Diamond Member Pelican Press 0 Posted May 28, 2024 Diamond Member Share Posted May 28, 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.) A major cruise line operator and a bank in the Midwest were among the stocks being talked about by analysts on Tuesday. Mizuho raised its rating on Norwegian Cruise Line to buy from neutral. Meanwhile, JPMorgan upgraded Huntington Bancshares to overweight from neutral, with a price target that implies upside of 31%. Check out the latest calls and chatter below. All times ET. 5:40 a.m.: Mizuho upgrades Norwegian Cruise Line, cites inflection point for performance It’s time for investors to take a chance on Norwegian Cruise Line , according to Mizuho. The bank upgraded shares of the cruise operator to buy from neutral and lifted its price target to $24 from $21. This updated forecast implies that shares of Norwegian could rise 50% from their closing price. With the stock down 20% this year, analyst Ben Chaiken thinks sentiment is finally shifting as valuations become more attractive. “After ~2 years of significant relative underperformance (~ -160% vs RCL since Jan ’23) NCLH is streamlining its business (e.g., cost cuts), which should drive upside to near-term/medium-term estimates,” he wrote. The analyst also cited Norwegian’s cost reductions as another catalyst for the change. The company has pledged to target $300 million in expense cuts by 2026, with $100 million reached this year. Norwegian has also made efforts to provide higher yields for its investors, Chaiken noted. “In the context of a very favorable industry backdrop (i.e., limited industry supply, and healthy demand), we see upside to yields from NCLH optimizing its fleet itineraries (i.e., simplifying), with a longer-term yield tailwind from further build-out of its private island portfolio,” he wrote. — Lisa Kailai Han 5:40 a.m.: JPMorgan upgrades Huntington Bancshares This year’s strong gains in Huntington Bancshares are only the beginning, according to JPMorgan. Analyst Steven Alexopoulos upgraded the Columbus, Ohio-based bank to overweight from neutral. His price target of $18, up from $16, implies upside of 31% from Friday’s close. Alexopoulos noted he became more upbeat on the stock after meeting with its CEO and chief financial officer. “What we learned from our meetings … is that (1) the onshoring benefits to the company’s primary markets appears to not only be much more of a needle-mover than we expected, but the timing of these benefits is also coming sooner than expected and (2) with the company having followed a plan since the 2022 investor day to add new verticals as well as expand into new markets, the potential incremental organic growth from these initiatives is much more than we had anticipated,” the analyst wrote. Huntington shares have climbed 8% year to date. They are also up 26% over the past six months. The stock rose more than 1% in the premarket following the upgrade. HBAN YTD mountain HBAN year to date — Fred Imbert This is the hidden content, please Sign In or Sign Up Investment strategy,Stock markets,Huntington Bancshares,Norwegian Cruise Line Holdings Ltd,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/38880-all-the-market-moving-wall-street-chatter-from-tuesday/ Share on other sites More sharing options...
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