Morgan Stanley analyst Brian Nowak raised the price target on Alphabet Inc. shares to $3,430 from $3,200 and reiterated an Overweight rating on the shares. The price target implies an upside of 25.8 percent. Nowak updated his models and rolled forward valuations among his Internet sector coverage. Heading into 2022, Nowak said he remains positive on Uber Technologies Inc., Meta Platforms…
Tesla Investors Urge Judge to Order Musk Repay $13 Billion for SolarCity Deal
WILMINGTON, Del—Tesla Inc shareholders urged a judge on Tuesday to find Elon Musk coerced the company’s board into a 2016 deal for SolarCity and asked that the chief executive be ordered to pay the electric vehicle company one of the largest judgments ever of $13 billion. “This case has always been about whether the acquisition…
Excited About Crypto? The Feds Are Too
January 18, 2022
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Commentary It all started with the “Genesis Block.” On Jan. 3, 2009, Satoshi Nakamoto mined the first “block” on a distributed network known as a blockchain—and suddenly bitcoin was born. Within two years, the nascent cryptocurrency had captured the imagination of the early adopter masses. And when the masses’ imaginations kick into high gear around…
Here’s Why Citi Bumped Up Price Target of This Top Chipmaker by 12%
Citi analyst Christopher Danely raised the firm’s price target on Intel Corp. to $58 from $52 and reiterated a Neutral rating on the shares. The price target implies an upside of 4.1 percent. The analyst’s channel checks indicate the recent surge in enterprise demand and notebook orders will drive upside to Intel’s Q4 and Q1 consensus estimates. He raised…
Read Why Deutsche Bank Remains Bullish on Apple; Bumps Up Price Target by 14%
Deutsche Bank analyst Sidney Ho raised the firm’s price target on Apple Inc. to $200 from $175 and reiterated a Buy rating on the shares. The price target implies an upside of 15.6 percent. Considering a “healthy demand backdrop” and Apple’s “strong” portfolio across its product lines, the Street estimate for 2022 revenue growth of only 5 percent is…
Here’s Why Piper Sandler Sees 34% Upside in This Streaming Giant
Piper Sandler analyst Thomas Champion reiterated an Overweight rating on Netflix Inc. with a $705 price target, implying an upside of 34.1 percent. Champion’s rating comes ahead of the company’s Q4 results on Thursday. The analyst remains constructive on the shares long-term, citing the structural opportunity in streaming video. The stock is down 10 percent in the last month…
Asking Prices for UK Homes Rise by Most Since 2016—Rightmove
LONDON—Asking prices for British homes rose by the most in annual terms in nearly six years in early 2022, according to a survey that showed how a severe shortage of properties for sale is keeping up the heat in the housing market. Property website Rightmove said on Monday that the average price of property put…
State Street Sets New Targets for Biggest Companies on Climate Change, Boardroom Diversity
January 17, 2022
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The world’s fourth-largest asset manager, State Street, is putting listed companies on notice to take more action on climate change and ensure more women are promoted to board positions. State Street Global Advisors (SSGA) controls around US$4 trillion in shares across significant companies in the United States, Australia, Canada, Europe, and the United Kingdom, and…
Sotheby’s to Accept Cryptocurrency Payments for Rare Black Diamond
The British auction house Sotheby’s announced that they will be accepting payment in Bitcoin, Ethereum, or U.S. dollars for a rare black diamond known as “The Enigma.” The 555.55-karat diamond is currently on show in Dubai, from whence it will travel to Los Angeles and London before going on a seven-day auction on Feb. 3….
Top Hedge Funds Earn Record $65.4 Billion for Clients in 2021: LCH Data
BOSTON—The world’s 20 best-performing hedge funds earned $65.4 billion for clients in 2021, setting a new record as stock markets marched higher despite rising prices and coronavirus cases, LCH Investments data show. As a group, the most successful managers earned more than one third of the $176 billion that all hedge funds made last year,…
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