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☆ Tesla shares 'very expensive': EV maker likely to face a 'huge demand problem' over price cuts, fund manager says
▼ + stars: | 2024-05-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Other automakers are seeing strong growth in their electric vehicle sales even as the overall global auto market faces a downturn, adding to the pressure for Tesla. Similarly, BMW said earlier in April that sales of fully electric vehicles at its core brand jumped 41% in the first quarter. However, as the EV maker aggressively cut the cost of new vehicles globally, used car values have dropped in parallel. "I think there's going to be a huge demand problem for Tesla," he added. However, they reiterated their "overweight" rating for the stock with a price target of $205 – or 12% upside – for Tesla.

Persons: Tesla, Mark Hawtin, Elon, Hawtin, United States …, Ronald Jewsikow, Guggenheim, Piper Sandler, Alexander Potter, Ben Johnson Organizations: GAM Investments, Baidu, Volkswagen, BMW, Tesla Locations: China, Europe, United States

☆ Stocks making the biggest premarket moves: Rivian, Micron, Adobe, Ulta and more
▼ + stars: | 2024-03-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading: Rivian Automotive — The EV stock added nearly 4% following an upgrade by Piper Sandler to overweight . Adobe — Shares fell 11% a day after the software company issued weak revenue guidance for its current quarter. Ulta Beauty — Shares tumbled 6.5% a day after the beauty retailer issued full-year earnings guidance that came in on the low end of the consensus forecast. Revenue guidance is in the range of $110.5 million and $112.5 million also below the $113.4 million analyst expectation. Revenue guidance also fell short.

Persons: Piper Sandler, Alexander Potter, Ulta, bitcoin, amortization, Zumiez, —, Sarah Min Organizations: Micron Technology, Citi, Micron, Adobe Locations: cryptocurrencies, FactSet

Piper Sandler raised its rating on Rivian to overweight, noting the stock can rally 96% from here. Baird's $1,050 price target implies that Nvidia stock could still rally another 19%, adding onto its eye-watering 78% gain so far this year. After soaring more than 200% last year, Nvidia shares have surged another 77% in 2024. "Make no mistake: buying RIVN is risky and a botched midyear re-tooling effort could yet surprise investors negatively," Potter wrote. Snowflake shares have struggled this year, losing 20%, in part due to Frank Slootman stepping down his CEO role.

Persons: Piper Sandler, Guggenheim, Baird, Trista Gerra, Blackwell, Gerra, Lisa Kailai Han, Alexander Potter, Tesla, Rivian hasn't, Potter, Rivian, John DiFucci, DiFucci, Snowflake, Frank Slootman, Fred Imbert Organizations: CNBC, Nvidia, GTC, Guggenheim Locations: Rivian

Elsewhere, Goldman Sachs reiterated a buy rating on Nvidia and raised its price target on the high-flying semiconductor maker. Yet his price target sits at $225, implying an upside of 19.7% as he sees opportunity elsewhere. "Anyone pulling up a chart of UBER share price performance in 2023 will think, 'That's a scary chart. Analyst Sarah James upgraded the insurer to overweight from neutral and hiked her price target o $372 from $334. — Alex Harring 5:42 a.m.: Goldman hikes Nvidia price target Things continue to look up for Nvidia , according to Goldman Sachs.

Persons: Goldman Sachs, Piper Sandler, Alexander Potter, Potter, Tesla, Alex Harring, Bernstein, Uber, Nikhil Devnani, Devnani, — Alex Harring, Keith Horowitz, Horowitz, Cantor Fitzgerald Cigna, Cantor Fitzgerald, Sarah James, James, Ben Hendrix, Hendrix, Christopher Horvers, Horvers, Barbie, Goldman, FY4Q, Toshiya Hari, Fred Imbert Organizations: CNBC, JPMorgan, Mattel, Nvidia, Citi, Investors, Citizens, Financial, New York Community Bancorp, Aozora, T Bank, RBC Capital, Warner Bros, Golden Globes, Microsoft Locations: California, New, Friday's

☆ Evercore ISI says scoop up these tax loss 'leftovers' that are trading cheaply at year-end
▼ + stars: | 2023-11-27 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Analyst Julian Emanuel said investors should consider snapping up stocks that Evercore ISI calls "tax loss targets." Such stocks are being sold by investors looking to realize their losses and cut their 2023 tax bill before year-end. The average analyst has a buy rating and price target implying upside of about 32%, according to LSEG. The average analyst has a buy rating on the stock with a price target reflecting upside of nearly 39%, per LSEG. In addition to holding an average buy rating, analysts polled by LSEG forecast a price target implying Corteva could rally nearly 26% over the next year.

