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Analyst Geoff Meacham's $18 price objective implies a potential upside of 51% from the stock's $11.94 closing price Monday. Meacham cited the firm's strong pipeline of novel drugs and treatments as a catalyst. Specifically, Neumora's navacaprant drug could be a "game-changer for major depressive disorder," Meacham said. "Overall, the diverse pipeline and targets provide multiple opportunities for Neumora to potentially become one of the largest neuro-focused biotech companies." While the company is currently unprofitable, Meacham expects this to change in 2027, or one year after the company officially commercializes navacaprant for major depressive disorders.
Persons: Geoff Meacham's, Meacham, — CNBC's Michael Bloom Organizations: Bank of America
Artificial intelligence may be the answer to a slowing economy, according to Raymond James. The Wall Street firm said AI is potentially the next "productivity catalyst" for a lackluster macro backdrop and outlined its favorite stocks to play the trend. These are some of the AI-focused names Raymond James recommends betting on: Perhaps unsuprisingly, Microsoft made the list. Raymond James also highlighted data infrastructure stocks powering AI platforms as another growth-driver for businesses such as Arista Networks . Other top AI picks from Raymond James include Salesforce , Alphabet and American Tower Corporation .
Persons: Raymond James ., commercializes, Frank Louthan, Raymond James, Wall, NVDA, Louthan, — CNBC's Michael Bloom Organizations: Microsoft, Nvidia, Arista Networks, Wall Street, Tower Corporation
JPMorgan initiates Alkami as overweight JPMorgan said the regional banking software company has strong fundamentals. " Bernstein reiterates Microsoft as outperform Bernstein said AI is going "everywhere and in everything" that Microsoft does. Goldman Sachs reiterates PayPal as buy Goldman said it sees further earnings upside after the company's earnings report on Monday. " Raymond James reiterates Palantir as strong buy Raymond James said it's standing by its strong buy rating on shares of the AI beneficiary. Credit Suisse downgrades PayPal to neutral from outperform Credit Suisse said it's too "challenging" to recommend shares right now.
Organizations: & & .
Chance Saltzman took the stage for his keynote at the Space Symposium in Colorado Springs, Colorado, this week, his message was simple: The U.S. is in a new era of space activity. "The threats that we face to our on-orbit capabilities from our strategic competitors has grown substantially," Saltzman, the U.S. Space Force's second-ever chief of space operations, said in a CNBC interview after the speech. Case in point: the Space Force's recently announced procurement strategy for more launch services. With business to be awarded next year, the National Security Space Launch Phase 3 is estimated to run into the billions of dollars and is expected to draw bids from the likes of Rocket Lab , Relativity Space and Jeff Bezos' Blue Origin, among others. While still just a fraction of the country's overall defense budget, the Space Force's $30 billion request for fiscal 2024 represents a 15% increase from this year's enacted levels.
Tech stocks have been in a funk for much of this year, as investors steered clear of growth sectors in a down market. Similarly, Morgan Stanley said it was "double" upgrading EU tech stocks. Software, IT hardware Citi said that it was upgrading these tech sectors in particular: software and services, as well as tech hardware. In a separate Sept. 20 note, Citi gave Elastic a price target of $155 – or an upside of 115%. The bank's basket of European growth stocks include: chip firm ASML , Dutch payment firm Adyen and financial software provider Temenos .
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