‘Biggest bear’ on Target upgrades the stock, says shares to rally nearly 50%

Wall Street’s self-proclaimed biggest bear on Target upgraded the stock Monday, saying he sees a buying opportunity from its recent weakness, which was fueled by concerns about Amazon competition. Barclays’ Matthew McClintock upgraded Target to overweight from equal weight and raised his 12-month price projection to $115 a share from $85. Target shares are down more than 5% in the last week. The analyst had upgraded target to equal weight in January. Target shares jumped 2% Monday in premarket t


Wall Street’s self-proclaimed biggest bear on Target upgraded the stock Monday, saying he sees a buying opportunity from its recent weakness, which was fueled by concerns about Amazon competition. Barclays’ Matthew McClintock upgraded Target to overweight from equal weight and raised his 12-month price projection to $115 a share from $85. Target shares are down more than 5% in the last week. The analyst had upgraded target to equal weight in January. Target shares jumped 2% Monday in premarket t
‘Biggest bear’ on Target upgrades the stock, says shares to rally nearly 50% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: john melloy
Keywords: news, cnbc, companies, 50, rally, upgraded, biggest, retailers, stock, mcclintock, bear, nearly, share, weight, target, shares, recent, equal, upgrades


'Biggest bear' on Target upgrades the stock, says shares to rally nearly 50%

Wall Street’s self-proclaimed biggest bear on Target upgraded the stock Monday, saying he sees a buying opportunity from its recent weakness, which was fueled by concerns about Amazon competition.

Barclays’ Matthew McClintock upgraded Target to overweight from equal weight and raised his 12-month price projection to $115 a share from $85. The new target represents a 49% surge from Friday’s close of $77.12.

In a portion of the report entitled “Why the biggest bear on TGT finally upgraded the stock,” the analyst goes on to say that the recent decline in Target shares after Amazon’s said it was moving toward one-day shipping for Prime customers has gone too far. Target shares are down more than 5% in the last week.

“We have now decided with the pullback in the stock due to recent Amazon fears, our expected downside from this near-term view is meaningfully derisked,” he wrote. Target “is already ahead of AMZN in same day delivery … and has built a supply chain that fulfills e-commerce primarily from stores (where next-day delivery is much easier), which stands in contrast to most retailers.”

The analyst had upgraded target to equal weight in January. Before that, Barclays had a sell rating going back to at least mid-2016.

Bigger picture, McClintock believes there’s been a “narrative change” that means the stock deserves a higher valuation. He trumpets market share opportunities in apparel and home furnishings and says Target “is a leader in practically everything investors use to support other retailers that they like.”

“The company is well ahead of most retailers in: 1) employee pay; 2) store experience … 3) digital, and merchandising/private label,” he said.

Target shares jumped 2% Monday in premarket trading following the call.

— With reporting by Michael Bloom


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: john melloy
Keywords: news, cnbc, companies, 50, rally, upgraded, biggest, retailers, stock, mcclintock, bear, nearly, share, weight, target, shares, recent, equal, upgrades


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Tesla upgrades Model S and Model X cars, brings back cheaper variants

Tesla, struggling with delay in delivery of its higher-priced Model S and X luxury cars, said on Tuesday it will bring back lower-priced options for those cars and roll out upgrades to improve their driving range and re-charging speed. Tesla has since said it will keep higher-volume stores open, while announcing a 3 percent price increase on some models. With the upgrades, the long-range version of Model S and X can now travel 370 miles (595.5 km) and 325 miles, respectively, on the U.S. Environ


Tesla, struggling with delay in delivery of its higher-priced Model S and X luxury cars, said on Tuesday it will bring back lower-priced options for those cars and roll out upgrades to improve their driving range and re-charging speed. Tesla has since said it will keep higher-volume stores open, while announcing a 3 percent price increase on some models. With the upgrades, the long-range version of Model S and X can now travel 370 miles (595.5 km) and 325 miles, respectively, on the U.S. Environ
Tesla upgrades Model S and Model X cars, brings back cheaper variants Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: vivek prakash, afp, getty images
Keywords: news, cnbc, companies, upgrades, cheaper, brings, model, stores, variants, cars, respectively, range, vehicle, tesla


Tesla upgrades Model S and Model X cars, brings back cheaper variants

Tesla, struggling with delay in delivery of its higher-priced Model S and X luxury cars, said on Tuesday it will bring back lower-priced options for those cars and roll out upgrades to improve their driving range and re-charging speed.

