Latest news with #Section25D
Engadget
20-05-2025
- Business
- Engadget
Solar trade association warns of 'devastating energy shortages' if incentives are cut
The Solar Energy Industries Association released an assessment of how the budget reconciliation bill currently under review in Congress would have a negative impact on the economy. The legislation cuts incentives around solar power investment and adoption, such as the Section 25D residential tax credit. The group's analysis found that the bill, as it stands, would lead to the loss of nearly 300,000 current and future jobs in the US. It also said removal of incentives could mean a loss of $220 billion in investment in the sector by 2030. It also pointed to a future energy shortage, claiming that solar was on course to be responsible for about 73 percent of the 206.5 GW of new energy capacity needed in the country by 2030. 'Passing this bill would create a catastrophic energy shortfall, cede AI and tech leadership to China, and damage some of the most vital sectors of the U.S. economy,' SEIA President and CEO Abigail Ross Hopper said. It's the type of reaction we expect to see when an industry is under threat from federal action. It's also the type of researched data that doesn't seem to have much influence on the current administration, particularly when it comes to the environment and sustainability.
Yahoo
13-05-2025
- Business
- Yahoo
Coinbase, Caterpillar upgraded: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The 5 Upgrades: Monness Crespi upgraded Coinbase (COIN) to Buy from Neutral with a $300 price target, telling investors that the company's Q2 guidance for $600M-$680M in subscription and services revenue now looks "increasingly conservative" considering the strength in underlying assets, especially Ethereum and Solana, during and following the fiscal Q2 period, which should boost blockchain rewards and custody line items. Baird upgraded Caterpillar (CAT) to Outperform from Neutral with a price target of $395, up from $309. Exiting Q1, a combination of lower-than-normal seasonal dealer inventory build, a much better than expected backlog, and stabilization in dealer retail sales all pointed to potential fundamental improvement into 2026 for Caterpillar, the firm tells investors in a research note. Wolfe Research upgraded First Solar (FSLR) to Outperform from Peer Perform with a $221 price target. The firm cites better clarity on 45X credits for the first time since election year politics started in early 2024 for the upgrade. Wolfe Research upgraded Insulet (PODD) to Outperform from Peer Perform with a $350 price target. Insulet is the "share-taking asset" in the pump space and still has "tons" of revenue and margin opportunity ahead, including a potential inflection from type 2 diabetes, the firm tells investors in a research note. Macquarie upgraded Peloton (PTON) to Outperform from Neutral with a price target of $10 following a transfer of coverage. The company reported another quarter ahead of guidance and expectations on sustained margin focus and better user numbers, the firm tells investors in a research note. Top 5 Downgrades: Leerink downgraded Johnson & Johnson (JNJ) to Market Perform from Outperform with a price target of $153, down from $169, after CMS issued draft guidance for 2028 IRA drug price controls that creates risk that hyaluronidase combination products may not be protected from IRA price negotiations for 13 years after combo approval. Leerink also downgraded Halozyme (HALO) to Underperform from Market Perform with a price target of $47, down from $63. Barclays double downgraded Enphase Energy (ENPH) to Underweight from Overweight with a price target of $40, down from $51. The firm says the possible repeal of Section 25D "has flown under the radar and is now taking a bite out of ENPH." BMO Capital also downgraded Enphase Energy to Underperform from Market Perform with a price target of $39, down from $46, following the release of the House Ways and Means Committee tax plan. HSBC downgraded Chevron (CVX) to Hold from Buy with a price target of $158, down from $176. The sharp fall in oil prices since early April has raised pressure on oil majors' financial frameworks, which were designed to work at $70 per barrel oil, the firm tells investors in a research note. Mizuho downgraded Murphy Oil (MUR) to Neutral from Outperform with a price target of $31, down from $32. Mizuho sees potential weakness for global oil prices but expects gas and refining fundamentals to improve over the next 12 months. Goldman Sachs downgraded Brown & Brown (BRO) to Neutral from Buy with a price target of $119, down from $126. The firm expects the company's organic growth to revert towards peer levels, which it believes could place some pressure on the stock's premium valuation multiple. Top 5 Initiations: Deutsche Bank initiated coverage of NetEase (NTES) with a Buy rating and $130 price target. The firm sees "substantial opportunities" for the online gaming sector via delivering a superior gaming experience and attracting higher spending among gamers. Raymond James initiated coverage of Super Micro (SMCI) with an Outperform rating and $41 price target. The company has emerged as a "market leader" in artificial intelligence-optimized infrastructure. Jefferies initiated coverage of Insmed (INSM) with a Buy rating and $105 price target. The company's "first-in-disease status," strong clinical profile, and enthusiasm among key opinion leaders should assure a rapid launch for its brensocatib drug, which is a "potential megablockbuster" bronchiectasis treatment, the firm tells investors in a research note. TD Cowen initiated coverage of Bright Minds (DRUG) with a Buy rating and no price target. The company's lead asset BMB-101 is a biased 5-HT2C agonist that has the potential to be best in class for the treatment of certain refractory seizure disorders, the firm tells investors in a research note. BofA initiated coverage of Calumet (CLMT) with a Buy rating and $15 price target. The company is progressing its biofuel business Montana Renewables' MaxSAF project to expand renewable jet fuel capacity, notes the firm, which expects MaxSAF to roughly double EBITDA between 2025 and 2027.
Yahoo
13-05-2025
- Business
- Yahoo
Bernstein says market overreacting to Trump order, sees limited new impact on PBMs
-- Bernstein analysts say the market has overreacted to President Trump's latest executive order on drug pricing, arguing that the directive poses limited new risks to pharmacy benefit managers (PBMs) despite a sharp selloff in the sector. In a note to clients, Bernstein wrote, 'We see the reaction to PBM stocks as off target,' after shares of CVS and Cigna (NYSE:CI) fell following Trump's announcement. The order, signed Monday, mandates that pharmaceutical companies offer U.S. patients the lowest prices available in 'Most Favored Nation' countries, with price targets to be set by the Department of Health and Human Services within 30 days. At a press conference, Trump said the goal is to 'bring down the prices by 59% to 90%' and threatened to bypass pharmaceutical companies that don't comply: 'Big Pharma will either abide by this principle voluntarily or we will use the power of the federal government.' While Trump also promised to 'cut out the middlemen' by allowing direct sales of drugs at reduced prices, Bernstein noted this development is 'already happening in limited circumstances (e.g. LillyDirect)' and is not a 'meaningful change to outlook for drug stores or PBMs.' Bernstein emphasized that the order marks a shift in political focus back toward pharmaceutical companies after PBMs had been in the spotlight. 'This exec order is focuses on the America First aspect of drug pricing,' they wrote, adding that any major impact would likely require legislation, as executive action alone may face legal challenges. Although PBM revenue streams could be affected by potential list price reductions, Bernstein concluded, 'We do not see this order as a new impact to PBMs.' Related articles Bernstein says market overreacting to Trump order, sees limited new impact on PBMs Enphase Energy double-downgraded by Barclays on possible Section 25D repeal Raymond James initiates SMCI coverage with outperform rating on AI tailwinds Sign in to access your portfolio
