Diamond Member Pelican Press 0 Posted May 14, 2024 Diamond Member Share Posted May 14, 2024 All the market-moving Wall Street chatter from Tuesday (This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Nvidia and a major gym stock were among the biggest names talked about by analysts on Tuesday. Deutsche Bank maintained a hold rating on Nvidia ahead of earnings next week, while Wells Fargo raised its price target. Elsewhere, JPMorgan upgraded Planet Fitness to overweight from neutral. Check out the latest calls and chatter below. All times ET. 5:44 a.m.: Deutsche retains hold on Nvidia ahead of results Nvidia’s healthy beat-and-raise momentum will likely continue when it announces its first-quarter earnings on May 22, Deutsche Bank believes. However, the firm thinks shares are already fully valued by investors. Analyst Ross Seymore reiterated his hold rating on the stock. He has a $850 price target on shares, indicating shares pulling back nearly 6% from Monday’s close. “Overall, we remain impressed by NVDAs best-in-class technology roadmap and believe AI fervor by its customers is likely to be sustained (see still strong capex commentary from META, MSFT), yielding yet another strong quarter/ guide,” Seymour wrote in a Monday note. “However, investors apparently have become more discerning of AI-driven upside in earnings season QTD, and we believe continued fundamental strength is already well understood.” The analyst forecasts Nvidia reporting $24.5 billion in revenue for the quarter, or a 11% rise from the previous quarter. Nvidia is up 82.5% in 2024. However, the stock is up less than 5% over the last month. Wells Fargo’s Aaron Rakers is more bullish on Nvidia. The analyst raised his price target on the stock to $1,150 from $974, implying upside of more than 27%. — Hakyung Kim 5:45 a.m.: JPMorgan upgrades Planet Fitness Planet Fitness shares are primed for a comeback, according to JPMorgan. Analyst Rahul Krotthapalli upgraded the gym stock to overweight from neutral. He also raised his price target to $78 from $68, implying upside of 19% from Monday’s close. “This view is primarily driven by growing visibility to improvement in franchise new unit economics (~300-400bps below pre-Covid or +500-600bps y/y), leading to higher confidence in long term development This is the hidden content, please Sign In or Sign Up (~190 new stores y/y) – that follows the anticipated step up in white card pricing to $15 (from $10) for new joins beginning this summer,” Krotthapalli wrote. The upgrade comes after Planet Fitness reported mixed first-quarter results. Earnings per share beat estimates, but revenue was just below the consensus, per FactSet. The stock has struggled year to date, losing 10.2%. PLNT YTD mountain PLNT year to date — Fred Imbert This is the hidden content, please Sign In or Sign Up Investment strategy,Stock markets,Planet Fitness Inc,NVIDIA Corp,business news #marketmoving #Wall #Street #chatter #Tuesday This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/31495-all-the-market-moving-wall-street-chatter-from-tuesday/ Share on other sites More sharing options...
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