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☆ The 11 GRANOLAS stocks power Europe to record highs, drawing Magnificent Seven comparisons
▼ + stars: | 2024-02-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 19, 2024. Staff | ReutersOver the last 12 months, just 11 stocks made up half of the gains that powered the pan-European Stoxx 600 stock index to a record-high close on Friday. "From a Global point of view, the GRANOLAS have even outperformed the so-called Magnificent 7 over the past two years. Their (out)performance is even more impressive on a risk-adjusted basis: with a volatility 2x lower than for the Magnificent 7, the GRANOLAS help to boost the Sharpe ratio." "This suggests that, in Europe, nearly all revenue growth of the STOXX 600 will come from the GRANOLAS.

Persons: Goldman Sachs, Sanofi —, Goldman, Tim Hayes, Ned Davis, Hayes Organizations: Staff, Reuters, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Street, Ned, Ned Davis Research, CNBC Locations: Frankfurt, Germany, Europe

☆ Drugs like Ozempic and Wegovy could strengthen the US economy, Goldman Sachs predicts
▼ + stars: | 2024-02-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —The US economy is set to reap considerable benefits from Americans taking popular medications used for weight loss, including Ozempic and Wegovy, Goldman Sachs analysts wrote in a recent research report. Originally developed to treat type 2 diabetes, they proved to be highly effective at helping people shed weight in clinical trials. (Ozempic has not been approved for weight loss by regulators, though Wegovy, a similar drug, has.) Goldman Sachs argues that since poor health unambiguously weighs on the economy, improving health outcomes due to GLP-1s could lower costs and boost productivity, shoring up economic output. For some Americans who are obese but don’t have diabetes, obtaining those drugs has become difficult, if not impossible.

Persons: Goldman Sachs, Eli Lilly, Jody Dushay, Beth, Doug Langa, they’ve Organizations: DC CNN, Government, Novo Nordisk, Beth Israel Deaconess Medical, CNN Locations: Washington, United States, North America, Novo

☆ Want a Nvidia alternative? These 6 chip suppliers look set to gain big from the AI boom
▼ + stars: | 2024-02-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

A number of stocks that supply Nvidia look set to gain from the AI boom, as the U.S. chip giant published another bumper quarter of earnings. Nvidia, which makes chips that are used to train artificial intelligence models, said sales had risen 265% year-on-year to more than $22 billion in its latest quarter . TSMC also makes chips for companies such as Apple and AMD . Samsung Electronics and SK Hynix make "high bandwidth memory" chips used in the latest AI chips. Japanese firm Advantest makes equipment and materials used to test AI chips during manufacturing.

Persons: TSMC, Morgan Stanley, CNBC's Michael Bloom Organizations: Nvidia, CNBC, Samsung Electronics, Micron Technology, Taiwan Semiconductor Manufacturing Company, Apple, AMD, SK Hynix, GPU, Street, BESI, BE Semiconductor Industries, TSMC, Intel, Samsung Locations: U.S, NVDA, Dutch

☆ Chip analysts boost Nvidia price targets in race to catch up to chipmaker's relentless 'joyride'
▼ + stars: | 2024-02-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

That led several Wall Street banks to hike their price targets to account for the unrelenting demand. Bernstein and other Wall Street shops raced to catch up with Nvidia's share price, hiking their price targets in reaction to nonstop demand and the company's enormous total addressable market. Rasgon's new target was the equivalent of 48% upside from Wednesday's close, while the average price target according to FactSet implied more than 22% upside. Bank of America's Vivek Arya also lifted his Nvidia price target to $925 per share, equal to about 37% upside. JPMorgan analyst Harlan Sur boosted his price target to $850 to reflect strong data center growth and future product launches.

Persons: Bernstein's Stacy Rasgon, Bernstein, America's Vivek Arya, Harlan Sur, allaying, Sur, Goldman Sachs, Toshiya Hari, Morgan Stanley's Joseph Moore, Moore, Deutsche Bank's Ross Seymore, Seymore, Timothy Arcuri, Arcuri, — CNBC's Michael Bloom Organizations: Nvidia, Bank, America's, JPMorgan, Deutsche, UBS Locations: CY24

☆ Goldman’s list of hedge fund favorite stocks is almost doubling the market. Here’s what’s in it
▼ + stars: | 2024-02-21 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge funds' most-loved stocks have nearly doubled the S & P 500 's return this year due to the continuous strength in Big Tech, according to Goldman Sachs. It then compiled a basket of the most popular long positions, dubbed Goldman's Hedge Fund VIP basket, comprising 50 stocks that most frequently appear among the largest 10 holdings of hedge funds. The group of hedge funds' favorite stocks has gained 9% this year through Feb. 14, outperforming the S & P 500's 5% return during the same period. Amazon and Microsoft , which climbed 10% and 6% this year, respectively, were the two most popular stocks among fundamental hedge funds as of the end of 2023. Meta Platforms , Alphabet and Nvidia were also well-loved among hedge funds last quarter.

