The latest analyst picks from Wall Street.
[.custom-color]Birkenstock[.custom-color] has been upgraded to a Buy by UBS, with a revised price target of $85 - which represents a huge 57% increase over its current price of $54. UBS' rosy outlook is based on three key factors:
Citi is now also covering Birkenstock, giving it a "Buy" rating but with a more muted price target of $65.
[.custom-color]IntercontinentalExchange (ICE)[.custom-color] was upgraded to Buy from Neutral by Goldman Sachs with a price target of $167, up from $143 (currently $136.93). After single-digit earnings growth for the last 3 years, Analyst Alexander Blostein sees the financial exchange and clearing house operator as bringing in low-teens expansion from 2025 onwards. A key driver of growth is expected to be expansion in energy markets, a major area for the exchange provider, with Blostein expecting to see a 25% revenue bump for ICE in 2024, and 8-10% in subsequent years. Other factors include growth in fixed income data and analytics, and the ending of the current cyclical trough in mortgage technology. Higher cash flow could also lead to share repurchases. All of this means the shares are undervalued according to Goldman.
[.custom-color]Charter[.custom-color], the largest US cable operator by subscribers, was given a Sell rating by Goldman Sachs. They foresee its share price falling as low as $250 (from $292) fueled by increased competition in the sector. The analyst predicts that Charter will be squeezed at the lower end of the market by fixed wireless services trying to attract budget-conscious consumers, while also being squeezed by higher-end fiber offerings.
[.custom-color]Gauzy[.custom-color], the recently floated Smart Glass company, was given a Buy rating by TD Cowen. Its price target is $24, representing a massive 110% upside over the current value. There is confidence that Gauzy can bring its innovative products to several markets including aeronautics and Advanced Driver Assistance Systems.
[.custom-color-downgrade]Zimmer Biomet[.custom-color-downgrade]was downgraded from Overweight to Neutral by Piper Sandler. Analyst Matt O'Brien gave the medical device company a price target of $115, down from $140. Reasons included a slow ramp-up in the latter half of 2024 and limited growth potential for hip and knee estimates in fiscal 2025, which make the stock less appealing. The firm does not anticipate any near- or medium-term catalysts that would significantly drive the stock price higher.
[.custom-color-downgrade]Tesla[.custom-color-downgrade] was reiterated as Underweight by Wells Fargo. They cited "declining delivery growth driven by lower demand and diminished return on price cuts."