Wall Street Updates
Here’s a look at the latest from Wall Street:
Citigroup has reaffirmed its interest in acquiring Micron Technology and has raised its price target for Micron stock from $425 to $840. The bank anticipates that Micron will increase DRAM prices by around 40% in the second quarter, following Samsung’s significant 100% price hike in the first quarter.
UBS has upgraded Jazz Pharmaceuticals to a neutral buy. They expressed optimism regarding the anti-cancer drug Zihera, citing strong business fundamentals and enhanced confidence in Zihera’s market appeal, raising JAZZ’s price target from $188 to $307.
Morgan Stanley has given a positive outlook for X Energy, highlighting the company’s advancements in nuclear technology and fuel manufacturing.
Canaccord has upgraded Progyny from hold to buy, noting expected revenue growth for the benefits management company with a new price target of $30.
Another upgrade from Morgan Stanley is for United Microelectronics, which moved from equal weight to overweight, citing favorable valuations and potential earnings increases due to rising demand for mature nodes.
Barclays has also raised its price target for CrowdStrike from $550 to $650, ahead of earnings in early June. They highlighted a more optimistic outlook regarding the company’s artificial intelligence opportunities.
Rosenblatt reiterated its buy rating for Broadcom, maintaining that the stock is still undervalued despite some recent gains. They believe the market is underestimating Broadcom’s potential in AI.
Loop has launched coverage on Corpay, a payment processing firm, with a buy rating and a price target set at $406. They noted the company’s growth potential within B2B payments.
Benchmark has initiated coverage on Interface Inc., a flooring company, indicating a readiness to leverage long-term industry trends.
HSBC raised its price target for NVIDIA from $295 to $325, anticipating further earnings growth for fiscal 2028.
UBS has upgraded Assured Guarantee from neutral to buy, pointing to earnings resilience and attractive valuations compared to the operating book value.
HSBC has also upgraded Creditcorp to buy, reflecting optimism about the Peruvian bank amid positive economic recovery trends.
Bernstein believes it’s a good time to invest in American Tower, emphasizing the company’s reputable management and potential overlooked upside.
Barclays has maintained its equal weight rating on Tesla, focusing on ongoing growth initiatives like Robotaxi expansion and the Optimus launch.
Guggenheim has upgraded StubHub from neutral to buy, with a new price target of $12.50, indicating potential upside.
Finally, Oppenheimer has raised its price target for Costco from $1,100 to $1,160 before the upcoming earnings report. They believe in the stock’s defensive attributes and value proposition, seeing the potential for exciting developments like a special dividend or stock split.