The company, striving to improve margins and post a profit later this year, has laid off workers including about half of the team hired to deliver cars in the United States, and said it would close stores to lower costs.

Tesla has since said it will keep higher-volume stores open, while announcing a 3 percent price increase on some models.

The upgrades include a new drivetrain design and a new adaptive suspension system, increasing each vehicle’s driving range, the company said in a blog post ahead of its first-quarter results on Wednesday.

With the upgrades, the long-range version of Model S and X can now travel 370 miles (595.5 km) and 325 miles, respectively, on the U.S. Environmental Protection Agency cycle.

The lower-priced options, or the ‘standard range’ versions, of Model X and Model S were available for purchase on Tesla’s website after Tuesday’s announcement for $83,000 and $78,000, respectively. Estimated delivery of both cars was set for May.

Earlier in April, Tesla reported fewer-than-expected vehicle deliveries in the first quarter, with figures for the Model S sedans and Model X SUVs more-than-halving compared with the preceding quarter.

The Silicon Valley carmaker has faced a range of challenges over the past year as one of the leaders in electric vehicle technology sought to ramp up production, deliveries and sales of the Model 3 sedan seen as crucial to its long-term profitability.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: vivek prakash, afp, getty images
Keywords: news, cnbc, companies, upgrades, cheaper, brings, model, stores, variants, cars, respectively, range, vehicle, tesla


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Jaguar shows off high-tech upgrades to classic XE sports car at NY auto show

Walk into a Jaguar showroom these days and the first thing you’re likely to see is one of the three sport-utility vehicles that now dominate the brand’s sales. The updated 2020 XE is classic Jaguar. This is a midcycle refresh, so the basic proportions of the Jaguar XE haven’t changed, but the update still gives it a fresh look, ironically, drawing some of the new details from the F-Pace, the largest of Jaguar’s new SUVs. The revisions also help to improve the 2020 model’s aerodynamics. Around ba


Walk into a Jaguar showroom these days and the first thing you’re likely to see is one of the three sport-utility vehicles that now dominate the brand’s sales. The updated 2020 XE is classic Jaguar. This is a midcycle refresh, so the basic proportions of the Jaguar XE haven’t changed, but the update still gives it a fresh look, ironically, drawing some of the new details from the F-Pace, the largest of Jaguar’s new SUVs. The revisions also help to improve the 2020 model’s aerodynamics. Around ba
Jaguar shows off high-tech upgrades to classic XE sports car at NY auto show Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: paul a eisenstein, adam jeffery
Keywords: news, cnbc, companies, ny, classic, models, wider, bumper, xe, youre, car, 2020, jaguar, thing, shows, brands, hightech, upgrades, auto, york


Jaguar shows off high-tech upgrades to classic XE sports car at NY auto show

Walk into a Jaguar showroom these days and the first thing you’re likely to see is one of the three sport-utility vehicles that now dominate the brand’s sales.

Despite the popularity of the British brand’s E-, F- and I-Pace SUV models, Jaguar isn’t about to abandon its traditional market niche, as the launch of the new XE sport sedan at this year’s New York International Auto Show clearly demonstrates.

The updated 2020 XE is classic Jaguar. The only thing missing is the old “Leaper” hood ornament, the brand’s namesake cat now located on the middle of the sedan’s big grille.

This is a midcycle refresh, so the basic proportions of the Jaguar XE haven’t changed, but the update still gives it a fresh look, ironically, drawing some of the new details from the F-Pace, the largest of Jaguar’s new SUVs. The front end, in particular, looks lower, wider and more muscular with tweaks to the grille, bumper and headlights as well as new J-shaped running lights. The revisions also help to improve the 2020 model’s aerodynamics.

