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(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. Meanwhile, Goldman Sachs noted Tesla and Rivian need to be careful when cutting prices. He increased his price target by $20 to $220, however, suggesting shares could shed 7.4% from Monday's close. Baird's $1,050 price target suggests shares can still climb more than 23%. His Tesla target of $220 implies upside of 17%, while his $13 forecast on Rivian points to a 19% gain from here.

Persons: Baird, Goldman Sachs, Tesla, Williams, Anthony Chukumba, Chukumba, — Pia Singh, Ranjan Sharma, Sharma, Morgan Stanley downgrades Sunnova, Morgan Stanley, Andrew Percoco, Percoco, Tristan Gerra, Gerra, Goldman, Mark Delaney, Delaney, Fred Imbert Organizations: CNBC, Nvidia, JPMorgan, Free Fire, NOVA, Amazon, Meta, Google Locations: Williams, Sonoma, Monday's, Tuesday's premarket

☆ First Solar jumps on strong quarter, record backlog in rare bright spot for beaten-down renewable sector
▼ + stars: | 2024-02-28 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

First Solar shares jumped Wednesday after reporting another solid quarter, with the company booked solid through 2026 and an order backlog that stretches into the end of the decade. First Solar is one of the few companies that has weathered the sharp downturn in the solar sector. JPMorgan has a price target of $226 for the stock, implying about 56% upside from Tuesday's close. Goldman Sachs lowered its price target for First Solar to $265 from $275 prior despite the company's strong quarter. The investment bank said solar module oversupply and potential changes to U.S. tax credits are key risks for First Solar moving forward.

Persons: Morgan Stanley, Andrew Percoco, Mark Strouse, Corinne Blanchard, Blanchard, Alexander Bradley, Mark Widmar, Goldman Sachs Organizations: Solar, JPMorgan, Deutsche Bank, Deutsche Locations: Perrysburg , Ohio, India, Europe

A railroad stock and a fast food giant were in focus Wednesday among early analyst calls. Barclays raised its rating on Norfolk Southern to a buy-equivalent rating, and his new price target calls for about 20% upside. The firm downgraded the retailer to reduce from hold and maintained a $323 per share price target. — Brian Evans 5:44 a.m.: Barclays upgrades Norfolk Southern Norfolk Southern could see a shake-up to its leadership, and Barclays thinks these changes could lead to strong gains for the stock. He also hiked his price price target to $305 from $255.

Persons: SolarEdge's, Morgan Stanley, Andrew Percoco, Goldman Sachs, Brian Lee, SEDG, Vikram Bagri said.Bagri, — Brian Evans, Piper Sandler, Piper Sandler's, Rob D, Owens, Brian Evans, Daniela Bretthauer, John Ivankoe, Brandon Oglenski, Ancora, It's, Alan Shaw, Oglenski, Fred Imbert Organizations: CNBC, Barclays, Norfolk, JPMorgan, Palo Alto Networks, billings, Palo Alto, HSBC downgrades Home, Depot, HSBC, Home Depot, JPMorgan downgrades, Norfolk Southern, NSC Locations: Wendy's, Norfolk Southern Norfolk Southern, Norfolk Southern, Norfolk

☆ AI is fueling global power demand. Morgan Stanley sees opportunities for these 'underappreciated' winners
▼ + stars: | 2024-02-01 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

Power demand from generative AI will soar from 46 terawatt hours to 224 TWH between this year and 2027, according to the firm's base case scenario. That's equivalent to more than 75% of the total global data center power use in 2022, or close to Spain's entire power consumption in 2022, the firm said. "We believe the rapid power demand growth from GenAI is not well understood, and not priced into a number of stocks." Among large-scale renewable developers in the U.S., AES has the largest commercial and industrial market share, according to Morgan Stanley. Apart from data center infrastructure and power providers, utilities are another part of the data center servicing ecosystem.

