Analysts have recently downgraded Disney, while predicting a 20% surge for a semiconductor stock.
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This is CNBC Pro’s live coverage of Thursday’s analyst calls and Wall Street discussions. Refresh every 20-30 minutes for the latest updates.
On Thursday, analysts focused on a major media company and a semiconductor firm. Seaport Research downgraded Disney from buy to neutral, expressing concerns about its parks division. Conversely, Raymond James upgraded Lattice Semiconductor to outperform, suggesting a potential 20% increase in its stock price. Stay tuned for the latest analyst insights and market chatter. All times are in ET.
7:46 a.m.: JPMorgan remains optimistic about Dutch Bros despite a post-earnings drop
JPMorgan advises buying Dutch Bros stock, which fell over 22% in premarket trading after its second-quarter results. Analyst John Ivankoe reaffirmed the stock as a top pick among small- to mid-cap high-growth companies, maintaining an overweight rating and a $44 price target, indicating a 16.7% potential upside. The stock has risen about 19% this year. Despite lowering its store opening guidance, Dutch Bros is refining its real estate strategy to focus on higher new unit volumes, evident in its 2Q24 results. The company’s mobile order and pay system is expected to enhance operational efficiency and customer satisfaction. Ivankoe believes Dutch Bros will reach its goal of 4,000 stores by 2037. The company reported better-than-expected quarterly earnings and revenue, raising its full-year revenue guidance to $1.215 billion to $1.23 billion, close to analysts’ estimate of $1.228 billion.
7:30 a.m.: Bank of America upgrades Grupo Financiero Galicia
Bank of America is increasingly positive about Argentina’s Grupo Financiero Galicia, citing its diverse revenue streams and strong corporate governance. Analyst Ernesto Gabilondo highlighted the bank’s attractive retail franchise and sound return on average equity (ROAE) above 20% for 2024-2026. BofA upgraded the stock to buy from underperform and raised its price target to $36 per share from $28, predicting over 25% upside. Shares have surged more than 66% this year. Gabilondo noted a resurgence in loan growth among Argentine banks after years of reduced lending and increased investment in government securities.
7:04 a.m.: BMO upgrades Vornado Realty to outperform
BMO Capital Markets upgraded Vornado Realty to outperform from market perform, raising its price target to $40 per share from $29, implying over 33% upside. Analyst John Kim noted that Vornado’s fundamentals are improving, with high leasing volumes, attractive rents, and successful major redevelopments in PENN Plaza. The stock has gained more than 6% this year.
6:58 a.m.: Bank of America reiterates buy rating on Ralph Lauren
Despite a challenging macroeconomic environment, Bank of America believes Ralph Lauren can achieve its margin targets and continue growing. The firm reiterated a buy rating and increased its price target to $210 per share from $207, suggesting roughly 32% upside. The stock has risen 11% this year. Analyst Christopher Nardone expressed confidence in the brand’s global diversification and management’s cost control measures, expecting Ralph Lauren to hit a 15%+ currency-neutral margin target this year.
6:28 a.m.: KeyBanc upgrades Wolverine World Wide, forecasts 55% upside
KeyBanc sees a strong recovery potential for Wolverine World Wide, upgrading the footwear stock to overweight from sector weight with a $20 per share price target, implying more than 55% upside. Analyst Ashley Owens noted the company’s progress in rightsizing its business and early successes in new innovations, predicting growth into 2025 and beyond. The stock has advanced about 45% this year.
6:18 a.m.: Mizuho Securities downgrades Intel
Mizuho Securities downgraded Intel to neutral from outperform, lowering its price target to $22 per share from $36, implying roughly 16% upside. Analyst Vijay Rakesh cited execution challenges and a widening competitive gap, noting that Intel is losing market share in PCs and data centers, and facing morale and execution issues due to headcount reductions. The stock has plummeted more than 62% this year.
5:53 a.m.: Raymond James upgrades Lattice Semiconductor
Raymond James upgraded Lattice Semiconductor to outperform from market perform, with a $50 per share price target, suggesting 19.6% upside. Analyst Srini Pajjuri noted that the company is nearing the end of post-pandemic cyclical headwinds and stands to benefit from a cyclical recovery, content gains in servers, and new product launches. The stock has pulled back more than 39% this year.
5:53 a.m.: Seaport Research downgrades Disney
Seaport Research Partners downgraded Disney to neutral from buy, citing concerns about its parks business. Analyst David Joyce noted that while there are positive aspects, it may take a few quarters to see more encouraging consumer and profit trends. Disney shares fell 4% on Wednesday, overshadowing better-than-expected fiscal third-quarter results. The stock is down 4.8% year to date.