Persons: Julian Emanuel, Emanuel, there's, Aptiv, Piper Sandler, FactSet, Alexander Potter, LSEG, OkCupid, — CNBC's Michael Bloom Organizations: ISI, Pfizer, Aptiv, CNBC Pro, Wall, LSEG Locations: Israel

☆ Analysts believe Rivian is turning around, Goldman sees 40% upside
▼ + stars: | 2023-11-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Rivian shares, meanwhile, are up 9% this month. What analysts are saying Goldman analyst Mark Delaney raised his price target by $2 to $25, implying shares can gain 43.5% from Tuesday's close. "If we gain more conviction in the timing/path to profitability we could be more positive on the stock," Delaney said. RIVN YTD mountain Rivian stock. He still raised his price target by $5 to $24, which implies shares can gain 37.8% over the next 12 months.

Persons: Goldman Sachs, Morgan Stanley, Rivian, Tesla, Ford, Goldman, Mark Delaney, Delaney, Chris McNally, McNally, Wells, Colin Langan, …, Langan, Piper Sandler, Alexander Potter Organizations: General Motors, Ford, Tesla, ISI Locations: North America, Tuesday's, Wells Fargo, Georgia, U.S

He also lowered his price target by $6 to $120, implying just 3.9% upside from Tuesday's close. Analyst Shaun Kelley has a $40 price target on shares, implying shares could gain 11.4% from Tuesday's close. Rivian shares jumped more than 7% after the company increased its production forecast for the full year by 2,000 units to 54,000. Datadog shares have produced zero return over the past three years, Murphy noted, with shares down 9% since Oct. 15, 2020. UBS has a neutral rating on Apple and a price target of $190 per share, which implies upside of 4.5%.

Persons: Cowen downgrades Estee, TD Cowen, Estee Lauder, Oliver Chen, Chen, — Hakyung Kim, Shaun Kelley, Kelley, Goldman, Goldman Sachs, Neil Mehta, Mehta, There's, Colin Langan, Langan, Piper Sandler, Alexander Potter, Potter, Rivian, Mark Delaney, Morgan Stanley, Jonas, Mark Murphy, Murphy, David Vogt, Vogt, Fred Imbert Organizations: CNBC, Tech, UBS, JPMorgan, Revenue, Asia, Bank of America, Industry, Mehta ., Wall Street, Rivian, pullbacks, Pro, Pro Max, Apple Locations: China, Asia Pacific, Europe, Middle East, Africa, Tuesday's, U.S

☆ Instacart IPO banks tout e-grocery shopping potential, but challenges loom
▼ + stars: | 2023-10-16 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

REUTERS/Cheney Orr/File Photo Acquire Licensing RightsOct 16 (Reuters) - Most Wall Street brokerages, including J.P.Morgan and Goldman Sachs, kicked off coverage on Instacart (CART.O) with a bullish view, betting on the grocery delivery app's growth amid a shift to online shopping. The stock — following a lukewarm debut in September — closed at $25.57 on Friday, below its $30 initial public offering (IPO) price. At least half of Instacart's 20 IPO underwriters have initiated coverage with their top ratings after the quiet period ended. Instacart's slow growth compared to rivals is a top concern, as a reduction in food stamp benefits and a shift back to in-store shopping could limit GTV growth, according to Piper Sandler analyst Alexander Potter. As of Friday, the six brokerages that were not involved in the IPO started coverage with an average rating of "hold", LSEG data showed.

Persons: Eric Cohn, Cheney Orr, Goldman Sachs, —, Baird, Colin Sebastian, Scott Devitt, Justin Post, Piper Sandler, Alexander Potter, Savyata Mishra, Shilpi Majumdar Organizations: Safeway, REUTERS, J.P.Morgan, underwriters, Walmart, Wedbush, BofA Global Research, Thomson Locations: Tucson , Arizona, U.S, Instacart, Bengaluru

Carvana's recent rally may be reaching its end, according to Piper Sandler. The company's shares rose more than 20% this week after Carvana announced better-than-expected second quarter results and an agreement to restructure approximately $5.2 billion in debt on Wednesday. However, Piper Sandler's long-term outlook on the company's share in the used vehicle market remains unchanged. Analyst Alexander Potter downgraded shares to neutral from overweight. "Chasing the stock higher would necessitate an upward revision to CVNA's long-term used vehicle market share expectations, which we do not believe recent results substantiate," Potter added.