Persons: Goldman Sachs, Goldman, Meta Organizations: Big, Amazon, Microsoft, Nvidia, Natural Resources, Visa Locations: Big Tech

☆ UBS hikes its S&P 500 target to 5,400, highest on Wall Street
▼ + stars: | 2024-02-20 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

UBS just raised its S & P 500 year-end target to the highest among major Wall Street banks, saying it was "not bullish enough." "Despite our bullish outlook, it appears we were not bullish enough," Jonathan Golub, chief U.S. equity strategist at UBS, said in a note. .SPX YTD mountain S & P 500 Golub is not the only strategist raising his forecast. On average, strategists anticipate the S & P 500 will end the year at 4,961, according to a CNBC survey. The S & P 500 is higher by more than 4%, having notched fresh record highs in recent weeks.

Persons: Jonathan Golub, Golub, Goldman Sachs Organizations: UBS, PPI, CNBC

☆ Bank of England rate cuts likely later but larger, Goldman Sachs says
▼ + stars: | 2024-02-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Mike Kemp | In Pictures | Getty ImagesThe Bank of England is likely to hold interest rates higher for longer before slashing them more sharply than expected in the second half of the year, new forecasts from Goldman Sachs show. But it said the central bank was then likely to cut rates more quickly than previously anticipated as inflation shows signs of cooling. Goldman now sees five consecutive 25 basis point interest rate cuts this year, lowering rates from their current 5.25% to 4%. Bank of England Governor Andrew Bailey said Tuesday that bets by investors on interest rate cuts this year were "not unreasonable," but resisted giving a timeline. Goldman said there was a 25% chance the BOE would delay rate cuts beyond June if wage growth and services inflation remained sticky.

Persons: Mike Kemp, Goldman Sachs, Goldman, BoE, Andrew Bailey, Bailey, Huw Pill, BOE Organizations: Bank of England, of England, Treasury, Bank Locations: City of London, London, United Kingdom

☆ Here's the latest sign that Goldman Sachs CEO David Solomon isn't going anywhere: His 2023 pay.
▼ + stars: | 2024-02-16 | by ( Reed Alexander | ) www.businessinsider.com time to read: +4 min

Of that bonus, $20.3 million, or roughly 70%, will be awarded in stock, with a remaining cash bonus portion of about $8.7 million. Solomon's freshly-announced 2023 comp puts him just behind his fellow Wall Street bosses. Everyone knows that, on Wall Street, money talks. But Wall Street is a notoriously competitive gauntlet and Solomon has yet to beat his personal 2021 record this time around. There's always next year — and it looks like Solomon will still be here to take another bite at the apple.

Persons: David Solomon, Goldman Sachs, Jamie Dimon, Morgan Stanley, James Gorman, he's, Goldman, —, Solomon, Adebayo Ogunlesi, What's, There's Organizations: Service, JPMorgan Chase, Wall

☆ ASML and more: BofA just got more bullish on these 3 chip stocks, says AI spending is heating up
▼ + stars: | 2024-02-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

European semiconductor equipment stocks are likely to outperform as spending on artificial intelligence chips rises over the next decade, according to Bank of America. The continent's chip stocks produce the high-tech machines needed to manufacture the latest generation of chips. ASML ASML , the dominant supplier of lithography equipment used to manufacture advanced logic and memory chips, remains Bank of America's "top pick in EU Semicaps." The bank forecasts strong demand from leading chipmakers using ASML 's extreme ultraviolet lithography machines required to produce next-generation AI accelerators and high bandwidth memory modules. The investment bank said ASM 's exposure to new transistor architectures called "gate-all-around" appears to be critical for improving AI chip performance.