Persons: Morgan Stanley, Morgan Stanley's, Andrew Percoco, Bloom, Percoco, NextEra, Max Yates, Sharon Shih Organizations: CNBC, Bloom Energy, AES Corp, NextEra Energy, Google, Microsoft, Bank of America, AES, Big Tech, Stocks, Delta Electronics, Mitsubishi Electric, Analysts, Dominion Energy Locations: GenAI, U.S

Morgan Stanley raised its price target on General Motors. 6:56 a.m.: Morgan Stanley calls Bloom Energy a 'secular winner' Morgan Stanley reiterated its overweight rating on Bloom Energy , naming it an underappreciated AI beneficiary. The firm also maintained its $22 price target on shares, which suggests shares surging more than 94% from where they closed on Wednesday. — Hakyung Kim 6:14 a.m.: Morgan Stanley steps to the sidelines on ZoomInfo ZoomInfo Technologies is "unlikely to zoom into a recovery," according to Morgan Stanley. — Hakyung Kim 5:40 a.m.: Morgan Stanley raises GM price target A focus shift back to internal combustion engine vehicles can give General Motors another jolt higher, according to Morgan Stanley.

Persons: Morgan Stanley, Andrew Percoco, — Hakyung Kim, Antonio Reale, Reale, Hakyung Kim, Elizabeth Porter, Porter, Richard Choe, Choe, Jefferies, NYCB, Jon Arfstrom, Arfstrom, Christopher Danely, Danely, Bank of America's Tal Liani, Liani, Samik Chatterjee, Chatterjee, Adam Jonas, Jonas, — Fred Imbert Organizations: CNBC, General Motors, Qualcomm, Citi, Bloom, Bloom Energy, Bank of America, Santander Santander, Santander, ZoomInfo, JPMorgan, T, RBC, New York, Bancorp New, Bancorp New York Community, Bank, NYCB, Citi Citi, chipmaker Qualcomm, Samsung, Bank of America's, GM Locations: Spanish, Spain, Santander, Europe, U.S, Wednesday's, Bancorp New York

Thursday's analyst calls featured an upgrade to a car rental stock and a big downgrade to an airline. The bank also hiked his price target on the tech giant to $225 per share, implying upside of 23%. — Pia Singh 5:36 a.m.: Citi downgrades Spirit Airlines to sell Citi is throwing in the towel on Spirit Airlines . Week to date, Spirit shares are down nearly 60%. Spirit shares were down more than 4% in the premarket.

Persons: Morgan Stanley, Hertz, Andrew Percoco, Percoco, — Pia Singh, Wamsi Mohan, Fred Imbert, Kirk Materne, Materne, Dan Dolev, Dolev, he's, CFRA, Kenneth Leon, Berkshire Hathaway, Leon, Ranjan Sharma, Sharma, bode, Adam Jonas, Jonas, Morgan, Stephen Trent, Trent Organizations: CNBC, flipside, Citi, Spirit Airlines, JetBlue, Bank of America, Apple Bank of America, Apple, Microsoft, ISI, Activision, Activision Blizzard, Mizuho, Fidelity National Information Services, Paramount Global, RedBird Capital, Warner Bros ., Comcast, Paramount's, Showtime, Paramount, JPMorgan, Grab Holdings, Hertz Global Holdings, Jan, Citi downgrades Spirit Airlines, Spirit, Airlines Locations: Berkshire, 1H24, Wednesday's

☆ Morgan Stanley says buy this real estate name focused on sustainability after sell-off
▼ + stars: | 2023-10-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Hannon Armstrong 's improving fundamentals should lead to a turnaround for the stock, according to Morgan Stanley. Structured as a real estate investment trust, Hannon Armstrong provides renewable energy projects with debt and equity capital. HASI YTD mountain HASI YTD chart The analysts believe the selloff cannot be justified when given the company's strategic business decisions, along with its balance sheet flexibility and move toward an equity self-funding model. Additionally, Morgan Stanley noted that the sustainable investment firm's high cash flow can support steady dividends to come. Morgan Stanley isn't the only firm on Wall Street that likes Hannon Armstrong.

Persons: Hannon Armstrong, Morgan Stanley, Andrew Percoco, Hannon Armstrong's, HASI, Morgan Stanley isn't, Baird, — CNBC's Michael Bloom

☆ Morgan Stanley says this clean energy stock is a top pick that can nearly double from here
▼ + stars: | 2023-09-06 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

There are several promising tailwinds ahead for Bloom Energy , according to Morgan Stanley. The bank named the stock a top pick, reiterating reiterated its overweight rating on shares. It also maintained its $29 price target, implying shares could jump 92% from where they closed on Tuesday. Bloom Energy "is our Top Pick in clean tech, [and] a key beneficiary of several key themes," according to analyst Andrew Percoco. The analyst calculates shares trading at a 37% discount relative to its hydrogen peers, based upon 2025 enterprise value-to-sales numbers.

