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The Latest Breaking News from BofA

Yes, a recession looks inevitable. But it may not be that bad. Here’s why

WASHINGTON — Whether it’s President Joe Biden insisting a recession is avoidable or his critics arguing that the wolf is at the door, both sides are acting as though the nation faces an unprecedented catastrophe.

Los Angeles Times

Why Palantir Technologies Stock Is Rising

Why Palantir Technologies Stock Is Rising

Palantir Technologies Inc (NYSE: PLTR) shares are trading higher Tuesday following bullish analyst coverage from BofA Securities.

Why BofA Downgrades Homebuilders Owens Corning, Dream Finders Homes

Why BofA Downgrades Homebuilders Owens Corning, Dream Finders Homes

New home demand has deteriorated over the past few weeks due to the spike in mortgage rates, a sharp decline in consumer confidence and the weaker economic growth outlook, according to BofA Securities. BofA On Owens Corning

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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.

BofA Picks Nvidia As Top Pick; Expresses Bullishness On Marvell, AMD, ON Semiconductor

BofA analyst Vivek Arya believes chipmaker Nvidia Corp (NASDAQ: NVDA) could benefit from growth in several areas. Arya chose Nvidia as his top large-cap sector pick.

Russian export squeeze 'could push oil past $150'

The price of the global benchmark Brent crude could rise past $150 a barrel if there is a sharp contraction in Russian oil exports, Bank of America (BofA) Global Research said on Friday.

Here's How Apple Defended Its App Store Policies

Apple Inc (NASDAQ:AAPL), facing mounting criticism of its App Store policies, has defended the platform citing the small-business jobs and revenue it generates, Bloomberg reports. The App Store is under intense scrutiny from government officials in the U.S. and Europe, which also have been after Meta Platforms Inc (NASDAQ:FB) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). Also Read: BofA Lists Reasons…

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BofA Lists Reasons For Its Bullishness On Apple

BofA Lists Reasons For Its Bullishness On Apple

BofA analyst Wamsi Mohan noted that Apple Inc's (NASDAQ: AAPL) App Store revenue growth in fiscal Q3-to-date has grown to $2.6 billion, or up 7% year-over-year through April 30, according to SensorTower data.

BofA Downgrades Ginkgo Bioworks, Cuts Price Target In Half

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.

Teva Pharmaceutical Shares Real-World Data Of ProAir Digihaler In Asthma Patients

Teva Pharmaceutical Shares Real-World Data Of ProAir Digihaler In Asthma Patients

Teva Pharmaceutical Industries Ltd (NYSE:TEVA) announced new study findings based on newly established clinical thresholds on short-acting beta-agonist (SABA) use and real-world usage of ProAir Digihaler (albuterol sulfate) inhalation powder. ProAir Digihaler is a breath-actuated, digital SABA inhaler with built-in flow sensors that detect, record, and store objective data. 89% (319/359) of patients…

BofA Turns Bullish On Sprouts Farmers Market - Read Why

BofA Turns Bullish On Sprouts Farmers Market - Read Why

BofA analyst Robert Ohmes has double upgraded Sprouts Farmers Market Inc (NASDAQ:SFM) to Buy from Underperform. Ohmes also raised the price target to $40 from $21 (33% upside). The analyst expects the compounding effect of food inflation to back Sprouts Farmers Market's price acceleration, resulting in substantial potential for EPS upside. Ohmes views SFM's current…

BofA's Key Takeaways From Coca-Cola Earnings

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.

Bank Of America Investors Give Thumbs-Up To Q1 Earnings: What The Chart Shows

Bank Of America Investors Give Thumbs-Up To Q1 Earnings: What The Chart Shows

Despite the prospect of rising interest rates, the financial sector has been under extreme selling pressure since early January. It's been a mixed bag for first-quarter earnings for the big banks so far, with assorted beats and misses and inconsistent price action.

