Wednesday’s Analyst Calls: Nvidia and Stellantis in Focus
Wednesday’s analyst updates saw significant attention on a tech powerhouse and an established automaker. Morgan Stanley highlighted Nvidia as a top pick, viewing the current stock dip as a prime opportunity for investors. Analyst Joseph Moore reiterated an overweight rating with a $144 price target, suggesting that concerns driving the sell-off are overblown. Moore remains optimistic about Nvidia’s prospects, pointing to robust short- and long-term data and underscoring the ongoing AI capital expenditure boom. Despite a 16% drop this month, Nvidia shares have more than doubled this year.
Meanwhile, Nomura upgraded Stellantis to a buy rating, noting the automaker’s proactive approach to addressing challenges in its North American division. Analyst Anindya Das emphasized Stellantis’ efforts to tackle high inventory and outdated models as promising signs. While Das lowered the price target to 21 euros from 24 euros, he believes Stellantis’ initiatives in Europe and management’s resolve bode well for the stock. Despite a 28% decline in U.S.-listed shares this year, Stellantis’ strategic moves could drive future growth.
Stay updated with the latest analyst insights and market chatter.
(Note: This summary is based on CNBC Pro’s live coverage of Wednesday’s analyst calls. Refresh every 20-30 minutes for the latest updates. All times are in Eastern Time.)
Original Story https://www.cnbc.com/2024/07/31/analyst-calls-all-the-market-moving-wall-street-chatter-from-wednesday.html
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