The club’s 10 things to see on Friday 17 March
1. First Republic (FRC) still very much a bull vs. bear debate after 11 banks pledged to provide the troubled regional bank with $30 billion in uninsured deposits with an initial maturity of 120 days. JPMorgan maintains FRC as a top pick, but lowers price target to $62 per share. stock from $150. Wedbush and Atlantic Equities both downgrade their ratings to neutral. Wedbush’s PT moves to $5. No price target on Atlantic Equities. That Dowthat S&P 500 and Nasdaq opened lower on persistent banking concerns.
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2. FedEx (FDX) is up more than 11% early Friday after delivering a big adjusted earnings-per-share (EPS) beat of $3.41 versus the $2.71 expected. Revenue was flat, but the company’s cost-cutting programs are working.
3. Even after a big run, Morgan Stanley believes it’s not too late to get long clubs Nvidia (NVDA). Analysts upgrade the chip maker to overweight from balance (buy from hold). Price target at $304 per stock from $255. Morgan Stanley believes that generative artificial intelligence is “too much of a megatrend” to be distracted by short-term concerns in gaming and the data center.
4. Advanced micro-devices (AMD), also a club stock, gets a price target boost to $120 a share. stock from $100 at TD Cowen, which also maintains an overweight (buy) rating. Basically saying don’t sleep on the semiconductor AI strategy.
5. Warner Bros Discovery (WBD) upgraded to overweight from balance (buy from hold) at Wells Fargo, which also increases the price target to $20 per share. share from $13. Although there are concerns about the company’s balance sheet, analysts believe WBD can still reduce leverage to 3x net debt to EBITDA (earnings before interest, taxes, depreciation and amortization) by 2025 in their downside scenario.
6. Bowler‘s (BOWL) price target is raised to $20 per stock from $18 at JPMorgan, which says bowling can be an offsetting activity in an uncertain economy.
7. Nucor (NUE) price target raised to $156 per stock from $140 by research analysts at Credit Suisse, who maintain an outperform (buy) rating. However, the steelmaker provided preliminary Q1 earnings guidance on Thursday that was slightly below consensus.
8. Barclays adjusts price targets on a bunch of energy stocks: Berkshire Hathaway– favorite Occidental (OXY) up to $78 per stock from $70; Club inventory Coterra energy (CTRA) up to $30 from $26 but Devon energy (DVN) down to $67 from $82.
9. KeyBanc analysts recently vacationed in Disneyland and Disney California and noted that the parks remain “incredibly busy” with no slowdown from recent price increases and inclement weather. Disney (DIS) is a club team.
10. Club team Alphabet‘s ( GOOGL ) Google raises YouTube TV prices to $73 per month from $65.
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