sherman downgraded Peloton Interactive (NASDAQ: PTON) from Outperform to Market Perform with a price target of $3.80.
The analyst comments "The key question in the PTON investment thesis is: can this business ever grow again? New mgmt, cost-cuts... More
Moderna (MRNA) PT Raised to $95 at Morgan Stanley
May 2, 2024 4:14 PM EDTMorgan Stanley analyst Matthew Harrison raised the price target on Moderna (NASDAQ: MRNA) to $95.00 (from $89.00) while maintaining a Equalweight rating.
The analyst comments "Generally in line quarter, looking ahead the next catalysts for the stock are RSV vaccine PDUFA date May 12 (followed... More
