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☆ Jefferies upgrades this little-known biotech stock with more than 100% upside
▼ + stars: | 2023-11-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

The firm upgraded shares of the late-stage biotech to buy from hold, lifting its price target to $26 from $18. Shares of Vera Therapeutics have fallen 37.8% this year, but analyst Farzin Haque believes the stock's recent pullback now means an attractive entry point for investors. VERA YTD mountain VERA YTD chart "W/ shares down –30% (vs XBI –13%) since Sept 21 TVTX data release, we have become more optimistic about atacicept (dual BAFF/APRIL) clin profile," Haque wrote. Atacicept, which Vera took over from Merck, is a drug that treats certain autoimmune diseases. "W/ recent increasing focus on eGFR, VERA's OLE data from ph.II for longer-term eGFR data (expected 1Q24) has now become an important catalyst for the stock," Haque said.

Persons: Vera, Jefferies, Vera Therapeutics, Farzin Haque, VERA YTD, VERA, Haque, Lupus nephritis, — CNBC's Michael Bloom Organizations: Vera, Merck Locations: ph.II

☆ There's a new entry into the weight loss drug boom. Here's the outlook for the stock
▼ + stars: | 2023-11-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

AstraZeneca is the latest player to enter the weight loss drug arena, a market which some analysts have forecasted could reach $100 billion by 2030 . The GLP-1 drug market is currently dominated by two players: Novo Nordisk , which sells Type 2 diabetes treatment Ozempic and weight loss medication Wegovy, and Eli Lilly , which sells Mounjaro as a treatment for Type 2 diabetes. Lilly just had the weight loss version of its drug, Zepbound , approved by the Food and Drug Administration. It's still early days for AstraZeneca's ECC5004 drug, which is being assessed in a U.S.-based phase 1 trial involving patients with Type 2 diabetes. He currently rates AstraZeneca stock as overweight.

Persons: Eccogene, Wegovy, Eli Lilly, Lilly, It's, Colin White, James Gordon, Morgan Stanley, Mark Purcell, AstraZeneca's Farxiga, Purcell, Michael Bloom, Christina Cheddar, Berk Organizations: AstraZeneca, Novo Nordisk, Food and Drug Administration, Centers for Disease Control, UBS, Wall Street, JPMorgan Locations: U.S

☆ 'Golden opportunity': Morgan Stanley says it's a good time to buy gold stocks — and names its top global picks
▼ + stars: | 2023-11-09 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Now is a good time to buy gold stocks, according to Morgan Stanley. Notably, gold stocks underperformed gold prices by about 20% in the last three months, the investment bank's analysts, led by Sandeep Peety, wrote in a Nov. 2 note. Morgan Stanley named several stocks to play the "golden opportunity." 'Preferred play' Morgan Stanley named Endeavour Mining , a London-headquartered multinational mining company, as its "preferred play." Other overweight-rated stocks Other gold mining companies that the investment bank gave an overweight rating include Australia's Evolution Mining and Regis Resources and China's Zijin Mining Group .

Persons: Morgan Stanley, Sandeep Peety, — CNBC's Michael Bloom Organizations: Endeavour Mining, Regis Resources, Zijin Mining, Mining, Compania De Locations: Israel, London, EDV, Ivory, Massawa, Senegal, Compania De Minas Buenaventura

☆ Beware these companies due to report earnings that have negative profit momentum
▼ + stars: | 2023-11-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

CNBC Pro screened for the S & P 500 companies still reporting next week that analysts have expressed the most caution on — by cutting their earnings estimates ahead of the reports. Analyst consensus earnings estimates are down at least 5% over the past three months. Analyst consensus earnings estimates are down at least 5% over the past six months. CTLT YTD mountain Catalent YTD chart "Catalent (CTLT) became a very noticeable laggard in the life science space about fifteen months ago. Meat producer Tyson Foods , which is due to report earnings premarket on November 13, was also among the stocks with negative earnings momentum.

