[ad_1]
(This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A real estate data stock and a beauty company were among the companies being talked about by analysts on Tuesday. JMP Securities reiterated its market outperform rating on CoStar Group, with its price target implying upside of nearly 50%. Canaccord Genuity, meanwhile, raised its price target on Elf Beauty. Elsewhere, JPMorgan raised its price target on Apple to $245 from $225. Check out the latest calls and chatter below. All times ET. 7:08 a.m.: Goldman Sachs upgrades STMicroelectronics to neutral Goldman Sachs is now more constructive on European semiconductor manufacturing and design company STMicroelectronics . The bank upgraded the stock to neutral from sell, citing improving demand across end-markets and priced-in underperformance. U.S.-traded shares are down 14% year to date. Analyst Alexander Duval noted weaker demand from major customers such as Tesla and Apple contributed to the stock’s underperformance. “While we continue to see a lack of visibility on several end markets and associated inventory levels, we nevertheless believe that the backdrop has improved for STM in recent quarters,” Duval wrote in a Monday note. Duval’s $45.80 price target on shares indicates 6.3% upside from Monday’s close. — Hakyung Kim 6:49 a.m. ET: JPMorgan raises Apple price target Apple’s AI announcements could lead to bigger iPhone sales, according to JPMorgan. Analyst Samik Chatterjee raised his price target on the stock to $245 from $225. The new forecast implies upside of 13% from Monday’s close. Chatterjee also reiterated his overweight rating on shares. “We are updating our volume forecasts for the iPhone 16 and iPhone 17 cycle following the WWDC event, which laid out a collection of AI features that in our view will drive an upgrade cycle that starts with the iPhone 16 launch … followed by a cycle peak with the launch of iPhone 17,” Chatterjee wrote. The announcements last week sent shares up nearly 8% to record highs. — Fred Imbert 6:30 a.m.: Piper Sandler still bullish on Celsius Holdings The sell-off in Celsius Holdings is “overdone,” says Piper Sandler. The energy drink company is down more than 40% from its March highs, putting it just 7.2% higher year to date. Despite the pullback in shares, the firm remains confident in Celsius’ growth outlook. Analyst Michael Lavery reiterated his overweight rating and $90 price target on shares, which suggests a 50% gain from Monday’s close. “We continue to believe in CELH’s sustainable, volume-driven sales growth, which is decelerating from its recent hyper-growth levels to still very robust growth, just as we had expected, but we continue to see a long runway of further growth in both the US and internationally,” Lavery wrote in a Monday note. To be sure, Celsius is seeing ordinary retail trend volatility on a short-term basis; however, the two-year average growth rate is stable, Lavery noted. The company launched in Canada, the UK and Ireland earlier in 2024, with more overseas expansions scheduled in the fourth quarter. — Hakyung Kim 6:03 a.m.: Elf Beauty has nearly 30% upside, says Canaccord Genuity Elf Beauty is primed for strong growth ahead, according to Canaccord Genuity. Shares of the beauty company have already surged 35.4% this year — and according to the firm’s new $250 price target, up from $214, the stock could climb an additional 27.9% from Monday’s close. The company is “doing elf-ing well,” analyst Susan Anderson wrote in a Monday note. “Overall, we still believe ELF is in the early innings of its growth story as the brand still lags the legacy brands around brand recognition and even shelf space depending on the channel.” Anderson noted that Elf’s management has historically been conservative with guidance, meaning that the company is likely to outperform in its 2025 fiscal year sales and international segment. The company’s upcoming Walmart partnership could result in an additional $160 million in sales, according to the analyst. “In addition to the Walmart shelf-space expansion that we believe could prove to be an even bigger dollar contributor than the recent successes at Target, ELF is also continuing to grow at break-neck pace in the online channel and internationally,” said Anderson. — Hakyung Kim 6:03 a.m.: CoStar Group to rally nearly 50%, JMP Securities says JMP Securities thinks CoStar Group , a real estate data and analytics company, is primed for strong gains ahead. Analyst Nicholas Jones reiterated his market outperform rating on the stock along with a $110 price target. That forecast implies upside of 49% over the next 12 months. Shares have struggled this year, losing 16%. CSGP YTD mountain CSGP year to date However, Jones said he is more confident on the company’s future following a meeting with its investor relations team. “Overall, we felt that CSGP’s tone was consistent with prior earnings calls, and while it may be experiencing some volatility in the early stages of monetizing Homes.com, the team does not seem surprised, and rather, sounded prepared for the dynamic,” Jones wrote. “Third-party data and web scraped data appears to be creating noise around prevailing trends at Homes.com, from the company’s perspective, and has pressured share price. We do not view the call as thesis changing and believe CSGP has ample profitability to continue investing in its Homes.com business,” he added. — Fred Imbert
[ad_2]
Source link