Diamond Member Pelican Press 0 Posted April 24, 2024 Diamond Member Share Posted April 24, 2024 Tesla earnings reaction, Airbnb gets an upgrade (This is CNBC Pro’s live coverage of Wednesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Tesla and Airbnb were among the biggest analyst calls for Wednesday. Analysts around the Street reacted to Tesla’s latest quarterly results. While shares rallied on the back on the report, many of those covering the EV maker remained skeptical on the company’s prospects going forward. Elsewhere, Mizuho upgraded Airbnb to buy. Check out the latest calls and chatter below. All times ET. 5:48 a.m.: Wall Street ******** skeptical on Tesla Tesla shares are up 10% following its first quarter earnings announcement — but Wall Street analysts aren’t feeling as enthusiastic on the stock. The electric vehicle maker missed on both top and bottom lines. Revenue fell 9% on a yearly basis, the steepest annual decline since 2012. Nonetheless, “the report was better than relatively low investor expectations,” according to Goldman Sachs. Automatic non-GAAP ****** margins, despite decline on a sequential and yearly basis, still topped estimates, per analyst Mark Delaney. Tesla’s update that it is planning on launching a low-cost model — not the Model 2 — using elements from existing lines to “pull-in timing should help to mitigate intermediate to longer-term growth concerns,” Delaney wrote in a note. TSLA YTD mountain TSLA year to date Goldman is sticking with its neutral rating on the stock due to ongoing questions and concerns around vehicle volumes, robotaxi This is the hidden content, please Sign In or Sign Up and concerns surrounding competition and demand. Its $175 price target suggests 21% upside from Tuesday’s close. UBS is also staying on the sidelines. Analyst Joseph Spak reiterated his neutral rating while notching down his price target to $147 from $160. Spak believes near-term visibility is cloudy due to its pivot to AI. “TSLA took the ultimate bear case off the table as there is a new, lower-cost product coming,” Spak said in a Tuesday note. But, “while we see improvement from 1Q24 levels, we see limited growth for [the] current lineup and lack of clarity on what these “new vehicles” could bring. “There are still several unanswered questions around the new low-cost vehicle,” Spak noted. Wells Fargo’s Colin Langan is more bearish. He kept his underweight rating on the stock following the quarterly results, citing rushed timing of the new models and a weak fundamental backdrop. “We suspect the release of deferred [full self-driving] sales explains most of the Q1 beat. Post call excitement, fundamental risks around demand & px pressure continue,” Langan said in a client note on Tuesday. — Hakyung Kim 5:48 a.m.: Mizuho upgrades Airbnb Airbnb is on a roll, and Mizuho expects even more gains ahead. Analyst James Lee upgraded the short-term housing rental company to buy from neutral. His new price target of $200, up from $150, implies upside of 24%. Shares were up more than 1% in the premarket. The stock has been on ***** this year, soaring 18.2%. ABNB YTD mountain ABNB year to date Lee cited three drivers for the upgrade. First, “we expect the potential launch of sponsored listings to generate double-digit EBITDA upside long-term; (2) We believe FY24E consensus room night growth has been de-risked, leaving limited downside concerns; (3) We see opportunities to beat room night growth with incremental demand from Summer Olympics and share gains from elevated hotel pricing.” — Fred Imbert This is the hidden content, please Sign In or Sign Up Investment strategy,Stock markets,Airbnb Inc,Tesla Inc,business news #Tesla #earnings #reaction #Airbnb #upgrade This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/20993-tesla-earnings-reaction-airbnb-gets-an-upgrade/ Share on other sites More sharing options...
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