Here are the biggest calls on Wall Street on Wednesday.
BMO downgraded Marvell to market perform from outperform.Maxim upgraded Denny's to buy from hold.
Tesla co-founder and CEO Elon Musk stands in front of the shattered windows of the newly unveiled all-electric battery-powered Tesla's Cybertruck at Tesla Design Center in Hawthorne, California on November 21, 2019.Citi raised its price target on Tesla to $222 from $191but raised its target price and said it saw improved free cash flow.
"We're also introducing 2022 estimates and expanding our valuation framework to consider 2022E multiples. Our 2019-20 EPS estimates rise reflecting the Q3 beat and expected Model Y pull-forward. Our 2021E EPS declines somewhat mostly on below-the-line items. We're also introducing 2022E EPS of $13.33. Our price target rises to $222 from $191 on slight improvements to our probably-weighted terminal value approach.
"With the shares within striking distance of our target price, and with the opportunity in communications well understood and discounted in the current share price, we find reasonably valued with a balanced risk/reward profile. We are thus lowering our rating to Market Perform from Outperform."
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Porsche attracting Tesla owners with all-electric Taycan sports carKlaus Zellmer, president and CEO Porsche Cars North America, said out of thousands of potential customers who have shown interest in the vehicle, Tesla owners are the highest among non-Porsche owners.
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Videos of long lines at Tesla Supercharger stations around Thanksgiving revealed a big hurdle companies like Tesla and Volkswagen need to clear before more people will buy EVsTesla has taken a more proactive approach to building charging stations than any other automaker, but there is still work ahead of it.
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Here's why one Wall Street firm thinks 'must-own' Tesla will surge 25% over the next yearTesla has always had a solid mission statement, loyal fans, and bold designs, but lately has 'demonstrated some new skills,' wrote Alexander Potter.
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Tesla is 'a must own stock,' Piper Jaffray says, and will climb more than 25% next yearPiper Jaffray says that 'for all its controversy and volatility, we think TSLA is a must-own stock' in the auto sector.
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Here are the biggest analyst calls of the day: Roku, Wells Fargo, Biogen & moreHere are the biggest calls on Wall Street on Monday.
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