Market correction would be healthy, says Wells Fargo's Scott Wren
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Yahoo
4 hours ago
- Yahoo
Wells Fargo Upgrades Incyte Corporation (INCY) to Overweight From Equal Weight
Incyte Corporation (NASDAQ:INCY) is one of the top most undervalued biotech stocks to buy now. Wells Fargo upgraded Incyte Corporation (NASDAQ:INCY) to Overweight from Equal Weight on August 6, raising the price target to $89 from $67. A small team of scientists in a lab, discovering new therapies to treat oncogenic drivers. The firm told investors in a research note that it believes Incyte Corporation's (NASDAQ:INCY) Phase 1 update for myelofibrosis in Q4 would be positive. It expects the potential for research and development 'rationalization' along with future business development to provide upside for the stock. The firm also believes Incyte Corporation (NASDAQ:INCY) can address its Jakafi loss of exclusivity. Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company that discovers, develops, and commercializes proprietary therapeutics, focusing on oncology, hematology, inflammation, and autoimmunity therapeutic areas. While we acknowledge the potential of INCY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 hours ago
- Yahoo
What's the going rate for an allowance? How much money to give your kids
Thanks to inflation, largely gone are the days where kids could wander down to the penny candy store to buy themselves a cheap treat. So, how much money should you now give your children in an allowance? A Wells Fargo study released July 2 found that 71% of parents with children ages 5-17 give them an average weekly allowance of $37. The study also looked at how allowances are distributed and how parents feel about teaching their kids about money. The study was conducted online between April 28 and May 8, 2025, with data collection provided by Ipsos. It surveyed 1,587 U.S. parents aged 18 and older with at least one child between 5 and 17 years of age in the household. The study has a 'credibility interval' of +/- 3%. How do parents give an allowance? The study found that 73% of parents who provide a weekly allowance use cash. Another 24% of parents use a peer-to-peer payment method, such as Zelle or Apple Pay. Others use direct deposit to a bank account or pre-paid debit cards. 'The most surprising result of this study is how much cash is being used, even as parents understand their children prefer digital payment options,' Louann Millar, leader of youth and student banking at Wells Fargo, said in a press release. 'Children today have different financial experiences than their parents did.' Does giving an allowance teach children about money? The survey found that 51% of parents struggle to teach their children about money, with 32% feeling "uncomfortable" talking with their kids about money. Overall, 85% of parents believe that giving their kids an allowance helps them learn about spending, but 65% find it difficult to step back and let kids make their own money mistakes, according to the survey. Millar said that an allowance can be a useful tool to teach children about needs versus wants, money habits and prioritization. 'An allowance is a vehicle that enables children to learn about money with guardrails,' Millar said. "Whether you're giving your child $5 or $35 a week, the payment opens the door to a financial conversation. " This article originally appeared on The Providence Journal: How much allowance should I give my kid? Study shows the average Solve the daily Crossword
Business Insider
11 hours ago
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Wells Fargo Lifts Nvidia Price Target to $220 on China AI Chip Deal
Nvidia Corp (NVDA) could see more gains in the months ahead, according to a new note from Wells Fargo's top analyst, Aaron Rakers. The bank raised its price target on the stock to $220 from $185 and kept its overweight rating. The latest target points to about 20% potential upside from Friday's close. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Nvidia shares have climbed over 48% over the past three months and are up 36% since the start of the year, with the much-anticipated Q2 2026 earnings call expected on August 27. China Deal and Global Trade Trends Signal Revenue Boost The move comes after the Financial Times reported that Nvidia and Advanced Micro Devices (AMD) reached an agreement with the U.S. government. The deal will allow both companies to resume selling certain artificial intelligence chips in China in exchange for giving the government 15% of the revenue from those sales. For Nvidia, the chips in focus are its H20 models, while for AMD, the models are MI308 chips. Rakers said the new arrangement could help Nvidia recover the full $8 billion in quarterly revenue that was at risk from the earlier China restrictions. The analyst expects this recovery to be complete by the company's fiscal fourth quarter in January 2026. He also sees demand from China growing further after that point. In addition, Rakers pointed to recent trade data that supports a stronger outlook for the sector. U.S. imports of automated data processing machines rose in June, while Taiwanese exports of the same category rose in July. These trends often align with higher demand for servers and related technology used in artificial intelligence. To conclude, Wells Fargo believes the combination of renewed China sales and strong global demand could help push the stock toward its higher target. Meanwhile, Bernstein's five-star analyst Stacy Rasgon maintained a Buy rating on Nvidia today and set a price target of $185.00. Is NVDA Stock a Buy? average NVDA stock price target of $186.24. This implies a 1.94% upside from the current price.
