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The Latest Breaking News from BofA Securities

As Spending Habits Shift, BofA Upgrades Tractor Supply But Downgrades Best Buy

U.S. consumers are shifting their spending habits by prioritizing essential items over discretionary items, according to BofA Securities. The trend has inspired the firm to downgrade the rating for Best Buy Co.

Benzinga

Is Government Intervention Required To Drive EV Adoption? What The US, EU And China Are Doing

By 2030, EV adoption in the US could range from 20% to 55% and government regulation may be the most significant change agent in this development, according to BofA Securities.

Benzinga

Why BofA Downgrades DocuSign Despite Healthy Q1 Print

Although Docusign Inc (NASDAQ: DOCU) reported healthy first-quarter results, its full-year billings guidance was disappointing, reflecting “choppy execution” according to BofA Securities.

Benzinga

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Walmart Maintains Momentum With 'Buy' Rating From BofA

Walmart Inc. (NYSE: WMT) has strong sales momentum and its focus on managing costs could boost results in fiscal 2023, according to BofA Securities. The Walmart Analyst: Robert Ohmes maintained a Buy rating for Walmart, while keeping the price target unchanged at $160.

Benzinga

The 'Sticky' Challenges Driving This Joann Analyst's Downgrade

Joann Inc. (NASDAQ: JOAN) reported disappointing results and its first-quarter print indicated that some challenges are likely to be “sticky,” according to BofA Securities.

Benzinga

BofA 'Cautiously Optimistic' On JD.com

JD.com Inc (NASDAQ: JD) indicated that it has seen some improvement in its logistics and supply chain capacity in the recent week, while experiencing some sequential recovery and pent-up demand, according to BofA Securities.

Benzinga

BofA Securities Highlights PepGen Clinical Trials: Why It Matters

PepGen Inc’s (NASDAQ: PEPG) lead asset, PGN-EDO51 for Duchenne muscular dystrophy (DMD), is in phase 1 clinical trials in healthy volunteers with data expected by the end of the year, according to BofA Securities.

Benzinga

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BofA Upgrades O-I Glass On An Improvement In Outlook

O-I Glass Inc’s (NYSE: OI) positioning in Europe has strengthened and there is potential for demand for glass-packaged products to be less price elastic, according to BofA Securities.

Benzinga

7 Analysts On Palo Alto Networks Earnings: Upbeat Results Despite 'Continued Tough Supply Environment'

Palo Alto Networks Inc (NASDAQ: PANW) reported revenues and earnings for its fiscal third-quarter ahead of expectations. BofA Securities On Palo Alto Networks: Analyst Tal Liani reiterated a Buy rating and a price target of $650.

Benzinga

Novavax Has Limited Pipeline Upside, Says BofA Analyst: What's Next?

Although Novavax, Inc’s (NASDAQ: NVAX) shares have tanked 59% year to date, there is still room for a further decline, according to BofA Securities. The Novavax Analyst: Alec Stranahan initiated coverage of Novavax with an Underperform rating and a price target of $35.

Benzinga

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.

Benzinga

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.

Benzinga

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.

Benzinga

Why Nio Stock Is Rising Today

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

Benzinga

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Benzinga

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.

Benzinga

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.

Benzinga

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.

Benzinga

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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Benzinga

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.

Benzinga

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.…

Benzinga

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.

Benzinga

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.

Benzinga

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.

Benzinga

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.

Benzinga

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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