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☆ Wall Street stands by Meta even as costs rise and the stock sells off, cites AI leadership
▼ + stars: | 2024-04-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Wall Street analysts are standing by Meta Platforms despite Thursday's sell-off. The analyst cut his price target to $480 from $535 a share, noting that building and creating new products is no easy — or quick — feat. The adjusted price target reflects nearly 3% downside from Wednesday's close. Morgan Stanley analyst Brian Nowak retained his overweight rating and $550 price target, saying the firm remains "buyers through Meta's investments." Meta isn't alone in this feat, with Nowak expecting competitors to undertake similar steps as more AI opportunities arise.

Persons: Doug Anmuth, Benjamin Black, Black, Citi's Ronald Josey, Goldman Sachs, Eric Sheridan, Morgan Stanley, Brian Nowak, Meta isn't, Nowak, Bank of America's Justin Post, Ross Sandler, Mark, Zuckerberg, Sandler Organizations: Meta, Facebook, Deutsche Bank, Bank of America's, Barclays

Analyst Edward Kelly upgraded the discount retailer to overweight from equal weight and opened a $180 price target. Yefremov's $400 price target indicates shares can jump 31.7% from Wednesday's closing price. Analyst Andrea Teixeira downgraded the energy drink maker to neutral from overweight and cut her price target by $7 to $59. — Alex Harring 5:38 a.m.: Wall Street reacts to Meta earnings Meta Platforms disappointed investors with its weak revenue guidance , sending shares down about 13% in premarket trading. His price target of $55 implies upside of 22% over the next 12 months.

Persons: Bernstein, Wells, Edward Kelly, shrinkflation, Kelly, — Alex Harring, Sherwin, Williams, Aleksey Yefremov, Yefremov, Doug Creutz, Creutz, Judas, Goldman, bullish, Goldman Sachs, Brooke Roach, Roach, Andrea Teixeira, Alex Harring, Ford, Wells Fargo, Colin Langan, Langan, LSEG, Eric Sheridan, Brian Nowak, Morgan Stanley, Doug Anmuth, Ronald Josey, Daniel Roeska, Roeska, General Motors, Fred Imbert Organizations: CNBC, General Motors, Traders, Grand Theft, Sony, Electronic Arts, TJX, TJX Companies, JPMorgan, Monster Beverage, Ford, Ford Pro, Facebook, Meta, Citi, mojo, General, GM Locations: Wells Fargo, Thursday's, Wednesday's, Michigan

☆ These are Morgan Stanley's top picks into quarterly earnings
▼ + stars: | 2024-04-17 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

As earnings season picks up steam, Morgan Stanley has named a group of stocks that could see a jump on quarterly results. Nvidia has climbed more than 70% in 2024, and the chipmaker is set to report quarterly results on May 22. Analysts polled by FactSet forecast earnings per share of $5.56 on revenue of $24.46 billion in the fiscal first quarter. Analysts have upwardly revised their earnings estimates on Nvidia by 17% over the past three months, according to FactSet data. Amazon has added 19% in 2024, and the company will report quarterly results on April 30.

Persons: Morgan Stanley, Michelle Weaver, Joseph Moore, Moore, Brian Nowak, Nowak Organizations: Amazon, Nvidia, Wall, Analysts, North Locations: North America

Meanwhile, Canaccord Genuity initiated Coty with a buy rating and a price target that implied more than 30% upside. The firm initiated coverage of the restaurant chain stock with an equal weight rating and a $58 per share price target. The firm upgraded shares of the health technology company to buy from hold in a Sunday note and increased its target price to $178 from $140. The firm downgraded the computer peripherals maker to underweight from equal weight and lowered its price target to $75 per share from $85. The firm initiated coverage of the online forum stock with an equal weight rating and a $45 per share price target.

