Selected highlights of the day

CPA

•  JP Morgan analyst Fernando Abdalla expressed his bullish outlook on Copa Holdings with the price target increase from $105 to a lofty $132.

PNR

• Mizuho analyst Brett Linzey is optimistic about Pentair’s potential, upgrading the stock from Neutral to Buy and increasing his price target from $44 to $60.

 

Lennar Corporation

Declared a cash dividend of $0.375 per share, to be distributed on February 10th, 2023.

•  RBC Capital analyst Mike Dahl reduced his rating from “Sector Perform” to “Underperform” and adjusted the price target lower from $79 down to $76.

CMRE

• Stifel analyst Benjamin Nolan slashed his ratings for maritime giant Costamare from Buy to Hold and lowered the price target  from $12.5 to $11.

SUNL

In July 2021, Sunlight Financial Holdings completed its business combination with Spartan Acquisition Corp II and became a publicly traded company. However, just under two years later on September 28 2022 the firm disclosed that it had to record large financial losses due to an impairment charge of $30-33 million dollars – leading one shareholder to file a class action lawsuit for all investors who purchased or otherwise acquired SUNL securities between January 25, 2021 and September 28th in 2020 alleging violation of the Securities Exchange Act from 1934. Having marketed itself as a provider of residential solar solutions.

• Credit Suisse analyst Maheep Mandloi has downgraded from Outperform to Neutral and reduced his price target from a sunny $4 to an overcast $1.6.

Tesla, in order to qualify for US tax credits have several models got price drops

Rear wheel drive Model 3 from $44k to $50k (6%), performance version dropping 20% from $63K to around 54K; long range model Y also experienced a fall in pricing about 20%, going from roughly 66K to 53k. The performance variant too upended expectations with its reduced rate plummeting 70 thousand dollars all the way down closer towards 57 thousand.

• Analyst Colin Langan of Wells Fargo lowered his stock forecast $230 to $130 with an Equal-Weight rating.

MRNA

Daiichi Sankyo announced on Friday that it has submitted a domestically-developed mRNA vaccine for review by Japan’s regulatory authorities. The vaccine, known as DS-5670 and intended to be used as a booster shot, was tested in approximately 5,000 Japanese adults who achieved levels of COVID antibodies at least equivalent to those from other such vaccines. Its development is also being continued so the Omicron strain can additionally be targeted – supplanting current dependency on imports from U.S.-based Pfizer Inc and Moderna.

AAPL

Despite receiving a pay cut of nearly $3 million, Tim Cook’s compensation still remains one of the highest among US CEOs. Though 64% approved his remuneration in Apple’s say-on-pay vote this year – significantly lower than 95% support given for their 2020 fiscal year.

• Analyst Barton Crockett of Rosenblatt downgraded the price target to $165 while still maintaining a Buy rating.

AMZN

• Goldman Sachs analyst Eric Sheridan is keeping the retailer at a Buy rating but reducing his price target from $165 to $145.

Adding to this news, it was also announced that a federal labor official has ruled in favor of unionization for workers employed by Amazon’s Staten Island facility – denying an appeal filed by the e-commerce titan and bringing into motion efforts towards employee representation within one of America’s most steeply valued companies.

 

 

Wishing you a happy long weekend.

 

The AnaChart team