Persons: Gordon Haskett, Don Bilson, Bilson, Catalent, Michael Lasser, Lasser, Morgan Stanley, BBWI, Alex Straton, Tyson Foods, — CNBC's Michael Bloom Organizations: CNBC Pro, Biotechnology, Sarepta Therapeutics, Dystrophy, UBS, 3Q, Body Locations: Columbus , Ohio, Bath

☆ Patient Disney shareholders get some good news: The dividend is coming back
▼ + stars: | 2023-11-09 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

For the first time since 2020, Disney is planning to resume paying a dividend to shareholders as the media giant continues its turnaround amid historic industry shifts . "To that end, we will be recommending to the board that they declare a dividend by the end of this calendar year." Activist investor Nelson Peltz's Trian Fund Management, with $2.5 billion of Disney shares , has voiced his concerns about the elimination of dividends. Trian hasn't made a public statement since it ended its last activist campaign against Disney in January. Morgan Stanley said it looks forward to such a move, noting that Disney also suggested a return to share repurchases.

Persons: Kevin Lansberry, Nelson Peltz's, Trian hasn't, Lansberry, Bernstein, Morgan Stanley, Disney, Philip Cusick, — CNBC's Michael Bloom Organizations: Disney, Fund Management, Wall Street, ESPN

☆ Goldman is sticking by this beaten-up IPO, sees more than 75% upside
▼ + stars: | 2023-11-09 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Goldman Sachs thinks Instacart could be poised for a comeback. The firm reiterated a buy rating on the grocery delivery stock alongside a $48 per share price target. The company's initial public offering valued Instacart at roughly $10 billion. CART YTD mountain Instacart stock. Goldman Sachs analyst Eric Sheridan said the long-term view for Instacart remains sound, and the company will benefit from greater adoption of its platform and stronger advertising revenue.

Persons: Goldman Sachs, Instacart, Eric Sheridan, Sheridan, Michael Bloom Organizations: CART

☆ Here’s what's worrying analysts going into Disney’s earnings report
▼ + stars: | 2023-11-08 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Analysts are eyeing updates on Disney's direct-to-consumer business and ESPN ahead of fiscal fourth-quarter results Wednesday, as the company pivots further into streaming. The analyst has a buy rating on Disney stock with a $125 per share price target, down from $128. Here's what other analysts on Wall Street are saying ahead of Disney's results. MoffettNathanson - buy rating MoffettNathanson has a buy rating on Disney stock and a $115 per share price target. Wells Fargo - overweight rating Wells Fargo analyst Steven Cahall rates the stock overweight with a $110 per share price target.

Persons: Disney, Goldman Sachs, Brett Feldman, Jason Bazinet, Morgan Stanley, Ben Swinburne, Michael Nathanson, Nathanson, Wells, Steven Cahall, Cahall, Michael Bloom Organizations: ESPN, Disney, DIS, Hulu, Comcast, Citi, Press, Sports, CNBC

☆ ‘The gift that keeps on giving’: Morgan Stanley likes the memory sector and picks its top stocks
▼ + stars: | 2023-11-08 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

The tech theme has been reigning supreme this year and one segment in particular stands out to Morgan Stanley: the memory sector. The Morgan Stanley analysts have penciled in a 14% price hike for NAND and 10% increase for DRAM this quarter. Even so, Morgan Stanley says that the recovery in the memory sector is just starting and is still "front-running a lot of good things that are supposed to happen much later." Top pick and buy-rated stocks The optimistic outlook for the memory sector spells good news for a raft of stocks in Asia. Morgan Stanley is overweight on the stock and gives it a price target of 500 New Taiwanese dollars ($15.52), or around 1% upside.

