By Davit Kirakosyan
Investing.com -- Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades for Albemarle, Euronav, Arcturus Therapeutics, and Palo Alto Networks.
Albemarle shares gain on KeyBanc upgrade
KeyBanc upgraded Albemarle (NYSE: ALB ) to Overweight from Sector Weight with a price target of $270, as reported in real time on InvestingPro. The firm cited attractive valuation and improving risk-reward in lithium due to developments in China. As a result, shares gained more than 2% yesterday and are currently trading 1% higher in pre-market.
KeyBanc expects demand for lithium in China to improve after a downturn that started in November 2022, noting that its recent checks from the Li industry in China indicate that inventories at the battery cell/EV OEM level are declining, and could bottom out in the coming months.
Earlier this month, the company reported its Q1 results , beating EPS estimates while missing on revenues.
Euronav upgraded to Buy after Q1 beat
Deutsche Bank upgraded Euronav (NYSE: EURN ) to Buy from Hold with a price target of $20.00, noting there are some short-term macroeconomic and demand headwinds that still overhang the segment, but the medium-term outlook remains generally positive based on very constrained net fleet growth in the coming years.
Share gained more than 5% yesterday after the company reported better-than-expected Q1 earnings.
According to Deutsche Bank, the company is well-positioned to take advantage of an improving market.
2 more analyst picks
H.C. Wainwright upgraded Arcturus Therapeutics (NASDAQ: ARCT ) to Buy from Neutral with a price target of $51.00, noting that the company is poised to transform into a commercial-stage company given the expected ARCT-154 approval in Japan as COVID-19 vaccine and booster in 2023.
Shares surged more than 10% yesterday.
CapitalOne initiated coverage on Palo Alto Networks (NASDAQ: PANW ) with an Overweight rating.
The company is set to report its Q3/23 earnings on May 23.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.