All the market-moving Wall Street chatter from Tuesday

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All the market-moving Wall Street chatter from Tuesday

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as a top pick, noting its approaching an inflection point in its artificial intelligence initiatives. Check out the latest calls and chatter below. All times ET. 5:43 a.m.: Piper Sandler upgrades Atlassian to overweight after 25% sell-off Investors could be overlooking Atlassian at the moment, according to Piper Sandler. The investment firm upgraded the software stock to overweight from neutral. Analyst Rob Owens also increased his price target to $225 from $200. This updated forecast implies that shares of Atlassian could jump 26% from here. Shares of Atlassian have plunged 25% this year, making the risk/reward look more favorable. The analyst wrote that he sees “the current valuation as an attractive entry point into what we view as one of the most durable companies in our coverage.” As more consumers migrate to the cloud, Owens believes that this could drive further durable growth for the company. “We do believe that it is a question of when — not if — these enterprises will move to cloud. With a large amount of new data residency locations coming online in the last year, compelling new products in the cloud only like Atlassian Intelligence and more improvements on the way, we believe enterprise migrations will pick up steam going forward,” he wrote. Meanwhile, Atlassian’s product innovations could create cross-sell opportunities for the company. — Lisa Kailai Han 5:43 a.m.:

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reaching AI ‘inflection point,’ says Mizuho Mizuho thinks

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could soon get a major boost from artificial intelligence. The bank maintained the e-commerce giant as a top pick. Its $240 price target on the stock implies upside of 21.7% from Monday’s close. “Gen-AI projects are nearing an inflection point, with external-facing models 6 months away from commercial deployments,” analyst James Lee wrote. “After launch, we expect the consumption multiplier effect to kick in as inferencing activity should accelerate meaningfully given the large base of external customers.” “With that in mind, we have increased conviction of AWS acceleration and our above-the-Street revenue growth forecast of 20%,” Lee added.

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shares have popped nearly 30% year to date. AMZN YTD mountain AMZN year to date — Fred Imbert

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Atlassian Corp,

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.com Inc,Stock markets,Investment strategy,business news
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