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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

Loop Capital initiated Dell Technologies with a buy rating and a price target that implies more than 35% upside. Analyst Stephen Grambling hiked his price target by $9 to $49, while keeping his rating at overweight. Salesforce has popped nearly 14% in 2024, extending gains after the stock price came close to doubling in 2023 alone. Roseka's price target of $27.10 shows the potential for just 3.6% in upside compared with Tuesday's ending price. Analyst Ananda Baruah initiated coverage of the technology stock with a buy rating and a $125 price target.

Persons: Stifel, Smucker, Raymond James, Rick Patel, Patel, — Alex Harring, Kenneth Worthington, Worthington, Alex Harring, Morgan Stanley, Stephen Grambling, DKNG's, Grambling, DraftKings, Jackpocket, Morgan, Wednesday's premarket, Goldman, Goldman Sachs, Kash Rangan, Rangan, Bernstein, Daniel Roeska, Stellantis, Roseka, KeyBanc, Sophie Karp, CEG, Karp, Matthew Smith, Smith, Fred Imbert, Dell, Ananda Baruah, DELL, Baruah Organizations: CNBC, Dell Technologies, FactSet, Apollo Global Management, JPMorgan, APO, Grambling, Constellation Energy, Constellation, Dell, Capital, DELL Locations: Tuesday's, Wednesday's premarket, Grambling, Wednesday's, Salesforce, Netherlands, U.S, Europe

☆ Affordability, low incentives contribute to EV consumer pull back, says analyst
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAffordability, low incentives contribute to EV consumer pull back, says analystDaniel Roeska, senior analyst for European transportation at Bernstein Research, says EVs will become cheaper to manufacture by the end of the decade.

Persons: Daniel Roeska, EVs Organizations: EV, Bernstein Research

☆ German carmaker stocks dip amid China-EV probe dispute
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Alternatively, punitive tariffs on imports from China could accelerate Chinese EV makers' plans to build in Europe, analysts said, raising competition for domestic carmakers. "Volkswagen could gain from lower mass-market competition, but is the most exposed ... premium OEMs ...face the risk of retaliation and might see their China-export plans sent awry," he added. By 1210 GMT, the STOXX Europe 600 Auto (.SXAP) index was down 1.46%, while the broader market was steady. BMW, which exports the iX3 from China and plans to export the Mini from 2024, fell 2.08%, with Mercedes-Benz down 1.56% and Volkswagen down 1.83%. Stocks of carmakers Renault and Stellantis, which are less exposed to the Chinese market than their German counterparts, saw smaller dips of 1.33% and 0.81% respectively.

Persons: Annegret, Emmanuel Macron, Daniel Roeska, Bernstein, Danilo Masoni, Victoria Waldersee, Josephine Mason, Thomas Leigh, Michel Rose, Sharon Singleton, David Holmes Organizations: REUTERS, EV, HK, European Commission, Renault, Volkswagen, BMW, Mercedes, Benz, Porsche, carmakers Renault, Thomson Locations: Berlin, Germany, Beijing, China, Europe, France

☆ Chinese electric carmakers ramp up push overseas, setting up clash with U.S., European auto giants
▼ + stars: | 2023-09-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCMunich, GERMANY — The IAA in Munich, Germany is one of Europe's most high-profile auto shows. And it was dominated by Chinese electric car firms looking to expand their presence on the continent and challenge incumbents from BMW to Ford in the new era of battery-powered vehicles. But a slowing market at home, due to tepid consumer spending after Covid-19 restrictions were lifted, coupled with an attractive market in Europe, has seen Chinese firms launch cars abroad and expand their footprint. Many of the European carmakers have been seen lagging in their push into EVs at a time when Chinese players have launched dozens of new vehicles. watch nowThe entrance of Chinese firms into Europe is seen as a threat to big automakers who have been perceived to be moving too slow on EVs.

Persons: BYD, Arjun Kharpal, Daniel Roeska, Roeska, Zhu Jiangming, Warren Buffett, Xpeng, Brian Gu, Gu, Bernstein, Tesla, Mercedes, Xpeng's Gu Organizations: CNBC, BMW, Ford, EV, Bernstein Research, Leapmotor, Tesla, IAA Locations: Europe, Munich, Germany, CNBC Munich, GERMANY, China, Hangzhou, Norway, Sweden, Denmark, Netherlands, Guangzhou, EVs

☆ BMW, Mercedes launch biggest EV push yet to catch Tesla with new models
▼ + stars: | 2023-09-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

BMWMUNICH, Germany — BMW and Mercedes are making their biggest push yet into electric cars in a bid to fend off rising competition from Chinese players and catch up with U.S. giant Tesla . On Saturday, rival BMW showed off the "Vision Neue Klasse," another electric concept car that highlights the company's EV ambitions. This is the companies' biggest push yet toward a new platform for the electric vehicle era. Tesla commanded 20% of the global EV market in the second quarter, followed by 15% for BYD, according to Counterpoint Research. GTI Concept electric vehicle at the IAA show, and said a production version of the car is scheduled to hit the road in 2027.

