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☆ Eli Lilly vs. Novo Nordisk: The pros deliver their verdict on the viral weight-loss stocks
▼ + stars: | 2023-12-06 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

It has been quite a year for both Eli Lilly and Novo Nordisk given the boom in weight-loss drugs. Shares in Eli Lilly are up around 60% year-to-date, while its Danish counterpart Novo Nordisk has seen a gain of around 50%. At present, both Eli Lilly and Novo Nordisk offer weight loss treatments. Novo Nordisk Novo Nordisk's Wegovy recently made headlines for reducing the risk of heart attacks and strokes by 20% in adults with heart disease and obesity. Aside from Eli Lilly and Novo Nordisk, Pfizer , Johnson & Johnson and AstraZeneca are also developing weight-loss drugs.

Persons: Eli Lilly, Stocks, Rahul Ghosh, Rowe Price, TRP's Ghosh, Eli Lilly's, Ghosh, FactSet, Lilly, Novo Nordisk Novo Nordisk's Wegovy, Elizabeth Field, Squawk, What's, it's, Michael Bloom Organizations: Novo Nordisk, Nordisk, CNBC Pro, U.S . Food, Administration, pharma, Novo Nordisk Novo Nordisk's, Heart Association Scientific, Citi, Pfizer, Johnson, AstraZeneca, Barclays Locations: Danish, U.S, Novo

☆ JPMorgan nailed its 2023 forecast for European stocks. Here’s its 2024 call
▼ + stars: | 2023-12-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

JPMorgan predicts European stock markets will struggle to produce positive returns next year as investors digest slowing economic growth across the continent. The forecast for 2024 comes from the same team of strategists that have, so far, accurately called the MSCI Eurozone's performance this year. They expected the index to rise 9.1% to close at 256 points by the end of December 2023 on a local currency basis. "We look for flat European [earnings per share] growth in 2024, based on no recession materializing," said JPMorgan strategists led by Mislav Matejka in a note to clients on Nov. 29. The JPMorgan strategists believe stocks will sink in the first half of 2024 as markets factor in potential downward adjustments to earnings estimates.

Persons: Mislav Matejka, CNBC's Michael Bloom Organizations: JPMorgan, FTSE

☆ These 5 stocks are on Goldman's European conviction list — and it gives one 130% upside
▼ + stars: | 2023-12-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs has unveiled its "conviction list" of top stock picks in Europe for December — and London-listed shares of BT Group stand out. Goldman Sachs expects BT's share price to more than double to 290 pence over the next 12 months. Wall Street rivals Morgan Stanley and JPMorgan also believe BT shares are mispriced as investors have undervalued its network arm, Openreach. Conviction list Other prominent stocks on Goldman's conviction list include Delivery Hero , Burberry , Bureau Veritas and Philips . Goldman notes that its conviction list should not be seen as a portfolio, as the stocks are not weighted.

Persons: Goldman Sachs, Goldman, Morgan Stanley, Openreach, Terence Tsui, — CNBC's Michael Bloom Organizations: BT Group, BT, Wall, JPMorgan, Burberry, Veritas, Philips Locations: Europe, London

☆ Coinbase comeback has further to go as retail investors are only starting to rediscover crypto, Needham says
▼ + stars: | 2023-12-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Coinbase shares have even further to climb despite already being up 13% since the start of December and the low appetite for crypto coming from retail investors, according to Needham. Needham raised its price target on Coinbase on Tuesday to $160 from $120, implying about 13% upside from its closing price Monday. Meanwhile, although retail investors' appetite for crypto has improved since bottoming a year ago after the collapse of FTX, interest is generally low, according to Needham. "Retail crypto engagement is considerably lower than in prior years and despite the recent price gains, has been fairly muted," Todaro said. Dominance tends to rise in bear markets as investors rotate into the safety of bitcoin compared to other crypto coins .