Persons: Morgan Stanley, Canaccord Genuity, Coty, Cava's, Jeffrey A, Bernstein, — Brian Evans, Jensen Huang, Atif Malik, Raimo Lenschow, Brian Evans, Masimo, MASI, Rick Wise, Logitech Morgan Stanley, Morgan Stanley's, Erik Woodring, Reddit, Morgan, Brian Nowak, Nowak, Canaccord, Susan Anderson, Anderson, COTY, Fred Imbert Organizations: CNBC, Barclays, Cava, Citi, Nvidia Citi, Nvidia, NVIDIA, Microsoft, Logitech, Coty, COTY Locations: Friday's, Cava, Taiwan, U.S

☆ Major firms like Goldman and JPMorgan cool on Reddit stock post-IPO
▼ + stars: | 2024-04-15 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

A slate of major Wall Street firms has begun coverage of Reddit – and some of them see the stock's gains moderating from here. He rated the company neutral and gave it a price target of $47, anticipating 11% upside from Friday. Sheridan's 12-month price target of $40 was one of the lowest on Wall Street and implies that shares could slide 5% from here. Morgan Stanley had a slightly more optimistic price target of $45, corresponding to a roughly 6.5% gain. Citi analyst Ronald Josey's price target of $53 — which forecasts 25% upside — is among one of the highest on the Street.

Persons: Reddit, Doug Anmuth, JPMorgan's Anmuth, Goldman Sachs, Morgan Stanley, Goldman, Eric Sheridan, Brian Nowak, Ronald, Josey, Benjamin Black Organizations: Bank of America, Citi, Deutsche Bank

☆ A chance to 'differentiate' its offering: What analysts expect from Google's cloud event
▼ + stars: | 2024-04-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Alphabet 's cloud event Tuesday could provide a much needed sentiment lift to investors fretting about the search giant's artificial intelligence potential, according to some Wall Street analysts. "With unique AI assets, including proprietary infrastructure and an advanced LLM model, we believe Google cloud has an opportunity to differentiate its cloud offering, improving market share and street sentiment," wrote Bank of America's Justin Post. This week's event, however, could mark a turnaround in the right direction and help lift sentiment toward the company's AI developments. Morgan Stanley's Brian Nowak also highlighted the event as one of five potential catalysts for the stock through the beginning of June. The firm is on the lookout for more examples of how the cloud is benefitting from the AI transformation, he said.

Persons: of America's Justin Post, Post, Morgan Stanley's Brian Nowak, Nowak Organizations: of America's, Nvidia, Microsoft, Wall, Rivals, Google Locations: U.S, Monday's, durably

Morgan Stanley raised its price target on Ford after the company reassessed its electric vehicle strategy. That "paints path to ~$230-$290 stock price as we argue AMZN could warrant an even higher multiple in this scenario," he added. — Michelle Fox 7:38 a.m.: Evercore hikes Disney price target, points out near-term catalysts Walt Disney has a bright near-term outlook, according to Evercore ISI. In addition to cutting his price target, Harned also pulled down his outlook for free cash flow and deliveries. — Alex Harring 5:48 a.m.: KeyBanc raises Nvidia price target There's no slowing down Nvidia , according to KeyBanc.

Persons: Morgan Stanley, KeyBanc, Brian Nowak, Jon Tower, — Michelle Fox, Walt Disney, Vijay Jayant's, Jayant, Bob Iger, — Lisa Kailai Han, David Palmer, Palmer, Uber, — Alex Harring, Bernstein, Douglas Harned, Harned, Dave Calhoun, Alex Harring, Anthony Chukumba, Chukumba, selloff, Ross Seymore, Seymore, TD Cowen, Doug Anmuth, Anmuth, there's, John Blackledge, Blackledge, Jason Bazinet, Bazinet, There's, Goldman, Goldman Sachs, Kate McShane, McShane, BJ, Mark Strouse, Strouse, Adam Jonas, Jonas, Ford, John Vinh, Vinh, Fred Imbert Organizations: CNBC, Monday's, Ford, Nvidia, Amazon, Citi Citi, Grill, ISI, Disney, India's Reliance Industries, Reliance Industries, Netflix, Hulu, Boeing, Dow Jones, Capital, Loop Capital, Deutsche Bank, Broadcom, VMWare, JPMorgan, Citi, BJ's Wholesale, GE, GE Vernova Locations: Michigan, Alaska, F1Q, California, The Massachusetts, Friday's, China

