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Citi analyst Andrew Kaplowitz upgraded his rating for the heating and ventilation company to buy from neutral. The analyst accompanied the move by upping his price target to $74 from $65, implying that shares of Carrier Global could rally 17% going forward. The financial institution raised its price target for Nvidia to $150 from $135. Analyst Erin Wright stood by her overweight rating on the health insurance stock, reiterating her $595 price target. Wright set a price target of $374, which is 23% higher than the insurance company's Friday closing price of $355.48.
Persons: Goldman Sachs, Andrew Kaplowitz, CARR, Kaplowitz, — Lisa Kailai Han, Jefferies, Blayne Curtis, kingmaker, Curtis, Lisa Kailai Han, Morgan Stanley, UnitedHealth, Morgan Stanley's, Erin Wright, Wright, Bernstein, Stephen Reitman, Ferrari, Reitman, Ferrari's, Sanjeet Aujla, Aujla, BUD, Christopher Danely, Danely, James Schneider, Schneider, Fred Imbert Organizations: CNBC, Monday, Citi, Micron Technology, IBM, Carrier Global, Carrier, Nvidia, Humana, Ferrari, UBS, Anheuser, Busch InBev It's, Busch InBev, Micron, Citi Citi, Dow Jones Industrial, Dow Locations: China, UnitedHealth, U.S, Friday's
The growing electricity demand from corporate America, particularly Big Tech, and the retirement of coal plants across the U.S. are creating a major opportunity for renewable energy, according to UBS. UBS sees solar and wind supplying 40% and 30% of the power demand, respectively, while natural gas will meet the remaining 30%. At the same time, "there is a straight line of direct incremental demand and financial support for renewables as corporate electricity demand increases through their 100% clean energy or 100% renewable commitments," the analysts said. Overall, solar will grow to 12.5% of electricity generation by 2030, up from less than 6% in 2023, according to UBS estimates. "There is likely a substantial market opportunity to provide reliable electricity generation and direct infrastructure for data centers," the analysts said.
Persons: Jon Windham Organizations: Big Tech, UBS, U.S, Microsoft, Google, Amazon, Companies, Nike, Pepsi, Starbucks, Meta, Energy, Technologies Locations: America, U.S
A collection of stocks with strong earnings potential and discounted valuations may be a good way for investors to find value in the market. CVX YTD mountain Chevron stock. FDX YTD mountain FedEx stock. Altria Group is the most discounted stock on the list, with the stock's trailing 12-month P/E representing a 116% haircut compared with its five-year average. MO YTD mountain Altria Group stock.
Persons: Peer, haven't, Mike Wirth, Thomas Wadewitz Organizations: Nvidia, Broadcom, Qualcomm, CNBC Pro, CNBC, Stock, ., Chevron, Exxon Mobil, FedEx, UBS, U.S . Postal Service, Altria, U.S . Food, Drug Administration, Conagra Brands, Marathon Petroleum Locations: U.S
The launch of Jain Global has dominated industry gossip since its founder left Millennium Management, where the 53-year-old Jain was Izzy Englander's right-hand man, in late 2022. And more specifically, scalability without incremental cost," Jonathan Barton, the firm's chief operating officer, said in an interview with BI. Starting from a clean sheet of paper gave Jain Global certain advantages, said one senior banker who worked closely with the new manager as it built out its teams and systems. 3Forge, a specialty-software provider, worked with Jain Global to build the interface that connects all the systems for PMs, the risk team, and management. In five to 10 years, Jain Global hopes it won't need a sprawling business-development function because a strong talent pipeline will have developed inside the firm.
Persons: , Bobby Jain's, Jain, Izzy Englander's, It's, Morgan Stanley, Griffin's, Steve Cohen's Point72, Michael Gelband's, redemptions, Jonathan Barton, Barton, — Barton, it's, Bobby, Paul Enright, Sam Kellie, Smith, David Hochberg, Enright, Hochberg, there's, Jon Caplis, Caplis, they're Organizations: Service, Jain Global, Millennium Management, Business, UBS, Citadel, Bank of America, Meru Capital Group, Jain, Credit Suisse, Viking Global, Macquarie, Investors, Bloomberg Locations: Singapore, Balyasny, New York, Houston, London, Hong Kong, York, Lane, Meru, Asia, PivotalPath
The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to election years in which the incumbent president is running for reelection, the average jumps to 12.2%. Yes, but: Market volatility in an election year tends to pick up in October and there are many months left in this cycle with potential surprises to come. “An autumn pullback fits well time wise with potential downside earnings revisions, make-or-break decision time for the Fed, and election uncertainty. The first round of the French election will be held on June 30, with a second round on July 7.
