The latest market-moving chatter.
Here's the latest market-moving chatter:
[.custom-color]AMD[.custom-color] was downgraded by Morgan Stanley over concerns its AI chips won't live up to the high expectations the market has set for it.
We like the narrative, but AI bar remains high... persistently high AI expectations make us more cautious on their ability to justify a premium multiple.
However, the price target was held steady at $176 (it's $160 at the time of writing). Morgan Stanley prefers Nvidia and Broadcom. The stock is down from $211 in March.
[.custom-color]American Express[.custom-color] started being covered by Citi Bank. It gave it a neutral rating with a price target of $250.
[.custom-color]Snowflake[.custom-color] was given a "neutral" rating by Monness Crespi & Hardt. However, their comments around it seemed anything but neutral. The report cited thin margins, high valuation, spotty execution, and heavy competition. They also said,
We believe the darkest days of this economic quagmire are ahead of us.
[.custom-color]Uber[.custom-color] was reiterated as a "buy" by Mizuho Securities with a $90 target price.