Macquarie: Maintains Microsoft’s (NASDAQ:MSFT) neutral rating and $241 price target

/ / Technology / ,

Macquarie analyst Sarah Hindlian-Bowler noted that OpenAI announced GPT-4, the latest version of its GPT AI model, a significant improvement over previous model versions, and Microsoft (NASDAQ:MSFT) also announced on Tuesday that the new Bing Search has been running on an earlier version of GPT-4 for the past five weeks. While the line says generative AI is “in a hype cycle,” it’s “still fairly real” and GPT-4 is “the current industry standard.” It’s hard for investors to understand who will win and who will lose, but Macquarie believes Microsoft is a “clear winner” given its improvements to Bing, the size of the search market and Google’s current dominance. The bank maintained a neutral rating on Microsoft stock and a $241 price target.

Macquarie: Maintains Microsoft’s (NASDAQ:MSFT) neutral rating and $241 price target Read Post »

Morgan Stanley raised Nvidia (NASDAQ:NVDA) price target to $304 from $255

/ / Technology / ,

Morgan Stanley has moved its rating on NVIDIA’s (NASDAQ:NVDA) stock to overweight from equal-weight, with a price target of $304, up from $255. The technology company is expected “to be the core hardware enabler” of the large language model trend, which will be reflected in its results in the coming years, analysts Joseph Moore, Scott Fessler, Mason Wayne and Shane Brett said.

Morgan Stanley raised Nvidia (NASDAQ:NVDA) price target to $304 from $255 Read Post »

Alcoa(NYSE:AA) announced the closure of the Interlco smelter in preparation for reconstruction

/ / Basic Materials /

On March 14, 2023, Alcoa Corporation (the “Company”) approved the permanent closure of the Intalco aluminum smelter (the “Smelter”) located in Washington state, U.S.A, effective immediately. The Smelter has been fully curtailed since 2020. The Company’s decision to permanently close the Smelter was made after various options were evaluated for the Smelter. The Smelter has a total capacity of 279,000 metric-tons-per-year. Decommissioning and demolition activities to prepare the site for potential redevelopment will begin immediately. The Company will record restructuring and related charges in the first quarter of 2023 of approximately $120 million (pre- and after-tax), or $0.67 per share, related to the permanent closure of the Smelter. These charges include: approximately $17 million of asset impairments; approximately $51 million to write off the remaining net book value of various assets; approximately $51 million related to decommissioning and demolition obligations, such as asbestos abatement and material disposal; and $1 million of employee

Alcoa(NYSE:AA) announced the closure of the Interlco smelter in preparation for reconstruction Read Post »

United States Steel (NYSE:X) Updates Q1 2023 Earnings Guidance

/ / Basic Materials /

March 16, 2023 — United States Steel (NYSE:X) Provides first quarter 2023 guidance. The company provided earnings per share (EPS) guidance of $0.58-0.63 for the period, compared to the consensus estimate of $0.22. United States Steel also updated its Q1 2023 guidance to $0.58-$0.63 EPS. Adjusted EBITDA for the first quarter of 2023 is expected to be approximately $375 million, compared with analyst expectations of $304.8 million. the company expects to complete approximately $75 million of repurchases of common stock in the first quarte under its existing $500 millon stock buyback authoriation.

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Oppenheimer Maintains Netflix (NASDAQ:NFLX) Outperform rating with a $415 price target

/ / Consumer Discretionary / ,

Oppenheimer analyst Jason Helfstein noted that Netflix (NASDAQ:NFLX) shares are down 22 percent from their highs since the fourth quarter of last year, as the stock is now at an attractive level due to concerns about higher churn and slower ad placement due to password sharing. Netflix’s engagement trend in the first quarter was weaker than in the previous two quarters, but in line with the average of its first six quarters, the analyst said. The company believes that account sharing will generate “meaningful growth” in EBITDA and said competitors are more focused on profitability, indicating that it has passed the peak of competition. The analyst sees an opportunity for Netflix shares after a period of weakness and maintains an outperform rating on the stock with a $415 price target.

Oppenheimer Maintains Netflix (NASDAQ:NFLX) Outperform rating with a $415 price target Read Post »

Stifel Raised Meta Platforms (NASDAQ:META) price target to $230 Maintain Buy rating

/ / Technology / ,

Stifel analyst Mark Kelley will raise its price target on Meta Platforms (NASDAQ:META) to $230 from $210 and maintain a buy rating on the stock after the company released an 8-K filing detailing a new round of work and cost-cutting measures. The analyst told investors in a research note that he lowered his total spending on Meta for 2023 and 2024; Given that the vast majority of these changes will occur in April and May, some degree of disruption is expected, so the revenue growth assumptions have been slightly downgraded.

Stifel Raised Meta Platforms (NASDAQ:META) price target to $230 Maintain Buy rating Read Post »

Truist: Raised Meta Platforms (NASDAQ:META) price target to $230 Maintain Buy rating

/ / Technology /

Truist analyst Youssef Squali will raise its price target on Meta Platforms (NASDAQ:META) to $230 from $215 and maintain a buy rating on the stock. The analyst noted that the company’s second round of layoffs, which affects 10,000 jobs, will result in annualized cost savings of $2.5 billion to $3.5 billion and should start having a positive impact on profitability in the second half of the year. The analyst added that the move was welcome given that growth has slowed sharply and future visibility remains uncertain.

Truist: Raised Meta Platforms (NASDAQ:META) price target to $230 Maintain Buy rating Read Post »

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