Investing.com -- Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: a Buy initiation at Boeing, and upgrades at Shoals Technologies, CAVA Group, Coherent , and Iris Energy.
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Boeing started with Buy rating at UBS
UBS initiated coverage on Boeing (NYSE:BA) with a Buy rating on Wednesday with a price target of $275, as reported in real time on InvestingPro.
On Tuesday, the company announced deliveries for Q3 that revealed a September drop in its best-selling 737 MAX deliveries due to ongoing efforts to correct a manufacturing defect, with that figure hitting its lowest level since August 2021. Despite this, significant new orders were booked in September for 224 planes, offset by 10 cancellations, and shares rose more than 2% Tuesday.
The company is set to report its Q3/23 earnings on Oct 25.
Shares were up 0.8% to $193.53 in recent premarket trading.
Shoals Technologies gains on Goldman Sachs upgrade
Shoals Technologies Group (NASDAQ:SHLS) shares rose nearly 5% pre-market Wednesday after Goldman Sachs upped the company to Buy from Neutral and raised its price target to $28 from $27.
The analysts believe that recent warranty expense issues appear to be priced in, shifting the risk for margin gains upward. The upgrade also came on Goldman's positive outlook on US utility-scale solar fundamentals and on multiple upcoming catalysts for the company.
Three more upgrades
Morgan Stanley upgraded CAVA Group (NYSE:CAVA) to Overweight from Equalweight with a price target of $41.00 (from $45.00). As a result, shares gained more than 4% pre-market today.
Coherent (NYSE:COHR) shares rose more than 4% pre-market today after B. Riley upgraded the company to Buy from Neutral and raised its price target to $51.00 from $37.00.
Iris Energy (NASDAQ:IREN) shares jumped more than 6% pre-market today after JPMorgan upgraded the company to Overweight from Neutral and raised its price target to $6.50 from $6.00.
The rating change reflects expansion progress at the company’s new Childress location and improving fleet efficiency, implying an almost 100% possible upside from the present levels.
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