Persons: Didier Scemama Organizations: Bank of America, AMD, Nvidia, EU, America's, Analysts, ASM International Bank of America, ASM International, ASM, BE Semiconductor Industries, HB, Intel, Micron Locations: Europe

☆ Brexit Britain has 'significantly underperformed' other advanced economies, Goldman Sachs says
▼ + stars: | 2024-02-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Pro-EU demonstrators protest outside Parliament against Brexit on the fourth anniversary of Britain's official departure from the European Union in London, United Kingdom on January 31, 2024. LONDON — Post-Brexit Britain has "significantly underperformed" other advanced economies since the 2016 EU referendum, according to new analysis from Goldman Sachs, which aims to quantify the economic cost of the Leave vote. Goldman Sachs attributed the economic shortfall to three key factors: reduced trade; weaker business investment; and labor shortages as a result of lower immigration from the EU. The U.K. voted 52% to 48% to leave the EU on June 23, 2016, but officially exited the union on Jan. 31, 2020. Over that period until today, U.K. goods trade has underperformed other advanced economies by around 15% since the Leave vote, according to the bank's estimates, while business investment has fallen "notably short" of pre-referendum levels.

Persons: Goldman Sachs Organizations: EU, Brexit, European Union, LONDON Locations: London, United Kingdom, LONDON —

☆ These 3 stocks could lead the charge for a 19% surge in the S&P 500 to 6,000 this year, according to a market research firm that counts Wall Street's top banks among its clients
▼ + stars: | 2024-02-13 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Read previewThe S&P 500's 22% tear over the last few months may just be getting started, according to Sevens Report Research, a market research firm with clients that include top Wall Street banks like JPMorgan, Morgan Stanley, UBS, and more. On the valuations front, the S&P 500's multiple would only have to rise fairly slightly to lift the index to 6,000. "The S&P 500 is already trading with an elevated forward P/E multiple of over 20X expected 2024 EPS," he said. "If sentiment gets frothy, however, and stocks trade with a multiple pushing 22X, which is far from unheard of as the forward multiple of the S&P 500 hit 21.4 on 1/2/2022, then the S&P 500 could surpass 6,000 in H2'24." Essaye also said small-cap stocks cyclical sectors like big banks, and materials and transportation firms would do well in a soft-landing scenario.

Persons: —, Morgan Stanley, Tyler Richey, Richey, aren't, Louis Fed, Tom Essaye, Essaye, it's Organizations: Service, JPMorgan, UBS, Business, Investor, CNN, Federal Reserve, Nvidia, Amazon Locations: H2'24

☆ Goldman names 3 'attractive' value stocks that offer more than 50% upside
▼ + stars: | 2024-02-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs has identified three "attractive" value stocks that could see significant share price appreciation over the next 12 months. The Wall Street bank's analysts see over 50% upside potential in British Airways parent International Consolidated Airlines Group , agricultural machinery maker CNH Industrial , and health technology company Philips . Goldman Sachs said all three companies stand out amongst their European peers for their cheap valuations compared to earnings growth prospects. IAG-GB 1Y line Philips Goldman recommends buying Philips and expects the shares to be up 51% over the next 12 months. CNH Industrials Goldman Sachs upgraded CNH to buy last month.

Persons: Goldman Sachs, John Sawtell, Goldman's, Patrick Creuset, Creuset, Philips Goldman, Roy Jakobs, CNH Industrials Goldman Sachs, Michael Bloom Organizations: British Airways parent International Consolidated Airlines Group, Philips, CNBC Locations: Europe, United States

☆ This index will beat the S&P 500, with inflation set to be among 2024's 'biggest risks,' BofA says
▼ + stars: | 2024-02-09 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Investors should prefer the Canadian TSX Composite benchmark index in 2024 to the S & P 500 , according to Bank of America. Last year, while inflation was moderating, the TSX underperformed the S & P 500 by 16 percentage points. However, the Canadian index beat the S & P 500 in 2022 when inflation was investors' prime concern. According to FactSet, the P/E currently stands at 15.75x, lower than the 20.28x of the S & P 500. Canadian investors can access the index through the near-identical iShares Core S & P/TSX Capped Composite Index ETF and BMO S & P/TSX Capped Composite Index ETF .

Persons: Ohsung Kwon, FactSet, Kwon, SPX Organizations: Canadian, Bank of America, TSX, of America's, BMO, U.S Locations: of America's Canada, 15.75x, United States, Canada, Yom Kippur, Vietnam

☆ Meet the Man Behind Litquidity, the Anonymous Instagram Account Dominating Wall Street
▼ + stars: | 2024-02-07 | by ( Reed Alexander | Hayley Cuccinello | ) www.businessinsider.com time to read: +26 min

The deck kicked off a game of one-upmanship among Wall Street banks trying to keep their employees happy. Lit capitalized on poking fun at Wall Street culture, selling $35 dad hats that read, "Do You Know Who My Father Is?" There have, of course, been endless rumors about Lit's identity, especially among Wall Street underlings. Wall Street underlings have speculated about Litquidity's identity for years. Basak, one attendee said, wanted to take a "wrecking ball through it all" and hold Wall Street heavy hitters accountable.