Persons: Needham, John Todaro, Todaro, Coinbase, Franklin Templeton, Michael Bloom Organizations: U.S . Department of Justice, Apple Locations: Needham, U.S, BlackRock, WisdomTree, bitcoin

☆ Goldman breaks down the laggard trade and gives its comeback picks for first quarter 2024
▼ + stars: | 2023-12-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Today's market-leading stocks may not have the luxury to sit on their laurels, according to Goldman Sachs. Since Goldman Sachs began tracking the "Laggards" trade in 2022, the trend has held up 13 years out of 21, according to Mehta. The laggards have on average outperformed the S & P 500 by 130 basis points. The first, "differentiated buys," includes opportunities where Goldman Sachs analysts have out-of-consensus buy ratings. Finally, Goldman Sachs analysts also identified stocks with a "track record of CROCI [cash return on capital invested] generation," a metric that evaluates a company's cash return against its total equity.

Persons: Goldman Sachs, there's, Deep Mehta, Mehta, Laggards, laggards, Locker, — CNBC's Michael Bloom Organizations: Financial, Barclays, Mosaic, CF Industries, Clear, Chesapeake Energy, Shoals Technologies, Biomarin Pharmaceutical, Body Works, Mohawk Industries, Bristol, Myers Squibb, Honeywell International, United Parcel Service Locations: . Norfolk Southern, Bath

☆ S&P 500 rallies to key 4,600 level and nears all-time high. What chartists say happens next
▼ + stars: | 2023-12-05 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Investors are watching the S & P 500 after it rallied back toward the key 4,600 level to see if it can break out to new all-time highs. A record high in the S & P 500 looks promising after the broader index on Friday closed at 4,594.63, or its best level since March 2022. In July, the last time the S & P 500 tested the threshold, the rally was led by mega-cap tech stocks. On Monday, the market rally took a breather; the S & P 500 ended the session lower by 0.5%, and it stood about 5% below its record. In fact, one market technician on Monday said the S & P 500 could plunge back to its bear market lows in 2024.

Persons: Stocks, Wolfe, Rob Ginsberg, Ginsberg, BTIG's Jonathan Krinsky, you've, JPMorgan's, Jason Hunter, Hunter, CNBC's, Adam Turnquist, he's, Oppenheimer's Ari Wald, Wald, JC O'Hara, Roth MKM, Lululemon, O'Hara, — CNBC's Michael Bloom, Chris Hayes Organizations: Broadcom Locations: oversold

☆ These 3 stocks could rally by another 50%, analysts say, despite big jumps this year
▼ + stars: | 2023-12-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Three stocks — Liberty Broadband , U.K.'s BT Group and JD Sports Fashion — have risen by double-digit percentages this year. Liberty Broadband Liberty Broadband is a telecommunication holding company that has an ownership interest in Charter Communications, the second-largest cable operator in the United States. The consensus price target of analysts polled by FactSet points to a 55% upside potential for Liberty Broadband shares from the current share price of $82. Deutsche Bank views Liberty Broadband as an attractive way to invest in Charter, estimating it trades at a 32% discount to net asset value (NAV). BT.A-GB YTD line Their price target of 220 pence implies an additional 79% share price increase over the next year from the current share price of 123 pence.

Persons: FactSet, Bryan Kraft, Benjamin Soff, Morgan Stanley, Openreach, Terence Tsui, Kate Calvert, Calvert, JD, Michael Bloom Organizations: Liberty Broadband, BT Group, JD, Wall, CNBC Pro, CNBC Pro Stock, Liberty Broadband Liberty Broadband, Charter Communications, Deutsche Bank, CHTR, BT, JD Sports, North America, Dick's Sporting Goods Locations: United States, Alaska, U.K, BT.A, Europe, North, Derby, Heerlen, Netherlands, U.S

☆ This unusual company that cashes in on boardroom brawls is set for windfall from Disney-Peltz fight
▼ + stars: | 2023-12-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Broadridge Financial Solutions , which provides proxy services for big corporations during boardroom brawls, could generate as much as $50 million in event-driven revenue from the Peltz-Disney war, according to Evercore ISI analyst David Togut. During Trian's 2017 proxy battle against Procter & Gamble, the consumer giant paid about $60 million to Broadridge for proxy service, Togut said. Evercore ISI said a company's retail investor base is the best representation for Broadridge's revenue. Since Disney has 81% of the retail shares P & G has, it estimated that Broadridge could make up to $50 million from the proxy war. Evercore ISI set an outperform rating on Broadridge and raised its 12-month price target to $230 from $226.