Persons: Morgan Stanley, Andrew Percoco, Percoco, — CNBC's Michael Bloom Organizations: Bloom Energy, Bloom

☆ US judge throws out two soccer bribery convictions
▼ + stars: | 2023-09-02 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Sept 2 (Reuters) - A U.S. judge has thrown out the convictions of a former Fox executive and an Argentine sports marketing company for attempting to bribe soccer officials in exchange for lucrative broadcasting contracts. In a Friday night decision, U.S. District Judge Pamela Chen in Brooklyn said the March 9 convictions of Hernan Lopez and Full Play Group could not stand because the federal law governing honest services wire fraud did not cover foreign commercial bribery. The judge also voided Lopez's and Full Play's money laundering convictions, because they were predicated on the fraud convictions. David Sarratt, a lawyer for Lopez, said: "We are obviously pleased with Judge Chen's thorough and correct decision. At least 31 people and corporate entities pleaded guilty, and two soccer officials were convicted in a 2017 jury trial.

Persons: Hernan Lopez, Brendan McDermid, Pamela Chen, Joseph Percoco, Andrew Cuomo, Chen, Lopez's, Attorney Breon, David Sarratt, Lopez, Chen's, Carlos Ortiz, Ortiz, Prosecutors, Carlos Martinez, Alejandro Burzaco, Torneos, Jonathan Stempel, Rosalba O'Brien Organizations: Century Fox, Court, REUTERS, Fox, U.S, New, Attorney, Saturday, U.S . Department of Justice, FIFA, Fox International, South, CONMEBOL, Copa Libertadores, North, CONCACAF, Argentine, Thomson Locations: Brooklyn New York City, U.S, Argentine, Brooklyn, U.S ., South American, North American, New York

Solar and wind power generation is set to triple by 2030, according to a new report from the Rocky Mountain Institute, leading to a disruption in the global electricity sector. According to the report, solar and wind power will fuel 33% of electricity generation in 2030, up from 12% in 2022. RMI predicts solar energy, which is already the cheapest energy source in history, will halve in price by 2030, continuing the dramatic downward trajectory of solar and wind energy costs. CNBC Pro used FactSet data to screen for companies that are well-positioned to outperform from the rise of solar and wind energy production. Maxeon shares have popped 68% in 2023 and could jump another 50%, per the average price target on shares.

Persons: Morgan Stanley, Andrew Percoco, Percoco, MAXN, — CNBC's Michael Bloom Organizations: Rocky Mountain Institute, RMI, CNBC, New York Stock Exchange, Nasdaq, Technologies, SolarEdge Technologies, Enphase Energy

☆ Factbox: A look at the US Supreme Court's major rulings this year
▼ + stars: | 2023-06-30 | by ( Industry Insight | Corporate Attorneys Don T Want To Pay Law Firms For Chatgpt When They Could Use It Themselves | Zach Warren | ) www.reuters.com time to read: +7 min

Here is a look at some of the rulings issued by the court this term. STUDENT LOANSThe justices on June 30 blocked President Joe Biden's plan to cancel $430 billion in student loan debt. The court elected not to further roll back protections contained in the Voting Rights Act as it had done in two major rulings in the past decade. The ruling against Republican state legislators stemmed from a legal fight over their map of North Carolina's 14 U.S. House districts. The court ruled that state prosecutors had not shown that he was aware of the "threatening nature" of his statements.

Persons: Kevin Lamarque, Constitution's, Joe Biden's, Donald Trump, Biden, Joseph Percoco, Andrew Cuomo, Louis Ciminelli, John Kruzel, Andrew Chung, Will Dunham Organizations: U.S, Supreme, REUTERS, Harvard University, University of North, Harvard, UNC, Black, Republican, U.S . House, U.S . Environmental Protection Agency, EPA, Biden, Democratic, Postal Service, New, Thomson Locations: Washington , U.S, University of North Carolina, Alabama, U.S, Idaho, Texas, Louisiana, Washington, Colorado

☆ US Supreme Court backs three men in Cuomo-era New York corruption cases
▼ + stars: | 2023-05-22 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

