This is CNBC Pro’s live update on Wednesday’s analyst calls and Wall Street buzz. Refresh every 20-30 minutes for the latest insights.
Key highlights:
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Electric Vehicles and Tech Stocks in Focus: Analysts discussed several prominent stocks, including an electric vehicle maker and an enterprise tech company.
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Piper Sandler on Tesla: Piper Sandler raised its price target on Tesla to $310, citing higher-than-expected vehicle sales driven by strong performance in China and U.S. demand for the Cybertruck. The new target suggests a 22% upside. Despite this, Tesla shares were down over 1% in premarket trading Wednesday, remaining up just 2% year-to-date.
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Barclays on Hewlett Packard Enterprise: Barclays upgraded Hewlett Packard Enterprise (HPE) to overweight, increasing its price target to $24 from $20. This move reflects optimism about rising demand for AI servers and positive impacts from the Juniper Networks acquisition. HPE stock has risen 11.2% in 2024, though it lags behind broader tech sector gains.
- JPMorgan on Petrobras: JPMorgan upgraded Petrobras to overweight from neutral, raising the price target on U.S.-traded shares to $19 from $16.50, indicating a 28% potential rally. The firm highlighted Petrobras’ cost-efficiency and potential for high dividends despite a cautious outlook on the oil market. Petrobras shares saw a 1.2% premarket bump but are down 7% year-to-date.
— Hakyung Kim and Fred Imbert
Stay tuned for continuous updates on the latest market movements and analyst opinions.
Original Story https://www.cnbc.com/2024/09/25/analyst-calls-all-the-market-moving-wall-street-chatter-from-wednesday.html
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