Persons: Nelson Peltz's, David Togut, Broadridge, Togut, Evercore, Peltz, Trian, Ike Perlmutter, Bob Iger, — CNBC's Michael Bloom Organizations: Disney, Procter & Gamble, Marvel Entertainment, Evercore ISI

☆ Uber shares pop as company is slated to join S&P 500
▼ + stars: | 2023-12-04 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Shares of Uber rose more than 5% on Monday after S&P Dow Jones Indices announced Friday that the ride-hailing company has been selected to join the S&P 500. Analysts at Oppenheimer reiterated their outperform rating on the stock and raised their price target to $75 per share from $65. They said Uber's ticket into the S&P 500 will likely help improve investors' sentiment about returns. Members of the index must have positive earnings in the most recent quarter and over the prior four quarters in total, according to S&P's rules. Uber also has a market cap of about $118 billion, which surpasses the S&P's criteria that companies must have an adjusted market cap of at least $14.5 billion.

Persons: Dara Khosrowshahi, Dow, Oppenheimer, Uber, — CNBC's Michael Bloom Organizations: Economic Cooperation, APEC, Dow Jones, Air Corp, CNBC PRO, &' $ Locations: Asia, San Francisco , California

☆ Keep buying this GLP-1 juggernaut that's already up nearly 50% this year, TD Cowen says
▼ + stars: | 2023-12-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Novo Nordisk is blessed with an extremely promising growth outlook, according to TD Cowen. NVO YTD mountain Novo Nordisk YTD chart Novo Nordisk is one of the largest makers of glucagon-like peptide 1 drugs used to treat both diabetes and obesity. "The company's merits have been widely recognized, and its shares have outperformed, but we believe there is more gas in the tank," the TD Cowen analyst wrote. For one, the analyst expects Novo's strong revenue and earnings growth to outpace its peers, especially as the company benefits from global GLP-1 supply constraints. "We are optimistic for favorable outcomes on all fronts," the analyst wrote.

Persons: TD Cowen, Michael Nedelcovych's, Cowen, Nedelcovych, Novo's, NASH, — CNBC's Michael Bloom Organizations: Novo Nordisk, Nordisk, Novo, European Union Locations: Danish, Novo

☆ Here's where to invest $250,000 for the next 5 years
▼ + stars: | 2023-12-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

CNBC Pro spoke to financial advisors and investment experts to find out how they would allocate $250,000 over the next five years. Preferred Stocks: Preferred stocks have attractive yields and are depressed after two years of weak stock and bond markets — and so are set to gain if the stock market recovers, Hatfield said. Preferred stocks have characteristics of both stocks and bonds — they trade on exchanges like stocks but they have a face value and pay dividends like bonds. They are also like bonds in that when the value of the preferred stock goes down, yields rise. $30,000 to investment grade bonds: This is a conservative investment that will benefit if long-term rates rally, he said.

Persons: Jay Hatfield, Hatfield, Microsoft —, Paul Gambles, James McManus, McManus, — CNBC's Michael Bloom Organizations: CNBC, Infrastructure Capital Advisors, U.S . Preferred, Nasdaq, Nvidia, Microsoft, U.S . Federal Reserve, Family, JPMorgan Locations: U.S, Hatfield, Asia, Pacific, Europe

☆ Buy these stocks with high dividend growth and free cash flow yield, Wolfe says
▼ + stars: | 2023-12-04 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

The best long-term dividend growth strategy is to buy stocks that offer a combination of high dividend growth and high free cash flow yield, the strategist said. Here are 10 names that Wolfe likes for their high dividend growth and free cash flow yields. NXP Semiconductors, for instance, has a 2% dividend yield and last 12 months dividend growth of 32%. It has a 6% estimated free cash flow yield for 2024. Meanwhile, Qualcomm has a 6% estimated free cash flow yield for 2024 and 9% last 12 months dividend growth.