Persons: Morgan Stanley, Morgan, Shawn Kim, Nvidia, — CNBC's Michael Bloom Organizations: Korean chipmaker SK Hynix, Samsung Electronics, —, SK Hynix, Korean, SK Hynix —, Samsung, Phison Electronics Locations: HBM, Asia

☆ Bank of America says there are two things that will drive the next bull run in stocks
▼ + stars: | 2023-11-08 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Artificial intelligence's influence on increased productivity and a strong consumer could underpin the next bull run on Wall Street, according to Bank of America. "I think this is actually a very underappreciated bull case," she added. The "Magnificent Seven" stocks in the S & P 500 have been large growth drivers for Wall Street for most of 2023. As long as those factors don't change, we think that the consumer can hang in there," she said. "We've had a big move in rates, but companies have so far been able to withstand it.

Persons: Savita Subramanian, Subramanian, it's, We've, Michael Bloom Organizations: Bank of America, Wall, Nvidia, Apple, Federal Reserve, Survey

☆ These are the stocks that will benefit — and lose out — from the wellness trend, Morgan Stanley says
▼ + stars: | 2023-11-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

The Covid-19 pandemic was a big factor behind the rising focus on weight and its implications for health, Morgan Stanley noted. CNBC Pro takes a look at the stocks Morgan Stanley says will be affected by those trends — both positively and negatively. Beneficiaries Morgan Stanley said "functional" foods, waters, skincare and cosmetics, and consumer health should be well positioned. Morgan Stanley upgraded its rating for Danone to "overweight." At risk Alcoholic beverages and soft drinks appear to be among categories most affected by the GLP-1 trend and the focus on wellness, Morgan Stanley said.

Persons: they're, Morgan Stanley, Mounjaro, Nestle, Remy Cointreau, Beers, Brewer, there's, Britvic, CNBC's Michael Bloom Organizations: Wellness, McKinsey, GLP, Walmart, CNBC Pro, Danone, United States —, Nestle, L'Oreal, Beiersdorf, Diageo, Brewer Anheuser, Busch Inbev Locations: Europe, United States, British

☆ Re/Max shares tumble as Morgan Stanley warns of litigation risks in wake of landmark realtor conspiracy ruling
▼ + stars: | 2023-11-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Shares of Re/Max sank Tuesday after Morgan Stanley warned the brokerage firm could be in for some rocky times ahead in the wake of a landmark ruling against realtors and brokerages. Morgan Stanley thinks the ruling could increase the risk of further litigation and expensive settlements. The bank downgraded Re/Max to underweight from equal weight and slashed its price target to $9 per share from $19.50. The brokerages typically take a slice of its agent's earnings. Shares of Re/Max have already lost more than 40% year to date.

Persons: Max, Morgan Stanley, Ronald Kamdem, Kamdem, Sellers, — CNBC's Michael Bloom Organizations: realtors, brokerages, National Association of Realtors

☆ S&P 500 returns tend to be measly in the 12 months leading up to a presidential election
▼ + stars: | 2023-11-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The 2024 U.S. presidential election is now only 12 months away, with the primary season set to begin Jan. 15. While every election year brings with it a unique mix of political and macroeconomic conditions, Goldman Sachs' portfolio strategy research team says equity returns tend to be weaker than average in the 12 months leading up to a presidential election. Since 1984, the average S & P 500 return on election years is only 4%, according to Goldman. When looking more broadly from 1932, the S & P 500 has averaged returns of 7% during an election year and 9% outside of election years. "Post-election returns have typically been stronger when the election resulted in a divided government than a unified government, especially in the case of a wave election," Kostin said.

Persons: Goldman Sachs, Goldman, Louis, David Kostin, Kostin, — CNBC's Michael Bloom Organizations: Louis Federal, Tech

☆ Top auto analyst Jonas lists 4 things Tesla could do to stop its slide
▼ + stars: | 2023-11-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Tesla shares won't stop falling unless the electric vehicle maker enacts some serious changes, according to Morgan Stanley. Tesla stock closed Tuesday below the $220 level, meaning it has lost about a quarter of its value since notching July intraday highs above $295. "Tesla investor sentiment is low, but that's not enough by itself to halt the negative momentum." TSLA YTD mountain Tesla stock this year But there are a few things Tesla can do to halt its tumble and reestablish itself as a leader, Jonas said. Executing model expansion on the Cybertruck and other models outside of the S, X, 3 and Y families could help investors' sentiment, he said.