☆ It's time to buy DoorDash after a post-earnings sell-off, Morgan Stanley says
▼ + stars: | 2024-02-22 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Now's a good time to gain exposure to DoorDash , according to Morgan Stanley. Investors were concerned by DoorDash's larger-than-expected loss per share, as well as whether the company can achieve its forward guidance. DASH 1M mountain DoorDash shares over the last month Despite the pullback, Morgan Stanley is confident in the company's growth runway. "DASH's micro-level execution (growth and profitability) within its highly-competitive verticals is what drives us to Overweight," Nowak wrote in a Thursday note. DoorDash is also expected to reach GAAP profitability in 2024, per Nowak.

Persons: Morgan Stanley, Brian Nowak, Nowak Organizations: DASH's Locations: U.S

☆ Tech's longtime highfliers are growing up by getting smaller
▼ + stars: | 2024-02-02 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

They're still out hunting for the best technical talent, particularly in areas like artificial intelligence, but headcount growth is measured. Last year, tech companies were responding to dramatically changing market conditions — soaring inflation, rising interest rates, rotation out of risk — after an extended bull market. Meta slashed over 20,000 jobs in 2023, Amazon laid off more than 27,000 people, And Alphabet cut over 12,000 positions. Other than Nvidia , which had a banner 2023 due to soaring demand for its AI chips, none of the other mega-cap tech companies have been growing at their historic averages. By late this year, analysts are projecting growth at Meta will be back down to the low teens at best.

Persons: Tayfun, There's, Daniel Flax, Neuberger Berman, CNBC's, Morgan Stanley, Brian Nowak, Brian Olsavsky, They're, Mark Zuckerberg, Zuckerberg, Olsavsky, Phil Spencer, Justin Sullivan, Okta, Zuora, Evan Sohn, Recruiter.com, " Sohn, Susan Li, Ben Barringer, Cheviot, Barringer, —, Annie Palmer Organizations: Anadolu Agency, Getty Images Technology, Amazon, Meta, hasn't, Microsoft, Activision Blizzard, SAN FRANCISCO, Activision, FTC, Getty, Federal, Labor Department's Bureau of Labor Statistics, Tech, Nvidia, Finance, CNBC Locations: Menlo Park , California, Silicon Valley, CALIFORNIA, San Francisco , California

Elsewhere, Bank of America raised its price target on Nvidia, calling for more than 25% upside. 7:07 a.m.: Deutsche Bank deals latest blow to regional bank after earnings disappoint Deutsche Bank joined the post-earnings dogpile on New York Community Bank . Analyst Bernard von-Gizycki downgraded the regional bank to hold from buy and slashed to price target to $7 from $15. Analyst Alicia Yap upgraded the consumer internet stock to buy from neutral and raised her price target by $6 to $50. — Alex Harring 5:45 a.m.: Bank of America hikes Nvidia price target Don't expect Nvidia to lose momentum anytime soon, according to Bank of America.

