Apple Expected To Get A Boost From AI-Driven iPhone Upgrades

/ / Technology /

Apple is expected to get a boost to iPhone sales from the rise in artificial intelligence. Bank of America Securities analyst Wamsi Mohan says in a research note that a large share of the company’s current installed base uses older iPhone models, and those models will likely require upgrades in order to use AI enabled apps in coming years. Mohan raises his estimates for fiscal 2024, 2025 and 2026 iPhone sales off the back of this demand. He sees the company’s risk around legal issues as manageable and says “relative underperformance suggests many risks baked into expectations.” He upgrades shares to buy from neutral and lifts price target to $225 from $208. Shares rise 2.4% to $187.01.

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CFRA Reiterates Hold Opinion On Shares Of Truist Financial Corporation

/ / Financials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target price by $7 to $37, 9.4x our 2025 EPS estimate, below TFC’s five-year forward P/E average of 10.8x, given modest growth expectations. We raise our 2024 EPS estimate by $0.07 to $3.57 and start 2025’s at $3.92. TFC posted adjusted Q4 EPS of $0.81 vs. $1.30 a year ago, $0.09 below consensus. TFC made strides toward improved execution this quarter with a 4.5% adjusted expense contraction and an improvement in the bank’s efficiency ratio (-300 bps to 58.8%). Additionally, capital pressures eased as a decline in long-term rates improved the bank’s AOCI by 19%. Credit quality came in mixed as net charge-offs rose, while nonperforming assets fell. Given weak client demand and reductions in indirect auto and mortgages, TFC saw its consumer

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CFRA Maintains Buy Opinion On Shares Of Apple Inc.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: AAPL will start selling modified versions of the Apple Watch Series 9 and Ultra 2 that will remove the blood oxygen feature so that device sales can persist in the U.S. market. Although the removal of the sensor could make the device less attractive to some, it puts AAPL in compliance with a recent court ruling (pending appeal), alleviating a potential risk. Separately, AAPL’s biggest competitor, Samsung, officially announced its new popular Galaxy S24 line-up that looks to showcase greater on-device AI capabilities (e.g., real-time translation of calls/text messages, imperfect photo improvement, image and text search on the phone). We think this development could further motivate AAPL to unveil its own AI capabilities at its developer’s conference in June (both on-device and via iOS updates). Despite concerns

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Netflix’s Pricing, Paid Sharing Strategy to Drive Key Metrics Higher

/ / Consumer Discretionary /

Netflix’s upcoming results will likely come with 1Q guidance that is expected to point to continued topline acceleration, UBS analysts say in a research note. The streaming giant is forecast to keep leaning in on pricing this year after focusing on paid sharing in 2023, and even if this will drive moderating subscriber growth, it will improve average revenue per member, analysts say. UBS raises its target price to $560 from $500 on the prospects of paid sharing and a return to price increases. Shares rise 0.7% to $483.49.

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Boeing (NYSE:BA) Stock Analyst Ratings

/ / Industrials /

Boeing (NYSE:BA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 32.58% Susquehanna $306 → $279 Maintains Positive 01/16/2024 6.92% Wells Fargo $280 → $225 Downgrades Overweight → Equal-Weight 12/15/2023 49.69% UBS $275 → $315 Maintains Buy 12/12/2023 — William Blair Initiates Coverage On → Outperform 12/06/2023 11.67% Barclays $210 → $235 Maintains Equal-Weight 12/01/2023 25.93% Stifel → $265 Initiates Coverage On → Buy 11/28/2023 30.68% RBC Capital $200 → $275 Upgrades Sector Perform → Outperform 11/20/2023 28.3% Deutsche Bank → $270 Upgrades Hold → Buy 11/01/2023 — Goldman Sachs Maintains Buy 10/31/2023 3.12% Northcoast Research → $217 Upgrades Neutral → Buy 10/26/2023 -4.96% RBC Capital $210 → $200 Maintains Sector Perform 10/26/2023 28.78% Citigroup $285 → $271 Maintains Buy 10/26/2023 4.54% Morgan Stanley $235 → $220 Maintains Equal-Weight 10/11/2023 30.68% UBS → $275 Initiates Coverage On → Buy 10/03/2023 9.3% Wells

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Fidelity National Info (NYSE:FIS) Stock Analyst Ratings

/ / Industrials /

Fidelity National Info (NYSE:FIS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 24.98% Mizuho $62 → $73 Maintains Buy 11/08/2023 14.71% RBC Capital $71 → $67 Maintains Outperform 11/08/2023 -5.84% Truist Securities $50 → $55 Maintains Hold 11/08/2023 21.55% Raymond James $79 → $71 Maintains Strong Buy 10/20/2023 -0.7% UBS → $58 Assumes Neutral → Neutral 10/17/2023 11.28% Wolfe Research → $65 Upgrades Peer Perform → Outperform 10/12/2023 — Seaport Global Initiates Coverage On → Neutral 10/06/2023 -4.13% TD Cowen → $56 Initiates Coverage On → Market Perform 09/29/2023 -5.84% Evercore ISI Group $60 → $55 Maintains In-Line 09/25/2023 19.84% Mizuho → $70 Reiterates Buy → Buy 08/25/2023 2.72% Evercore ISI Group $75 → $60 Downgrades Outperform → Neutral 08/22/2023 14.71% JP Morgan $64 → $67 Maintains Overweight 08/08/2023 19.84% Mizuho $80 → $70 Maintains Buy 08/03/2023 24.98% Morgan Stanley $79

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4 Software Stocks to Buy and 3 to Sell, According to an Analyst — Barrons.com

