Two megacap stocks were in focus Wednesday after some major calls made by analysts.
On a positive note, Bank of America raised its price target on Nvidia to $1,100, implying gains of nearly 20%. On the other hand, Wells Fargo downgraded Tesla to underweight from equal weight. Check out the latest calls and chatter below. All times ET. 7:38 a.m.: Better pricing can help this homebuilder stock, RBC says RBC Capital Markets moved off the sidelines on Tri Pointe Homes as the pricing landscape sweetened.
mountain TXRH — Alex Harring 6:47 a.m.: Coinbase can rally nearly 20% as investors enter crypto funds, JMP says Coinbase can benefit as investors continue buying into bitcoin ETFs, according to investment firm JMP. Analyst Devin Ryan reiterated his market outperform rating on the digital currency trading platform and increased his price target by $80 to $300. Ryan's new target implies shares can add another 17.1%.
mountain COIN year to date — Alex Harring 6:28 a.m.: Shoemaker can soar nearly 80% following post-earnings tumble, UBS says On Holding's post-earnings slide creates a good place for investors to snap up shares, UBS said. Analyst Jay Sole reiterated his buy rating, while adding $4 to his price target. Sole's new $55 target implies shares can now rally 79.5%. The athletic shoemaker fell nearly 9% Tuesday after missing fourth-quarter earnings and revenue expectations.
mountain SMCI in past year To be sure, Bhattacharya noted risks such as the availability of graphics processing units, pricing pressure from competition, or changes to margins or valuation that can all impact the stock's performance. He also said the stock could re-rate lower if growth expectations don't materialize. — Alex Harring 5:44 a.m.
mountain TSLA one-year chart — Fred Imbert
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