Persons: Goldman Sachs, Bernard von, Gizycki, — Alex Harring, There's, Alicia Yap, Sea's, Shopee, Alex Harring, what's, Tim Cook, Brandon Nispel, AAPL's, AAPL, Morgan Stanley, Erik Woodring, we're, Tim Long, Piper Sandler, Harsh Kumar, Meta, Ross Sandler, Benjamin Black, Mark Kelley, Bernstein, Mark Shmulik, LSEG, Rufus, Eric Sheridan, Brian Nowak, outsized, Brad Erickson, Vivek Arya, Fred Imbert Organizations: CNBC, Apple, Bank of America, Nvidia, Deutsche Bank, New York Community Bank, von, Investors, Traders, Citi, Nasdaq, Conference, Barclays, Vision, Meta, Wall Street, Amazon, RBC Capital, Enterprise, SAP, VMWare, Dell Locations: Wall, New, Thursday's, Friday's premarket, China, genAI, CY25

☆ Morgan Stanley's equity analyst just struck a cautious tone on Alphabet. Here's why
▼ + stars: | 2023-11-17 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Speaking at the investment bank's Asia-Pacific Summit 2023 in Singapore, he said that Alphabet has "less significant upside estimates." GOOGL YTD mountain Year-to-date shares of Alphabet Morgan Stanley has cut its target price on Alphabet by around 3%, citing expectations of higher operating expenses and a dip in revenue from key segments. Its previous target price was $155. Meanwhile, its bear case is reflected with a price target of $90 and would follow a slowdown in global ad growth and margin pressures. Of the 56 analysts covering Alphabet, 82% have a buy or overweight call on the stock, at a mean target price of $152.77, according to FactSet.

Persons: Morgan Stanley, Brian Nowak, CNBC's, Nowak, Bard, Google's, Alphabet Morgan Stanley, Morgan, —, Isabella Lok Organizations: Meta, Apple, Microsoft, Nvidia, Google, Google's Gemini, Alphabet, YouTube, Cloud, SBC Locations: Asia, Singapore

☆ 'Pretty inexpensive': Morgan Stanley bullish on one Big Tech stock, says it looks cheap on some metrics
▼ + stars: | 2023-11-16 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Shares of tech giant Meta Platforms are set to jump over 10% in the next 12 months, according to Brian Nowak, an equity analyst at Morgan Stanley. While Meta has been on investors' radars, the stock was under pressure last month during a recent tech sell-off. META YTD mountain Year-to-date share price of Meta Going forward, Nowak remains overweight on the tech giant. Nowak also believes the tech giant's strength comes from the discipline on its operating expenditure. It will also result in incremental Reels ad revenue of $11.4 billion in 2024 and $12.9 billion in 2025, the analysts led by Nowak detailed.

Persons: Brian Nowak, Morgan Stanley, Susan Li's, –, Li, Nowak, CNBC's, —, Isabella Lok Organizations: Meta, Apple, Microsoft, Nvidia, Tesla, Facebook Locations: U.S

☆ Who will be the AI winners of 2024? Morgan Stanley names its favorites
▼ + stars: | 2023-11-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Morgan Stanley thinks Meta Platforms is the "cleanest" generative artificial intelligence play in 2024 as the bank focuses on return on invested capital (ROIC) in its AI stock coverage into next year. Analysts led by Brian Nowak assembled a list of potential AI stock winners for 2024, extending from large caps down to smaller companies that offer similarly bullish outlooks. "AI investments, testing and early capabilities continue to grow across the sector," Morgan Stanley wrote. Among smaller stocks, Uber Technologies was also recommended by Morgan Stanley, which has an overweight rating on the ride-sharing provider. "Uber's scale and liquidity gives drivers higher earnings power and riders lower wait times," Morgan Stanley wrote.

Persons: Morgan Stanley, Brian Nowak, Nowak, Monday's, — CNBC's Michael Bloom, Scott Schnipper Organizations: Wall, Nvidia, Microsoft, Facebook, Technologies

☆ Morgan Stanley says consumers looking for 30% discounts on holiday shopping before buying, sell retail stocks
▼ + stars: | 2023-11-09 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Morgan Stanley highlighted several companies that are prepared to withstand — and even benefit from —consumers' shifting preferences this holiday season, as inflationary pressures dampen shoppers' budgets this quarter. According to Morgan Stanley's proprietary monthly survey, most holiday shoppers are looking to see 30% discounts, on average, before they begin spending this holiday season. A strong holiday season should benefit the entire airline industry given the ongoing demand for air travel among consumers across income brackets, according to Morgan Stanley. "Durable goods spending has slowed and that is expected to continue into the holiday season," Wilson said in the note. Toys could emerge as "relative winner" this season as they become a more top-of-mind purchase for parents during the holiday season, analyst Megan Alexander wrote.

