By Davit Kirakosyan
Goldman Sachs upgraded NVIDIA (NASDAQ:NVDA) to Buy from Neutral and raised its price target to $275.00 from $162.00, noting that the company delivered “impressive” results, driven by higher-than-expected Gaming revenue and disciplined expense management.
Shares gained more than 15% intra-day today after the company reported its Q4 results, with EPS of $0.88 and revenue of $6.05 billion coming in better than the consensus estimates of $0.81 and $6.01B, respectively. For Q1/23, the company expects revenue of $6.5B, beating the consensus of $6.33B.
Goldman Sachs upgraded Intel (NASDAQ:INTC) to Equalweight from Underweight while cutting its price target to $28.00 from $29.50, as it believes yesterday’s dividend cut was “the right thing to do.”
According to the firm, the improved financial flexibility will support the critical investments needed to execute Intel’s’ transformation during this period of macroeconomic uncertainty.
Shares rose more than 2% intra-day today despite the company announcing it will cut its dividend by 65.8% to $0.125 per share, or $0.5 annualized, for an annual yield of 1.9%.
BofA Securities upgraded TPI Composites (NASDAQ:TPIC) to Buy from Underperform and raised its price target to $14.00 from $9.00.
While the firm acknowledges they could be early in making this move, it noted that the wind business is highly cyclical but has seen a meaningful slump in recent years as solar has "displaced" wind demand despite new robust subsidies for both.
Shares surged more than 22% intra-day today after the company reported its Q4 results, with revenues coming in better than the consensus estimates, while EPS missed expectations.
Deutsche Bank upgraded Dun And Bradstreet Holding Inc (NYSE:DNB) to Buy from Hold and raised its price target to $17.00 from $15.00, noting that the company’s investor day and product demos helped clarify its value proposition. “Following a -17% price decline last week amidst a 4Q earnings miss and lower guide – we see risk/reward as asymmetrically favorable for a largely recurring revenue business model,” said the firm.
Piper Sandler upgraded Wix.com (NASDAQ:WIX) to Neutral from Underweight with a price target of $99.00 (from $80.00).
Shares jumped more than 12% yesterday and were trading nearly 3% higher intra-day today after the company reported a Q4 EPS/revenue beat and provided strong guidance.
Wolfe Research upgraded DocuSign Inc (NASDAQ:DOCU) to Peerperform from Underperform, noting it believes investors are underappreciating the true margin potential of the business and views consensus estimates as relatively de-risked.
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