By Davit Kirakosyan
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: a Buy initiation at Duolingo, and upgrades at Tractor Supply, Bumble , and Ball.
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Ball earns an upgrade at Jefferies
Ball (NYSE:BALL) shares rose more than 2% pre-market today after Jefferies upgraded the company to Buy from Hold and raised its price target to $64.00 from $63.00, as reported in real-time on InvestingPro.
With the multiple re-basing back to pre-2019 levels, FCF re-accelerating, & fundamentals at a trough, we find the risk:reward attractive & we're upgrading BALL to a Buy.
Tractor Supply upgraded on ‘favorable market dynamics, consistent financial performance'
DA Davidson upgraded Tractor Supply (NASDAQ:TSCO) to Buy from Hold and raised its price target to $280.00 from $250.
“We believe TSCO fits 11 of the 12 criteria required to qualify as a “Best-of-Breed Bison” name within our framework, including trading at a significant discount to intrinsic value,” mentioned DA Davidson. The firm also noted that Tractor Supply stands out in terms of favorable market dynamics, consistent financial performance, and a management team that prioritizes the interests of shareholders.
Two more analyst picks
Loop Capital upgraded Bumble (NASDAQ:BMBL) to Buy from Hold with a price target of $18.00. As a result, shares rose more than 4% pre-market today.
Duolingo (NASDAQ:DUOL) shares gained more than 3% yesterday after UBS initiated coverage on the company with a Buy rating and a price target of $195.00.
“DUOL has a best-in-class brand within the language learning space which is still early in its online penetration ramp,” mentioned UBS. According to the bank, Duolingo has the potential to accelerate user engagement and payer penetration trends by leveraging GenAI-powered content creation, which could result in a 29% CAGR in subscribers over the next two years.
UBS expects a stabilization in subscriber monetization by the end of fiscal 2023, driven by the ongoing adoption of Family Plans and increased promotion of the new Max tier.
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