Persons: Morgan Stanley, Michael Wilson, Morgan, They're, Ravi Shanker, Wilson, Amazon's, Brian Nowak, Lauren Schenk, Chewy, Morgan Stanley's, Alex Straton, Megan Alexander Organizations: Consumers, Delta Airlines, American Airlines and United Airlines, Southwest Airlines, Alaska Air Group, Apparel, Urban Outfitters, Abercrombie, Fitch Locations: Delta, U.S

☆ Why some Wall Street analysts say to consider buying the post-earnings dip in Meta Platforms
▼ + stars: | 2023-10-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Wall Street analysts are standing by Meta Platforms despite the post-earnings sell-off, with some recommending using the pullback to scoop up the stock. "Let's be clear, there's still a lot to get excited about," said Bernstein analyst Mark Shmulik. META 1D mountain Meta shares slump post-earnings Shares were last down about 4%. "We believe Meta continues to execute well & remains disciplined, and we would be buying the pullback in Meta shares," said JPMorgan's Doug Anmuth. "While all advertising may be impacted by geopolitical activity, advertising allocation remains a relative game and we believe META's differentiation gap is widening vs most peers," he said.

Persons: Bernstein, Mark Shmulik, Meta, Doug Anmuth, Ronald Josey, Evercore, Mark Mahaney, Ross Sandler, Morgan Stanley's Brian Nowak, — CNBC's Michael Bloom Organizations: Meta, Facebook, Wall Street, Tech, Barclays

☆ Google considers subscription business models for its new AI offerings
▼ + stars: | 2023-10-25 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

The CEO said subscription business models are "a possible path" for Google's AI products. AdvertisementAdvertisementGoogle CEO Sundar Pichai suggested the company could embrace subscription business models for some of its new AI products. With AI, the CEO said there's an opportunity to evolve Search and the Google Assistant service over the next decade. Wall Street is nervous about any big changes to Google Search because Search ads are so lucrative. Google's "other" revenue rose 21% year-on-year in the third quarter, led by strong growth in YouTube subscription revenue.

Persons: Pichai, Bard, —, Sundar Pichai, Morgan Stanley, Brian Nowak, Nowak, Google Bard, there's, they're Organizations: Service, Google, YouTube, NFL, NFL Sunday

☆ Wall Street wants to know how Google's going to profit from AI
▼ + stars: | 2023-10-24 | by ( Jennifer Elias | ) www.cnbc.com time to read: +5 min

In the age of AI hype, few companies have used the word "AI" more than Google. Now, Wall Street wants know how it'll turn the hyped tech into dollars and cents. With SGE, Pichai said it'll be able to include "a wider range of sources on the results page, creating new opportunities for content to be discovered." Pichai added that with AI, he sees the opportunity to "evolve search and assistant for the next decade ahead." "It's probably the ultimate example of AI," Pichai said in response to Sheridan's question.

Persons: Bard, Lloyd Walmsley, Pichai, Brian Nowak, Morgan Stanley, Nowak, it'll, Philipp Schindler, we're, Schindler, UBS's Eric Sheridan, execs, Max, Google's, It's Organizations: Google, Deutsche Bank, YouTube, CNBC, Samsung, Toyota

☆ More than 40% of labor force to be impacted by AI in three years, Morgan Stanley forecasts
▼ + stars: | 2023-10-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The growth of artificial intelligence soon could have some big implications for the labor market, according to Morgan Stanley. Today, Morgan Stanley pegs the AI impact at $2.1 trillion — affecting 25% of labor. The projections from Morgan Stanley come amid a stellar run for artificial intelligence-related stocks in 2023. Should generative AI adoption among enterprise workloads hit 20% over the next three year, it poses a $150 billion global enterprise spending opportunity, Morgan Stanley projects. An artificial intelligence sign is seen at the World Artificial Intelligence Conference in Shanghai, July 6, 2023.

