Deutsche Bank

Deutsche Bank: Cut Affirm Holdings (Nasdaq:AFRM) price target to $12 Maintain hold rating

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Deutsche Bank analyst Bryan Keane lowered its price target on Affirm Holdings (Nasdaq:AFRM) to $12 from $18 and maintained its hold rating on the stock. The analyst noted that the company reported lower-than-expected revenue growth and was at the bottom end of the guidance due to lower than guidance on total merchandise transactions and revenue net of transaction costs. He added that Affirm has now expressed willingness to compromise on gross merchandise volume growth to guarantee credit quality.

Deutsche Bank: Cut Affirm Holdings (Nasdaq:AFRM) price target to $12 Maintain hold rating Read Post »

Deutsche Bank: Raised Meta Platforms (NASDAQ:META) price target to $200 from $125 with a Buy rating

/ / Technology / ,

Deutsche Bank released a report that although preliminary evidence shows that the Meta Platforms (NASDAQ:META) short video platform Reels business is performing well, competition is everywhere and cyclical concerns remain. The bank believes that Meta’s challenges remain largely temporary, and that investments in privacy-preserving measurement and location solutions, growth in signals on the platform, and increased Monetization of Reels should mitigate current headwinds over time. The company is shifting to prioritizing efficiency this year and beyond, lowering the midpoint of its FY23 operating expense and capital expenditure guidance by $5 billion and $4 billion, respectively, which is expected to deliver significant upside in earnings and free cash flow. In terms of revenue, Reels appears to have reached sufficient size to focus on monetization efficiency while adding $40 billion in repurchase authorizations, which is another positive news for capital allocation. The bank kept its revenue forecast relatively unchanged, but raised its

Deutsche Bank: Raised Meta Platforms (NASDAQ:META) price target to $200 from $125 with a Buy rating Read Post »

Deutsche Bank: Wells Fargo (NYSE:WFC) Price target lowered to $50 Maintain Buy rating

/ / Financials / ,

Deutsche Bank analyst Matt O’Connor lowered Wells Fargo’s price target to $50 from $60 and maintained a buy rating on the stock. The analyst believes that it seems likely that US bank stocks will continue to hit new lows. He assumed that bank stocks would trade below their historical range of 60%-80%, saying bank earnings may have peaked. He also believes that in the event of a recession, rising reserves and valuations pose downside risks.

Deutsche Bank: Wells Fargo (NYSE:WFC) Price target lowered to $50 Maintain Buy rating Read Post »

Deutsche Bank: Tesla (TSLA. O) Lowered price target to $270 from $355 Maintain Buy rating

/ / Consumer Discretionary / ,

2022.12.21 Deutsche Bank analyst Emmanuel Rosner puts Tesla (TSLA. O) lowered its price target to $270 and reiterated its buy rating. Analysts lowered Tesla’s Q4 delivery forecast to 420,000 units, reflecting macro weakness in some markets and the postponement of deliveries to Q1 2023 for some U.S. consumers to benefit from incentives from the Inflation Reduction Act. At the same time, Rosner lowered its gross margin forecast to a 30 basis point decline from a 100 bps sequentially higher price, reflecting sequential improvements in plant costs, largely offset by recent price cuts and incentives. That lowered its Q4 EPS forecast to $1.05 from $1.18, also down from the current Wall Street estimate of $1.25. Tesla “remains in the best position to respond to current macroeconomic conditions, using price to support volume growth and using various cost levers to protect margins.” He lowered his price target to reflect Tesla’s “recent challenges,

Deutsche Bank: Tesla (TSLA. O) Lowered price target to $270 from $355 Maintain Buy rating Read Post »

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