[1/2] Joseph Percoco (L), former aid to New York Governor Andrew M. Cuomo, walks out of the Manhattan Federal Courthouse in New York, September 22, 2016. The court has limited prosecutors in a series of political corruption cases in recent years. In overturning Ciminelli's guilty verdict, the justices said that theory of fraud, known as "right to control," is "inconsistent with the structure and history of the federal fraud statutes." The Supreme Court, which has a conservative majority, increasingly has limited prosecutors in political corruption cases. Reporting by Luc Cohen in New York; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

☆ Clarence Thomas, who accepted lavish gifts from a billionaire, argued that a law prohibiting taking bribes is too vague to be fairly enforced
▼ + stars: | 2023-05-11 | by ( Rebecca Cohen | Madison Hall | ) www.businessinsider.com time to read: +2 min

Supreme Court Justice Clarence Thomas — who accepted lavish gifts and luxury vacations from a billionaire for years — signed off on a Supreme Court opinion Thursday arguing that a law prohibiting taking bribes is too vague to be fairly enforced. Justice Neil Gorsuch wrote in a concurring opinion — on which Thomas signed off — that a federal anti-bribery law wasn't clear enough. "To this day, no one knows what 'honest-services fraud' encompasses," Gorsuch wrote. Crow described Thomas as a friend and insisted he never sought to influence the conservative Supreme Court justice. Additionally, the Senate Judiciary Committee asked Crow for a list of any gifts he's given to a Supreme Court justice or their family.

☆ Morgan Stanley says this solar stock can more than double, but it may be a bumpy ride
▼ + stars: | 2023-04-03 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Analyst Andrew Percoco initiated coverage of the stock at overweight with a price target of $35. Sunnova was the third-largest residential rooftop solar installer in the U.S. behind Sunrun and SunPower . Percoco said the market will likely continue growing in coming years given that only 4% of U.S. homes have a solar rooftop. Meanwhile, he said Sunnova's high-margin, third-party service agreements for rooftop solar assets can help EBITDA grow faster than expected. NOVA YTD mountain Sunnova stock chart — CNBC's Michael Bloom contributed to this report.

WASHINGTON — The Supreme Court on Monday questioned whether an ex-aide to former New York Gov. Andrew Cuomo was lawfully convicted on a bribery charge as it considered narrowing the scope of a federal law aimed at curbing public corruption. Percoco says that because he was not working for the government at the time, he had no duty to provide honest services. The court on Monday is also hearing a second case arising from the same New York corruption investigation. Several others targeted in the investigation, including Aiello, have their own appeals pending at the Supreme Court.

[1/2] The U.S. Supreme Court building is seen in Washington, U.S., June 26, 2022. The Supreme Court in recent years has limited the latitude of prosecutors in political corruption cases. The charges against Percoco and Ciminelli were brought in 2016 by former Manhattan U.S. Attorney Preet Bharara, who also pursued corruption cases against top state lawmakers including former Assembly Speaker Sheldon Silver. They also have asked the Supreme Court to reverse their convictions. A trial judge in July allowed him to be released from prison on bail after the Supreme Court agreed to hear the case.

The Supreme Court in recent years has hemmed in prosecutors in political corruption cases including a 2020 decision to toss the convictions of two aides to Republican former New Jersey Governor Chris Christie relating to the "Bridgegate" political scandal. The charges against Percoco and Ciminelli were brought in 2016 by then-Manhattan U.S. Attorney Preet Bharara, who also pursued corruption cases against top state lawmakers including former Assembly Speaker Sheldon Silver. They also have asked the Supreme Court to reverse their convictions. A judge in July allowed all four to be released from prison on bail after the Supreme Court agreed to hear the case. Ciminelli's lawyers said such intangible information could not qualify as a "property fraud" under Supreme Court's precedents.

☆ The Supreme Court Gets a Fraud Test
▼ + stars: | 2022-11-26 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

George Washington Plunkitt ’s quip about the difference between honest and dishonest graft comes to mind in two important public corruption cases the Supreme Court will hear on Monday. Defendants are asking the Court to throw out their convictions for sleazy conduct that they argue isn’t illegal under U.S. fraud laws. The first case (Percoco v. U.S.) involves the ill-defined honest-services fraud statute. Joseph Percoco , a former state official who was at the time serving as campaign manager for former New York Gov. Andrew Cuomo , was paid $35,000 by a real-estate developer, allegedly to help obtain government approval for a project that didn’t have a labor peace agreement with local unions.

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