Persons: Morgan Stanley, Brian Nowak, Nowak, Aly Song Organizations: TAM, Public Cloud, Artificial Intelligence Locations: Shanghai

☆ Morgan Stanley says AI and gig work could add $400 billion to the economy by 2030. Here are the 4 buy-rated stocks that will benefit, and the brands that could be challenged.
▼ + stars: | 2023-09-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

A survey conducted by the investment bank showed that younger or college-educated respondents believed that generative AI could help alleviate some of these gaps. The survey also showed that AI tools are making gig work more profitable. Those turning to the technology reported a 21% boost in income from using generative AI relative to their peers who didn't use it. Amazon (AMZN) is helping lay the foundation for developers and enterprises to build generative AI applications through its platform Bedrock, accessible through its web services cloud. Below is an extended table that shows the brands Morgan Stanley believes will benefit or be challenged by the intersection of gig work and generative AI.

Persons: Morgan Stanley, Gen Z, X, Gen, Morgan Stanley's, they've, Morgan, Keith Weiss, Phillips, Brian Nowak, Gary Yu, Yu Organizations: IBM Locations: Bridgewater, Booking.com

☆ How one tech giant could have up to 60% upside from here, according to Morgan Stanley
▼ + stars: | 2023-09-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Amazon still has room to run as it drives profit back to pre-pandemic levels, according to Morgan Stanley. Analyst Brian Nowak rated Amazon a "top pick" and maintained his overweight rating on the stock. He also kept his price target of $175 on shares, which implies 20.8% upside from Wednesday's closing price of $144.85. "If this 'efficiency upside' plays out, our peer [price/earnings-to-growth] analysis shows how AMZN shares could have 20-60% upside from here." Increased discipline on content spend, which the analyst said can quickly result in billions of retail profit upside.

Persons: Morgan Stanley, Brian Nowak, Nowak, — CNBC's Michael Bloom Organizations: Amazon, Big Tech

☆ This mega-cap tech hitting a 52-week high is proving to be the next big AI play after Nvidia
▼ + stars: | 2023-08-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Alphabet shares hit a 52-week high Tuesday after showcasing its AI and machine learning capabilities at its annual Cloud Next event. Bank of America's Justin Post said the search company was "flexing its AI muscle," adding that its AI capabilities are a major customer selling point and should be a positive driver for the stock. Along with the hardware updates, Alphabet revealed pricing for a suite of AI-powered tools for enterprise customers. At $30 a month, Citi's Ronald Josey called the contribution "material over time," and said the event should mitigate any "remaining overhangs" on Google's Cloud AI capabilities. Correction: Google shares recently hit a 52-week high.

Persons: Morgan Stanley, Brian Nowak, Nowak isn't, Bank of America's Justin Post, Citi's Ronald Josey, Justin Patterson, Doug Anmuth Organizations: Nvidia, Microsoft, Bank of America's, KeyBanc Capital, Google

☆ Google to begin selling maps data to companies building solar products, hopes to generate $100 million in first year
▼ + stars: | 2023-08-28 | by ( Jennifer Elias | ) www.cnbc.com time to read: +4 min

Among the new offerings will be a Solar API, which could be used by solar installers like SunRun and Tesla Energy and solar design companies like Aurora Solar, according to a list of example customers viewed by CNBC. Some of the data from the Solar API will come from a consumer-focused pilot called Project Sunroof, a solar savings calculator that originally launched in 2015. It also offers 3D modeling of the roofs of buildings and nearby trees based on Google Maps data. At the time, Morgan Stanley had estimated Google Maps would earn $11.1 billion by this year as new travel products and promoted pins began to increase ad revenue. In June, CNBC found the company was laying off employees at traffic-reporting app Waze, which it acquired in 2013, and combining it with the Google Maps team.

