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The Latest Breaking News from BofA Securities

BofA Downgrades Ginkgo Bioworks, Cuts Price Target In Half

While Ginkgo Bioworks Holdings Inc’s (NYSE: DNA) overall first-quarter results were better than expected, revenues and active programs in its core Foundry segment fell short of estimates, according to BofA Securities.

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BofA Cuts Boeing Target On Higher Risk Profile

Boeing Co (NYSE: BA) could face several “unexpected” challenges in the near term, according to BofA Securities. The Boeing Analyst: Ronald Epstein reiterated a Neutral rating on Boeing, while trimming the price target from $180 to $150.

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BofA Downgrades FirstEnergy On Higher Pension Drag

With rising interest rates, FirstEnergy Corp. (NYSE: FE) is poised to be negatively impacted by higher pension expenses, according to BofA Securities.

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Why Nio Stock Is Rising Today

NIO Inc (NYSE: NIO) shares are trading higher Monday following bullish analyst coverage from BofA Securities.

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Why Bank Of America Is Turning Bullish On This ESG Stock

Atlantica Sustainable Infrastructure PLC (NASDAQ: AY) is a “defensive play” in a highly volatile market, according to BofA Securities.

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Why This Netflix Analyst Just Cut Their Price Target By 20%

Netflix Inc (NASDAQ: NFLX) seems to be focusing on finding ways to accelerate subscriber additions and “defer the ARPU story,” according to BofA Securities.

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BofA Upgrades O'Reilly After A Relook At Q1 Print

O'Reilly Automotive Inc (NASDAQ: ORLY) is a defensive auto-parts retailer whose stock has moved significantly lower, according to BofA Securities.

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Why BofA Double Downgrades Sprouts Farmers Market To Underperform

Sprouts Farmers Market Inc (NASDAQ: SFM) expects double-digit percentage cost inflation and price hikes to continue through 2022, according to BofA Securities.

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Why This Hexcel Analyst Is Double Upgrading The Industrial Stock

Hexcel Corporation (NYSE: HXL) seems to be taking “full advantage” of the post-COVID commercial recovery, according to BofA Securities.

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Freshpet Raises $350M Via Equity Offering

Freshpet Inc (NASDAQ:FRPT) has priced the follow-on offering of 4.3 million shares at $81 per share. The offer price represents a 2.3% discount on the company’s closing price on May 3, 2022. Freshpet has also granted the underwriters a 30-day option to purchase up to 0.6 million additional shares of its common stock.…

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Why Did BofA Downgrade Charter Communications And Slash Price Target?

Growing competition from fixed wireless will be a challenge for Charter Communications Inc (NASDAQ: CHTR), and as the company works to regaining lost subscribers, fixed wireless access (FWA) is likely to continue to gain share “in coming years,” according to BofA Securities.

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Why BofA Initiates Kinetic Holdings With Buy Rating

Kinetik Holdings Inc (NASDAQ: KNTK) is strong growth and free cash flow story, given its ownership in the Permian natural gas takeaway and latent processing capacity, according to BofA Securities.

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BofA Upgrades Robert Half On Labor Market Momentum

After generating 26.5% sales growth in 2021, Robert Half International Inc (NYSE: RHI) appears poised to deliver sales growth of 20% in 2022, according to BofA Securities.

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Why BofA Downgrades Carter's Ahead Of Q1 Print

Carter's, Inc. (NYSE: CRI) faces a risk to margins as the promotional environment normalizes, according to Bofa Securities.

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General Electric Q1 Print Shows Strong Orders, But One Issue Continues

General Electric Company (NYSE: GE) reported its first quarter adjusted earnings above Street estimates. Although orders were strong, the company’s print was impacted by supply chain issues much more than anticipated, according to BofA Securities.

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This Analyst Sees 4 Near-Term Risks For Overstock

Overstock.com Inc’s (NASDAQ: OSTK) revenues through 2022 are likely to be under much more pressure than earlier anticipated throughout this year, according to BofA Securities.

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BofA's Key Takeaways From Coca-Cola Earnings

Coca-Cola Co (NYSE: KO) reported its first-quarter organic growth higher than BofA and Street estimates, and this growth was led by higher volumes, according to BofA Securities.

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How E2open Is Riding The Supply Chain Wave, BofA Says

E2open Parent Holdings Inc’s (NYSE: ETWO) shares are likely to re-rate in case SaaS (software as a service) revenue growth continues, according to BofA Securities.

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Pricing Drove Procter & Gamble's Sales Growth Beat: BofA Analysis

Although Procter & Gamble Co (NYSE: PG) exceeded expectations by reporting more than 10% organic sales growth for the first quarter, the company’s margins contracted, according to BofA Securities.

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Why BofA Cut Netflix Target Price By 50%

Netflix Inc (NASDAQ: NFLX) reported negative net subscriber additions for the first quarter, at -203,000 versus guidance of 2.5 million and Street expectations of 2.6 million, according to BofA Securities.

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BofA Downgrades Chemical Stocks Archer Daniels, Bunge

Both Archer-Daniels-Midland Co (NYSE: ADM) and Bunge Ltd (NYSE: BG) seem to be nearing peak earnings, with a likely contraction in soybean crush margins over the next couple of years, according to BofA Securities.

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Why Nektar Shares Are Down Almost 35%

Shares of Nektar Therapeutics (NASDAQ: NKTR) have come under pressure after the company “announced the discontinuation of the remaining clinical development programs of bempeg + nivo (Opdivo) in collaboration with Bristo,” according to BofA Securities.

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Oil Stock Momentum Shifting From E&Ps To Refiners: What Company Is BofA Securities' Top Pick?

The U.S. refiners, rather than E&Ps, is where there is the “greatest potential for continued absolute outperformance,” according to BofA Securities.

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Semiconductor Stocks Mauled By Bears As First-Quarter Earnings Season Starts

First-quarter earnings season is shaping up to be a rough one for chip stocks, judging by the reaction to Taiwan Semiconductor results.

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BofA On PayPal CFO Departure, Company's New Strategy

Although there were execution issues at PayPal Holdings Inc (NASDAQ: PYPL), the departure of John Rainey as CFO was unexpected and shares declined by 2% in after-hours trading on Tuesday, according to BofA Securities.

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