Analysts Stocks

      Daily Update - Jan 04, 2023

      Selected highlights of the day

      By: Matthew Otto

      Ives remains bullish on Apple

      • Despite market concerns, Wedbush analyst Dan Ives remains a firm believer in Apple’s success. He stands by his Outperform rating and even dropped the price target from $200 to $175 saying that “Apple remains our favorite tech name” despite the bearish outlook of other names in this sector who have fallen drastically over the past year. For the last ten years, Ives has been at the forefront of predicting booming stock markets – and he was spot-on in leading investors to success until the dip in 2022.

      Pfizer gets reduced at BOFA

      • A shift in analyst sentiment towards Bank of America Securities was seen today, with Geoff Meacham downgrading his Buy to Neutral while keeping his target price for Pfizer at $60, this is a substantial shift from his bullish outlook in 2022 when his price target was at $70.
      • Analyst Dan Salmon has started covering Amazon with a $130 price target and a rating of Buy.

       

       C.H. Robinson Worldwide

      • Analyst Ariel Rosa at Credit Suisse lowered the target to $93 while maintaining an Underperform rating
      • BAML Securities’ Ken Hoexter slashed his target to $95 with a downgrade from Buy to Neutral.
      • UBS analyst Thomas Wadewitz cut his outlook to $81 along with switching from Neutral to Sell.

      On December 31, 2022, Bob Biesterfeld stepped down as President and CEO of C.H Robinson Worldwide Inc., handing the reins to interim Chief Executive Officer Scott Anderson on January 1st 2023. The Board is currently conducting a search for a permanent replacement with Mr.Anderson not being considered for the position himself.

       

      Deciphera Pharmaceuticals

      • SVB Leerink’s Andrew Berens raised his price targets from $25 to $28 and affirming his Outperform rating.
      • Barclays’ Peter Lawson increasing his target price from  $8 to $9 whilst upholding a Underweight stance.
      • Guggenheim’s Michael Schmidt upgraded his Neutral to Buy while keeping his target form at $22.

      On January 3rd, 2023 Deciphera Pharmaceuticals shared news that they closed out the year 2022 with an impressive $134 million in net product revenue. Furthermore, their blockbuster drug QINLOCK® accounted for nearly 25% of this total income at a $33 million globally – including approximately $26 million generated from U.S sales and another seven million internationally. On top of all these great accomplishments they ended the quarter ending December 31st with more than enough cash to fund into 2025: amounting to roughly 339$ in both cash equivalents and marketable securities.

       

      Bank of New York Mellon

      • Alexander Blostein increased the price target from $59 to ‘Buy’
      • Steven Chubak revised his forecast up, pushing the price target to$60 ans ‘Outperform’.
      • Yesterday Barclays’ Jason Goldberg upgraded his rating to an Overweight with an increased in the price target from $57 to $64.

       

      BXP Boston Properties

      • Mizuho’s Vikram Malhotra setting the price target at $85 after it had previously been set as high as $95.
      • Deutsche Bank’s Derek Johnston downgraded BXP from Buy to Hold and lowered his price target $74.

       

      LAW CS Disco

      • BAML’s Koji Ikeda revised his price target from $25 to $5, while simultaneously downgrading the rating from Neutral to Underperform.
      • Canaccord Genuity’a David Hyne upgraded Hold to Buy and a price target to $12.