Persons: There's, it's, Morgan Stanley, Brian Nowak Organizations: CNBC, Tesla Energy, Google, Marriott, Amazon, Microsoft

☆ Where Uber's climate and autonomous driving goals will meet in the future
▼ + stars: | 2023-08-24 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

"For most of our history, profitable wasn't the first thing that came up when you asked someone about Uber," Khosrowshahi said on Uber's second-quarter conference call Aug. 1. The $1 a ride alone can add up to $4,000 to a driver's annual revenue, the company says. All of them will compete for customers on Uber's platform much as hotels search for business on Expedia.com – a business once run by Khosrowshahi. Indeed, one threat to Uber's current status as a market darling is if AV makers, especially Tesla, decide to compete with Uber directly for riders, Zino said. Khosrowshahi told Sellers that 10-20% of Uber drivers may soon be robots, but said he still thinks more people will be driving for Uber than there are today.

Persons: Angelo Zino, Uber, Savannah, Khosrowshahi, Dara Khosrowshahi, Zino, Scott Devitt, Morgan Stanley's Brian Nowak, undercharging, They've, Devitt, –, Hertz, That's, Tracy Lynn Young, Tesla, they've, Cruise, AVs, Sellers Organizations: GM, General Motors, Ideas, Uber Technologies, Aurora, Wedbush Securities, Hyundai, Tesla, EVgo, EVs, TrueCar.com, Uber, CNBC, Hertz, Waymo, Cruise, Khosrowshahi Locations: California, San Francisco, Pittsburgh, Hyundai Kona, London, U.S, North America, Atlanta

☆ Amazon just posted a blowout second-quarter report. What analysts are saying
▼ + stars: | 2023-08-04 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

AMZN 1D mountain Amazon popped after strong earnings JPMorgan's Doug Anmuth reiterated an overweight rating on Amazon and raised his price target to $180 price target, implying roughly 40% upside from Thursday's $128.81 close. Anmuth said on Friday that the second-quarter results and third-quarter outlook will help lift shares higher, and also pointed to strength in Amazon Web Services. Goldman Sachs analyst Eric Sheridan also hiked his price target to $180 from $165, keeping his buy rating on the stock. Bank of America's Justin Post, meanwhile, raised his price target to $174 from $154, implying a 35% gain from Thursday's close. Morgan Stanley's Brian Nowak increased his price target on Amazon to $175 to $150 and reiterated his overweight rating.

Persons: Doug Anmuth, Anmuth, AMZN, Goldman Sachs, Eric Sheridan, Sheridan, headwinds, Bank of America's Justin Post, Citi's Ronald Josey, Josey, Morgan Stanley's Brian Nowak, Nowak, Michael Bloom Organizations: Wall, Amazon, Web Services, Bank of America's, Amazon Web Services, 3Q Locations: Thursday's

☆ Here's the trade on Amazon heading into earnings, according to analysts
▼ + stars: | 2023-08-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Wall Street analysts are bullish on Amazon heading into earnings. Here's how several analysts are trading Amazon ahead of its latest earnings report. Bank of America is also bullish, maintaining its buy rating and $154 price target into earnings, which suggests roughly 20% upside. "We continue to see an attractive set-up on the stock based on our Triple Trough Thesis (trough multiple, trough margin, and trough revenue growth). On Monday, the firm reiterated its buy rating and $145 price target, which suggests 13% upside from Wednesday's close.

Persons: StreetAccount, Morgan Stanley, Brian Nowak, Nowak, Lloyd Walmsley, Walmsley, Justin Post, Amazon's, Mark Mahaney's, Mahaney, — CNBC's Michael Bloom Organizations: Amazon Web Services, UBS, Bank of America, AWS, Triple, Citi Locations: 1Q23

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