Persons: Tesla, Morgan Stanley, Adam Jonas, Jonas, he's, — CNBC's Michael Bloom

☆ UBS says these software stocks can maximize AI, have 30% upside
▼ + stars: | 2023-11-07 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

The price target on three of those names implies upside of 30% or more. "Rate-fueled multiple compression offers investors opportunistic entry into high-quality, mission critical software businesses with TAMs [total addressable markets] growing low double-digits," analyst Kevin McVeigh wrote. Cloud-based software provider Intapp could also have more than 30% upside despite rallying 43% year to date, according to McVeigh. "We see a well-positioned, predictable model, coupled with constructive fundamentals positioned for core consistent 4-7% organic revenue growth," the analyst wrote. McVeigh also included Thomson Reuters on his list of buy-rated names, although he only sees 18% upside for the stock.

Persons: Kevin McVeigh, McVeigh, — CNBC's Michael Bloom Organizations: UBS, Clearwater Analytics, C Technologies, Thomson Reuters, Nvidia

☆ Goldman double upgrades this under-the-radar cloud stock with nearly 40% upside
▼ + stars: | 2023-11-07 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Cloud computing platform DigitalOcean is at an attractive entry point, according to Goldman Sachs. Analyst Gabriela Borges upgraded DigitalOcean to buy from sell and maintained her price target of $33, which implies the stock could jump 38.4% over the next 12 months. Borges cited the stock's significant underperformance — DigitalOcean is up nearly 6% this year, while the Nasdaq Composite has gained 30% — as an opportunity for investors. The underperformance has likely been driven by a cyclical normalization in cloud optimization spending, according to Borges. Borges noted overhang from DigitalOcean's ongoing search for a new CEO since late August.

Persons: Goldman Sachs, Gabriela Borges, DigitalOcean, Borges, DigitalOcean's, — CNBC's Michael Bloom Organizations: Nasdaq

☆ Analysts say these growth stocks are set to jump even further — giving them over 30% upside
▼ + stars: | 2023-11-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Higher-for-longer interest rates are especially bad for growth stocks. For those keen on getting back into the growth corner of the market, CNBC Pro screened for stocks in the iShares Russell 1000 Growth ETF that have further upside. Despite its huge gains this year, it was given more upside by analysts — potentially 45.5% based on the average price target, according to FactSet. Other stocks that made the list include cloud companies Okta and Snowflake , with over 30% potential upside each. Fintech-related stocks such as PayPal and Block also showed up, as did many health-care and pharmaceutical stocks.

Persons: Stocks, Russell, It's, — CNBC's Michael Bloom Organizations: Nasdaq, U.S . Federal Reserve, Citi, CNBC Pro, Nvidia, PayPal Locations: Snowflake

☆ Goldman says this biotech could become a global cell therapy leader, has nearly 40% upside
▼ + stars: | 2023-11-06 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Legend Biotech has a best-in-class product and could become a global leader in the cell and gene therapy space, according to Goldman Sachs. "We believe Legend has the potential to grow into a leading global cell therapy company," Chen said in a note to clients. Its leading therapy in the space is Carvykti, which he described as "best-in-class." In partnership with Johnson & Johnson , Carvykti is undergoing capacity expansion in the U.S. and European Union to meet demand. Legend stock rose 0.3% in Monday's session.

