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The Latest Breaking News from BofA

BofA Coins New FANG Equivalent For Semiconductor Stocks, 'MANGO'

BofA analyst Vivek Arya's recent discussions with investors about the U.S. Semiconductors sector have "overwhelmingly" been focused more on cycle worries such as peaking demand and rising Capex than company fundamentals.

Benzinga

Why This Arcos Dorados Analyst Is Turning Bullish After Q4 Earnings

Arcos Dorados Holdings Inc (NYSE: ARCO) reported stronger-than-expected sales and achieved an impressive gross margin recovery in its fourth-quarter report, with “better operating leverage on leaner cost structures,” according to BofA Securities.

Benzinga

BofA Sees 8% Upside In APi Group - Read Why

BofA analyst Andrew Obin initiated coverage on APi Group Corp (NYSE:APG) with a Neutral rating and a price target of $23 (an upside of 7.5%). The analyst notes a balanced risk/reward for APi Group at current share levels. Also read: APi Group Plans $250M Buyback Program. APi Group is a business services provider of safety and…

Benzinga

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Pete Najarian Prefers These Bank Stocks, Buys Calls

The Financial Select Sector SPDR Fund (ARCA: XLF) was featured as the call of the day Tuesday on CNBC's "Fast Money Halftime Report."

Benzinga

BofA: 3 Upgrades, 3 Downgrades On New Set Of Global Challenges

Corporates are facing new challenges, including the Russia-Ukraine war, COVID outbreaks in China, rising energy prices, interest rate hikes, and new supply chain disruptions, some of which could materialize into new headwinds, according to BofA Securities. The Chemicals Analyst: Steve Byrne upgraded three stocks and downgraded three others.

Benzinga

Ahead Of Moderna's Midstage mRNA Flu Vaccine Readout, Analyst Says Drugmaker Likely To Be First To Market

After COVID-19 vaccine-induced strength, Moderna, Inc. (NASDAQ: MRNA) is on the lookout for the next big catalyst to boost its rangebound stock.

Benzinga

BofA Bumps Up BWX Technologies Price Target By 18%

BWX Technologies Inc (NYSE:BWXT) price target has been raised to $65 (an upside of 25%) from $55 by BofA analyst Ronald Epstein, who expects BWXT to continue benefiting from increased defense spending and a greater emphasis on naval operations. The analyst maintained his Buy rating on BWX Technologies shares. Epstein boosted the price target, citing…

Benzinga

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Apple iPhones Led Smartphone Sales As 5G Handsets Formed Over 50% Of Sales

Apple Inc’s (NASDAQ:AAPL) iPhones led the mobile industry to a landmark in January, as handsets with 5G cellular networking accounted for 51% of smartphone sales for the first time, Bloomberg reports. Recently, Apple launched a 5G model in its budget-friendly iPhone SE series, at half its average flagship device priced at $429. Chinese brands Xiaomi…

Benzinga

GitLab Shares Pop As Analysts See Sharp Upside Post Q4

Analysts painted sharp upside to GitLab Inc (NASDAQ:GTLB) post strong Q4 results that included a notable top-line beat and FY23 guidance ahead of Street expectations. Truist analyst Joel Fishbein lowered the PT to $105 from $175 (217.2% upside) and kept a Buy, citing the change in discount rate assumptions since the IPO. KeyBanc analyst Michael Turits lowered…

Benzinga

BoFA Survey Shows Investors' Growth Outlook Weakest Since 2008: Reuters

Citing a monthly fund manager survey by BofA, Reuters reported that investors have more concerns regarding the global growth outlook since the financial crisis in 2008, an

Benzinga

China's Lockdown Of Tech Hubs To Hamper Amazon, Walmart's Online Delivery: Report

China's recent lockdown looks to hamper the online order delivery of global e-commerce firms like Amazon.com Inc (NASDAQ:AMZN) and Walmart Inc (NYSE:WMT), Bloomberg reports. China had to initiate lockdowns and restrictions in its crucial manufacturing hubs like Shenzhen and Dongguan following a Covid-19 resurgence. Related Content: China Restricts Activities In Shenzhen, Shanghai Following Covid-19 Resurgence The…

Benzinga

BofA Cuts Price Target On This Social Media Giant By 12%

BofA analyst Justin Post lowered Meta Platforms Inc's (NASDAQ:FB) price target to $290, down from $330, but reiterated a Buy. The price target implies an upside of 54%. Post noted that Russia's invasion of Ukraine would have a "modest impact" on advertising sales of the Facebook parent. Also Read: Deutsche Bank Still Finds Big Tech…

Benzinga

KeyBanc Remains Upbeat On Apple Citing iPhone SE 3; BofA, Piper Sandler See Limited Impact From China Lockdown

KeyBanc's Key First Look Data suggested that Apple Inc (NASDAQ: AAPL) tracked slightly better than historical seasonality. The indexed spending was down (9)% month-on-month in February, beating the 3-year average decline of (13)%.

