All the market-moving Wall Street chatter from Friday

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All the market-moving Wall Street chatter from Friday

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, cites weak advertising

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Morgan Stanley is moving to the sidelines on shares of

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as the ******** Internet company braces for weak advertising growth. “

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’s core rev +4% YoY in 2Q, and weak ads

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is set to linger,” wrote analyst Gary Yu, who downgraded shares to equal weight from overweight. “Stock has rallied 17% but we see limited near-term catalysts.” Yu expects this worrisome ad

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to continue in upcoming quarters due to a weak macroenvironment and spending hinging on a bounce back in small-and-medium enterprises. The shift to generative AI from traditional search has also pressured user retention and gotten off to a slow start. “Cloud growth to accelerate but AI monetization still at early stage,” he wrote. Along with the downgrade, Morgan Stanley trimmed its price target to $125 from $140 a share, reflecting 11% upside from Thursday’s close. Yu also revised non-GAAP operating profit estimates for 2024 and 2025. – Samantha Subin 5:48 a.m.: Macquarie upgrades JD.com, says shares have ‘bottomed out’ The

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is improving for shares of JD.com , according to Macquarie. Analyst Ellie Jiang upgraded the ******** e-commerce stock to outperform from neutral, saying that shares have “bottomed out” from a “year-long transition” *******. “After a year-long organizational restructuring, we believe JD has now entered a new stage with core categories such as electronics/appliances and general merchandising to see recovering signals,” she wrote. “JD Retail revenue rebounded to 6.8% yoy during 1Q24 from 3.4% yoy in the prior quarter, reinforcing JD’s strong presence in the China retail market.” Shares of JD.com have fallen about 8% over the last year. Jiang upped the firm’s price target on U.S.-listed shares to $40 from $26, representing about 17% upside from Thursday’s close. JD YTD mountain JD.com year to date Looking ahead, Jiang expects JD.com to benefit from a recovery in core categories, an expansion in its merchant pool, and increased customer purchasing. “As JD differentiates itself among ecommerce peers with a supply chain-centric strategy, we turn more optimistic towards JD’s growth

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while maintaining steady earnings despite fierce competition,” she said. — Samantha Subin 5:48 a.m.: Jefferies upgrades DuPont de Nemours Shares of DuPont are primed for major gains ahead, according to Jefferies. Analyst Laurence Alexander upgraded the chemicals giant to buy from hold. He also raised his price target to $101 from $78, implying upside of 30%. DD YTD mountain DD year to date “The cyclical recovery trade for DuPont is all about volumes, not spreads. DuPont provides both operating leverage to the next cycle in electronics, construction and manufacturing, as well as support for multiple expansion based on portfolio evolution through cultural change and asset selection,” Alexander said. DuPont has lagged the broader market this year, rising less than 1%, while the S & P 500 has popped 11% to record highs. However, “discipline around FCF deployment (a 7.1% avg. yield before dividends) should lead to a constructive narrative over the next 2-3 years,” according to Alexander. — Fred Imbert

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Investment strategy,Stock markets,Dupont De Nemours Inc,JD.Com Inc,JD.Com Inc,

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Inc,business news
#marketmoving #Wall #Street #chatter #Friday

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