Midday movers: GameStop, AMC Entertainment rise; Alibaba falls

Alibaba (BABA) PT Raised to $103 at BofA Securities

BofA Securities analyst Joyce Ju raised the price target on Alibaba (NYSE: BABA) to $103.00 (from $99.00) while maintaining a Buy rating.

The analyst comments "FY4Q24 results largely in-line with our est. and consensus, except GAAP Op and Np missing the expectations due to mark-to-market investment loss. Consolidated revs +7% YoY, driven by 4% growth in Taobao Tmall Group (TTG).... More

Home Depot (HD) PT Lowered to $318 at HSBC

HSBC analyst Daniela Bretthauer lowered the price target on Home Depot (NYSE: HD) to $318.00 (from $323.00) while maintaining a Reduce rating.

The analyst comments "We retain our Reduce rating and lower our TP to USD318 from USD 323: We fine-tune our EPS... More

On Holding AG (ONON) PT Raised to $40 at Telsey

Telsey analyst Cristina Fernandez raised the price target on On Holding AG (NYSE: ONON) to $40.00 (from $37.00) while maintaining a Outperform rating.

The analyst comments "On's story remains consistent with higher global brand awareness driving strong DTC growth in 1Q24, expansion with wholesale... More

On Holding AG (ONON) PT Raised to $43 at Evercore ISI

Evercore ISI analyst Michael Binetti raised the price target on On Holding AG (NYSE: ONON) to $43.00 (from $40.00) while maintaining a Outperform rating.

The analyst comments "ONON beat Consensus on both revenues and EBITDA in 1Q. While we expected volatility in 1Q amid some... More

On Holding AG (ONON) PT Raised to $33 at Williams Trading

Williams Trading analyst Sam Poser raised the price target on On Holding AG (NYSE: ONON) to $33.00 (from $26.00) while maintaining a Hold rating.

The analyst comments "Raising estimates and PT following the 1Q24 beat. The outlook for the balance of the... More

On Holding AG (ONON) PT Raised to $41 at Stifel

Stifel analyst Jim Duffy raised the price target on On Holding AG (NYSE: ONON) to $41.00 (from $40.00) while maintaining a Buy rating.

The analyst comments "1Q24 revenue of CHF 508.2mn and adj. EBITDA of CHF 77.4mn beat Stifels estimates for CHF 494.9mn and... More

Plug Power (PLUG) surges on DoE loan guarantee

Plug Power (NASDAQ: PLUG) stock surged Tuesday on news that it has received a conditional commitment for an up to $1.66 billion loan guarantee from the Department of Energy's (DOE) Loan Programs Office.

The loan guarantee is to finance the development, construction, and ownership of up to six green hydrogen production facilities.

"We appreciate the partnership with the DOE Loan Programs Office and are pleased to have worked through... More

Gordon Johnson of GLJ Research Says SunPower (SPWR) Is Set Up As a Short on the Heels of Meme Stock Hubris

GLJ Research analyst Gordon Johnson reiterated a Sell rating and $1.61 price target on SunPower (NASDAQ: SPWR).

The analyst comments "Not only can SPWR not take advantage of the (we believe) irrational move in its stock to shore up its fledgling cash position, but with its inability to provide clean financials at present, anyone buying SPWRs stock on the Roaring Kitty-driven MEME short-covering move... More

On Holding AG (ONON) PT Raised to $40 at Wedbush

Wedbush analyst Tom Nikic raised the price target on On Holding AG (NYSE: ONON) to $40.00 (from $35.00) while maintaining a Outperform rating.