Benzinga

BofA Turns Bullish On XPO Logistics, Chart Industries

BofA upgraded four industrial sector companies.

Benzinga

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Benzinga

Analysts Slash Their PTs On Oracle As They Did Not Buy Its Growth Story

Analysts slashed their price targets on Oracle Corp (NYSE:ORCL) post Q3 results. Piper Sandler analyst Brent Bracelin downgraded to Underweight from Neutral with a PT of $70 (8.7% downside), down from $100. Bracelin found it challenging to reach double-digit organic growth next year, sustaining a cloud shift considering more than 70% of revenue came from the…

Investors Business Daily

Missed Amazon's Split? These Stocks Are Next For The Easy Money

Looking for an easy way to make money fast? It's hard to argue with S&P 500 stock splits. But the question is who's next to do it?

Benzinga

BofA Is Bullish On Disney While MoffettNathanson Is A Tad Defensive - Read Why

Two analysts have different stances on The Walt Disney Co (NYSE: DIS).

Benzinga

BofA Downgrades This Media Conglomerate - Read Why

BofA analyst Jason Haas downgraded Qurate Retail Inc (NASDAQ:QRTEA) to Neutral from Buy with a price target of $6.30, down from $11.50, implying a 6.6% upside. The analyst noted Qurate's Q4 pre-announcement was "disappointing", and while he thought this was driven by supply chain issues, the final earnings report suggested that competitive issues and poor…

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Benzinga

Credo Shares Pop As Multiple Analysts Initiate Coverage And See Sharp Upside

Multiple analysts initiated coverage on Credo Technology Group Holding Ltd (NASDAQ:CRDO) with a positive stance. Goldman Sachs analyst Toshiya Hari initiated coverage on Credo with a Buy rating and price target of $23 (51.3% upside). Stifel analyst Tore Svanberg initiated coverage on Credo with a Buy rating and price target of $20 (31.6% upside). BofA analyst Vivek…

Benzinga

BofA Downgrades Core & Main On What Near-Term Headwinds?

Core & Main Inc (NYSE: CNM) is likely to be impacted by a minimal increase in spending in 2022 with delays in project starts, according to BofA Securities.

Benzinga

BofA Adds Disney To US-1 List: Why This Investor Says The Stock Is Headed To $200

The Walt Disney Co (NYSE: DIS) was featured as the call of the day Monday on CNBC's "Fast Money Halftime Report." What Happened: BofA added Disney to its US-1 list with a Buy rating and a $191 price target.

Benzinga

Here's Why BofA Calls Roblox 'Category Leader' In The Emerging Metaverse Media Category

BofA analyst Omar Dessouky reinstated coverage of Roblox Corp (NYSE:RBLX) with a Buy rating and $84 price target, calling the company the "category leader" in the emerging "Metaverse" media category. The price target implies an upside of 20.8%. Roblox has no "old media" businesses to cannibalize and invests 100% of its resources exclusively towards leadership…

Benzinga

PreMarket Prep Stock Of The Day: Bank Of America

While the S&P 500 index futures were retreating off Tuesday’s open, one sector was going in the opposite direction: banking. One issue that has revisited its multiyear highs is Bank of America Corp (NYSE: BAC), the PreMarket Prep Stock of the Day.

Benzinga

Why Are Mantech International Shares Soaring Today?

BofA analyst Mariana Perez Mora double upgraded Mantech International Corp (NASDAQ:MANT) to Buy from Underperform and raised the price target to $90, from $75. The company's co-founder George Pedersen is exploring options for his controlling stake, which includes a sale of the U.S. defense contractor, with a market value of more than $3 billion, reported Reuters. The…

Benzinga

Analysts Cut Pinterest Price Target Post Q4 Results

Analysts mainly slashed their price targets on Pinterest Inc (NYSE:PINS) post Q4 results. BofA analyst Justin Post lowered the price target on Pinterest to $46 from $57 (87.7% upside) and kept a Neutral rating on the shares. While the company reported better than expected revenue and adjusted EBITDA, users are "still under pressure," said Post, who…

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