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Bank of America Downgrades Coinbase to Neutral From Buy Analysts at Bank of America said the outlook for the cryptocurrency company is uncertain, but they are confident that this is not another FTX story. “We believe that Coinbase is likely to face a number of new hurdles in the short/medium term due to the recent collapse of rival crypto exchange FTX.” Read more about this call here. UBS raises Conagra’s rating to buy from neutral UBS said in an update to the food company that the stock is at a critical point. “We believe CAG is at the start of a positive valuation review cycle, driven by (1) the strong momentum from the Nielsen scanner data YTD, (2) is one of the few companies in our coverage that is growing in both share volume and by H.H. penetration suggesting his portfolio is improving.” Read more about this call here. Piper Sandler initiates the DraftKings project as Piper said that DraftKings is the leader in the sports betting market. “We are launching DraftKings with an Overweight rating and a price target of $21. DraftKings is a leader in the online sports betting market with a growing presence in iGaming, which together represents an $80 billion TAM between the US and Canada.” Goldman Sachs Names Amazon and Etsy Top Holiday Deals Goldman said it likes Amazon and Etsy heading into the holiday season amid uncertain macroeconomic outlook. “Against this more uncertain backdrop, our Buy-rated AMZN and ETSY stocks reflect our preference for: a) profitable and high-profile players with higher growth profiles, b) sustainable models supported by platform breadth, category diversification, and more favorable end-market entry. . , and c) our expectations of further market share consolidation in e-commerce. Bank of America confirms General Motors view on purchase Bank of America said in a note after Thursday’s automaker’s investor day that it is poised to become an industry leader. GM reviewed some of its new product portfolio for 2023-2024, which included product updates for ICE vehicles as well as new electric vehicle models.” be too volatile. “The latest data shows a significant slowdown in growth in October and a slip on Saturday in the 3rd quarter after an encouraging September. RENT’s business has proven to be more volatile than we originally anticipated, which could mean it will take longer to reach the 300k base it needs to reach profitability.” Read more about this call here. about the latest transactions of the company. “For the WBA, the surprise news of the quarter was the announcement of the Summit Health deal, which combines Summit with Walgreens Healthcare (and its consolidated affiliates), valuing Summit at $8.9 billion. This transaction significantly increases Walgreens Healthcare’s product offering and scale.” Read more about this call here. The crowd is predicting major housing-related pressure on sales in the home furnishings industry and its business, we are fading into the background as evidence of a course correction emerges in its “rise to the pinnacle of luxury” strategy. Credit Suisse downgraded Hewlett Packard from neutral to neutral. Credit Suisse said it sees too many macro hurdles for the stock: “We are downgrading HP from Outperform to Neutral as we believe earnings and margins will be under threat in the near term due to: weaker consumer sentiment, accounting for about 50% of PC revenue.” Credit Suisse Names Ross Top Pick Credit Suisse believes the discount retailer has the most “torque” to accelerate market share growth. our optimistic thesis is that Offpricers are rapidly repositioning for market share gains and strong EPS tailwinds as margins return to pre-COVID levels starting in 23 years.” exaggerated. “Given the continued strong demand for the iPhone 14 Pro/Pro Max and the rigidity of the AAPL ecosystem, we continue to see this as deferred or lost revenue. / fields.” Credit Suisse initiates Pfizer as superior Credit Suisse stated in its Pfizer initiation that it enjoys the company’s achievements. “Pfizer has been adversely affected by the success of its COVID vaccine. Our thesis is based not on a single asset, but on a combination support growth.” Credit Suisse Initiates Eli Lilly Lead Credit Suisse said in its initiation Eli Lilly that it sees “upward revisions” from obesity sales. “If markets strengthen with greater clarity, we will see our fast-growing names such like Eli Lilly, will be insulated from the pivot from defensive names back to rising names.” Correction: Bank of America analysts are confident Coinbase is not another FTX story. An earlier version of this article misrepresented that view.
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