Around back, the 2020 Jaguar XE gets a new bumper and revised taillights, as well. All lighting, front and back, has now gone LED.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: paul a eisenstein, adam jeffery
Keywords: news, cnbc, companies, ny, classic, models, wider, bumper, xe, youre, car, 2020, jaguar, thing, shows, brands, hightech, upgrades, auto, york


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American billionaires call for upgrades to capitalism, starting with higher taxes on themselves

Among the remedies, could be higher taxes on the 1 percent, he said. Berkshire Hathaway CEO Warren Buffett — third on Forbe’s 2019 billionaires list — has repeatedly said the wealthy should be taxed more. After the 2017 Republican tax plan was signed into law, Buffett told CNBC “I don’t think I need a tax cut.” Gates, a close friend of Buffett and one spot above him on the Forbe’s list, has also called for higher taxes. Although the Microsoft founder saidhe’s paid more than $10 billion in taxes,


Among the remedies, could be higher taxes on the 1 percent, he said. Berkshire Hathaway CEO Warren Buffett — third on Forbe’s 2019 billionaires list — has repeatedly said the wealthy should be taxed more. After the 2017 Republican tax plan was signed into law, Buffett told CNBC “I don’t think I need a tax cut.” Gates, a close friend of Buffett and one spot above him on the Forbe’s list, has also called for higher taxes. Although the Microsoft founder saidhe’s paid more than $10 billion in taxes,
American billionaires call for upgrades to capitalism, starting with higher taxes on themselves Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: kate rooney, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, americans, starting, taxes, list, capitalism, ceo, buffett, american, told, higher, wealthy, billionaires, york, upgrades, tax


American billionaires call for upgrades to capitalism, starting with higher taxes on themselves

Jamie Dimon is also frustrated with the income gap. In a letter to shareholders last week, the J.P. Morgan Chase CEO outlined a list of problems plaguing the majority of Americans. Among the remedies, could be higher taxes on the 1 percent, he said.

“If that happens, the wealthy should remember that if we improve our society and our economy, then they, in effect, are among the main winners,” Dimon said.

Berkshire Hathaway CEO Warren Buffett — third on Forbe’s 2019 billionaires list — has repeatedly said the wealthy should be taxed more. In 2006, the CEO committed to give all of his Berkshire Hathaway stock to philanthropic foundations. He and Bill and Melinda Gates have asked hundreds of wealthy Americans to pledge at least 50 percent of their wealth to charity in the so-called “the Giving Pledge.” There are now 190 people signed on, including Facebook CEO Mark Zuckerberg and Netflix CEO Reed Hastings.

In a 2011 New York Times op-ed, titled “Stop Coddling the Super-Rich,” Buffett called for a tax increase on everyone making more than $1 million and an even bigger hike on Americans making more than $10 million or more. After the 2017 Republican tax plan was signed into law, Buffett told CNBC “I don’t think I need a tax cut.”

“The wealthy are definitely undertaxed relative to the general population,” he told CNBC’s Becky Quick during a February “Squawk Box” interview.

Gates, a close friend of Buffett and one spot above him on the Forbe’s list, has also called for higher taxes. Although the Microsoft founder saidhe’s paid more than $10 billion in taxes, “the government should require people in my position to pay significantly higher taxes.”

“There’s no doubt that as we raise taxes, we can have most of that additional money come from those who are better off,” Gates said during a conversation with his wife Melinda and hundreds of high school students in New York City in February.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: kate rooney, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, americans, starting, taxes, list, capitalism, ceo, buffett, american, told, higher, wealthy, billionaires, york, upgrades, tax


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AT&T shares rise after Raymond James upgrades, says stock cheap compared to Verizon

Telecommunications giant AT&T rose 0.7 percent in the premarket Friday after an analyst at Raymond James upgraded the stock, noting it trades at a more attractive valuation than rival Verizon. “The outlook for positive earnings growth combined with a strong de-levering story are likely to drive the shares to outperform,” Louthan wrote in a note to clients. “AT&T trades at a discount to Verizon of ~3.5x turns of EPS and FCF, with 250 bp higher dividend yield. We believe that the combination of po


Telecommunications giant AT&T rose 0.7 percent in the premarket Friday after an analyst at Raymond James upgraded the stock, noting it trades at a more attractive valuation than rival Verizon. “The outlook for positive earnings growth combined with a strong de-levering story are likely to drive the shares to outperform,” Louthan wrote in a note to clients. “AT&T trades at a discount to Verizon of ~3.5x turns of EPS and FCF, with 250 bp higher dividend yield. We believe that the combination of po
AT&T shares rise after Raymond James upgrades, says stock cheap compared to Verizon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: fred imbert, janhvi bhojwani
Keywords: news, cnbc, companies, trades, quarter, service, louthan, company, shares, raymond, verizon, rise, outperform, earnings, stock, compared, cheap, growth, james, upgrades, att


AT&T shares rise after Raymond James upgrades, says stock cheap compared to Verizon

Telecommunications giant AT&T rose 0.7 percent in the premarket Friday after an analyst at Raymond James upgraded the stock, noting it trades at a more attractive valuation than rival Verizon.