Persons: Goldman Sachs —, Ed Clissold, Ned Davis, they’re, It’s, Goldman Sachs ’ Scott Rubner, , , Mark Hackett, Scott Chronert, Goldman Sachs, Joe Biden, Donald Trump, Jim Reid, There’s, Emmanuel Macron, Katie Nixon, Chris Isidore ., they’ve, Samantha Murphy Kelly, ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, Organizations: London CNN — Traders, Investors, White, Ned, Ned Davis Research, Nasdaq, Citigroup, Goldman, Barclays, Deutsche Bank, UBS, Deutsche, Fed, United, Labour Party, Renaissance, Northern Trust Wealth Management, Alaska Airlines, Alaska —, Southwest —, Southwest, Railway Labor, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC Locations: United States, France, , Alaska, China
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThere are two major similarities between today's stock market environment and the dot-com bubble era, says RIA Advisors CIO Lance Roberts. RIA Advisors/AccentureAnd two, there is a small group of firms leading the overall stock market rally, just as it was in 2000. He's a bit more optimistic this time around because of the robust earnings performance fueling the few stocks leading the market. Advertisement"We are again experiencing another of these speculative 'booms,' as anything related to artificial intelligence grips investors' imaginations," Roberts said.
Persons: , Lance Roberts, Roberts, Jonathan Golub Organizations: Service, RIA, Business, Accenture, Nvidia, UBS, Investors, Federal Reserve
Big Tech companies are pouring billions of dollars into building data centers to train it. The AI Value ChainAccording to UBS, investors should approach the overall AI industry as three interconnected layers: enabling, intelligence, and application. By understanding the major players in the AI space and investing in the most critical parts of the AI value chain, according to UBS. The bank predicts that the AI landscape will be marked by "vertically integrated" and "monolithic" firms with the scale to reach across the AI value chain. However, its stock hasn't seen the price appreciation that domestic tech companies have, suggesting that there's ample room for valuations to expand.
Persons: Ulrike Hoffmann, UBS's Organizations: Service, Apple, Big Tech, UBS, Business, Nvidia, Dell, Broadcom Locations: China
Here's why Costco has the best customer loyalty
  + stars: | 2024-06-21 | 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 EmailHere's why Costco has the best customer loyaltyMichael Lasser, UBS analyst, joins Money Movers to discuss which retail company has the best customer loyalty, which companies need to improve, and much more.
Persons: Michael Lasser Organizations: Costco, UBS, Movers
Experts say Shein's U.S. IPO is all but dead
  + stars: | 2024-06-21 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com   time to read: +2 min
The Shein logo can be seen on a smartphone, while the Chinese online retailer's website is open on a laptop. China-founded e-commerce company Shein's hopes of going public in the United States are growing slimmer by the day, according to experts, as rising tensions between Beijing and the U.S. roil business and trade. A London IPO could, in theory, be easier than a U.S. offering, according to Bochanis. If Shein's London IPO succeeds, it is unlikely to keep pursuing a U.S. offering, said University of Florida finance professor Jay Ritter, who studies IPOs. It became one of the first prominent Chinese companies to do so in the U.S. even as the Biden administration has increasingly cracked down on Chinese-made electric vehicles.
Persons: Shein's, confidentially, Angelo Bochanis, Bochanis, Jay Ritter, Zeekr, Biden Organizations: U.S, National Retail Federation, CNBC, TJX Companies, UBS, Target, Walmart, Renaissance, Securities and Exchange Commission, London Stock, University of Florida Locations: China, United States, Beijing, U.S, London
Diversification is key right now: UBS Global Wealth Management
  + stars: | 2024-06-21 | 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 EmailDiversification is key right now: UBS Global Wealth ManagementJin Yee Young, co-head of UBS Global Wealth Management APAC explains the shift into developed markets fixed income and the growth of private markets investment in Asia.
Persons: UBS Global Wealth Management Jin Yee Young, UBS Global Wealth Management APAC Organizations: UBS Global Wealth Management Locations: Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS GWM CIO breaks down the potential impact of the U.S. presidential electionMark Haefele of UBS Global Wealth Management says a second Trump presidency will benefit some bank and commodity stocks, but be "less good" for consumer staples and renewables stocks.
Persons: Mark Haefele, Trump Organizations: UBS, U.S, UBS Global Wealth Management
There's a lot to like about private credit right now, according to UBS. "We still have defaults very low on the private credit side, lower than what we're seeing on public. "With private credit, you don't know how things might change going forward," she explained. While there are some good players in private credit, there are others who are not, he said. Investing in BDCs Another way to get exposure to private credit is by investing in the public stocks of the business development companies, or BDCs, that are doing the private lending.
