Diamond Member Pelican Press 0 Posted July 17, 2024 Diamond Member Share Posted July 17, 2024 This is the hidden content, please Sign In or Sign Up All the market-moving Wall Street chatter from Wednesday (This is CNBC Pro’s live coverage of Wednesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) An electric vehicle maker and a health insurance giant were among the stocks being talked about by analysts on Wednesday. Morgan Stanley raised its price target on Rivian to $17 from $13. Meanwhile, Jefferies upgraded UnitedHealth to buy from hold. Check out the latest calls and chatter below. All times ET. 5:44 a.m.: Jefferies upgrades UnitedHealth to buy on ‘superior ’25 setup’ UnitedHealth’s near-term setup is looking rosy, according to Jefferies. The bank upgraded the health insurance stock to buy from hold. Analyst David Windley also hiked his price target to $647 from $481. This updated forecast implies 18% upside for shares of UnitedHealth. Shares of UnitedHealth are up 4% on the year and rose 6.5% on Tuesday, after the company posted a second-quarter earnings and revenue beat. UNH YTD mountain UNH year to date The analyst applauded UnitedHealth’s efforts to beat its earnings estimates by pinching costs tightly, which could lead into a “superior ’25 setup.” Windley also wrote that accelerating ****** sales growth could improve UnitedHealth’s relative multiple. Additionally, external factors have also fallen into the company’s favor. “A major reason for our Hold position was a growing list of political/regulatory/self-inflicted overhangs,” Windley said. “Over the past ~2 months, many have resolved or trended in UNH’s favor, notably the US Presidential election (most important, by far), competitors messaging ************* MA bid postures, Amedisys deal moving forward (key for capitated growth), Chevron Deference ruling, and UNH reportedly stopping pursuit of Steward’s Physician network (that was a bad look).” The analyst added that UnitedHealth looks best positioned to capture the full economic opportunity of growth in Medicare Advantage plans. — Lisa Kailai Han 5:44 a.m.: Morgan Stanley hikes Rivian price target A new partnership has injected new life into Rivian shares, but Morgan Stanley thinks gains will be limited from here. Analyst Adam Jonas raised his price target on the stock to $17 from $13. The new forecast, however, implies downside of 5.2% from Tuesday’s close. The change comes after Volkswagen announced on June 25 it will invest up to $5 billion in the EV maker, sending shares soaring. Since then, Rivian is up 50%. RIVN mountain 2024-06-25 RIVN since June 25 “VW’s cash reduces near term vol in the stock but it doesn’t change our view that Rivian may have a better future as a Tier 1 supplier/SDV ‘tech partner’ than as a stand-alone maker of EVs,” wrote Jonas, who kept his overweight rating on shares. “For Rivian to justify being an OW in your portfolio at this price, the company must show continued proof-points on capital discipline, improved visibility of earnings and a credible path to $1bn to $2bn of [free cash flow] before end of decade,” he added. — Fred Imbert This is the hidden content, please Sign In or Sign Up #marketmoving #Wall #Street #chatter #Wednesday This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up For verified travel tips and real support, visit: https://hopzone.eu/ 0 Quote Link to comment https://hopzone.eu/forums/topic/68687-all-the-market-moving-wall-street-chatter-from-wednesday/ Share on other sites More sharing options...
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