By Davit Kirakosyan
Raymond James upgraded Activision Blizzard (NASDAQ:ATVI) to Outperform from Market Perform with a price target of $95.00. According to the analysts, the company’s shares have traded at a persistent discount to Microsoft’s deal price driven by concerns around regulatory bodies blocking the deal and the extended period until the deal close. In the nine months since, however, trends in the core business have improved significantly, making a price drop on a deal break less precipitous for a standalone ATVI share price. Shares were up more than 2% intra-day today.
Loop Capital upgraded Palo Alto Networks (NASDAQ:PANW) to Buy from Hold with a price target of $200.00, noting that its most recent industry checks indicate that the company's enterprise business is showing signs of accelerating momentum driven by an increase in large deal activity. The analysts expect strong Q1 results on Nov 17 driven by a strong contribution from its enterprise business. The analysts also expect the company to at least maintain its previously issued fiscal 2023 guidance despite the macro headwinds that are prompting many security software companies to take a more conservative approach to guidance going forward.
Credit Suisse upgraded SunPower (NASDAQ:SPWR) to Neutral from Underperform with a price target of $17.00 (from $21.00), following the company’s reported Q3 beat on Tuesday. Shares gained 20% intra-day today.
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