Analyst Frank Louthan raised his rating on AT&T to outperform from market perform. He also issued a price target of $34 per share, which represents a 12.3 percent upside over the next 12 months.

“The outlook for positive earnings growth combined with a strong de-levering story are likely to drive the shares to outperform,” Louthan wrote in a note to clients. “AT&T trades at a discount to Verizon of ~3.5x turns of EPS and FCF, with 250 bp higher dividend yield. We believe that the combination of positive earnings growth and delivering over the course of the year will being investors back to AT&T.”

AT&T shares slumped in the last 12 months, falling more than 18 percent in that time period. Verizon, meanwhile, is up about 20 percent.

AT&T was under pressure as it faced legal hurdles to close an $85.4 billion merger with Time Warner.

The company also dealt with slowing customer growth. In the fourth quarter, the company added a net 134,000 phone subscribers who pay a monthly bill, well below estimates. AT&T’s churn rate also rose to 1 percent last quarter from 0.89 percent in the year-earlier period.

AT&T’s streaming service, DirecTV Now, lost 267,000 subscribers in the fourth quarter, more than was expected. The company said the attrition rate was mostly due to people leaving the service after their discounted offers ran out.

Moving forward, profits from DirecTV Now should increase, Louthan said:

First, profitability of DIRECTVNOW should increase as costs are eliminated. Second, the product is now less attractive to a wider audience with limited content. While current users are able to keep the 105 channel package, it could be harder to attract new customers. We expect AT&T to offset this with a more complete lineup of channels from its delayed DTV OTT offering and its enhanced streaming service (likely bolted onto HBO GO), both expected later in 2019.

He also said AT&T could outperform the broader telecom sector this year, with his earnings per share estimate for 2019 implying a return of 18 percent from current levels.

“Where we could be wrong is if investors focus more on the subscriber metrics as they report over the course of the year (regardless of the EPS and FCF impact) and trade off that,” Louthan said.

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Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: fred imbert, janhvi bhojwani
Keywords: news, cnbc, companies, trades, quarter, service, louthan, company, shares, raymond, verizon, rise, outperform, earnings, stock, compared, cheap, growth, james, upgrades, att


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Snap shares surge 10% after longtime skeptic upgrades to buy

Shares of social media company Snap rallied more than 10 percent Thursday after one longtime skeptic upgraded the stock and told clients that it’s set for outperformance thanks to better advertising sales. BTIG analyst Richard Greenfield now recommends investors buy the beat-up equity and thinks that the media-sharing platform could see its shares soar 50 percent over the next 12 months. “Performance advertisers are laser focused on return on investment and spend (and spend more) where they see


Shares of social media company Snap rallied more than 10 percent Thursday after one longtime skeptic upgraded the stock and told clients that it’s set for outperformance thanks to better advertising sales. BTIG analyst Richard Greenfield now recommends investors buy the beat-up equity and thinks that the media-sharing platform could see its shares soar 50 percent over the next 12 months. “Performance advertisers are laser focused on return on investment and spend (and spend more) where they see
Snap shares surge 10% after longtime skeptic upgrades to buy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: thomas franck
Keywords: news, cnbc, companies, buy, upgrades, longtime, public, wrong, past, snap, greenfield, performance, shares, advertising, spend, surge, skeptic, snapchat


Snap shares surge 10% after longtime skeptic upgrades to buy

Shares of social media company Snap rallied more than 10 percent Thursday after one longtime skeptic upgraded the stock and told clients that it’s set for outperformance thanks to better advertising sales.

BTIG analyst Richard Greenfield now recommends investors buy the beat-up equity and thinks that the media-sharing platform could see its shares soar 50 percent over the next 12 months.

“Your initial reaction is likely why now and what changed, as virtually everything that could go wrong for Snapchat over the past couple years since going public has gone wrong,” Greenfield began. “Performance advertisers are laser focused on return on investment and spend (and spend more) where they see a compelling return.”

