Welcome to the Extreme Investor Network, where we provide unique and valuable insights to help you make informed investment decisions. Today, we’re discussing some of the latest analyst calls and Wall Street chatter that could impact your investing strategy.
First up, Goldman Sachs upgraded Shopify to buy from neutral, citing a potential rebound of nearly 30% after a tough year-to-date. Analyst Gabriela Borges sees the recent dislocation in the stock as an entry point for traders to hold the leading software retail stock. Despite a 24% decline this year, Borges believes Shopify’s investments in areas like business-to-business and international could drive durable revenue growth at scale.
Moving on, Piper Sandler raised its rating on Kraft Heinz to overweight, with analyst Michael Lavery highlighting the company’s opportunity to accelerate momentum in the foodservice sector. Lavery believes the underperformance in Kraft Heinz has created a buying opportunity, with a $42 price target implying nearly 17% upside potential.
Meanwhile, Oppenheimer sees more room for Costco to run ahead of earnings, with analyst Rupesh Parikh reiterating his outperform rating and raising his price target to $850. Parikh expects a largely in-line earnings report but advises traders to look for opportunities to take profits. Potential catalysts for Costco include an increase in membership fees or a stock split, with the company outperforming other retailers and the broad market in 2024.
In contrast, Morgan Stanley downgraded Box to equal weight from overweight, citing a lack of near-term catalysts and prolonged macro challenges impacting the company’s seat-based model. Analyst Josh Baer believes there’s more upside potential in other software stocks within the coverage area, such as Docebo and Smartsheet.
These are just a few of the latest analyst calls and market trends that could impact your investment decisions. Stay tuned to Extreme Investor Network for more unique insights and valuable information to help you navigate the world of investing with confidence.