Persons: Chris Senyek, Wolfe, Karen Lynch, Kroger, — CNBC's Michael Bloom Organizations: Wolfe Research, CVS, CNBC, NXP Semiconductors, Skyworks Solutions, Qualcomm Locations: U.S

☆ China’s version of Spotify is ‘underappreciated,’ Morgan Stanley says
▼ + stars: | 2023-12-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Tencent Music Entertainment is convincing more people in China to pay for music. Because of the size of China's market, it's more than Spotify 's claim of 574 million monthly active users —across 184 countries and territories. TME's "music value [is] still underappreciated," Morgan Stanley analysts led by Alex Poon wrote in a late November report. "We see room for [TME] music revenue to double and profit to triple in the next three years," the Morgan Stanley analysts wrote, noting "limited risks from macro and competition." Revenue from music subscriptions is estimated to rise 38% in 2023 versus 2022, Morgan Stanley estimates.

Persons: That's, Morgan Stanley, Alex Poon, ADRs, TME, Alex Yao, Gross, JPMorgan's Yao, Tencent, — CNBC's Michael Bloom Organizations: Tencent, Entertainment, Spotify, Kugou Music, JPMorgan Locations: China, U.S, Tencent, 3Q23

☆ Goldman says 2024 will be ‘the year of the bond.’ Here's how it says to invest
▼ + stars: | 2023-12-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

There's good news for fixed-income investors heading into next year, according to Goldman Sachs Asset Management. After a dismal 2023, next year will be "the year of the bond," predicted Lindsay Rosner, head of multisector fixed income investing at the money manager. "Fixed income is a great place to be," she said in an interview with CNBC. The investment firm recently released its outlook for 2024 and called the recent run of negative fixed income returns in response to "an inflation and policy shock" an anomaly and not the trend. "Given [that] duration can be your friend again, things are lining up to put you in a really good position in fixed income."

Persons: Lindsay Rosner, TINA, TARA, Goldman, Rosner, Michael Bloom Organizations: Goldman Sachs Asset Management, CNBC, Federal Reserve, Treasury

☆ Goldman Sachs loves this sub-sector in China — and names 3 stocks to buy
▼ + stars: | 2023-12-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

China e-commerce is one of Goldman's top preferred sub-sectors — and there will be six key themes coming up in 2024, the bank said. The themes are: Consumers' focus on value for money — for which e-commerce platforms are well positioned. Goldman said that despite slowing consumption growth in China, e-commerce and e-commerce advertising is still one of its top preferred sectors — thanks in part to global expansion and attractive valuations. Goldman also expects its global e-commerce arm Temu to continue its growth momentum as a result of its global expansion. Goldman expects its third favored name — Kuaishou — to continue outpacing the industry.

Persons: —, Goldman, Pinduoduo, Temu, Kuaishou, — CNBC's Michael Bloom, Evelyn Cheng Locations: China, U.S, Pinduoduo, China's

☆ UiPath stock spikes more than 20% after earnings beat, generative AI integration
▼ + stars: | 2023-12-01 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

Co-founder and CEO of UiPath Daniel Dines speaks on stage at TechCrunch Disrupt Berlin 2019 at Arena Berlin in Berlin on Dec. 12, 2019. UiPath stock popped more than 20% on Friday, one day after the company released quarterly earnings that beat Wall Street's top- and bottom-line expectations. UiPath also raised its fourth-quarter and full-year fiscal 2024 outlook for annual recurring revenue. For companies like UiPath that are reliant on subscriptions, annual recurring revenue is an important metric that reveals how much money a company receives on a recurring basis. "The weaving of Generative AI into its broadened automation platform, is driving strong adoption amongst enterprises," the analysts wrote.

Persons: UiPath Daniel Dines, UiPath, Davidson, — CNBC's Michael Bloom Organizations: TechCrunch, Berlin, Bank of America, CNBC PRO Locations: Berlin

☆ Here are JPMorgan’s top stock picks heading into December
▼ + stars: | 2023-12-01 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

JPMorgan Chase added a key information security stock to its list of favorite stock picks for December and parted with three names, including HP , from November . The firm added CyberArk to its Analyst Focus List, as well as biopharmaceutical firm Cytokinetics . The JPMorgan list covers its best stock ideas that fit into three categories: growth, value and short investment ideas. Here are some of the other top picks on the JPMorgan list. CYBR YTD mountain CyberArk stock.