BofA Downgrades Pactiv Evergreen, O-I Glass - Read Why

BofA Downgrades Pactiv Evergreen, O-I Glass - Read Why

BofA analyst George Staphos downgraded Pactiv Evergreen Inc (NASDAQ:PTVE) to Neutral from Buy with a price target of $13 (29.6% upside). The analyst also downgraded O-I Glass Inc (NYSE:OI) to Neutral from Buy with a price target of $14 (7% upside). Staphos foresees a chance for macroeconomic trends to decelerate. He lowered his ratings on both the companies as…

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Another Analyst Sets Bullish Tone On NVIDIA, Sees Considerable Upside

New Street analyst Pierre Ferragu upgraded NVIDIA Corp (NASDAQ:NVDA) to Buy from Neutral with a price target of $280 (30.2% upside). Ferragu saw an attractive valuation, greater visibility on the "crypto-winter risk," and the company's robust data center outlook. Ethereum's hash rate quadrupled between October 2020 and January 2022, likely boosting Nvidia's FY22 gaming revenues…

Here's Why BofA Views Nvidia As Leading Growth Company In Semis

BofA analyst Vivek Arya reiterated a Buy rating and a $375 price target (71.1% upside) on NVIDIA Corp (NASDAQ:NVDA) and a Top Pick designation. Arya saw the Baird downgrade-related selloff as likely done. Truist also slashed the price targets on the chipmakers. Arya acknowledged that Nvidia's gaming business was vulnerable to weaker demand from Europe due to the Russia-Ukraine…

Fund Managers Pessimistic Over Global Growth Expectation, Survey Suggests: Reuters

As per a monthly survey by investment bank BofA Securities, optimism among fund managers over global economic growth has hit an all-time low. Concerns regarding possible stagflation have risen to the highest since August 2008. In the survey, 71% of survey respondents were pessimistic regarding the expectations for global growth in…

5 Global Healthcare Stocks to Buy as BofA Warns of a "Recession Shock"

The healthcare industry is well-positioned to ride out a potential recessionary shock, thanks in-part to the inelastic demand for COVID-19 vaccines worldwide. Thus, we think investors could invest in fundamentally sound healthcare stocks Pfizer Inc. (PFE), Johnson & Johnson (JNJ), AbbVie Inc. (ABBV), Eli Lilly and Company (LLY), and Merck…

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Financial Times

‘Nowhere to hide’ for investors in market turbulence

Quarterly drop in bonds and stocks raises questions on how to balance risk in portfolios

BofA Turns Bullish On Kroger - Read Why

BofA analysts Robert Ohmes and Kendall Toscano upgraded Kroger Co (NYSE:KR) to Buy from Neutral with a price target of $75, up from $61, implying a 22% upside. The analysts noted that elevated food inflation should continue for at least the next six months. The analysts added that the price increases are passed on to…

Disney Parks Win Another Analyst's Confidence After Goldman Sachs, Wells Fargo, BofA

Morgan Stanley analyst Benjamin Swinburne has an Overweight rating and a $170 price target (28.3% upside) on The Walt Disney Co (NYSE:DIS). Swinburne saw Disney implementing Technology and operational tools in its parks that should drive structurally higher growth and incremental margins, and he raised his Parks estimates accordingly. Swinburne, who saw a multi-year period…

Loop Capital Remains Bullish On Disney Despite Slashing Price Target By 13%

Loop Capital analyst Alan Gould lowered the price target on The Walt Disney Co (NYSE:DIS) to $165 from $190 (19% upside) but kept a Buy rating on the shares. The analyst noted the performance of the company's Parks business is "more than a reopening play," boosting his operating income potential on the segment to over…

Analysts Raise Price Target On SunPower, Still See Downside

BofA analyst Julien Dumoulin-Smith upgraded SunPower Corp (NASDAQ:SPWR) to Neutral from Underperform with a price target of $23, up from $13 (3% downside). The re-rating followed the company's analyst day, which he said offered clarity on the growth trajectory. Given what he calls "admittedly a robust turnaround plan with specific steps," Dumoulin-Smith made "material" upward…

Disney's Park Segment Continue To Win Analyst Confidence

Goldman Sachs analyst Brett Feldman maintained a Buy rating on The Walt Disney Co (NYSE:DIS) after attending the company's Disney Parks Investor Experience at Walt Disney World in Orlando. Feldman's conviction in the firm's outlook has increased following the event. The analyst notes that the new reservation system and Genie app provide new insights with…

Here's Why BofA Remained Bullish On Apple

Some reports suggested Apple Inc (NASDAQ:AAPL) looked to slash iPhone and AirPods production over the Ukraine war and inflation, but analysts called it a rumor. However, BofA defended the tech giant, noting demand is "strong," citing lower trade-in prices for old iPhones. Apple lowered trade-in values for some iPhone models after the $429…

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