The Latest Breaking News from Citi

Citi analyst Christian Wetherbee is "constructive" on GXO Logistics Inc's (NYSE:GXO) purchase of Clipper Logistics in a deal valued at $1.3 billion, split between cash and stock. Wetherbee maintained a Buy rating on the shares with a price target of $110. The analyst likes the "high-growth nature" of Clipper's business, saying it is underpinned by…

Citi analyst Andrew Gardiner downgraded Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) to Neutral from Buy, calling the company "uninvestable." The re-rating followed the report of alleged "tens of millions of dollars in suspicious payments" by the telecom company to ISIS over nearly a decade to keep its business in Iraq. Related Content:…

Analysts maintained their faith in Block Inc (NYSE:SQ) post Q4 results. Citi analyst Peter Christiansen says Block's Q4 results were better than expectations, topping Citi's gross profit estimates by 8% and Street estimates by 2%.  The company held off from issuing a formal fiscal 2022 outlook. However, it is now planning an investor day…

Analysts remained optimistic on Alibaba Group Holding Ltd (NYSE:BABA) post Q3 results. JPMorgan analyst Alex Yao noted that Alibaba reported fiscal Q3 results broadly in-line with Bloomberg consensus and his estimates. Yao has an Overweight rating and a $180 price target (65.2% upside) on Alibaba. He believes a weak December quarter result was "largely expected by…

Citi analyst Christopher Danely reiterated the Buy rating and $120 price target on Micron Technology Inc (NASDAQ:MU). The price target implies an upside of 39%. Danely noted that dynamic random access memory pricing could be higher in the second half of the year. Danely added that PC demand remains "solid," though some data center customers…

Analysts revised their price targets on Zoom Video Communications Inc (NASDAQ:ZM) ahead of its quarterly results. UBS analyst Karl Keirstead lowered the price target on Zoom to $130 from $250 (8% upside) and kept a Neutral rating on the shares ahead of its quarterly results.  Despite the 35% year-to-date decline in the stock, the analyst recommends…

Analysts raised their price targets on Palo Alto Networks Inc (NASDAQ:PANW) following Q2 results. JPMorgan analyst Sterling Auty upgraded Palo to Neutral from Underweight with a PT of $620, up from $600 (30.4% upside).  Palo Alto is one of the cybersecurity companies well-positioned to compete for the cloud security opportunity, Auty said. The analyst says the…

Analysts updated the price target for Generac Holdings Inc. (NYSE:GNRC) post Q4 results. Canaccord analyst Jed Dorsheimer lowered the price target to $556 from $575 and maintained a Buy rating on the shares. The analyst believes margin pressures from the supply chain, logistics, and inflation will peak in 1Q22 and subsequently succumb to the power…

Citi analyst Jason Bazinet lowered the firm's price target on The Walt Disney Co (NYSE:DIS) to $200 from $210 and reiterated a Buy rating on the shares. The price target implies an upside of 30%. Related Content: Here's Why Barron's Is Bullish On Disney Post Q1 The company posted strong fiscal Q1 results driven by better than expected…

Analysts had mixed views on Intel Corp (NASDAQ:INTC) after yesterday's reports about Intel nearing a deal to acquire Tower Semiconductor Ltd (NASDAQ:TSEM) for $6 billion.  Northland analyst Gus Richard said such a deal would "make a lot of sense" and be a good one for Intel shareholders based on his estimate that it would cost $13…

Citibank forecasts global GDP growth to decelerate to 3.8% this year as the world economy enters a slowdown amid growing inflation and imminent interest rate hikes, though it remains optimistic about the growth of cyclical industries with long-term growth.