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4 big analyst picks: C3.ai upgraded on AI mega-trend

AuthorDavit KirakosyanStock Markets
Published Jun 02, 2023 05:47AM ET
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Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at C3.ai, Chevron, Domino’s Pizza, and The Trade Desk.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

C3.ai upgraded following Q4 earnings, shares plunge on soft guidance

Wedbush upgraded C3.ai (NYSE:AI) to Outperform from Neutral and raised its price target to $50.00 from $24.00 following Q4 earnings, as InvestingPro reported in real time.

While Q4 EPS and revenue came in better than the consensus estimates, the soft outlook disappointed investors. As a result, shares fell more than 13% yesterday.

According to the firm, C3.ai has turned a corner and is ready to now capitalize on the $800 billion AI transformational opportunity over the next decade with use cases increasing across the board. Furthermore, Wedbush noted that the company is in a unique position to help lead the charge and monetize this looking ahead the next 12 to 18 months.

InvestingPro | Always Know First

Chevron earns another upgrade

RBC Capital upgraded Chevron (NYSE:CVX) to Outperform from Sector Perform and raised its price target to $180.00 from $165.00, noting that the PDC Energy (NASDAQ:PDCE) deal re-rates the company's FCF yield higher.

Looking forward, the bank believes the macro environment is likely to remain volatile, however, weaker end product demand and OPEC+ managing the oil market leaves the company’s upstream heavy weighting well-placed.

Earlier this week, JPMorgan upgraded the company to Neutral from Underweight with a price target of $170.00 (from $161.00).

2 more upgrades

Domino’s Pizza (NYSE:DPZ) shares rose more than 2% yesterday after JPMorgan upgraded the company to Overweight from Neutral and raised its price target to $360.00 from $340.00.

Morgan Stanley upgraded The Trade Desk (NASDAQ:TTD) to Overweight from Equalweight with a price target of $90.00, noting that the company is driving and benefiting from growth in CTV and retail media advertising.

As a result, shares closed more than 4% higher yesterday and gained around 3% pre-market today.

Amid an endless firehose of market headlines, jump on the most important ones to fatten your profits: Always be the first to know with InvestingPro.

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4 big analyst picks: C3.ai upgraded on AI mega-trend
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Comments (6)
zombie ZB
zombie ZB Jun 15, 2023 7:45PM ET
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Buy?
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PETER LENK
PETER LENK Jun 02, 2023 8:31AM ET
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hype, recession coming this Fall .
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Ricardo Gomez
Ricardo Gomez Jun 02, 2023 7:59AM ET
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so it is not just a Hype?
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Toan Huynh
Toan Huynh Jun 02, 2023 7:12AM ET
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They predick after the stock run, funny 🤣🤣
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Derick Lim
Derick Lim Jun 02, 2023 6:49AM ET
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Fortune tellers prediction upgrades
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Trumpster Rocks
Trumpster Rocks Jun 02, 2023 6:38AM ET
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Hillarious analyst come out and try and save their lousy investments with fluff and air... what a joke
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