Persons: Goldman Sachs, I've, David Solomon, Litquidity, Goldman, Solomon, Evercore, Michael Kovac, Lit, Warburg Pincus, Jamie Dimon, Jamie Dimon's, Banksy, Bennett Jordan, who've, Lit's, — Mark Moran, —, Jefferies, Richard Handler, Spencer Platt, Isaac Laifer, Laifer, Handler, We'd, Henry, Hank, Medina, He's, he's, Jefferies Medina, Bart P, Fuchs, Karl Smith, Mark Moran, Moran, Bloomberg he'd, Zack DeZon, Getty Images Moran, Brian Hanly, Hanly, Sonali Basak, Angela Weiss, cryptocurrency, we'll, Mark, Medina's, weren't, CoinFLEX, Litquidity doesn't, Dave Portnoy, wasn't, Medina Ayden Syal, Kyle Zappitell, Zappitell, he'd, hasn't, Bennett Jordan —, Craig Sjodin, Litney, Paul Argenti, Wall Organizations: Goldman, New York Times, CNBC, Business, Bloomberg, Metropolitan Club of New, Nomura, Citigroup, Financial Times, Litney Partners, Whitney Partners, BI, ESPN, Litquidity, Centerview Partners, New York, Getty, Bain Capital, Litquidity Venture Partners, SEC, Cornell University, Wexford Capital —, Deutsche Bank, Deutsche, CFA, Getty Images, Bullish, Vice, Wall Street, Litquidity's, Manhattan's Rue, Fox Business, Litquidity Ventures, Coatue Management, SAFE, Soho House, Dartmouth University Locations: New York, Tribeca, Metropolitan Club of New York, Instagram, San Francisco, Medina, New York City, Miami, NoHo, Chad, Connecticut, Litquidity, Linktree, Soho

☆ Look beyond AI's near-term plays, Goldman says — naming long-term beneficiaries in and outside tech
▼ + stars: | 2024-02-06 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

Artificial intelligence took the investing world by storm in 2023, and was behind much of Big Tech's gains for the S & P 500. The S & P 500 jumped a whopping 24% or so last year, with much of the increase coming from the "Magnificent Seven." The health-care sector is one example it cited, with AI set to be used across multiple areas such as biopharma, medical devices and services. Over the long term, it will be integral to drug discovery and clinical trial design processes, Goldman said. Here are some names in its basket of long-term AI beneficiaries whose earnings per share Goldman said might get a boost from a rise in sales and margins.

Persons: Goldman Sachs, Goldman, ChatGPT, —, haven't, CNBC's Michael Bloom Locations: Big

Analyst Oliver Chen also maintained his buy rating for Ulta stock, simultaneously lifting his price target to $580 from $570. Deutsche Bank: Reiterate buy rating and $450 price target, implying 10% upside. Kallo's price target of $300 implies that Tesla stock could rally more than 56% from its Tuesday closing price. Citi analyst Christopher Danely also stood by his buy rating on the stock while lifting his price target to $192 from $136. Analyst Jeffrey Adelson downgraded the company to underweight from equal weight and cut his price target to $6.50 from $7.

Persons: Morgan Stanley, TD Cowen, Ulta, Oliver Chen, ULTA, Chen, — Lisa Kailai Han, Goldman Sachs, Kash Rangan, Baird, Tesla, Ben Kallo, Elon Musk's, Toshiya Hari, Hari, Christopher Danely, Vivek Arya, Danely, Arya, Harlan Sur, Kannan Venkateshwar, Venkateshwar, Eric Sheridan, Sheridan, Justin Post, Ross Sandler, Sandler, Ronald Josey, Josey, Morgan Stanley downgrades, Jeffrey Adelson, Adelson, SOFI, SoFi, Fred Imbert Organizations: CNBC, Google, Microsoft, SoFi Technologies, Deutsche Bank, Citi, Barclays, Tesla, Devices, Wall Street, AMD, Bank of America, Barclays downgrades Verizon Barclays, Verizon, Venkateshwar, Bulls, Morgan Stanley downgrades SoFi Locations: Ulta

☆ Prestigious Wall Street banks are ditching marijuana and other drug tests for job seekers
▼ + stars: | 2024-01-31 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +1 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And as attitudes toward cannabis legalization in the US shift, pre-employment drug tests are becoming a thing of the past — even at some of the most buttoned-up institutions on Wall Street. We're nearly halfway there — recreational use of cannabis is legal in 24 states and the District of Columbia. In New York, cannabis was officially legalized in 2021, and marijuana dispensaries have been popping up since the end of 2022. This story is available exclusively to Business Insider subscribers.

