Diamond Member Pelican Press 0 Posted March 19, 2024 Diamond Member Share Posted March 19, 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 home improvement stock and a plane maker were in focus in Tuesday’s analyst chatter. Mizuho initiated Home Depot with a buy rating, calling for roughly 10% upside. UBS reiterated Boeing as a buy, noting it sees major gains ahead for the stock. Elsewhere, analysts cheered the latest Nvidia chip announcements, with some ratcheting up their estimates on the stock. Check out the latest calls and chatter below. All times ET. 5:50 a.m.: UBS reiterates Boeing as buy Boeing’s struggles year to date have created an entry point for longer-term investors, according to UBS. Analyst Gavin Parsons reiterated his buy rating on the stock and price target of $275. That forecast implies upside of 53% over the next 12 months. Boeing is the worst-performing S & P 500 stock year to date, losing 31% amid a myriad of manufacturing issues. Earlier this year, a section of a 737 Max 9 plane blew out during an Alaska Airlines flight. “There is a great deal of uncertainty around regulator actions, MAX production rates, MAX-7 and -10 certification (amongst other items), which has made the stock difficult to own for many investors,” Parsons wrote. “But with shares … trading at just 11X Boeing’s $10bn FCF target, and pricing in normalized FCF slightly to significantly below that, we believe this is a good buying opportunity, especially on a multi-year horizon.” — Fred Imbert 5:50 a.m.: Mizuho initiates Home Depot at a buy, citing upcoming rate cuts Upcoming rate cuts means good things for Home Depot , according to Mizuho. The bank initiated coverage of the home improvement stock at a buy rating, setting a price target of $415. This implies a potential upside of 12% from Home Depot’s Monday closing price of $371.91. Analyst David Bellinger listed a favorable home improvement backdrop as a catalyst for the stock, which has already rallied 7% this year. HD YTD mountain HD year to date “From the perspective of a homebuyer, we believe nothing gets consumers spending more within the category than a home purchase and the multitude of additional purchases that come along with it,” he wrote. “The potential for Fed rate cuts should spur an uptick in housing turnover, and the subsequent purchases made both before and after a home ***** (painting, flooring, potentially larger remodels post purchase, etc.).” Bellinger believes that Home Depot is best positioned within the more complex pro market. The bank’s recent first-quarter commentary suggests that Home Depot may face some near-term disruptions, followed by a rebound for the stock. “We expect that the macro pressures we called out to point towards low single-digit negative growth from improvement demand and then for us to outperform the market,” the bank wrote in its recent Q1 commentary. — Lisa Kailai Han 5:50 a.m.: Analysts cheer Nvidia announcements Nvidia on Monday unveiled new artificial intelligence chips , leading some analysts further increase their estimates on the semiconductor maker. Wells Fargo raised its price target on the stock to $970 from $840, implying upside of nearly 10%. The bank also maintained its overweight rating. “We think NVIDIA’s presentation did solidly reinforce our long-standing positive thesis in the co’s full stack / accelerated compute platform differentiation, which continues to include expanding monetization opportunities,” analyst Aaron Rakers wrote. Goldman Sachs also increased its price target to $1,000 from $850. The new forecast implies upside of around 13%. NVDA YTD mountain NVDA year to date “All in, we come away from the keynote with a renewed appreciation of Nvidia’s 1) unique ability to innovate at data center scale (as opposed to at the GPU or chip level), 2) large eco-system and breadth of its customer and partner engagements and, 3) ultimately, compelling position as one of the key enablers and beneficiaries of the ongoing build-out of Generative AI infrastructure,” analyst Toshiya Hari said in a note, reiterating a buy rating on the stock. Bernstein’s Stacy Rasgon maintained an outperform rating and $1,000 price target. “Move over Taylor Swift, you’re not the only one that can sell out a stadium as [CEO] Jensen [Huang] presented his GTC keynote to a packed crowd at the SAP Center in San Jose,” he wrote. “Blackwell GPU launched in what was probably the most anticipated announcement,” he said. “The company provided details on their forthcoming B200 GPU, billed as ‘the world’s most powerful chip’ and comprised of 2 ***** (both reticle-limited) connected into a single component via a 10 TB/s linkage and sporting 208 billion transistors.” — Fred Imbert This is the hidden content, please Sign In or Sign Up Investment strategy,Stock markets,Home Depot Inc,Boeing Co,business news #marketmoving #Wall #Street #chatter #Tuesday This is the hidden content, please Sign In or Sign Up Link to comment https://hopzone.eu/forums/topic/4810-all-the-market-moving-wall-street-chatter-from-tuesday/ Share on other sites More sharing options...
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