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Wells Fargo upgraded Pulmonx shares to overweight from equal weight on Monday, noting that the company is gaining traction after a challenging period during the Covid pandemic. Analyst Larry Biegelsen raised his price target to $15 from $10, implying a 44.6% upside from Friday's closing price. He added, "We were also encouraged by the increase in utilization at existing accounts and the growth in new accounts in Q4," the analyst wrote. Pulmonx recently received approval for its Zephyr valves in Japan, which Biegelsen anticipated could amount to roughly another $1 billion for the company. Pulmonx shares gained 8% on Monday following the upgrade.
Shares of Tripadvisor are poised to rally as travel demand recovers and consumers book more experiences, Bank of America said. Analyst Nat Schindler double-upgraded the travel booking company to buy from underperform, citing strong growth within the company's experiences booking platform known as Viator. In the third quarter, the experiences platform accounted for 38% of Tripadvisor's total revenue, compared to 18% in 2019, Bank of America said. At the same time, he views Tripadvisor's core business as an offering that could support further experiences growth. "Core TRIP remains a cash cow that while not a significant grower over time can both fund and drive customers to high growth Viator," he said.
Morgan Stanley names Exxon Mobil a top 2023 pick Morgan Stanley said Exxon Mobil is one of the best-positioned stocks heading into 2023. Morgan Stanley reiterates Apple as overweight Morgan Stanley said concerns about App Store competition are overdone. Bank of America downgrades Best Buy to underperform from neutral Bank of America said the environment is too challenging right now for Best Buy. Bank of America reiterates Nike as neutral Bank of America said it's cautious going into Nike earnings next week. Bank of America reiterates Alphabet as buy Bank of America said it's sticking with its buy rating on Alphabet but that investors need to hear more about the Google parent's cost-cutting initiatives.
Carvana could stand to regain some of its lost share value despite current headwinds and bankruptcy fears, according to Citi. He set a price target of $5.50, which reflects a 11.1% upside over Monday's closing price. Josey said Carvana currently accounts for just over 1% of used car sales, but the company would be positioned to generate share gains in a typical used car market. But in the near-term, he said "the combination of higher interest rates, declining used vehicle prices (after rising significantly from 2020 – present), limited new vehicle supply, and a weaker economic backdrop have created a challenging operating environment." Going forward, Josey said he will be watching the used car retailer's relationship with Ally, which is its primary funding partner, and Adesa, a used car auction it acquired.
Goldman Sachs upgrades Pfizer to buy from neutral Goldman said that it's bullish Pfizer's upcoming pipeline. Citi downgrades Robinhood to neutral from buy Citi said that Robinhood's outlook is too murky right now. Goldman Sachs upgrades Humana to buy from neutral Goldman upgraded the healthcare company and says it sees "improved competitive positioning." Citi initiates Wayfair and Etsy as buy Citi said it sees an attractive risk/reward outlook for Wayfair and Etsy . Citi initiates Carvana as neutral Citi said the online used car company needs to focus on profitability.
Investors should utilize the sharp pullback in Yeti 's stock to buy into a company with "solid fundamentals" at a steep discount, according to Canaccord Genuity. Analyst Brian McNamara initiated coverage of the cooler and drinkware maker with a buy rating in a note to clients Wednesday, saying the stock is as "bear-proof as its coolers" and calling the company an "iconic global lifestyle brand with staying power." Shares of Yeti have underperformed since the start of the year, falling 48% compared with a roughly 18% drawback in the S & P 500 . The firm's $58 price target suggests shares could rebound about 35% from Wednesday's close. "Despite its first 'miss & cut' as a public company with Q2 results and a potential risk that an incoming CFO could lower the bar, we believe market expectations are overly conservative," McNamara wrote.
Starbucks says it plans on opening a new store every nine hours over the next three years. About 10 years ago, the average China consumer drank less than 3 cups of coffee a year, according to Starbucks. Another key reason behind Starbucks' aggressive China expansion plans is the expected return on investment in its stores. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A Starbucks store is seen inside the Tom Bradley terminal at LAX airport in Los Angeles, California.
Software stocks have taken a beating this year, but Goldman Sachs thinks there are some names in the space that can withstand a sharp economic downturn. As of Monday, it traded more than 40% below its 52-week high. Despite all of this, Goldman's Kash Rangan was able to identify some software stocks that can be resilient despite an economic "hard landing," or if the U.S. economy tumbles into a recession. The tech giant is down about 30% year to date and has fallen 32% since reaching a 52-week high last November. Goldman rates intuit as a buy and sees upside of roughly 51% from Friday's close.
Solar energy company Sunrun could see its share price double as it grows is residential business, according to Northland Capital Markets. Analyst Abhishek Sinha initiated Sunrun at a $60 price target, which would be a nearly 100% jump from its current price of $30.24. Sinha said the company stands to gain as the residential solar market grows 10% to 15% each year in 2022 and 2023 despite headwinds. "We believe this is just the very beginning of a secular bull market thesis as residential solar should become more widely prevalent greatly benefiting companies like RUN," Sinha said in a note to clients. Sinha cited data from Wood Mackenzie showing solar deployment should increase by 40% over the next few years, further bolstering the expectation of increasing demand .
Revance Therapeutics , a biotechnology company working on a Botox competitor set to soon launch in the U.S. is a solid bet, according to Goldman Sachs. Even if the U.S. falls into recession in the coming months, the company is poised to outperform, according to Goldman. U.S. and global growth Given these things, Goldman Sees Daxxify garnering 21% of the U.S. cosmetic neuromodulator market by 2025 and 35% by 2030. Even if the U.S. falls into recession in the coming months, the company is poised to outperform, according to Goldman. While pricing for Revance's Botox competitor has not yet been disclosed, Goldman estimates it will have a roughly 30% premium to competitors.
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