Persons: —, We're Organizations: Service, Wall, District of Columbia, Business Locations: New York

☆ Trump vs. Biden: Goldman Sachs names the global stocks to play the U.S. elections
▼ + stars: | 2024-01-31 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As the U.S. presidential election comes into the spotlight, Goldman Sachs has assessed the potential impact on global markets by changes in regulation, taxation, and other government policies. However, it sees U.S. subsidiaries of foreign companies potentially gaining if Trump delivers on a cut to corporation taxes. On average, European companies generate 25% of sales in the U.S., but most come from U.S.-based businesses rather than exports from the EU, according to Goldman Sachs. As these companies run substantial U.S. operations and assets, Goldman also sees them as benefiting from potential U.S. corporate tax cuts under Trump. However, they flagged that Biden has mentioned increasing the rate of corporate tax, "which would have an impact on US-exposed companies."

Persons: Goldman Sachs, Donald Trump, Trump, DAX, Sharon Bell, Joe Biden, Goldman, Biden, Michael Bloom Organizations: U.S, Ukraine, Trump, Eurostat, Stocks, Intercontinental Hotels Group, Boeing, Aero, BAE Systems, Kerry Group, Goldman, Republican Locations: United States, U.S, Europe

☆ CNBC Daily Open: Tech earnings not impressing Wall Street
▼ + stars: | 2024-01-31 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia stocks mixedAsia-Pacific markets were mixed Wednesday ahead of the interest rate decision from the U.S. Federal Reserve. Overnight, U.S. stocks also closed mixed. Alphabet, Microsoft disappointWall Street wasn't too impressed with the quarterly results from tech giants Alphabet and Microsoft.

Persons: Elon Musk, Tesla, Goldman Sachs Organizations: CNBC, U.S . Federal, Dow Jones, Nasdaq, Microsoft, Tesla Locations: Asia, Pacific, China, Delaware

☆ 'I will bleed Goldman Sachs forever': Wall Street banker Jim Esposito tells GS partners why now is the time to step down — and reflects on brushes with everyone from 'Buffett to Beckham'
▼ + stars: | 2024-01-29 | by ( Reed Alexander | Dakin Campbell | ) www.businessinsider.com time to read: +2 min

Goldman Sachs on Monday said that Jim Esposito, one of the bank's three co-heads of global banking and markets and a potential CEO contender, would be stepping down . He said he's developed a sense of restlessness and suggested he's leaving because he's eager for a change of pace. Goldman Sachs is one of the most powerful investment bank on Wall Street and its leaders often go on to do great things, including heading up firms or taking on leading roles in government. "As the pace of innovation accelerates at a mind blowing speed, there's a strong pull to explore new adventures," Esposito wrote, concluding later: "Keep winning as our results will always define us. I will bleed Goldman Sachs forever."

Persons: Goldman Sachs, Jim Esposito, he's, I've, Esposito, Buffett, Beckham, Berkshire Hathaway, Warren Buffett, David Beckham, Goldman's Organizations: Business

☆ Elizabeth Warren rips Fed for fueling affordability crisis in housing, calls for rate cuts
▼ + stars: | 2024-01-29 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —America has a housing affordability crisis and Elizabeth Warren blames Jerome Powell and his colleagues at the Federal Reserve. To fight inflation, the Fed spiked interest rates at the fastest pace since the early 1980s. However, the Fed’s war on inflation set off shockwaves in the housing market. The one-two punch of elevated borrowing costs and record-high home prices has made the housing market historically unaffordable. “High interest rates have aggravated the country’s crisis of housing access and affordability,” the Senate Democrats wrote.

