FX168 Financial News Agency (North America) According to the following summary, these are the most influential US stock market ratings that Wall Street is paying attention to. #2024 Market Outlook # # 2024 Macro Outlook #
#2024 Investment Strategy#
Hot upgrade
Benchmark upgraded Booking Holdings (BKNG) from Hold to Buy, with a target price of $4700. Although the company acknowledges that the timing may not be ideal, considering the sharp increase in current economic concerns, as well as signs of declining transactions and brand performance in some key European markets, the company added that its previous rating was inconsistent with its long-term view.
Citi upgraded Array Technologies (ARRY) from Neutral to Buy with a target price of $14, down from the previous $17. Analysts told investors in a research report that this year's stock price has fallen by more than 40%, possibly due to concerns about project delays, unexpected changes in the CFO, potential recent shipping pressure and falling prices.
Jefferies upgraded Inter Parfums (IPAR) from Hold to Buy, with a target price staying unchanged at $140. Analysts told investors in a research report that the stock has fallen 17% so far this year and is currently oversold.
Jefferies upgraded Osisko Gold (OR) from Hold to Buy, with a target price staying unchanged at $19. The company said that the rise in gold prices will provide a significant boost to the predicted free cash flow of gold miners this quarter, and is expected to grow further in the third quarter.
Hot downgrade
UBS downgraded Tesla (TSLA) from Neutral to Sell with a target price of $197, up from the previous $147. Analysts told investors in a research report that the stock's valuation premium has recently expanded, driven by enthusiasm for AI.
Piper Sandler downgraded Vita Coco (COCO) from Overweight to Neutral and lowered the target price from $29 to $28. Analysts continue to believe that the Vita Coco brand has long-term growth potential, but due to the outlook for the company's rising shipping costs, they believe that the current stock price is relatively valued.
Baird downgraded UL Solutions (ULS) from Outperform to Neutral with a target price of $46, up from the previous $41. Analysts told investors in a research report that this downgrade reflects the stock's outperformance and slightly higher risk of profit improvement.
Scotiabank downgraded Marathon Oil (MRO) from Outperform to Perform and lowered the target price from $45 to $29. Analysts pointed out that considering Conocophillips' (COP) acquisition of Marathon Oil will be completed at the end of the year, Marathon faces risk arbitrage pressure and the lowered target price reflects the exchange ratio.
First rating
Wolfe Research began rating Spotify (SPOT) with a Buy and a target price of $390. The company said that relative to music record companies, Spotify offers a pure eternal music streaming exposure that avoids fluctuations driven by popular tracks, artist negotiation risks, and has extremely low capital investment intensity.
BTIG began rating Carvana (CVNA) with a Buy and a target price of $155. The company trades at a premium in e-commerce and auto-related stocks, but its vertical integration and internal business model are simply better mousetraps in the vast total addressable market, investment analysts told investors in a research report.
Barclays began rating Revolution Medicines (RVMD) with an Overweight and a target price of $52. Analysts are optimistic about the company's 'two value driving data disclosures' in the second half of 2024.
Stifel began rating Six Flags Entertainment (FUN) with a Buy and a target price of $68, up from the previous $53. Analysts are optimistic about the new entity and believe that Six Flags' traditional theme parks have 'plenty of room to rise'.
Scotiabank began rating Fluence Energy (FLNC) as in line with market expectations and set a target price of $21. The company sees Fluence as a benefit purely for large-scale battery storage and providing solutions for large utility projects, and will benefit from the long-term growth trend of US utility-scale battery storage as its domestic manufacturing capacity expands and its supply chain is localised.