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☆ Here are Thursday's biggest analyst calls: Netflix, Meta, Apple, Tesla, Charles Schwab, Roblox, Amazon & more
  + stars: | 2023-01-19 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Here are Thursday's biggest calls on Wall Street: Bank of America downgrades Charles Schwab to underperform from buy Bank of America said in its double downgrade of Schwab that the Fed will stop hiking this summer, "removing a powerful near-term profit driver." Wells Fargo names Meta, Amazon and Alphabet top 2023 picks Wells says Meta, Amazon and Alphabet have "solid fundamentals" and should outperform in 2023. Deutsche Bank reiterates Tesla as buy Deutsche said the automaker could be a top performer in 2023. JPMorgan names Meta a top pick into earnings JPMorgan said Meta is well positioned into earnings next week. Bank of America reiterates Disney as buy Bank of America said the return of Bob Iger has been a boost to investor sentiment and that selling ESPN is not a slam dunk.
☆ Bank of America says top pick ServiceNow could see 'best-in-class growth'
  + stars: | 2023-01-19 | by ( Sarah Min | ) www.cnbc.com   time to read: +1 min
Buy ServiceNow as the IT company outperforms peers, according to Bank of America. Analyst Brad Sills maintained a buy rating on ServiceNow, and called it a top pick, following checks with nearly a dozen of the software company's partners that suggested "healthy, sustained demand." ServiceNow shares are up more than 7% this year, after falling roughly 40% the year prior. ServiceNow CEO Bill McDermott made positive comments Wednesday on CNBC, saying there's "not a chance" for a recession in IT spending. Meanwhile, the analyst said he expects ServiceNow will lead the digital transformation for back office workflow automation, as it grows in the next several years.
☆ Not a chance of a recession for IT spending this year, says ServiceNow's Bill McDermott
  + stars: | 2023-01-18 | 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 EmailNot a chance of a recession for IT spending this year, says ServiceNow's Bill McDermottCNBC's Sara Eison talks with ServiceNow CEO Bill McDermott about spending in the IT sector and why he says his company is hiring right now.
☆ Here are Morgan Stanley's top software stock picks for 2023
  + stars: | 2022-12-19 | by ( Samantha Subin | ) www.cnbc.com   time to read: +3 min
The difficult outlook for software stocks should continue into 2023, but companies offering growth at a reasonable price stand to gain and come out on top, according to Morgan Stanley. Software stocks suffered a dismal 2022 as rising interest rates brought down stocks with sky high price-to-earnings ratios. Despite ServiceNow's decline of more than 39% this year, Morgan Stanley's $612 price target implies more than 55% upside from Friday's close. Along with its top picks, Morgan Stanley named a host of stocks poised to benefit in any recovery. Morgan Stanley also included Toast and Datadog as stocks to build positions in as interest rates subside and growth improves.
☆ Buy this stock poised to become one of the best 'growth stories' in software, Morgan Stanley says
  + stars: | 2022-11-17 | by ( Samantha Subin | ) www.cnbc.com   time to read: +1 min
Morgan Stanley says investors should consider putting their money in ServiceNow , a software stock poised to become one of the best free cash flow growth stories in its sector. Analyst Keith Weiss named the stock a top pick, moving away from the bank's previous focus on Salesforce . Weiss cited ServiceNow's "best-in-class unit economics" and strong positioning among the reasons for the sentiment shift. Morgan Stanley's $520 price target suggests the stock could, however, gain 26% from Wednesday's close. "With current unit economics capable of supporting > 40% operating margins as growth slows, the combination of strong execution to a large (and growing) TAM with significant room for margin expansion should yield one of the best FCF growth stories in software," Weiss wrote.
☆ Here are Thursday's biggest analyst calls: Apple, Boeing, AMC, Meta, Amazon, Tesla, Ferrari & more
  + stars: | 2022-10-27 | by ( Michael Bloom | ) www.cnbc.com   time to read: +5 min
Here are Thursday's biggest calls on Wall Street: Barclays reiterates Apple as equal weight Barclays said it sees "upside to consensus" heading into Apple earnings on Thursday. Morgan Stanley downgrades Meta to equal weight from overweight Morgan Stanley said in its downgrade of Meta after its earnings report on Wednesday that it sees "execution uncertainty and lower free cash flow." Goldman Sachs reiterates Boeing as buy Goldman said it sees "a lot upside" in shares of Boeing. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said in a note to clients on Thursday that it think internal combustible engines will be around longer than investors think. Bank of America reiterates Ford as buy Bank of America said it likes the automaker's execution after its third-quarter earnings report on Wednesday. "
☆ This tech stock could be a 'new home' for mega-cap investors, MoffettNathanson says
  + stars: | 2022-10-27 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
Cloud computing company ServiceNow could be the next tech stalwart, according to MoffettNathanson. Analyst Sterling Auty upgraded shares of ServiceNow to outperform from market perform, saying the stock could soar 50%, after a better-than-expected earnings report bolstered his outlook on the company. "ServiceNow's September results are a welcome change after the disappointing results from Microsoft (MSFT, MP, Auty) and we expect them to help drive broader software higher," Auty wrote in a Thursday note titled "Megacap Investors Have New Home." The analyst expects the positive outlook for the rest of this year and next will help ServiceNow outperform, and gain share against other mega-cap tech companies. "Over the last 5-7 years we have watched investors rotate focus among a small group of megacap ($50B+ market cap) software stocks (Microsoft, Salesforce.com [CRM, Not Rated], Adobe [ADBE, MP, Auty] Intuit [INTU, OP, Ader], and ServiceNow)," Auty wrote.
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