Breaking News: Investing
Wells Fargo downgrades Gap, says it cannot recommend buying the apparel retailer after CEO exit
Wells Faro no longer advises investors continue buying shares of Gap following news that the apparel retailer’s most recent chief executive will step down. Analyst Ike Boruchow downgraded shares of Gap to equal weight from buy and slashed his price target, saying in a Monday note that investors should start looking elsewhere for companies with […]
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UBS cuts S&P 500 price target for 2022, says earnings estimates could go down even more
UBS cut its price target for the S & P 500 and expects earnings estimates could decline further from here — the latest possible indicator of an impending slowdown. The investment bank cited prolonged higher inflation and rising yields as the reason for cutting the price target and EPS forecast for the broader market index. […]
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Occidental Petroleum looks overbought after its rally this year, Goldman Sachs says
It may be time to take some profits in Occidental Petroleum after the stock’s massive rally this year, according to Goldman Sachs. Analyst Neil Mehta downgraded shares of Occidental Petroleum to neutral from buy, saying in a Monday note that its stock jump seems exuberant, especially when compared with peers. Energy names have broadly benefited […]
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Shares of Mattel could see more than 30% upside on TV and movie releases, Goldman Sachs says
A slate of recent and upcoming TV and film content releases including Minions and Barbie will buoy shares of Mattel, according to Goldman Sachs. Analyst Michael Ng upgraded Mattel to buy from neutral, saying in a Sunday note that the toymaker has a number of promising developments in its pipeline. “Against the backdrop of increasing […]
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Bank of America upgrades Honeywell to buy, citing potential growth in aerospace and oil and gas
Bank of America said investors should consider shares of Honeywell , which has an attractive mix of end markets that will benefit from broader manufacturing trends. Analyst Andrew Obin upgraded shares of Honeywell to buy from neutral, and maintained its price target, saying in a Monday note that he approves of the company’s execution and […]
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It’s time to sell Meta until it figures out the metaverse, Needham says in downgrade
Investors should sell shares of Meta until the social media company figures out the metaverse, according to Needham. Analyst Laura Martin downgraded shares of Meta Platforms to underperform from hold, noting that the company’s heavy investments in the metaverse — just as it expects slower revenue growth — may take too long to pay off. […]
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Bank of America shares are a compelling buy even in a recession, Societe Generale says in upgrade
Investors should consider buying Bank of America even as recession risks linger, according to Societe Generale. Analyst Andrew Lim upgraded Bank of America to buy from hold, saying in a Monday note that the “quality bank” is looking cheap after falling 36% off its recent highs. “Bank of America (BoA) is the highest quality US […]
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Gold forms ominous ‘death cross’ pattern as it takes strong dollar hit
Gold has generated a “death cross” pattern, which signals a grim outlook for the commodity as it gets hit by a strong dollar, according to one strategist. A death cross forms when a security’s 50-day moving average falls below its 200-day moving average. This is a chart pattern that technical analysts and strategists interpret as […]
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Citi upgrades Deere to buy, says machinery stock is ‘attractive’ even in a downturn
Shares of Deere are a buy even as growing recession concerns hit machinery stocks, according to Citi. The firm cut estimates and reduced price targets across the board for the group to reflect a broader slowdown. But shares of Deere were upgraded to buy from neutral, with Citi analyst Timothy Thein saying in a Thursday […]
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RBC downgrades Boston Beer, cuts price target on waning popularity of Truly hard seltzer
Boston Beer has “too much to overcome” for now as the popularity of hard seltzer fizzles out, and as it fails to innovate on new products, according to RBC Capital Markets. Analyst Nik Modi downgraded shares of Boston Beer to sector perform from outperform, saying in a Thursday note that weak sales of its hard […]
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