Contact Information

37 Westminster Buildings, Theatre Square,
Nottingham, NG1 6LG

We Are Available 24/ 7. Call Now.


© Reuters

Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: initiation at AMD, upgrades at Cisco, bluebird bio, and Helmerich & Payne.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

AMD started with Outperform rating at Wolfe

Late Wednesday, Wolfe Research initiated coverage on Advanced Micro Devices (NASDAQ:) with an Outperform rating and a price target of $150.00 and added the stock to the Wolfe Alpha List as its top pick.

The firm’s bullish thesis on AMD is due to several key factors.

First, the normalization of inventory, which is expected to support growth in H2/23 following excessive inventory levels in both client and data center segments.

Second, the firm anticipates that AMD will continue to gain market share against Intel (NASDAQ:), particularly in the data center segment, driven by the introduction of the Genoa and Bergamo CPUs.

Lastly, there is a potential contribution from new markets in 2024, such as telco and the MI300 for AI. Wolfe estimates that these markets will represent only a low single-digit percentage of revenue growth in 2024, but believes there is potential for significant upside.

InvestingPro | Unlock the Market's

Cisco gains on JPMorgan upgrade

Cisco Systems (NASDAQ:) shares rose more than 2% Wednesday after JPMorgan upgraded the company to Overweight from Neutral and raised its price target to $62.00 from $55.00, as reported in real time on InvestingPro.

The firm highlighted limited downside for enterprise spending and a cheap valuation. They expect the magnitude of order moderation to be limited moving forward, following a decline in order trends over several quarters.

We expect the macro to continue to drive spending sluggishness from customers, but at the same time we expect demand/orders for Networking Equipment including Wi-fi, Campus Switching, and Datacenter switching to have limited further deterioration.

JPMorgan also called Cisco’s valuation “inexpensive” with a forward price-to-earnings ratio of 12.5x.

2 more upgrades

bluebird bio (NASDAQ:) shares surged more than 16% yesterday after BofA Securities upgraded the company to Buy from Neutral and raised its price target to $10.00 from $6.00, noting that the company’s sickle cell disease (SCD) gene therapy product, lovo-cel, is underappreciated.

Helmerich and Payne (NYSE:) shares gained more than 3% yesterday after Benchmark upgraded the company to Buy from Hold.

The company is set to report its Q3/23 earnings on July 27. Street estimates stand at $0.91 for EPS and $707.83 million for revenues.

Jump on the biggest news for your portfolio amid a barrage of market headlines: Always be the first to know with InvestingPro.

Start your free 7-day trial now.

InvestingPro | Be The First To Know

Source link

Share:

administrator

Leave a Reply

Your email address will not be published. Required fields are marked *