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Deutsche Bank upgraded Coherent (COHR) to Buy from Hold and raised its price target to $50.00 from $45.00, noting it believes some of the growth drivers in Comms, silicon carbide (SiC), sensing, semicap and display are underappreciated by investors, which will likely more than offset risks associated with the rest of business.
Wells Fargo upgraded Activision Blizzard (ATVI) to Overweight from Equal Weight with a price target of $95.00, noting it believes the market is undervaluing the company relative to both outcomes of MSFT/ATVI acquisition (deal or no deal). Shares were up more than 2% intra-day today.
Evercore ISI upgraded StoneCo Ltd. (STNE) to Outperform from In Line and raised its price target to $16.00 from $10.00, estimating a solid 500 bps of Adjusted EBT margin expansion in 2023 amidst several secular, cyclical and idiosyncratic tailwinds. Furthermore, the analysts expect the company’s revenue growth to benefit from rising digitization of payments, higher take rates, elevated growth in banking and software, and cross-selling supporting margin expansion in 2023.
Citi upgraded Live Nation Entertainment (LYV) to Buy from Neutral, lowering its price target to $82 from $90 on a 'more reasonable' risk-reward.
By Davit Kirakosyan
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