Notes
Stock Gainers Brief:
• $CVS: +3%; added four new board members, including Larry Robbins from Glenview Capital, expanding to 16 members; upgraded by Wells Fargo.
• $FOUR: +4%; to join S&P MidCap 400 in place of RCM on November 20.
• $HOOD: +6%; upgraded to Buy by Needham due to expected benefits from Trump's policy changes at SEC.
• $LBRT: +2%; stock up with Chris Wright, a fracking advocate, nominated for Energy Secretary.
• $MBI: +10%; upgraded to Outperform by KBW with a new $9 target after favorable legal and earnings news.
• $SMCI: +9%; plans to meet Nasdaq compliance requirements for continued listing.
• $TSLA: +8%; due to Trump team's interest in autonomous vehicle regulations.
• $WOLF: +5%; CEO Gregg Lowe ousted, Thomas Werner steps in as Executive Chairman during CEO search.
Stock Laggards Brief:
• $BIIB: -1%; downgraded to Hold by Needham, with no expected upside in the next year.
• $CMAX: -55%; filed for bankruptcy with $693M in debt, $390M in assets.
• $LLY: -4%; continues to decline with other obesity/healthcare stocks.
• $MARA: -6%; issuing $700M in convertible notes.
• $NGNE: -35%; halted development of high-dose gene therapy due to serious side effect.
• $PLTR: -9%; despite being a top S&P performer YTD, sees significant drop.
• $UBER & $LYFT: -6%; both affected by news of potential regulations for autonomous vehicles.
#Upgrades - Nov 18, 2024
• $AMLX: Baird Upgrades to Outperform from Neutral - PT $11 (from $3)
• $APD: UBS Upgrades to Buy from Neutral - PT $375 (from $338)
• $AUTL: Goldman Sachs Upgrades to Buy from Neutral - PT $7.60 (from $7)
• $BFAM: BMO Capital Upgrades to Outperform from Market Perform - PT $125 (from $137)
• $CBRL: Argus Upgrades to Buy from Hold - PT $52
• $CVS: Wells Fargo Upgrades to Overweight from Equal Weight - PT $66 (from $60)
• $FUTU: Morgan Stanley Upgrades to Overweight from Equalweight - PT $115 (from $70)
• $HOOD: Needham Upgrades to Buy from Hold - PT $40
• $HPE: Raymond James Upgrades to Strong Buy from Outperform - PT $29 (from $23)
• $MBI: KBW Upgrades to Outperform from Market Perform - PT $9 (from $6.50)
• $MPWR: Loop Capital Upgrades to Buy from Hold - PT $660
• $MRNA: HSBC Upgrades to Buy from Hold - PT $58
• $PRMB: Deutsche Bank Upgrades to Buy from Hold - PT $33 (from $20)
• $ROKU: Baird Upgrades to Outperform from Neutral - PT $90 (from $70)
• $UFCS: Piper Sandler Upgrades to Neutral from Underweight - PT $26 (from $19)