/ / Technology /

By Eric J. Savitz After software stocks’ broad rally in 2023, it’s time for investors to get pickier. The sector roared 58% higher last year — as measured by the closely watched i Shares Expanded Tech-Software Sector exchange-traded fund — driven by the mania over generative artificial intelligence, cost cuts, and hopes for lower interest rates. Of course, some of those trends are still in place: The AI trend is really just starting, and companies continue to trim staff and look for ways to improve profitability. But uneven demand conditions and the unclear timing of AI’s boost to profits mean the sector’s performance could be a bit more mixed in 2024. “Software stocks are no more expensive than a year ago, thanks to the ‘year of efficiency’ and new GenAI growth opportunities,” BNP Paribas analyst Stefan Slowinski wrote Thursday, in a long report on the software industry’s outlook. “The bad

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Fiserv, Inc. (NYSE: FI) Stock Analyst Ratings

/ / Industrials /

Fiserv, Inc. (NYSE: FI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 13.48% Mizuho $150 → $156 Maintains Buy 01/08/2024 16.39% Keybanc → $160 Upgrades Sector Weight → Overweight 12/22/2023 27.3% Tigress Financial $160 → $175 Maintains Buy 12/05/2023 10.57% BMO Capital → $152 Initiates Coverage On → Outperform 11/16/2023 9.11% UBS $140 → $150 Maintains Buy 11/16/2023 9.11% Mizuho $140 → $150 Maintains Buy 11/16/2023 4.75% RBC Capital → $144 Reiterates Outperform → Outperform 11/16/2023 9.11% Wedbush → $150 Reiterates Outperform → Outperform 11/16/2023 -3.25% Morgan Stanley $129 → $133 Maintains Equal-Weight 10/25/2023 27.3% Susquehanna $170 → $175 Maintains Positive 10/25/2023 6.93% Raymond James $145 → $147 Maintains Outperform 10/20/2023 1.84% UBS → $140 Assumes Buy → Buy 10/17/2023 -12.71% Truist Securities $130 → $120 Maintains Hold 08/22/2023 6.2% JP Morgan $136 → $146 Maintains Overweight 08/01/2023 4.75% RBC Capital

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Mastercard Inc. (NYSE: MA) Stock Analyst Ratings

/ / Industrials /

Mastercard Inc. (NYSE: MA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 7.73% Mizuho $420 → $462 Maintains Buy 01/11/2024 12.4% Goldman Sachs $433 → $482 Maintains Buy 01/11/2024 18.93% Oppenheimer → $510 Upgrades Perform → Outperform 01/08/2024 10.77% Keybanc $430 → $475 Maintains Overweight 12/20/2023 — Monness, Crespi, Hardt Initiates Coverage On → Neutral 12/12/2023 11.93% Jefferies $425 → $480 Maintains Buy 12/07/2023 15.43% Tigress Financial $476 → $495 Maintains Strong Buy 12/05/2023 10.77% BMO Capital → $475 Assumes → Outperform 10/31/2023 -2.06% Mizuho $435 → $420 Maintains Buy 10/30/2023 9.6% Barclays $479 → $470 Maintains Overweight 10/27/2023 0.74% RBC Capital $441 → $432 Maintains Outperform 10/27/2023 10.07% BMO Capital $488 → $472 Maintains Outperform 10/27/2023 2.37% Morgan Stanley $443 → $439 Maintains Overweight 10/27/2023 5.4% Raymond James $453 → $452 Maintains Outperform 10/27/2023 0.27% Keybanc $440 → $430 Maintains

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Visa Inc. (NYSE:V) Stock Analyst Ratings

/ / Industrials /

Visa Inc. (NYSE:V) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 -0.57% Mizuho $243 → $265 Maintains Neutral 01/08/2024 12.56% Keybanc $275 → $300 Maintains Overweight 12/20/2023 — Monness, Crespi, Hardt Initiates Coverage On → Neutral 12/14/2023 14.44% UBS $295 → $305 Maintains Buy 12/12/2023 10.68% Jefferies $280 → $295 Maintains Buy 12/05/2023 5.06% BMO Capital → $280 Initiates Coverage On → Outperform 10/31/2023 -8.83% Mizuho $240 → $243 Maintains Neutral 10/30/2023 4.31% Barclays $285 → $278 Maintains Overweight 10/25/2023 1.3% Wedbush → $270 Reiterates Outperform → Outperform 10/25/2023 7.68% Raymond James $284 → $287 Maintains Outperform 10/18/2023 -5.45% Oppenheimer $248 → $252 Maintains Outperform 10/18/2023 3.18% Keybanc $265 → $275 Maintains Overweight 10/13/2023 -0.2% HSBC → $266 Initiates Coverage On → Hold 10/12/2023 6.93% Barclays $287 → $285 Maintains Overweight 10/12/2023 — Seaport Global Initiates Coverage On → Neutral 10/09/2023

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Microsoft’s Fiscal Q2 Seen Benefitting From Azure Strength, BofA Says

/ / Technology /

Microsoft’s (MSFT) fiscal Q2 earnings are expected to benefit from the continued strength of Azure and M365, offset by weaker PC shipments, BofA Securities said in a note to clients Thursday. Microsoft is set to release its fiscal Q2 results after market close on Jan. 30. BofA said it expects an upside of 1% in constant currency to its Q2 revenue forecast of $60.9 billion, with currency anticipated to give a 2% point tailwind to Q2 growth compared with projections of 1% heading into the period. “Accelerating [average selling price] growth from M365 Copilot attach is likely to drive Office growth toward 20%,” BofA said. For Azure, the firm said it expects a 1% upside to its estimated growth of 26.5% in constant currency amid feedback suggesting “healthy continued migration of new workloads” and “sustaining adoption of the Microsoft security stack.” “In summary, we expect total revenue growth to accelerate

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