The Latest Breaking News from Citi

Citi analyst Christian Wetherbee is "constructive" on GXO Logistics Inc's (NYSE:GXO) purchase of Clipper Logistics in a deal valued at $1.3 billion, split between cash and stock. Wetherbee maintained a Buy rating on the shares with a price target of $110. The analyst likes the "high-growth nature" of Clipper's business, saying it is underpinned by…

Citi analyst Andrew Gardiner downgraded Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) to Neutral from Buy, calling the company "uninvestable." The re-rating followed the report of alleged "tens of millions of dollars in suspicious payments" by the telecom company to ISIS over nearly a decade to keep its business in Iraq. Related Content:…

Analysts raised their price targets on Palo Alto Networks Inc (NASDAQ:PANW) following Q2 results. JPMorgan analyst Sterling Auty upgraded Palo to Neutral from Underweight with a PT of $620, up from $600 (30.4% upside).  Palo Alto is one of the cybersecurity companies well-positioned to compete for the cloud security opportunity, Auty said. The analyst says the…

Analysts updated the price target for Generac Holdings Inc. (NYSE:GNRC) post Q4 results. Canaccord analyst Jed Dorsheimer lowered the price target to $556 from $575 and maintained a Buy rating on the shares. The analyst believes margin pressures from the supply chain, logistics, and inflation will peak in 1Q22 and subsequently succumb to the power…

Citi analyst Jason Bazinet lowered the firm's price target on The Walt Disney Co (NYSE:DIS) to $200 from $210 and reiterated a Buy rating on the shares. The price target implies an upside of 30%. Related Content: Here's Why Barron's Is Bullish On Disney Post Q1 The company posted strong fiscal Q1 results driven by better than expected…

Analysts had mixed views on Intel Corp (NASDAQ:INTC) after yesterday's reports about Intel nearing a deal to acquire Tower Semiconductor Ltd (NASDAQ:TSEM) for $6 billion.  Northland analyst Gus Richard said such a deal would "make a lot of sense" and be a good one for Intel shareholders based on his estimate that it would cost $13…

Citibank forecasts global GDP growth to decelerate to 3.8% this year as the world economy enters a slowdown amid growing inflation and imminent interest rate hikes, though it remains optimistic about the growth of cyclical industries with long-term growth.

Citi analyst Atif Malik reiterated a Buy rating on Nvidia Corp (NASDAQ:NVDA) with a $350 price target. The price target implies an upside of 41.5%. The re-rating follows Nvidia's termination of the planned acquisition of SoftBank Group Corp's (OTC:SFTBY) (OTC:SFTBF) ARM Ltd due to significant regulatory challenges to closing the deal.  The Street largely expected that the…

On February 4, Alibaba Group Holding Ltd (NYSE: BABA) filed a Form F-6 to register 1B American depository shares to accommodate the issuance of additional ADS upon the deposit of ordinary shares by current holders who have indicated to the company.