Rocket Pharmaceuticals downgraded to Equal Weight from Overweight at Morgan Stanley
Confident Investing Starts Here:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 hours ago
- Yahoo
Amazon (AMZN) Ups the Game With Grocery Expansion, Morgan Stanley Sticks to Buy Call
Inc. (NASDAQ:AMZN) is one of the best big tech stocks to buy right now. On Thursday, August 14, Morgan Stanley's Brian Nowak reiterated his Buy rating on Amazon, keeping a $300 price target, citing the company's push deeper into the grocery business as a key growth driver. Amazon recently expanded its grocery offerings on to include more fresh and perishable items and lowered delivery fees for Prime members. Nowak sees these steps as positioning the company to tap into the $1.5 trillion offline grocery market. A grocery store employee stocking shelves with fresh fruits and vegetables. The company, a day ago, announced that Prime members in over 1,000 cities and towns can now get fresh groceries with free same-day delivery on orders above $25, with coverage expected to expand to more than 2,300 locations by the end of 2025. In 2024, Amazon recorded over $100 billion in grocery and household essentials sales, excluding Whole Foods Market and Amazon Fresh. The analyst believes that Amazon can use its scale, expansive logistics network, and data-driven operations to gain an edge over its competitors. In addition, it can combine a broader grocery selection with competitive prices and faster delivery, which can help the company to capture more market share in the category. Nowak views this initiative as a meaningful contributor to Amazon's long-term revenue trajectory, reinforcing the case for the stock at current levels. Inc. (NASDAQ:AMZN) operates across e-commerce, digital content, advertising, and cloud computing. Its online and offline stores offer both in-house and third-party products, while its Amazon Web Services (AWS) division runs one of the world's largest data center networks. While we acknowledge the potential of AMZN 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: 13 Best Defensive Stocks to Invest in According to Analysts and 10 Best Large Cap Tech Stocks to Buy 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
Business Upturn
6 hours ago
- Business Upturn
Stocks to watch on August 18: M&M, Ashok Leyland, Tata Chemicals, HDFC Bank, BPCL, Max Healthcare and more
Brokerage houses have released fresh updates and recommendations on key Indian stocks and sectors, which are likely to drive trading action today. Here are the highlights from fund house recommendations. Nomura has maintained a buy rating on Mahindra & Mahindra (M&M) with a target price of ₹3,736 per share, citing strong positioning in the SUV segment. On Ashok Leyland, BofA, Avendus and Motilal Oswal (MOSL) all maintained their buy calls with target prices of ₹146, ₹140, and ₹141 respectively, indicating continued optimism around the commercial vehicle cycle. Jefferies was more conservative, keeping a buy call but with a lower target price of ₹120, reflecting near-term constraints. Morgan Stanley (MS) retained an overweight stance on Tata Chemicals with a target price of ₹1,127, expecting the company to benefit from structural demand drivers. Jefferies reiterated its buy ratings on Aditya Birla Fashion & Retail (target ₹100), HDFC Bank (₹2,400), HDB Financial (₹900), BPCL (raised target ₹410), and Max Healthcare (₹1,500). It also maintained an underperform on Anupam Rasayan despite raising the target price to ₹625. In the financial space, Citi reiterated its buy on Shriram Finance with a target price of ₹750. On the macro front, the India ratings upgrade drew commentary from multiple brokerages. JP Morgan called it 'unambiguously positive' and a likely sentiment booster. Kotak Securities noted that the upgrade reflected fiscal consolidation and growth, though future improvements hinge on state finances. Citi said the earlier-than-expected move may not immediately trigger debt inflows, while UBS highlighted that it takes India one step above the lowest investment-grade and could benefit state-owned enterprises. On GST rate rationalisation, Jefferies expects the government to act in Q4CY25, noting $20 billion in savings from GST compensation provides the fiscal room. It said rate cuts may benefit cement, two-wheelers, consumer durables, insurance, garments, footwear, and passenger vehicles. Kotak estimated the move could deliver a ₹2.4 trillion demand boost, largely aiding autos and durables, while Citi said autos, consumer discretionary, staples, insurance and cement could see the highest impacts. Morgan Stanley added that autos remain key as they account for 14% of GST collections, with Hero, Eicher, Maruti and M&M positioned as beneficiaries. On Indian equities overall, Jefferies called India the best long-term structural story in Asia, while Morgan Stanley noted that thawing India-China ties could revive investments and supply chains. In other stock-specific views, UBS maintained a neutral on Vodafone Idea with a target of ₹8.5, while Citi kept a buy call at ₹10. UBS also maintained a neutral on Angel One (TP ₹2,935). MOSL retained a sell rating on Deepak Nitrite with a cut target of ₹1,630. With strong endorsements for autos, chemicals, financials and healthcare, along with optimism on GST reforms and the sovereign rating outlook, today's trading session is expected to see concentrated action in these names. Disclaimer: The brokerage views and target prices mentioned in this article are sourced directly from fund house and analyst reports. They are presented here for informational and news purposes only. Business Upturn does not provide investment advice or stock recommendations. Readers are advised to consult certified financial advisors before making any investment decisions. Ahmedabad Plane Crash News desk at
Yahoo
9 hours ago
- Yahoo
Klook taps banks for US IPO, sources say
By Echo Wang and Julie Zhu NEW YORK (Reuters) -Klook, a travel booking services company, has hired investment banks to help arrange a potential initial public offering in the U.S., according to two people with knowledge of the matter. The Hong Kong-based company, backed by investors including SoftBank Group and Goldman Sachs Group, is working with bankers at Goldman, Morgan Stanley and JPMorgan on the planned first-time share sale, said the people, asking not to be identified as the process is private. The deal could come as early as this year and raise around $500 million, they said, cautioning that the timing and deal size are subject to market conditions. U.S. IPO activity has gained momentum, bolstered by strong tech earnings and signs of progress in trade negotiations that have restored investor confidence. Recent listings, including cryptocurrency exchange operator Bullish, and design software company Figma, underscore the uptick in market debuts, reversing a period in the year when uncertainty over President Donald Trump's tariff policies weighed on new offerings. Klook, Goldman Sachs and JPMorgan declined to comment. Morgan Stanley did not respond to a request for comment. It was not immediately clear whether Klook will be selling a stake in the IPO, or whether it will be an investor sell-down or a combination of both. Bloomberg News reported earlier the company was exploring a U.S. IPO. Founded in 2014, Klook turned profitable in 2023. It provides various booking services to travelers across a range of locations globally and competes with other global travel booking sites such as and TripAdvisor, as well as China's and South Korea's Yanolja. The company said in February it had raised $100 million in a funding round led by European investment firm Vitruvian Partners, but did not disclose its valuation at the time. Other investors in Klook include HSG, formerly known as Sequoia Capital China. 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