Persons: Goldman Sachs, Ziyi Chen, Chen, Johnson, Carvykti, — CNBC's Michael Bloom Organizations: Biotech, Johnson, Union Locations: U.S

☆ Evercore ISI says S&P 500 may 'overshoot' year-end target
▼ + stars: | 2023-11-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The S & P 500 has successfully weathered several key tests and should be in line for a year-end rally, according to Evercore ISI. "The implications set the S & P 500 on course to our year-end 4,450 PT, with a potential for overshoot to YTD highs," Emanuel continued. If the S & P 500 hits that mark, it means that the stock index will rise another 2% by the end of the year. The S & P 500 has fallen for three straight months and is down 5% since its year-to-date high near 4,600 in late July. .SPX YTD mountain The S & P 500 is down about 5% from its year to date high.

Persons: Julian Emanuel, Emanuel, — CNBC's Michael Bloom Organizations: ISI, Treasury, Survey

☆ Warren Buffett keeps selling BYD. Why some analysts still say it’s a buy
▼ + stars: | 2023-11-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

That's up nearly 50% from where BYD shares closed Friday. In its latest offloading of BYD, Berkshire had sold its shares for an average of 245.86 Hong Kong dollars, according to a filing with the Hong Kong stock exchange . Top brand in China BYD is the top brand that consumers in China consider when buying an electric car, Bernstein analysts said in a Nov. 1 report. First-time car buyers and current owners of traditional Chinese, Korean and U.S. brands are more drawn to buy a BYD car next, the Bernstein analysis found. Jefferies on Oct. 31 raised its price target on BYD to 331 Hong Kong dollars, while reiterating a buy rating.

Persons: Warren, Berkshire Hathaway, BYD, Paul Gong, Gong, Buffett, Wang Chuanfu, Tesla, Bernstein, Jefferies, Charlie Munger, Munger, Elon, — CNBC's Michael Bloom, Alex Crippen Organizations: UBS Global Research, UBS, Hong, CNBC, Tesla Locations: China, Hong Kong, BYD , Berkshire, Berkshire, U.S, Southeast Asia, Europe, Buffett's

☆ These are Mizuho's top stock picks heading into November
▼ + stars: | 2023-11-05 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Mizuho's equity research team compiled its top buy-rated picks for the new month. The average price target for the stock, which is already up about 14% this year, implies an upside of about 15%. But the average analyst is bullish with a buy rating and price target implying an upside of almost 21%, per LSEG. The average Wall Street analyst rates EyePoint a buy, and the consensus price target implies the stock could skyrocket nearly 290%, per LSEG. The average analyst has a buy rating and price target reflecting 13.5% upside ahead, per LSEG.

Persons: Nitin Kumar, Mara Goldstein, Graig Suvannavejh, Siti Panigrahi, INTU, Panigrahi, — CNBC's Michael Bloom Organizations: Mizuho, Dow Jones, Nasdaq, Coterra Energy, Merck, Co, EyePoint Pharmaceuticals, Intuit, Small Locations: Keytruda

☆ Earnings playbook: How to trade the biggest reports this week, including Disney
▼ + stars: | 2023-11-05 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Horton is set to report earnings before the bell, followed by a conference call at 8:30 a.m. Wednesday Biogen is set to report earnings in the premarket. Disney is set to report earnings after the close, with a conference call scheduled for 4:30 p.m. MGM Resorts is set to report earnings after the closing bell, with a call slated for 5 p.m. What history shows: MGM only exceeds earnings estimates 53% of the time, Bespoke data shows.

Persons: Horton, FactSet's John Butters, Butters, D.R, DHI, BIIB, WBD, Max, Bank of America Jessica Reif Ehrlich, Goldman Sachs, Brett Feldman, Bill Hornbuckle, — CNBC's Michael Bloom Organizations: Disney, MGM Resorts, CNBC, LSEG, Federal Reserve, Investment, Warner Bros, Warner Bros Discovery, Warner, Bank of America, MGM Locations: Macao

☆ Stocks paying high dividends that are safe and ones that are not, according to Bank of America
▼ + stars: | 2023-11-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Dividend stocks can be a good way to earn income amid market volatility, but not all dividends are necessarily safe. Here are some of those stocks that offer a strong balance sheet and high, but safe, dividends, according to Bank of America. In October, KeyCorp reported third-quarter earnings per share of 29 cents, slightly above the 27 cents expected by analysts, per StreetAccount. Walgreens Boots Alliance , with an 8.8% dividend yield, is also highly leveraged, with a debt-to-equity ratio of 1.8, according to Bank of America. Adjusted earnings per share came in at 67 cents, versus the 69 cents expected from analysts polled by LSEG, formerly known as Refinitiv.

