This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEE8G0G4_M.jpg
Axalta Coating Systems (NYSE:AXTA) shares rose more than 2% intra-day today after the stock was upgraded to Buy at Deutsche Bank and Citi.
Deutsche Bank raised its price target to $40 from $25, telling investors the company’s valuation discount is no longer warranted.
Citi lifted its price target on the stock to $35.19 from $30.29, noting that the upgrade follows the company’s solid Q4 report on Wednesday and its view that there is further upside ahead.
The company reported Q4 EPS of $0.38, better than the consensus of $0.35, and revenue of $1.24 billion, compared to the consensus of $1.22B.
Roth Capital upgraded Shopify (NYSE:SHOP) to Buy from Neutral with a price target of $56.00 based on more favorable comps and the company’s recent pricing tier changes.
Shopify announced last week that its Basic plan will now cost $39 a month from $29, its Shopify plan will increase to $105 from $79, and its Advanced plan will rise to $399 from $299.
“After more than tripling sales in just three years, we still project double-digit growth this year, and with its new pricing tiers, that figure could approach 20%,” the firm added.
Despite the upgrade, shares dropped around 5% intra-day today.
Berenberg upgraded Tesla (NASDAQ:TSLA) to Buy from Hold while cutting its price target to $200.00 from $255.00, despite seeing a “softer demand picture” in 2023 facing the global auto manufacturers.
While Tesla shares moved lower in the closing months of 2022 on several catalysts, including price cuts, Berenberg said such moves are “an investment in growth.”
Berenberg sees Tesla taking a market share at a gross margin that exceeds 25%. Moreover, analysts are more positive about valuation after shares lost roughly 65% in 2022 while Tesla’s upcoming Investor Day (March 01) offers a “near-term catalyst potential.”
Shares were down more than 5% intra-day today.
Stifel upgraded Okta, Inc (NASDAQ:OKTA) to Buy from Hold and raised its price target to $90.00 from $60.00 after surveying 37 current customers.
“Overall, survey results reveal generally happy customers who support Okta’s broader identity swim-lane convergence strategy and are interested in Okta’s emerging IGA/PAM opportunities,” the firm said.
Shares fell more than 2% intra-day today.
Want to get this news first? Upgrade to InvestingPro for real-time market coverage.
