CNBC Pro: Analyst Calls and Wall Street Chatter—Live Updates
Keep refreshing every 20-30 minutes for the newest insights. On Wednesday, an AI-focused company and an aluminum products maker garnered significant attention. Barclays downgraded Super Micro Computer from overweight to equal weight, while Morgan Stanley upgraded Ball Corp., predicting a potential upside of over 20%. Below are the latest updates, all times ET:
5:45 a.m.: Jefferies Tags GE Vernova as Clean Energy Top Pick
Jefferies initiated coverage on GE Vernova, a sustainable energy company, with a buy rating, setting a $261 price target—implying a 36% upside. Analyst Julien Dumoulin-Smith highlighted Vernova’s conservative guidance and potential earnings boost, making it his top pick due to its non-renewable gas business. He expects EBITDA to triple from 2024 to 2028. The company could also start modest dividends and share buybacks.
5:41 a.m.: Barclays Downgrades Super Micro Computer
Barclays downgraded Super Micro Computer due to rising competition and weak AI server margins. Analyst George Wang cut the target price to $438 from $693, expressing caution due to the company’s lack of transparency and ongoing internal control reviews. Despite a 55% year-to-date rise, Super Micro has lost market share and faces further pressure on margins.
5:41 a.m.: Morgan Stanley Upgrades Ball Corp.
Analyst Stefan Diaz from Morgan Stanley upgraded Ball Corp. to overweight from equal weight with a new price target of $78, suggesting a 22% upside. Despite a year-to-date increase of over 11%, Ball Corp. still offers a compelling buying opportunity, according to Diaz, who believes investors are overly concerned with North American volume performance and underestimating the company’s medium-term earnings growth potential.
Stay tuned for more updates.
Original Story https://www.cnbc.com/2024/09/04/analyst-calls-all-the-market-moving-wall-street-chatter-from-wednesday.html
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