Persons: Piper Sandler, Carvana, Piper Sandler's, Alexander Potter, Potter, RBC's Brad Erickson, —, Michael Bloom

☆ Elon Musk is giving Tesla shareholders reason for bullishness after his big Twitter announcement
▼ + stars: | 2023-05-15 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Wedbush maintained its outperform rating for Tesla, and shared a 12-month price target of $215, or about 27% higher than the current share price. The long wait times for vehicles, according to Piper Sandler, is a bullish sign because it means demand is robust. "The answer is complex, because wait times don't solely reflect consumers' appetite for buying Teslas vs. other cars." In effect, the lengthy wait times should be "interpreted favorably," in Potter's view. Piper Sandler's price target for Tesla is $280 a share, or more than 65% higher from current levels.

☆ Piper Sandler analyst sees something he likes with Tesla wait times, reiterates call for 65% rally
▼ + stars: | 2023-05-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

There's a bullish sign in the latest wait times for Tesla's Model Y vehicles, according to Piper Sandler. Tesla dropped prices on its vehicles several times this year, with its base Model Y sticker price dropping about 20%. The increase in wait times hints at rising demand for the vehicle, although it isn't the only factor, Potter said. "In recent weeks, investors have been asking us why wait times haven't responded more noticeably to Tesla's price cutting campaign. Wait times can also reflect the company's production rate and the market-wide demand for all kinds of cars, the analyst noted.

☆ Piper Sandler downgrades this electric vehicle maker, says it will struggle with high costs
▼ + stars: | 2023-04-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Piper Sandler thinks electric vehicle maker Rivian needs to address funding headwinds to compete with Tesla. Piper also slashed its price target to $15 per share from $63 per share. Potter added that, for Rivian to improve its cash burn, the company must address high costs associated with controlling every aspect of vehicle production from start to finish — as rival Tesla does. The firm's downgrade largely stems from Piper Sandler evaluating Rivian at book value as opposed to a valuation based on discounted cash flow. "Given cash constraints and disobliging capital markets, we think most investors are currently unwilling to pay for RIVN's long-term prospects," Potter said.

☆ Tesla stock tumbles 5% after the EV maker cuts prices again
▼ + stars: | 2023-04-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Tesla stock fell as much as 5% on Monday following news of more price cuts for electric vehicles. The EV maker announced over the weekend that it will reduce vehicle prices by as much as $5,000. Others are using it to support forecasts that Tesla stock isn't attractive to buy at current levels. Still, earlier price cuts from Tesla helped boost vehicle sales, as it reported a 36% increase in first-quarter deliveries last week. In April so far, Tesla stock has dropped roughly 14%, following the 68%-gain it made through the first three months of 2023.

☆ Piper Sandler upgrades Uber, says rising car prices will boost ride-sharing
▼ + stars: | 2023-01-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The outlook for Uber has improved, and that should lead to a better stock performance in 2023, according to Piper Sandler. Analyst Alexander Potter upgraded shares to overweight from neutral, saying rising inflation will spur consumers to favor ride-hailing to purchasing expensive cars. As a result, we think cash-strapped consumers will increasingly opt to hail rides instead of trying to replace old cars," Potter wrote in a Sunday note. Shares of Uber dropped 41% in 2022, falling for a second consecutive year, as rising interest rates dented the growth prospects of many tech companies. And while used car prices have 'rolled over', the REAL price of buying a used car is still rising (at least if financed using a loan)," read the note.

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☆ Tenbagger stocks that Wall Street believes can keep the big returns going
▼ + stars: | 2022-11-03 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Wall Street expects these "tenbagger" stocks that enjoyed a meteoric rise over the past decade to continue their big gains. The term was first coined by legendary investor Peter Lynch, an avid baseball fan who compared a stock's growth prospects to two home runs and a double in the sport. With that in mind, CNBC Pro searched for tenbagger stocks from the past decade that analysts believe will continue to make outsized gains. What's more, they have a 2022 estimated earnings per share growth rate of more than 20%, and an estimated annual long-term EPS growth rate of more than 20%. Its 2022 earnings per share growth estimate is 66%, while its annual long-term share growth is forecasted to be 26%.

☆ Analysts are split over where Tesla goes from here after its latest quarterly results
▼ + stars: | 2022-10-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Analysts are divided over the near-term and future trajectory of Tesla shares after the electric vehicle company posted mixed third-quarter results. Piper Sandler's Alexander Potter attributed much of the move to the company's gross margins — which came in at 27.9%, slightly below some analysts' expectations. To be sure, not all analysts are convinced of Tesla's near-term investment thesis. Tesla's stock is down about 37% this year and sits more than 46% off its 52-week high. "TSLA posted strong Q3 results amidst continuing materials shortages and logistics volatility.

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