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Elsewhere, TD Cowen raised its price target on Costco to $975. 7:04 a.m.: TD Cowen raises Costco price target TD Cowen is even more bullish on Costco after hosting the company's leadership for a post-earnings meeting. Analyst Brian Bedell reiterated his buy rating and lifted his price target by $3 to $27, implying about 13% upside. With that, analyst Stephen Scouten upgraded Amerant to overweight from neutral and raised his price target by 50 cents to $25.60. — Pia Singh 5:50 a.m.: TD Cowen upgrades Accenture Investors should buy shares of Accenture as the company's recovery gains steam, according to TD Cowen.
Persons: Morgan Stanley, TD Cowen, Cowen, Oliver Chen, Costco's, Chen, Gary Millerchip, — Pia Singh, Brian Bedell, Bedell, Robinhood, Wells, Donald Fandetti, Fandetti, Piper Sandler, Amerant, Stephen Scouten, Scouten, JPMorgan Chase, Betsy Graseck, Graseck, NIM, Bryan Bergin, Bergin, Fred Imbert Organizations: CNBC, JPMorgan Chase, Accenture, Costco, Deutsche Bank, American, Amerant, JPMorgan, Services Locations: Florida, Friday's
Check out the companies making headlines in midday trading: Nio — The U.S.-listed shares of the Chinese electric vehicle maker climbed 9.5% after Nio announced a 13.3 billion yuan cash injection for its Nio China business. The transactions are expected to be completed by year-end, and will reduce Nio Inc.'s stake in Nio China to 88.3% from its current 92.1%. CVS Health — Shares jumped 3.3% on news that hedge fund Glenview Capital intends to meet with CVS Health's executives to boost the struggling business. Crypto stocks — Stocks tied to the price of bitcoin retreated with the cryptocurrency following a sizeable rally last week. Cumberland Hospital for Children and Adolescents is an "indirect subsidiary" of Universal Health Services, according to an 8-K filing.
Persons: Nio, Alibaba, Stocks, bitcoin, Coinbase, MicroStrategy, Bitcoin, EchoStar, Piper Sandler, Stephen Scouten, — CNBC's Sean Conlon, Tanaya Macheel, Sarah Min, Jesse Pound, Pia Singh Organizations: Nio Inc, GM, Ford, CVS, , Glenview Capital, CNBC, DirecTV, Amerant, Moderna, Universal Health Services, Cumberland Hospital for Children Locations: U.S, China, Glenview, Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailScouten: Expected to see some weakness with banks and commercial real estate at some pointStephen Scouten of Piper Sandler discusses whether this week's slide in shares of New York Community Bank is a sign of broader issues in the regional banks.
Persons: Stephen Scouten, Piper Sandler Organizations: New York Community Bank
Roughly $2.1 trillion of debt connected to commercial real estate assets, including office properties, apartment buildings, hotels, and retail spaces, will come due between now and the end of 2025 in the US, according to the real estate services firm JLL. The wave of maturities and the enormous equity shortfalls have raised concerns that a growing number of commercial real estate debts will fall into distress, forcing banks and other lenders to suffer losses. His group tracked about $15 billion of commercial property debt sales during the year, roughly three times the volume from 2022. Commercial real estate loans differ from residential mortgages taken by homeowners in that most are interest-only or pay down their principal balance minimally and span a decade or less. More banks are exploring loan salesBanks and other lenders generally aren't eager to seize the real estate assets that collateralize their debt.
Persons: Jerry, Stephen Scouten, Piper Sandler, it's, Kevin Aussef, Aussef, David Tobin, Marcus, Millichap, Synovus, Tobin, David Frosh, they're, Frosh, Fitch, David Blumberg, we'd, Blumberg, Daniel Geiger, Rob Verrone, Banks, You've, Bliss Morris, Morris Organizations: Amerant Bank, Business, Banking, CIBC, Mission, PacWest, HSBC, Fidelity, Funding Inc, Blackstone, Bloomberg, Broadway, Aon Center, 601W Companies, Iron Hound Management, First Financial Locations: Coral Gables , Florida, Houston, Canadian, Brookfield, Los Angeles, Columbus, Manhattan, Midland, Chicago, Oklahoma City, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailScouten: Trends in financials are improving into the back half of this yearStephen Scouten, Managing Director at Piper Sandler, discusses the big and regional bank earnings on tap.
Persons: Stephen Scouten, Piper Sandler
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow the Fed's rate hike pause impacts the financial and banking sectorStephen Scouten, Piper Sandler Managing Director in FSG Research, discusses how the latest Fed policy decision will likely impact the financials sector.
Persons: Stephen Scouten, Piper Sandler Organizations: Research
Two financial sector experts discuss the big bank earnings ahead
  + stars: | 2023-04-14 | 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 EmailTwo financial sector experts discuss the big bank earnings aheadStephen Scouten, Managing Director in FSG Research at Piper Sandler, and Devin Ryan, Director of Financial Technology Research at JMP Securities, discuss their expectations for bank earnings.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailScouten: Big bank stocks and select regionals are flight-to-safety trades in the finanicals sectorPiper Sandler's Stephen Scouten discusses the financial sector's underperformance this quarter.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo top bank analysts say the backstopping that's going on at the federal level will help stem the tide of recent losses in the sectorStephen Biggar of Argus Research and Stephen Scouten of Piper Sandler discuss the health of the bank sector -- large-cap, regional and mid-size lenders -- amid the ongoing turmoil in the wake of the collapse of SVB and Signature Bank, pressure on First Republic and UBS' takeover of Credit Suisse.
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