Persons: JPMorgan Chase, Nicholas Rosato Jr, Rosato, — CNBC's Michael Bloom Organizations: JPMorgan, HP, Palo Alto Networks, North

☆ November’s rally has set the 60/40 portfolio on track for its best month since 2020
▼ + stars: | 2023-11-30 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Investors who held a balanced portfolio and just let it ride through November are about to be handsomely rewarded: The 60/40 portfolio is cruising to its best month in three years. That's just short of the 7.5% advance in November 2020, when progress on Covid vaccines heralded an economic reopening. AOR YTD line YTD performance for iShares Core Growth Allocation ETF (AOR) First, bond yields cooled substantially in November. Bond yields decline when bond prices rise, so cooling rates have lifted prices for fixed income allocations. A recovery in both asset classes has since lifted the AOR to a total return of 10.8% for 2023, showing that staying the course can pay off.

Persons: That's, Henry Allen, they've, — CNBC's Michael Bloom Organizations: Federal Reserve, Deutsche Bank, Fed, ECB Locations: Wednesday's

☆ Analysts increasingly believe this retailer is the top holiday pick
▼ + stars: | 2023-11-30 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Analysts on Wall Street think Five Below is the retail stock investors should be buying as the holiday shopping season picks up steam. The report underpins a broader bullish trend for the retailer, analysts say, which is a more cost-sensitive consumer who is partial toward bargain hunting. Analyst Jason Haas noted the popularity of Five Below could improve further as shoppers gear up for the Christmas holiday. FIVE becomes most needs-based during the holiday season and the rollout of Five Beyond (products $6-25) better positions it in the gift-giving category." "All in, we think FIVE is well positioned to outperform in the current environment and will gain share behind several catalysts (e.g.

Persons: Jason Haas, Haas, Krisztina Katai, Katai, Morgan Stanley's Simeon Gutman, Gutman, — CNBC's Michael Bloom Organizations: LSEG, Bank of America, Deutsche Bank

☆ Nvidia and more: These global stocks will soar on a $324 billion autonomous vehicle boom, analysts say
▼ + stars: | 2023-11-30 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Autonomous vehicles — or vehicles embedded with chips and sensors to enable self-driving — have been picking up steam, and several stocks make good plays on the theme, according to Fubon Research. Providers of sensors and cameras are among the autonomous vehicle related companies on Fubon Research's watch. 3008-TW YTD mountain Year-to-date share price of Largan Precision On Largan, Fubon Research's analysts pointed out that the company stands to gain from the addition of cameras in autonomous vehicles. "Cameras have become an important part of ADAS and autonomous driving. NVDA YTD mountain Year-to-date share price of Nvidia Meanwhile, Nvidia made Fubon Research's watch list thanks to its development of autonomous vehicle technologies under its NVIDIA DRIVE platform.

Persons: Fubon, Tong, — CNBC's Michael Bloom Organizations: Research, Jefferies, Autonomous, Nvidia, NVIDIA, Primax Electronics, Qualcomm Inc Locations: Taiwan, ADAS

☆ Raymond James sees 'mild' recession, single digit stock return next year
▼ + stars: | 2023-11-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Raymond James is bracing for a "mild" recession in the new year that will likely result in only "modest positive gains" for equities in 2024. "Single Digit Returns A Decent Base Case," he added. In Raymond James' base case scenario, or what it believes is the most likely assumption, McCourt said that corporate profit expectations likely need to come down. Heading into the new year, Raymond James favors several stock sectors, among them medical devices, financial services and insurance issues. In its base case scenario, real estate, utilities and telecom offer the best risk-reward.