Persons: Elizabeth Warren, Jerome Powell, Powell, Warren, ” Warren, Democratic Sens, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, Freddie Mac, “, Tom Barkin didn’t, ” Organizations: New, New York CNN, Federal Reserve, CNN, Democratic, Democrats, Fed, National Association of Home Builders, Mortgage Bankers Association, National Association of Realtors, Richmond Fed Locations: New York, America, White

Kess raised his price target to $47 from $36, suggesting 11% upside from Tuesday's close. His price target, cut to $276 from $311, implies roughly 10% downside from Tuesday's close. "We upgrade SUN to Buy and lift our [target price] to $65 following several cash flow accretive transactions," Dounis wrote. "The January 11th transactions drive ~25% of the target price increase; the NS Acquisition drives the remaining ~75% increase." NKLA mountain 2020-07-01 NKLA since 2020 Still, the analyst's $2 price target implies the stock could surge more than 200% from here.

Persons: Morgan Stanley, Daiwa, Jonathan Kees, Kess, — Michelle Fox, Jon Tower, Chipotle, Sarah Min, Gordon Haskett downgrades Uber, Gordon Haskett, Robert Mollins, Uber, Mollins, — Jesse Pound, Colin Bristow, Bristow, Michael Tyndall, Stellantis, Tyndall, — Sarah Min, Pierre Ferragu, Lisa Su, Ferragu, Sunoco, Spiro Dounis, Dounis, Baird, Nikola, Ben Kallo, NKLA, Kallo, it's, Jessica Reif Ehrlich, Morgan Stanley's Benjamin Swinburne, Swinburne, Goldman Sachs, Eric Sheridan, Erik Woodring, Woodring, Fred Imbert Organizations: CNBC, Big Tech, Wall Street, NewStreet Research, Verizon, Daiwa, Verizon Communications, VZ, Citi, Mexican, UBS downgrades, UBS, HSBC, AMD, Research, NuStar Energy, Zenith Energy, Energy, Netflix, Bank of America, Apple Apple, Edge, Apple Locations: Seattle, Biogen, Skyclarys, Stellantis, Europe, China

☆ Volkswagen and more: Barclays names European 'conviction' stock ideas — and gives one 59% upside
▼ + stars: | 2024-01-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The Wall Street bank named the following five companies in its European "Conviction with Catalysts" list of stock ideas that offer strong upside potential. Enav Topping the list with the biggest upside potential is Enav , an air traffic controller company based in Italy. UCB Barclays believes Belgian biopharmaceutical company UCB can beat 2023 sales expectations thanks to its new psoriasis drug Bimzelx. Although the drug has struggled in the U.S. over side effect warnings, Barclays sees signs of healthy global demand. Volkswagen Barclays believes Volkswagen offers turnaround potential in 2024 after a disastrous 2023 and 2022.

Persons: Emmanuel Cau, Enav, — CNBC's Michael Bloom Organizations: Barclays, UCB Barclays, Belgian, UCB, ABN Amro Dutch, ABN Amro, ABN, Vivendi, Volkswagen Barclays, Volkswagen Locations: Italy, U.S

☆ JPMorgan and Morgan Stanley reveal their top U.S.-listed Chinese internet stocks
▼ + stars: | 2024-01-23 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Morgan Stanley and JPMorgan named their key China internet picks and the themes to watch right now. Focus is on resilient content leaders, unique growth opportunities, and AI enablers," Morgan Stanley said in a Jan. 18 note. Baidu Morgan Stanley described Baidu as the "best AI play" in China. Morgan Stanley pointed to its steady operating margin expansion and record-high subscription revenue growth in the second to third quarter of 2023. Morgan Stanley's price target is $150, or 67.7% potential upside.

Persons: Morgan Stanley, JPMorgan, Pinduoduo, Morgan, Baidu Morgan Stanley, Baidu, NetEase, — CNBC's Michael Bloom Organizations: JPMorgan, Alpha, Baidu Locations: China, United States

☆ CNBC Daily Open: Markets' upbeat sentiment
▼ + stars: | 2024-01-23 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Traders work on the floor of the New York Stock Exchange (NYSE) on October 30, 2023 in New York City. [PRO] Wall Street's China picksWall Street banks Morgan Stanley and JPMorgan have highlighted key China internet picks for this year. Both firms think an alpha-driven investment strategy will provide good risk-reward for the sector and picked some themes to watch.

Persons: bitcoin, Morgan Stanley Organizations: CNBC, New York Stock Exchange, Dow Jones, Nasdaq, Bloomberg, BOJ, Bank of Japan, Metrics, JPMorgan, Alpha Locations: New York City, Wall, Asia, Hong, China, Covid

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