“We are increasingly confident that overseas direct response/performance advertisers are taking advantage of low relative bid prices on ad inventory in the U.S.,” he added.

Revived advertising spend would likely come as a welcome reprieve for Snap investors, who’ve seen their shares sink as much as 70 percent from their IPO price within the past year before rebounding to $10.05. Greenfield has never had a buy rating on the shares, which went public in March 2017 at $17.

“The good news for Snapchat is that performance advertising can scale rapidly enabling meaningful revenue beats,” Greenfield added. “It is critical for Snapchat to convince higher quality brands of the performance ROI that can be found on the platform.”

Disclosure: CNBC parent NBCUniversal is an investor in Snap .


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: thomas franck
Keywords: news, cnbc, companies, buy, upgrades, longtime, public, wrong, past, snap, greenfield, performance, shares, advertising, spend, surge, skeptic, snapchat


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Intel shares jump after Morgan Stanley upgrades the stock and predicts a big rally

Investors should buy Intel shares as they could get a boost from CEO Bob Swan’s leadership, a Morgan Stanley analyst said Friday. Analyst Joseph Moore upgraded Intel to overweight from equal weight and hiked his price target on the stock to $64 per share from $55. “We think that Intel can rerate higher around a more financially oriented CEO,” Moore said in a note to clients. Intel shares are up 9.55 percent this year through Thursday’s close but are lagging competitors like Nvidia and Advanced M


Investors should buy Intel shares as they could get a boost from CEO Bob Swan’s leadership, a Morgan Stanley analyst said Friday. Analyst Joseph Moore upgraded Intel to overweight from equal weight and hiked his price target on the stock to $64 per share from $55. “We think that Intel can rerate higher around a more financially oriented CEO,” Moore said in a note to clients. Intel shares are up 9.55 percent this year through Thursday’s close but are lagging competitors like Nvidia and Advanced M
Intel shares jump after Morgan Stanley upgrades the stock and predicts a big rally Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: fred imbert, samyukta lakshmi, bloomberg, getty images
Keywords: news, cnbc, companies, think, thursdays, predicts, ceo, rally, higher, upgrades, shares, target, stock, intels, jump, morgan, technology, moore, intel, stanley, big


Intel shares jump after Morgan Stanley upgrades the stock and predicts a big rally

Investors should buy Intel shares as they could get a boost from CEO Bob Swan’s leadership, a Morgan Stanley analyst said Friday.

Analyst Joseph Moore upgraded Intel to overweight from equal weight and hiked his price target on the stock to $64 per share from $55. Moore’s new price target represents 24 percent upside from Thursday’s close of $51.41 per share. Intel traded about 3 percent higher in the premarket Friday.

“We think that Intel can rerate higher around a more financially oriented CEO,” Moore said in a note to clients. “While some investors wanted someone with more of a technology background, we think that one of Intel’s biggest challenges in recent years has been its tendency to become enamored with technology over economics.”

Swan was Intel’s interim CEO for seven months after Brian Krzanich was ousted last year for having a “consensual relationship” with an employee. Prior to that, Swan had been Intel’s CFO since 2016.

Intel shares are up 9.55 percent this year through Thursday’s close but are lagging competitors like Nvidia and Advanced Micro Devices. Nvidia’s stock is up more than 16 percent in 2019 while AMD has surged nearly 30 percent.

“With a better portfolio optimization process, framing those technology issues around business risk/reward, a mindset of optimizing free cash flow more than earnings, and a higher standard of M&A accretion, we see the multiple expanding from 12x to 14x in our base case,” Moore said. “While we are cautious on semiconductors, and Intel is not immune, these idiosyncratic opportunities set them apart.”