Persons: Leslie Falconio, Falconio, Jamie Dimon, Dimon Organizations: UBS, Blackstone Private Credit Fund, Franklin BSP Private Credit Fund, SEC Locations: UBS Americas, Franklin, BDCs
Enterprise software customers are seeing their profits shrink from high interest rates and weakening consumer spending, which is reflected in cost-cutting initiatives such as shrinking software budgets. The best software stocks to buy in today's environmentAccording to UBS, the current software industry offers investment opportunities for cybersecurity and cloud infrastructure stocks. Cybersecurity is a promising growth area, with potential for rapidly increasing demand, UBS said. Demand for cloud infrastructure — the combination of hardware and software needed for cloud computing — is also increasing. Microsoft (MSFT) and Oracle (ORCL) are two cloud infrastructure providers whose respective products, Azure and Oracle Cloud Infrastructure, have performed well in 2024, in contrast to the lackluster returns of other software companies.
Persons: , Salesforce, hasn't, Marc Benioff Organizations: Service, Business, UBS, Enterprise, Microsoft, Oracle, Oracle Cloud Infrastructure
Switzerland's financial regulator ruled on Wednesday that the UBS takeover of Credit Suisse did not create any competition concerns, despite recommendations from the country's antitrust watchdog that it merited further scrutiny. "The merger of UBS and Credit Suisse will not eliminate effective competition in any market segment," Swiss financial regulator FINMA said in a statement. UBS said it will continue to implement its integration of Credit Suisse after FINMA's report. It also narrowed the financing options for the country's high-cost, export-orientated companies, especially with Credit Suisse seen as the bank which supported entrepreneurs. "When I look at the discussion after Credit Suisse's rescue by UBS, I see more fear than courage," he said in Lucerne.
Persons: FINMA, Sergio Ermotti Organizations: UBS, Credit Suisse Locations: Switzerland, Swiss, Lucerne
In 2023, Texas led the nation in solar installations on its power grid, surpassing California for its second consecutive year. Explosive power demand poses a challenge to the Biden administration's goal of converting the U.S. power grid to 100% clean electricity by 2035. Nextracker is a leading U.S. solar firm, building systems that allow panels to track to the position of the sun, improving the efficiency of solar power plants. Shugar pointed to the massive number of renewable projects in the U.S. seeking connection to the power grid. But as energy demand increases, the value of each additional hour should rise, eventually making longer duration batteries more cost effective, he said.
Persons: Brandon Bell, Andrés Gluski, Joseph Rand, We've, Kelley, Wells, Goldman Sachs, Biden, Ryan Sweezey, Wood Mackenzie, Richard Kinder, Kinder Morgan, Kinder, Amin Nasser, Nasser, Shugar, Lawrence, Lazard, Nextracker's Shugar, Lawrence Berkeley, Amol Phadke, Rand, Sweezey, Reid Ramdathsingh, Ramdathsingh, Fluence, John Zahurancik, Zahurancik, it's, Zahuranick Organizations: Getty, Renewables, Energy Information Administration, Department of Energy, Big Tech, Microsoft, AES Corporation, Google, AES, Meta, UBS, Solar, Lawrence Berkeley National Laboratory, U.S, Tech, North America, DOE, CNBC, University of California Berkeley's Goldman School of Public, Goldman School, Lawrence, Rystad Energy, Siemens Locations: Ector County , Texas, Texas, California, United States, U.S, Wells Fargo, Saudi, Houston, Lawrence Berkeley, Fluence's Americas
The second half of the year is around the corner, and some stocks are primed to outperform, according to a screen of Wall Street analysts' favorite picks. The following names have 20% or more upside to their analyst price targets and are already in the green for 2024 — indicating their price targets are elevated not just due to a drop in share price. To note, the price targets are 12-month estimates. Out of the four analysts covering the stock, three rate it a buy or a strong buy. Around three-quarters of analysts covering the stock have a strong buy or buy rating.
Persons: Goldman Sachs, Warren Buffet's Berkshire Hathaway, Guggenheim, Hess Organizations: Street, Nvidia, ISI, Citi, CNBC Pro, CNBC, Argus, Disney, Coterra, UBS, Chevron, Exxon Mobil Locations: Warren, Chevron, Guyana
UBS: More upside ahead for Lennar
  + stars: | 2024-06-18 | 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 EmailUBS: More upside ahead for LennarJohn Lovallo, homebuilder analyst at UBS, joins CNBC's 'The Exchange' to discuss homebuilding company Lennar, cost pressures in the sector, and more.
