Please try another search
© Reuters
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades for Meta, Charles Schwab, Albemarle, and Gilead Sciences.
InvestingPro subscribers got this news before anyone else. Start your 7-day trial to get on board.
Loop Capital upgraded Meta Platforms (NASDAQ:META) to Buy from Hold with a Street high price target of $320.00, as InvestingPro reported in real time.
While noting that shares are up 44% year-to-date on expense reductions, the firm said its upgrade move is underpinned by an increasingly positive stance on the revenue picture, with three headwinds to revenue cycling through and setting up to become tailwinds: Apple ad tracking changes, foreign exchange and transition to Reels.
Shares gained more than 2% yesterday.
Charles Schwab (NYSE:SCHW) shares rose more than 4% yesterday after Raymond James upgraded the company to Outperform from Market Perform, establishing a $63 target price.
According to the firm, recent data suggests that client cash sorting at Schwab is tapering, which should stabilize the balance sheet and net interest margin in the second half of 2023.
Although stricter regulations may pose a challenge, the firm believes the impact on Schwab's earnings power will be relatively limited. While elevated cash sorting highlights the interest rate risk in their business model, Schwab has low credit risk and a strong growth story, unaffected by recent macro events. Raymond James anticipates potential P/E multiple re-rating once EPS estimates stabilize.
Baird upgraded Albemarle (NYSE:ALB) to Outperform from Neutral and raised its price target to $288.00 from $222.00, noting it sees upside to estimates from any increase in lithium pricing, potential tailwinds from the IRA, and the growing demand for lithium.
Shares gained more than 4% yesterday.
BMO Capital upgraded Gilead Sciences (NASDAQ:GILD) to Outperform from Market Perform and raised its price target to $100.00 from $90, noting it believes the company is a best-in-class cell therapy franchise supported by strong manufacturing capabilities.
Among the reasons for the upgrade, the firm also mentioned an improving solid tumor oncology business, anchored by Trodelvy, and durable growth anchored by the HIV/Virology business.
InvestingPro subscribers got this news in rapid fire. Never be left in the dust again.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Author
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.