CNBC Pro’s Analyst Calls: Tuesday Highlights
In Tuesday’s analyst discussions, a legacy automaker and a tech titan took center stage. Goldman Sachs upgraded Ford Motor from hold to buy, citing a 23% potential upside with a revised price target of $13. Despite Ford’s 13% decline this year, analyst Mark Delaney highlighted the company’s burgeoning software and services sector as a growth catalyst.
Conversely, Citi downgraded HP Inc from buy to neutral. Analyst Asiya Merchant attributed the move to a tough industry landscape and mounting competition from Japan and China. Although HP stock has gained 19% in 2023, Merchant foresees limited near-term upside, maintaining a price target of $37.
Pivotal Research initiated coverage on Alphabet, Google’s parent company, with a buy rating and a price target of $215, reflecting a potential 30% upside. Despite recent antitrust concerns, analyst Jeffrey Wlodarczak praised Alphabet’s dominant search business and robust AI platform.
Meta Platforms also received a buy endorsement from Pivotal Research. Analyst Jeffrey Wlodarczak set a $780 price target, implying a 36% upside. He noted Meta’s leadership in AI and Instagram’s growing dominance as key drivers.
Atlassian saw an upgrade from Raymond James, elevating the stock to outperform with a $200 price target. Despite a 33% decline this year, analyst Adam Tindle foresees a reversal, supported by stronger cloud growth projections and upcoming organizational changes.
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Original Story https://www.cnbc.com/2024/10/01/analyst-calls-all-the-market-moving-wall-street-chatter-from-tuesday.html
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