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Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: fred imbert, samyukta lakshmi, bloomberg, getty images
Keywords: news, cnbc, companies, think, thursdays, predicts, ceo, rally, higher, upgrades, shares, target, stock, intels, jump, morgan, technology, moore, intel, stanley, big


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PG&E shares jump 12% after Citi upgrades, says the stock could double despite bankruptcy

Investors should buy shares of embattled utility PG&E as California lawmakers work to broker a deal with the state’s electric and gas providers, Citigroup told clients Tuesday. Citi upgraded the stock to a buy rating based on those deliberations, which could result in reduced wildfire liabilities for California utilities in the future, analyst Praful Mehta said. “We rate the stock a buy as we believe that it is pricing in larger dollar liabilities than what PG&E will likely need to bear.” While


Investors should buy shares of embattled utility PG&E as California lawmakers work to broker a deal with the state’s electric and gas providers, Citigroup told clients Tuesday. Citi upgraded the stock to a buy rating based on those deliberations, which could result in reduced wildfire liabilities for California utilities in the future, analyst Praful Mehta said. “We rate the stock a buy as we believe that it is pricing in larger dollar liabilities than what PG&E will likely need to bear.” While
PG&E shares jump 12% after Citi upgrades, says the stock could double despite bankruptcy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: thomas franck, carolyn cole, los angeles times, getty images
Keywords: news, cnbc, companies, state, wildfire, pge, mehta, double, price, 12, liability, utility, despite, bankruptcy, upgrades, investors, citi, jump, shares, states, stock


PG&E shares jump 12% after Citi upgrades, says the stock could double despite bankruptcy

Investors should buy shares of embattled utility PG&E as California lawmakers work to broker a deal with the state’s electric and gas providers, Citigroup told clients Tuesday.

Citi upgraded the stock to a buy rating based on those deliberations, which could result in reduced wildfire liabilities for California utilities in the future, analyst Praful Mehta said. Shares rallied as much as 10 percent by 10:38 a.m. ET. The bank’s $33 price target is more than double the stock’s closing price Friday.

“Public comments by the Governor and recent conversations with teams in Sacramento suggest that legislation to limit future wildfire risk could be passed in 60-90 days,” Mehta wrote. “We rate the stock a buy as we believe that it is pricing in larger dollar liabilities than what PG&E will likely need to bear.”

Gov. Gavin Newsom said last week the Golden State has given its team of bankruptcy attorneys and financial specialists 60 days to craft a plan to both keep the lights on and grant justice to those impacted by the historic wildfires. The most recent natural disaster — the fast-moving 2018 Camp Fire that killed at least 86 people and destroyed about 14,000 homes — was the state’s deadliest.

Though responsibility for the Camp Fire has yet to be determined, state investigators cleared the utility company of liability in the October 2017 Tubbs Fire, the largest wildfire that year. While a small victory for the company, that finding comes after state investigators determined that PG&E’s equipment was liable in at least 17 major wildfires in 2017.

Despite PG&E’s liability for any fires in 2017 or 2018, Citi believes California’s legislature may move to curb potential losses for its utility companies to help ensure consistent service to the state’s residents.

“With path to legislation limiting future wildfire liabilities getting clearer, current price offers a great entry opportunity with upcoming catalyst,” Mehta said.

California’s biggest utility filed for Chapter 11 bankruptcy protection last month, citing at least $30 billion or more in potential liability from fires in 2017 and 2018. While such financial troubles have sent PG&E shares down more than 60 percent over the past 12 months, some investors are buying the beat-up equity.

Longtime investors including such as Seth Klarman’s $30 billion hedge fund The Baupost Group and David Tepper’s $14 billion Appaloosa Management have build sizable and complex stakes in the California utility. While Klarman has spoken to multiple insurance companies about buying their claims against PG&E, Appaloosa actually increased its PCG holdings in the fourth quarter despite the sell-off.

Such investors may be betting on a lighter-than-expected penalty for PG&E or find the security cheap following the months of declining prices.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: thomas franck, carolyn cole, los angeles times, getty images
Keywords: news, cnbc, companies, state, wildfire, pge, mehta, double, price, 12, liability, utility, despite, bankruptcy, upgrades, investors, citi, jump, shares, states, stock


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European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12%

Europe’s telecom stocks led the gains on Monday, up around 0.7 percent amid a flurry of rating upgrades. Switzerland’s Sunrise was among the top performers after Berenberg upgraded the stock to “buy” from “hold.” Shares of the company rose more than 2 percent. Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark after financial watchdog BaFin issued a ban against establishing or increasing short positions in the company’s stock. Shares of the London-listed