Persons: they're, Savita Subramanian, Rowe Price, StreetAccount, KeyCorp, — CNBC's Michael Bloom Organizations: Investors, Federal Reserve, Bank of America, Revenue, Walgreens Boots Alliance, LSEG Locations: Baltimore, Cleveland

☆ Goldman Sachs updates its 'directors’ cut’ list of top Europe stocks with major upside
▼ + stars: | 2023-11-03 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Chip stock addition One notable update to Goldman Sach's directors' cut list was the addition of ASML Holdings – a Netherlands-headquartered chip machine-maker that has Taiwan Semiconductor Manufacturing Company ( TSMC ) as its biggest customer. Stocks on the list British telecommunications player BT Group made the investment bank's updated directors' cut list – with an upside of around 149% from its Oct. 30 close, based on a 12-month price target of £280 ($340.68). Delivery Hero is another favorite stock, with a price target of 53.90 euros ($57.04), giving it an upside of approximately 128%. German real estate player Vonovia was another company that made the investment bank's list with 75% upside based on a 12-month price target of 36.70 euros. They are thus focused on identifying quality growth and select value stocks for their their conviction list of top buy-rated stocks.

Persons: Goldman Sachs, Goldman, ASML Holdings Goldman, Stocks, Vonovia, — CNBC's Michael Bloom Organizations: ASML Holdings, Taiwan Semiconductor Manufacturing Company, Euronext, Nasdaq, BT Group Locations: Europe, Netherlands, Euronext Amsterdam, ASML, bullish, British

☆ Bonds or stocks? Wall Street shares its preference — and how to invest
▼ + stars: | 2023-11-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

UBS Both stocks and bonds retreated in October in the wake of war in the Middle East and concerns about rates, UBS said. Wells Fargo Investment Institute In an Oct. 30 note, Wells Fargo said it expects a recession and the average stock will likely continue to struggle. How to invest UBS favors the higher-quality segments of fixed income, preferring high-grade government and investment-grade bonds. Overall, Wells Fargo said, it's most favorable on U.S. long-term taxable fixed income, and its short-term counterpart, and favorable on U.S. taxable investment-grade fixed income. It's least favorable on U.S. intermediate-term taxable fixed income and high yield taxable fixed income.

Persons: Stocks, Jerome Powell, it's, inching, Scott Wren, Wells Fargo, Wells Fargo's Wren, Schroders Bond, Schroders, Neil Sutherland, Sutherland, — CNBC's Michael Bloom Organizations: U.S, U.S . Federal, Treasury, Wells, Wells Fargo Investment Institute, UBS Locations: U.S ., Wells Fargo, U.S

☆ Stifel says the S&P 500 will keep climbing 'wall of worry' to hit 4,400, gives 10 stocks to play rally
▼ + stars: | 2023-11-02 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The S & P 500 can rise to 4,400 by the end of the year as near-term recession talk proves unfruitful, according to Stifel. "We see no imminent U.S. recession as the S & P 500 climbs the proverbial Wall of Worry," Bannister wrote to clients in a note. .SPX YTD mountain The S & P 500 this year The average market strategist expects the S & P 500 to finish 2023 at 4,358, according to a CNBC Pro survey. That's because there's too much fear in the market, with the S & P 500 at one point moving into correction territory. Avoiding a recessionary-level slowdown for the ISM PMI would imply upside for the S & P 500 over the next six months, he said.

Persons: Barry Bannister, Bannister, outperformance, —, Michael Bloom Organizations: CNBC, ISM, PMI, Federal Reserve Locations: Wednesday's

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