Persons: Lennar John Lovallo Organizations: UBS
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Up next: There's not a whole lot expected to happen on Wall Street over the next 24 hours. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Eaton —, There's, we'll, we're, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Apple, Microsoft, Broadcom, Energy, Boeing, UBS, Accenture, Kroger, Olive Garden, Darden, Jim Cramer's Charitable Locations: Wells, Dover, U.S
NextEra Energy stock fell nearly 5% in early trading Tuesday after announcing a plan to sell $2 billion in equity units to finance power projects as electricity demand rises and to pay back debt. The Florida-based power company, which operates the largest portfolio of renewable energy in the U.S., will issue equity units for $50, which will serve as a contract to purchase shares no later than June 1, 2027. The utility sector has gained about 8.5% over the past three months, outpacing the 6.2% gain by the S&P 500. But the utility space has cooled off over the past month, with NextEra falling 5% over that period. About 71% of Wall Street analysts rate NextEra as the equivalent of buy, while 24% have put a hold on the stock and 4.8% have recommended that investors sell.
Persons: NextEra, Goldman Sachs, Goldman, Carly Davenport Organizations: Energy, Energy Capital Holdings, UBS, Wall Street Locations: Florida, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the housing market will remain muted this year given the effect of higher mortgage ratesUBS homebuilders analyst John Lovallo and Brown Harris Stevens CEO Bess Freedman discuss the major issues impacting the housing market and housing stocks: The Fed, mortgage rates and available inventory.
Persons: John Lovallo, Brown Harris Stevens, Bess Freedman Organizations: UBS
Morgan Stanley lowered its price target on Nike. Meanwhile, UBS upgraded Best Buy to buy from neutral. — Brian Evans 6:45 a.m.: UBS upgrades Newmont UBS thinks rising gold prices into 2025 can help lift Newmont Corporation moving forward. — Brian Evans 6 a.m.: UBS upgrades Best Buy, forecasts outperformance ahead UBS thinks a potential forthcoming appliance upgrade cycle as well as new product offerings could lift Best Buy stock. The bank reiterated its overweight rating on shares but trimmed its price target to $114 from $116.
Persons: Morgan Stanley, Goldman Sachs, Toll, Susan Maklari, — Brian Evans, Daniel Major, Major, Michael Lasser, Lasser, BBY, Alex Straton, Fred Imbert Organizations: CNBC, Nike, UBS, Newmont, Dow Jones
Check out the companies making headlines before the bell: Toll Brothers — The homebuilder gained 1.3% after Goldman Sachs upgraded it to neutral from sell. Best Buy — Shares rose more than 3% following a UBS upgrade to buy from neutral. Autodesk — The software company added 4% on news that activist fund Starboard Value has taken a $500 million stake in the company. Shattuck Labs — The biotechnology stock slipped 1% following a BTIG downgrade to neutral from buy. Goldman Sachs downgraded shares to sell from neutral, citing macroeconomic and competitive pressures.
Persons: Goldman Sachs, Goldman, BTIG, , Alex Harring, Sarah Min, Scott Schnipper Organizations: UBS, Autodesk, AMC Networks, Labs, Louisiana - Pacific Corporation, Broadcom Locations: Louisiana
Coming on Tuesday, Microsoft plans to start selling new AI-enabled laptops at Best Buy, with roughly 40% of Copilot+ PCs exclusive to the retailer. We think that high-end offerings like these will give Best Buy a much-needed boost in sales and later for its stock price, too. In Monday's note to clients, the analysts also said that Best Buy can get a "volume benefit from lowering prices on previous models of the same product." That's a key reason why we first initiated our position in Best Buy earlier this year. People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.
Persons: I'm, it's, Jeff Marks, Marks, we've, Jim Cramer's, Jim Cramer, Jim, Andrew Kelly Organizations: UBS, CNBC, Club, Microsoft, Federal, 1Q Locations: Friday's, Manhattan , New York City
For the week: The tech-heavy Nasdaq gained 3.2%, while the S & P 500 rose 1.6% and the Dow fell 0.5%. The analysts raised their price target to $106 per share from $85. There were several price target bumps on Micron ahead of earnings next week on June 26. Nike price target was lowered to $114 per share from $116 at Morgan Stanley. Citigroup price target was increased to $66 per share from $63 by RBC Capital.
Persons: Wedbush's Ives, Toll, Goldman Sachs, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Dow, Fed, Citi, UBS, Microsoft PT, Microsoft, Apple, Union Pacific, Loop, Autodesk, Wall Street, Micron, Bank of America, PT, Nike, Citigroup, RBC Capital, Jim Cramer's Charitable, CNBC, Dow Nasdaq, Microsoft Apple, Union Pacific Activist Investor, Micron Nike Citigroup
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Constellation rebounds: There's a strong move happening in Constellation Brands for reasons that are not entirely clear. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Eli Lilly, donanemab, CNBC's Sara Eisen, Michael Dell, Jim Cramer's, Jim Organizations: CNBC, Markets, Nasdaq, Nvidia, Apple, Broadcom, Club, Honeywell, Energy, Drug Administration, Constellation Brands, Jefferies, Modelo, Corona, Dell Technologies, UBS, Jim Cramer's Charitable Locations: U.S
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