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The Latest Breaking News from BofA Securities

Tesla's Global Market Share Is Up 140% In 2022: Where Do Other Automakers Stand?

Global auto sales are recovering from the trough seen in September 2021, and the industry has thrown up some winners and some laggards, according to an analyst at BofA Securities.

Benzinga

'No Idea Why Dogecoin Market Is $36B:' BofA Analyst Slams Meme Coin, Says It Has No Use Case

BofA Securities head of cryptocurrency and digital assets Alkesh Shah said he has “no idea” why Dogecoin (CRYPTO: DOGE) has a market value of $36 billion.

Benzinga

BofA Raises Oil Refiner Price Targets, Names 6 Top Stock

U.S. refiners are enjoying a relative advantage that could last longer than the “Golden Age” in the mid-2000s, according to BofA Securities.

Benzinga

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BofA: 3 Upgrades, 3 Downgrades On New Set Of Global Challenges

Corporates are facing new challenges, including the Russia-Ukraine war, COVID outbreaks in China, rising energy prices, interest rate hikes, and new supply chain disruptions, some of which could materialize into new headwinds, according to BofA Securities. The Chemicals Analyst: Steve Byrne upgraded three stocks and downgraded three others.

Benzinga

Why Does BofA Analyst Like Deutsche Bank Stock?

Deutsche Bank AG (NYSE: DB) is poised to benefit from interest rate hikes and market volume growth, according to BofA Securities.

Benzinga

StoneCo Stock Is Spiking Despite Q4 Earnings: What Does This BofA Analyst Think?

Although StoneCo Ltd (NASDAQ: STNE) reported its non-GAAP net income 48% below Street expectations, its operating trends reflected better revenue generation on robust TPV growth, take rate expansion and lower administrative expenses, according to BofA Securities.

Benzinga

Why BofA Bullish Is On Aluminum, Reinstating Buy Rating For Alcoa

Alcoa Corp (NYSE: AA) aims to become first quartile in aluminum by 2024, while the sentiment is bullish for aluminum due to capped Chinese supply, potential risks on Russia’s supply and Europe facing supply headwinds due to high energy costs, according to BofA Securities.

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BofA Upgrades Ascendis Pharma After Promising TCP Phase 3 Data

Following Ascendis Pharma’s (NASDAQ: ASND) reporting of positive topline Phase III data for its PaTHway trial of TransCon PTH (TCP) in adults with hypoparathyroidism, the likelihood of success of its TCP has increased from 60% to 75%, according to BofA Securities.

Benzinga

BofA Downgrades PayPal, DXC Technology, Upgrades 2 Other Payment Stocks: What Investors Need To Know

While there is heightened geopolitical risk and macro uncertainty, the U.S. labor market remains solid, according to BofA Securities, which made rating changes to four stocks in the payments sector Wednesday. The Payments Analyst: In separate reports, analyst Jason Kupferberg changed the ratings and price targets for four payment stocks.

Benzinga

BofA Names Top 5 European Energy Stocks To Buy During Oil Shock

There seems to be more runway for big oils and the geopolitical disruption scenarios seem underpriced, according to BofA Securities. The European Oil & Gas Outlook: Analyst Christopher Kuplent named Shell and TotalEnergies as the Big Oil top picks and changed the target prices for:

Benzinga

Which 6 Defense Stocks Did A BofA Analyst Raise The Price Targets?

Against the backdrop of the Russia-Ukraine conflict, the U.S. defense budget could increase to 3.5% to 4% of GDP, according to BofA Securities. The Defense Analyst: Ronald Epstein reiterated the ratings for defense stocks while raising their price targets.

Benzinga

BofA Downgrades Natural Gas and Electric Power Company UGI On Heightened Risks

UGI Corp (NYSE: UGI) faces heightened risks due to the increased volatility in commodity markets resulting from the Ukraine-Russia conflict, according to BofA Securities.

Benzinga

Why BofA Cuts Citigroup Price Target After Investor Day

Citigroup Inc’s (NYSE: C) management presented a “realistic set of financial goals” during the investor day event, according to BofA Securities.

Benzinga

Kinross Gold Suspends Russia Operations

Kinross Gold Corporation (NYSE: KGC) announced Wednesday plans to suspend operations at its Kupol mine in Russia. The company is also in the process of suspending all activities at its Udinsk development project in the country, according to BofA Securities.

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Why BofA Downgrades SoFi Technologies, Despite Upbeat Q4

SoFi Technologies Inc (NASDAQ: SOFI) reported strong fourth-quarter results after the closing bell on Tuesday. The company has also issued its 2022 guidance ahead of Street expectations, driven by “benefits from its recently approved Bank Charter,” according to BofA Securities.

Benzinga

BofA Initiates Arcellx With Buy On Its Novel Therapy Approach

Arcellx (NASDAQ: ACLX) is advancing into pivotal testing (by year-end 2022) of its B-cell maturation antigen (BCMA) directed combination antiretroviral therapy (CART), known as ddBCMA, for relapsed refractory multiple myeloma, according to BofA Securities.

Benzinga

BofA On Lucid Earnings, Lowered Outlook Is 'Somewhat Surprising In Magnitude'

Lucid Group Inc (NASDAQ: LCID) reported its fourth-quarter results marginally ahead of expectations on lower operating expenditures, according to BofA Securities.

Benzinga

BofA Upgrades Homebuilders Toll Bros, PulteGroup; Stocks Are Already Pricing In Mortgage Rate Spike

Home builders have underperformed, despite posting strong quarterly earnings and issuing robust guidance for 2022, according to BofA Securities.

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Why This Analyst Believes In Credo Technology

Credo Technology Group Holding Ltd (NASDAQ: CRDO) is an emerging cloud networking specialist that estimates its addressable market to grow at a compounded annual growth rate (CAGRA) of nearly 49%, according to BofA Securities.

Benzinga

Why BofA Loves This Digital Advertising Platform Company

Although AdTheorent Holding Company Inc (NASDAQ: ADTH) is a smaller player in the competitive digital advertising space, there is long-term opportunity as its target addressable market is expected to grow more than 20% for the next several years, according to BofA Securities.

Benzinga

BofA Downgrades Core & Main On What Near-Term Headwinds?

Core & Main Inc (NYSE: CNM) is likely to be impacted by a minimal increase in spending in 2022 with delays in project starts, according to BofA Securities.

Benzinga

Why BofA Upgrades Lending Platform Upstart Holdings After Q4 Report

Upstart Holdings Inc (NASDAQ: UPST) was able to beat fourth-quarter expectations despite industry headwinds, according to BofA Securities.

Benzinga

BofA Downgrades ViacomCBS After Streaming Investments: What Investors Need To Know

Although ViacomCBS Inc (NASDAQ: VIAC) remains an attractive target amid industry consolidation, a sale of the company is unlikely in the near term given its streaming aspirations, according to BofA Securities.

Benzinga

BofA Maintains Underperform Rating As Virgin Galactic Begins Selling Space Flight Tickets

Virgin Galactic Holdings Inc (NYSE: SPCE) has announced the opening of space flight ticket sales to the public on Feb. 16. Reservations are being offered at $450,000, with an initial deposit of $150,000, according to BofA Securities.

Benzinga

BofA Downgrades Gap On Old Navy Concerns

Old Navy, which contributes to around 55% of Gap Inc’s (NYSE: GPS) sales, is likely to be “disproportionately hurt” by its exposure to low-income consumers and worsening supply chain disruptions, according to BofA Securities.

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