Europe’s telecom stocks led the gains on Monday, up around 0.7 percent amid a flurry of rating upgrades. Switzerland’s Sunrise was among the top performers after Berenberg upgraded the stock to “buy” from “hold.” Shares of the company rose more than 2 percent. Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark after financial watchdog BaFin issued a ban against establishing or increasing short positions in the company’s stock. Shares of the London-listed
European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: sam meredith
Keywords: news, cnbc, companies, buy, uschina, stocks, stock, deal, wirecard, trade, company, million, value, jump, shares, mixed, watchdog, upgrades, hopes, markets, european


European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12%

Europe’s telecom stocks led the gains on Monday, up around 0.7 percent amid a flurry of rating upgrades. Switzerland’s Sunrise was among the top performers after Berenberg upgraded the stock to “buy” from “hold.” Shares of the company rose more than 2 percent.

Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark after financial watchdog BaFin issued a ban against establishing or increasing short positions in the company’s stock. Shares of the firm jumped 12 percent on the news.

Meanwhile, soft drink bottler Coca-Cola HBC tumbled toward the bottom of the index. It comes after the company announced on Monday it would buy Serbian biscuit and confectionery maker Bambi for an enterprise value of 260 million euros ($294 million). Shares of the London-listed stock were under pressure during mid-morning deals.


Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: sam meredith
Keywords: news, cnbc, companies, buy, uschina, stocks, stock, deal, wirecard, trade, company, million, value, jump, shares, mixed, watchdog, upgrades, hopes, markets, european


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Tesla shares jump after Canaccord Genuity upgrades the stock and predicts 40% rally from here

Canaccord upgraded Tesla to buy from hold and raised its 12-month price target to $450 from $330. “The EV penetration story is underappreciated by the Street,” wrote analyst Jed Dorsheimer in a note to clients Monday. Canaccord’s new 12-month price target represents a gain of 47 percent from here. The stock jumped 2 percent in premarket trading Monday amid the Canaccord call. The shares fell at the end of January after the company posted a fourth-quarter profit that fell short of Wall Street exp


Canaccord upgraded Tesla to buy from hold and raised its 12-month price target to $450 from $330. “The EV penetration story is underappreciated by the Street,” wrote analyst Jed Dorsheimer in a note to clients Monday. Canaccord’s new 12-month price target represents a gain of 47 percent from here. The stock jumped 2 percent in premarket trading Monday amid the Canaccord call. The shares fell at the end of January after the company posted a fourth-quarter profit that fell short of Wall Street exp
Tesla shares jump after Canaccord Genuity upgrades the stock and predicts 40% rally from here Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: john melloy, aly song
Keywords: news, cnbc, companies, rally, jump, target, street, canaccord, upgrades, genuity, cash, concerns, shares, predicts, price, company, view, 40, stock, tesla, upgraded


Tesla shares jump after Canaccord Genuity upgrades the stock and predicts 40% rally from here

Tesla shares got off to the week with a good start after Canaccord Genuity upgraded the stock and predicted a monster rally from here as electric vehicle penetration improves and the company gets closer to building a car that is affordable for the masses.

Canaccord upgraded Tesla to buy from hold and raised its 12-month price target to $450 from $330.

“The EV penetration story is underappreciated by the Street,” wrote analyst Jed Dorsheimer in a note to clients Monday. “We see a more stable 2019 with far fewer concerns for investors in the company.”

Tesla closed Friday at $305.80, down 8 percent for the year. Canaccord’s new 12-month price target represents a gain of 47 percent from here. The stock jumped 2 percent in premarket trading Monday amid the Canaccord call.

The shares fell at the end of January after the company posted a fourth-quarter profit that fell short of Wall Street expectations. The Elon Musk-led company said it would focus on reducing costs in 2019 and also said its cash position improved to $3.7 billion.

“We view the recent string of price cuts as further proof that the cost cutting and right sizing that the company has undertaken are resulting in concrete movement towards the ultimate goal of an affordable $35,000 Model 3,” added Dorsheimer. “With the strong operating cash flow generation of $1.23B and cash on the balance sheet of $3.7B, the liquidity concerns and convertible note repayment are no longer valid concerns in our view.”

— With reporting by Michael Bloom.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: john melloy, aly song
Keywords: news, cnbc, companies, rally, jump, target, street, canaccord, upgrades, genuity, cash, concerns, shares, predicts, price, company, view, 40, stock, tesla, upgraded


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