Fed decision, BOJ, Microsoft, Meta Platforms - what's moving markets

BofA Sees 25bps Cut to FFR in September

BofA Sees 25bps Cut to FFR in September

The analyst comments "A start in September appears locked in now. We think a softer-than-expected July employment report on the heels of other soft data like the ISM manufacturing report helps to lock-in a rate cut in September. Hence, we adjust our outlook for monetary policy in favor of more cuts. We now look for the Fed to cut its policy rate by 25bp at the... More

BofA Securities Reiterates Buy Rating on Meta Platforms Inc. (META), 'Top AI play in consumer Internet'

BofA Securities analyst Justin Post reiterated a Buy rating and $563.00 price target on Meta Platforms Inc. (NASDAQ: META).

The analyst comments "We see Meta as the top AI play in consumer Internet given: 1) Leading infrastructure and LLM capabilities w/ Llama 3.1, 2)... More

Carvana (CVNA) PT Raised to $110 at Morgan Stanley

Morgan Stanley analyst Adam Jonas raised the price target on Carvana (NYSE: CVNA) to $110.00 (from $75.00) while maintaining a Underweight rating.

The analyst comments "CVNA deserves a ton of credit for righting the ship and demonstrating strong operating leverage as the company... More

Meta Platforms Inc. (META) PT Raised to $615 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the price target on Meta Platforms Inc. (NASDAQ: META) to $615.00 (from $525.00) while maintaining a Outperform rating.

The analyst comments "Increasing target to $615 (was $525) or 24x '25E EPS a 13%/4% discount to peers/ NASDAQ. Stronger 2Q revenue and 3Q... More

Meta Platforms Inc. (META) PT Raised to $585 at Deutsche Bank

Deutsche Bank analyst Leo Horowitz raised the price target on Meta Platforms Inc. (NASDAQ: META) to $585.00 (from $525.00) while maintaining a Buy rating.

The analyst comments "Of course, AI will be leveraged to accelerate progress across many of these objectives, and therefore CapEx... More

Boeing (BA) PT Raised to $220 at RBC Capital

RBC Capital analyst Ken Herbert raised the price target on Boeing (NYSE: BA) to $220.00 (from $210.00) while maintaining a Outperform rating.

The analyst comments "Boeing (BA) reported largely in-line 2Q24 results, with a FCF usage of ($4.3B) and total segment margins of (4.5%). The defense... More

Carvana (CVNA) PT Raised to $170 at RBC Capital

RBC Capital analyst Brad Erickson raised the price target on Carvana (NYSE: CVNA) to $170.00 (from $130.00) while maintaining a Sector Perform rating.

The analyst comments "As previewed, CVNA delivered another sterling quarter. The company continues to exceed expectations as per unit profitability... More

Carvana (CVNA) PT Raised to $188 at BTIG

BTIG analyst Marvin Fong raised the price target on Carvana (NYSE: CVNA) to $188.00 (from $155.00) while maintaining a Buy rating.

The analyst comments "CVNA handily exceeded high expectations, delivering healthy beats across almost every important metric. Retail units rose 33% y/y to 101,440. The Street was at 95,100 but we believe buy-side expectations were at ~100,000. Where CVNA really surprised was on GPU, particularly front-end margins. Non-GAAP Retail GPU came in at $3,539, up $328 q/q. By comparison, AutoNation (AN, Not Rated), which printed a very well-received quarter on Wednesday, increased front-end used car profit by $165, barely... More

Meta Platforms Inc. (META) PT Raised to $555 at Goldman Sachs

Goldman Sachs analyst Eric Sheridan raised the price target on Meta Platforms Inc. (NASDAQ: META) to $555.00 (from $522.00) while maintaining a Buy rating.

The analyst comments "While debates will likely persist around product transitions and industry platform headwinds in the quarters & years... More

Carvana (CVNA) PT Raised to $185 at JPMorgan

JPMorgan analyst Rajat Gupta raised the price target on Carvana (NYSE: CVNA) to $185.00 (from $155.00) while maintaining a Overweight rating.

The analyst comments "In terms of setup for shares from here, based on our updated estimates, shares are trading at ~17x... More

Etsy (ETSY) PT Lowered to $64 at Stifel

Stifel analyst Mark Kelly lowered the price target on Etsy (NASDAQ: ETSY) to $64.00 (from $65.00) while maintaining a Hold rating.

