By Davit Kirakosyan
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at NVIDIA, Ford, Vipshop, and Accolade.
InvestingPro subscribers got this news in rapid fire. Never be left in the dust again.
NVIDIA upgraded to Outperform, stock jumps on strong Q1 beat & outlook
Baird upgraded NVIDIA (NASDAQ:NVDA) to Outperform from Neutral and raised its price target to $475.00 from $300.00.
This followed the company’s reported strong Q1 beat and guidance, which was well ahead of estimates. As a result, shares jumped more than 25% pre-market today.
Q1 EPS came in at $1.09, compared to the consensus of $0.92, while revenue was $7.19 billion, compared to the consensus of $6.52B. Q2/24 revenue is expected to be $11B, significantly better than the consensus of $7.15B. The company stated that it is increasing supply to meet the rapidly growing demand for its artificial intelligence chips, which are utilized in powering ChatGPT and numerous other comparable services.
Ford upgraded following Investor Day
Ford (NYSE:F) shares rose around 1% pre-market today after Daiwa Securities upgraded the company to Neutral from Underperform with a price target of $12.00 following Ford’s Investor Day, as InvestingPro reported in real time.
According to the brokerage, the Ford Pro segment stood out in terms of strong market position, diversified end-markets and potential to generate recurring revenue.
Daiwa raised its 2023 EPS estimate to $1.80 from $1.70 to reflect a resilient industrial economy potentially driving stronger performance at Ford Pro.
2 more upgrades
Vipshop (NYSE:VIPS) shares rose more than 2% pre-market today after JPMorgan upgraded the company to Overweight from Neutral and raised its price target to $18.00 from $16.00.
The firm believes Vipshop will be the best defensive play in the China e-commerce space in the next six months on earnings visibility/upside risks, and the share price correction over the past week offers an entry point for investors.
The company reported its Q1 earnings on Tuesday, with both EPS and revenues coming in above the Street estimates.
Bank of America upgraded Accolade (NASDAQ:ACCD) to Buy from Neutral with a price target of $16.50 as it sees an appealing long-term trajectory and breakeven path. Shares surged more than 7% yesterday.
The firm believes the recent selloff after earnings and analyst day is “well overdone” while the stock offers a highly appealing risk-reward.
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