Check out today's top analyst calls from around Wall Street, compiled by The Fly.
UBER UPGRADED TO BUY: DA Davidson analyst Tom White upgraded Uber (UBER) to Buy from Neutral with a price target of $39, up from $23.50. The company is well-positioned to leverage its multi-product platform to emerge post-pandemic in a significantly stronger competitive position, the analyst tells investors in a research note. White also cites Uber's recent cost actions and market exits reducing some of its annualized fixed costs by about $1B, ensuring future EBITDA profitability.
Barclays analyst Ross Sandler sees further upside in shares of Uber Technologies following last night's Q1 results. The analyst keeps an Overweight rating on the name with a $36 price target. Some of the good news is starting to be reflected in shares given the recent move higher, but at just 3.6 times estimated 2021 revenue, and with a "reasonably clear path towards EBITDA profitability, there is further upside for shares, Sandler tells investors in a post-earnings research note.
Goldman Sachs analyst Heath Terry raised the firm's price target on Uber Technologies to $45 from $41, saying he continues to believe the risk/reward in owning the leader in mobility as the sector matures is favorable. He thinks Uber can exit the COVID-19 crisis and expected recession in a stronger position relative to their "VC-reliant competitors with less diverse platforms and less stable balance sheets."
JPMORGAN DOWNGRADES MOTOROLA SOLUTIONS AFTER Q1 RESULTS: JPMorgan analyst Paul Coster downgraded Motorola Solutions (MSI) to Underweight from Neutral with a price target of $130, down from $168. Following the company's Q1 results, the analyst cut estimates and downgraded the shares valuation and in anticipation of some rotation out of the stock. The company's "relative safe-haven status" is likely to get reevaluated in the context of weak near-term guidance, Coster tells investors in a research note. Commercial sales could be lost in hard-hit market verticals like travel and hospitality, but the near-term debate will center on whether Motorola's LMR project activity is delayed by the COVID-19 disruption or whether fiscal constraints will lead to a lasting reallocation of first-responder budgets to other priorities, says the analyst.
SQUARE CUT TO NEUTRAL AT GUGGENHEIM: Guggenheim analyst Jeff Cantwell downgraded Square (SQ) to Neutral from Buy as he now sees a balanced risk/reward with the shares trading above his prior $65 price target following yesterday's post-Q1 jump. Square shares have significantly outperformed year-to-date with a 19% advance and have nearly doubled since touching a low on March 20, noted Cantwell. His revenue and EPS estimates are now below the Street for 2021 on concerns about Seller's growth, particularly for brick-and-mortar restaurants and retailers, the analyst said.
H.C. WAINWRIGHT INITIATES PRECIGEN: H.C. Wainwright analyst Swayampakula Ramakanth initiated coverage of Precigen (PGEN) with a Buy rating and $5 price target. The company is developing platforms for next-generation gene and cell therapies for the treatment of oncologic and autoimmune disorders, Ramakanth tells investors in a research note. The analyst believes the long-term potential of Precigen's technologies has been overlooked and that the shares are undervalued.
FIRST SOLAR RARE IN SECTOR WITH NO MAJOR ESTIMATE CUTS: While not the cleanest quarter, First Solar (FSLR) posted "solid" Q1 results on key headline metrics, Goldman Sachs analyst Brian Lee tells investors in a research note. Further, the company has seen no material impacts from COVID-19 on its business and financial results, with manufacturing cost reductions largely tracking to plan and new bookings also coming in at "fairly robust" levels given the current environment, says the analyst. Lee believes First Solar withdrew its 2020 guidance out of an "abundance of caution." Estimates are largely unchanged, making First Solar a rare solar company that is not seeing a significant estimate cut coming out of Q1 earnings, adds the analyst. He continues to see the company's risk/reward as being one of the more attractive in the solar space. Lee keeps a Conviction Buy rating on the shares with a $65 price target.
First Solar
-0.29 (-0.65%)
Pigeon
+ (+0.00%)
Block
-1.89 (-2.53%)
Media Sciences
+ (+0.00%)
Uber
+1.985 (+6.43%)