Persons: Raymond James, Tavis McCourt, McCourt, — CNBC's Michael Bloom Organizations: Nasdaq

☆ Stocks just had their best month of the year. Why it happened and who led the way
▼ + stars: | 2023-11-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

The S & P 500 entered Thursday up 8.5% in November, on track for its best month since July 2022. .SPX 1M mountain November is shaping up to be the best month of the year for the S & P 500. Through mid-November, when 94% of S & P 500 companies had reported results, third quarter earnings were tracking about 4.3% above the same time last year, according to FactSet. Top stocks Another important change in November is the stocks leading the way. Of the 10 biggest stocks in the S & P 500, five rose at least 10% in November, including the two largest in Apple and Microsoft .

Persons: John Stoltzfus, Oppenheimer, Angelo Kourkafas, Edward Jones, It's, it's, Yung, Yu Ma, That's, Santa Claus, Chris Verrone, — CNBC's Michael Bloom Organizations: Treasury, Federal, PCE, Fed, CNBC, Expedia, Carnival Corp, Generac Holdings, Paramount Global, Insulet Corp, BMO Wealth Management, Apple, Microsoft, Tesla, Energy, OPEC Locations: U.S, Santa

☆ What Wall Street analysts expect from Tesla's Cybertruck launch event
▼ + stars: | 2023-11-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Tesla is set to kick off deliveries of its long-awaited Cybertruck Thursday, but not everyone on Wall Street is convinced the debut will move the needle in terms of stimulating growth for the Elon Musk-run company. TSLA 1M mountain Tesla shares over the last month To be sure, despite some cautionary commentary from major Wall Street firms, Tesla shares have almost doubled in 2023 as investors veered back into growth stocks. "However unlikely just a few days before first deliveries, canceling Cybertruck would probably be positive for shares," he wrote in a report to clients while reducing his Tesla price target to $210 from $250 a share. By itself, however, the new truck won't help Tesla's shares, Guggenheim believes. Jewsikow most recently retained a $125 price target on the stock, implying 49% downside from Wednesday's close.

Persons: Tesla, Ronald Jewsikow, Philippe Houchois, Tom Narayan, Narayan, Guggenheim's, Tesla's, Guggenheim, — CNBC's Michael Bloom Organizations: Elon, Guggenheim Securities, Tesla, Treasury, Jefferies, RBC Capital, RBC

☆ With geopolitical tensions mounting, Bernstein expects 3 defense stocks to soar 20%
▼ + stars: | 2023-11-29 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

"The rising geopolitical threats in APAC has been a driver of military spending for the Western nations. In addition, APAC countries have become more important for their own military expenditures, which present some opportunities for Western defense contractors through either exports or partnerships," they added. Quoting research from the Stockholm International Peace Research Institute , Bernstein said that global defense spending reached a record high of $2.2 trillion last year. Why is defense spending on the rise? For instance, South Korea's defense spending is high given its longstanding tensions with neighbor North Korea.

Persons: AllianceBernstein, Bernstein, Northrop Grumman, CNBC's Michael Bloom Organizations: Asia, Stockholm International Peace Research Institute, Boeing Co, Dassault Aviation, U.S Locations: Asia, Pacific, U.S, APAC, Stockholm, China, North Korea, North America, Europe, Russia, Japan, Australia, United Kingdom, India, Pakistan, Soviet, Vietnam, Philippines, Taiwan, Malaysia, Brunei

☆ Citi is so bullish on this biotech stock it gives it 800% potential upside
▼ + stars: | 2023-11-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Citi is so bullish on one biotech firm that it has given its shares a target price that represents around 800% upside. In a Nov. 22 note, Citi gave the stock a buy rating and a price target of $90, representing potential upside of around 818% from Tuesday's price. However, the bank cautioned that the stock is high risk, given the "typical volatility" of biotech stocks and uncertainty associated with clinical trials. According to FactSet, analysts covering the stock give it average price target upside of 385% and a buy rating of 88%. On FactSet, the highest estimate came from Oppenheimer, which gives it potential upside of over 600%.

Persons: —, Oppenheimer, — CNBC's Michael Bloom Organizations: Citi, Citi isn't, BMO Capital Markets, BMO, P Biotech ETF, Biotech Locations: U.S

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