The analyst comments "Etsy reported a solid 2Q (beat GMS, revs, & EBITDA) and delivered a mixed guide for 3Q (GMS roughly in-line; EBITDA margins... More

Meta Platforms Inc. (META) PT Raised to $590 at Stifel

Stifel analyst Mark Kelley raised the price target on Meta Platforms Inc. (NASDAQ: META) to $590.00 (from $550.00) while maintaining a Buy rating.

The analyst comments "META delivered a solid beat across the board in 2Q (all geos better), with a better 3Q revenue outlook (mdpt.... More

Meta Platforms Inc. (META) PT Raised to $610 at JPMorgan

JPMorgan analyst Doug Anmuth raised the price target on Meta Platforms Inc. (NASDAQ: META) to $610.00 (from $480.00) while maintaining a Overweight rating.

The analyst comments "META shares traded up +7% post-close & we reiterate our Overweight rating, w/the company executing well near-term & we believe investing appropriately in critical L-T initiatives, notably AI. Healthy ad market trends supported strong 2Q results & have carried into 3Q, with/METAs 3Q revenue guide of +13%-20% (+15%-22%... More

Meta Platforms Inc. (META) PT Raised to $550 at Roth/MKM

Roth/MKM analyst Rohit Kulkami raised the price target on Meta Platforms Inc. (NASDAQ: META) to $550.00 (from $510.00) while maintaining a Buy rating.

The analyst comments "META reported an emphatic beat-and-raise earnings report and surprisingly left Op. Expenses outlook unchanged, and unsurprisingly raised 2024 CapEx... More

Meta Platforms Inc. (META) PT Raised to $600 at Evercore ISI

Evercore ISI analyst Mark Mahaney raised the price target on Meta Platforms Inc. (NASDAQ: META) to $600.00 (from $550.00) while maintaining a Outperform rating.

The analyst comments "We reiterate our Outperform rating on META, raising our estimates and our PT from $550 to $600... More

BTIG Reiterates Buy Rating on Etsy (ETSY)

BTIG analyst Marvin Fong reiterated a Buy rating and $78.00 price target on Etsy (NASDAQ: ETSY).

The analyst comments "We view ETSY's quarterly report as "holding serve" with better-than-expected 2Q results and a GMS guidance that was largely in line with expectations. With shares up 10% in the past month, we think these results are good enough for ETSY shares to maintain their recent gains. GMS guidance marks a nice change of pace as ETSY has more frequently than not been guiding the forward quarter below Street expectations. Specifically, ETSY expects 3Q24... More

Microsoft just delivered a validation moment for AI: Wedbush

In a recent note, Wedbush analysts expressed strong confidence in Microsoft's (NASDAQ: MSFT) latest performance, particularly emphasizing the significance of the company's "validation moment for AI."

According to Wedbush, the investor world was keenly awaiting Microsoft's results, and the conference call, coupled with FY25 guidance, did not disappoint.

CEO Satya Nadella and CFO Amy Hood highlighted a robust commercial bookings growth in the June... More

Northland Reiterates Outperform Rating on AMD (AMD)

Northland analyst Gus Richard reiterated an Outperform rating and $175.00 price target on AMD (NASDAQ: AMD).

The analyst comments "AMD beat consensus by $0.01 on revenue upside primarily from AI, reaching revenue of over $1B vs our model of $900M. Client revenue was... More

Stifel Reiterates Buy Rating on AMD (AMD)

Stifel analyst Ruben Roy reiterated a Buy rating and $200.00 price target on AMD (NASDAQ: AMD).

The analyst comments "AMDs results and outlook were modestly above expectations with revenue exceeding the midpoint of management guidance on higher-than-expected data center, client and server processor sales.... More

AMD (AMD) PT Lowered to $180 at Cantor Fitzgerald

Cantor Fitzgerald analyst C.J. Muse lowered the price target on AMD (NASDAQ: AMD) to $180.00 (from $200.00) while maintaining a Overweight rating.

The analyst comments "Amidst investor fears of a slowdown in MI300 demand from Microsoft, AMD offered a better-than-feared report including a modest beat for the June Q, mixed outlook for the September Q (slightly better revs, worse EPS), and, very importantly, raised its outlook for MI300 revenues from >$4B+ to >$4.5B+. Specific to the MI300 and AI outlook, we... More

AMD (AMD) PT Lowered to $156 at Truist Securities

Truist Securities analyst William Stein lowered the price target on AMD (NASDAQ: AMD) to $156.00 (from $162.00) while maintaining a Hold rating.

The analyst comments "Incrementally raising AI GPU guidance. AMD's beat Q2 consensus & guided Q3 mixed. The Datacenter & Client end market upsides will likely predominate... More