Persons: Warren Buffett, BYD, Elon Musk's Tesla, Mercedes, Ola Kallenius, Kallenius, CNBC's Annette Weisbach, Oliver Zipse, CNBC's Arabile, Zipse, Daniel Roeska, Roeska, Tesla Organizations: BMW, IAA, BMW MUNICH, Mercedes, IAA Mobility, Benz, Analysts, Bernstein Research, CNBC, Tesla, BYD, Research, U.S ., EV, Volkswagen Locations: Munich, Germany, Tesla, China

☆ Ferrari nudges up year forecasts after Q2 results, investors unimpressed
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +3 min

EBITDA of 2.19-2.22 bln euros this yearForecast on FY EBITDA margin unchanged at 38%FY revenue expected to grow to around 5.8 bln eurosAdj. The Italian company guided for adjusted earnings before interest, tax, depreciation and amortization (EBITDA) to grow to between 2.19 billion euros and 2.22 billion euros ($2.40 billion - $2.44 billion) this year, versus a previous forecast of between 2.13 billion and 2.18 billion euros. The expected cash generation was also broadly unchanged, at around 900 million euros versus a previous guidance of up to 900 million euros. Ferrari shares, which are up around 40% this year, erased small daily gains after the results were published. In the second quarter, adjusted EBITDA grew 32% to 589 million euros, in line with analysts' expectations of 580 million euros, according to a Reuters poll.

Persons: Andrew Boyers, Benedetto Vigna, Bernstein, Daniel Roeska, Vigna, Giulio Piovaccari, Gianluca Semeraro, Keith Weir, Sharon Singleton Organizations: Prix, Silverstone Circuit, REUTERS, Ferrari, Daytona, EMEA, Thomson Locations: Silverstone, Britain, MILAN, Italian, personalisations

June 16 (Reuters) - Volkswagen (VOWG_p.DE) will face investors hungry for answers at its capital markets day next Wednesday on how it will achieve high cost-cutting targets and whether it will heed their calls for an independent audit of its co-owned Xinjiang plant. "The 21 June CMD is an opportunity to reset a fraught relationship with investors, a challenging exercise," Jefferies wrote in a note on Friday. Investors also demanded that Volkswagen conduct an independent audit of the Urumqi plant, which executives have is only possible with the agreement of joint venture partner SAIC (600104.SS). Alongside targets, investors needed details on how the carmaker expects to make its EV production more cost-effective, Daniel Roeska of Bernstein Research wrote in a note on Thursday. "The risk is that instead we see more punchy earnings and volume targets, with little to support them," he added.

Persons: CMD, Jefferies, carmaker, Oliver Blume, Arno Antlitz, Blume, Daniel Roeska, Jan Schwartz, Victoria Waldersee, Conor Humphries Organizations: Porsche, Volkswagen, Investors, SAIC, Bernstein Research, Thomson Locations: Xinjiang, Urumqi, Germany

☆ In the battle for EV dominance in Europe, Bernstein picks 7 winners
▼ + stars: | 2023-06-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Chinese electric vehicle (EV) manufacturers are making a push into Europe and could take market share away from established U.S. and local brands, according to Bernstein. European brands have already seceded 20% of market share to Japanese and South Korean carmakers over the past two decades, according to IHS. Using what it described as conservative estimates, Bernstein predicted that Chinese automakers will hold less than 5% market share by 2030. In an accelerated scenario, where both Tesla and Chinese brands capture significant market share, incumbents could lose up to 20%," the bank's analysts wrote. Roeska noted that despite the fact that Chinese-owned European brands such as MG, Volvo, and Polestar currently account for 8% of the region's EV market, long-term dominance can only be sustainable through local production.

Persons: Bernstein, Tesla, Daniel Roeska, Roeska, Polestar, Aston Martin Organizations: IHS, Renault, EV, Volvo Car, Volvo, Benz Locations: Europe, Korean, U.S

☆ Seeing really positive trends in European auto sector despite weak macro setting: Bernstein
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSeeing really positive trends in European auto sector despite weak macro setting: BernsteinDaniel Roeska, managing director of automotive research at Sanford C. Bernstein, weighs in on euro zone car registration numbers, outlining which car stocks he believes will perform best in 2023.

High interest rates, supply chain problems and recessionary fears were among the major challenges for the global automotive industry in 2022. Auto sales could still riseUnlike traditional downturns or past periods when demand was soft, most analysts expect global and U.S. auto sales to rise in 2023. Cox Automotive is forecasting U.S. new vehicle sales of 14.1 million in 2023, which Charlie Chesbrough, Cox's senior economist and senior director of industry insights, described as "tepidly optimistic." S&P Global Mobility expects new vehicle sales globally to reach nearly 83.6 million units in 2023, a 5.6% increase from the previous year. US consumers are hunkering down, and recovery towards pre-pandemic vehicle demand levels feels like a hard sell.

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