(This is CNBC Pro’s live coverage of Thursday’s analyst call and Wall Street chatter. Please refresh every 20-30 minutes to see the latest posts.) Stocks analysts talked about Thursday include a chipmaker and a Brazilian oil company Giant. Micron Technology issued revenue guidance that was in line with expectations, sending its shares lower in premarket. Several analysts reacted to the company’s forecasts and latest quarterly numbers. Meanwhile, Bank of America upgraded Petrobras shares to buy. See the latest calls and chats below. All times are Eastern Time. 6:35 a.m.: TD Cowen raises Grindr price target TD Cowen is optimistic about Grindr after the company raised its 2024 revenue guidance during its analyst day. “Key medium-term growth drivers include core product improvements, advertising growth and international focus, while alternative use case offerings are likely to drive growth,” said analyst John Blackledge. “We upgrade our ’25-27 forecasts earnings and EBITDA to reflect a better-than-expected outlook.” The analyst reiterated his buy rating on the online dating stock and raised his price target to $14 per share from $12. TD Cowen’s forecast implies an increase of more than 18% from Wednesday’s closing price of $11.82. Grindr stock has risen nearly 35% in 2024. Profitability and its control over expenses can fuel stock market gains, according to Keefe, Bruyette & Woods. The firm upgraded the bank stock to outperform from market perform and raised its target price to $70 per share from $60. KBW’s new forecast suggests upside of more than 19%. “Bank of New York is a high-quality franchise company with attractive returns. Our expectations remain for earnings growth despite further investments in improving long-term efficiencies,” analyst David Conrad ( David Konrad) said. “Resulting superior operating leverage to peers is a meaningful positive catalyst that should differentiate BK’s stock performance from peers as the return spread widens. Strong buybacks are expected to provide the stock with a Bottom line, limit downside risks,” he added. Shares of BNY Mellon are up about 13% in 2024. Stick with Micron Technology even after the company’s fourth-quarter revenue guidance was bleak. The in-line forecast appeared to mask a better-than-expected third quarter, with Micron Technology beating both revenue and profit estimates. Micron Technology shares fell 5% before the market opened. “We believe MU stock is selling off due to conservative guidance and higher capex, and we will buy MU on DRAM weakness [dynamic random access memory] Citi analyst Christopher Danely said: “The economic turnaround thesis remains intact, and we expect sequential increases in revenue, earnings per share and gross margin through C25.” The analyst reiterated a buy rating on Micron stock with a target price of At $175 a share, that represents a nearly 23% upside from Wednesday’s price. Goldman Sachs analyst Toshiya Hari also reiterated a buy rating after Micron’s results, raising his price target to 11% from $138. Analysts noted that the stock’s pullback could present a buying opportunity for investors. core data center but ultimately growing at the edge, b) Micron’s lucrative high-bandwidth memory market, and c) supply-side discipline from Micron and its peers, driving positive EPS revisions in year-end 2024 and 2025, Hari said. .Trough of memory cycle and sees room for potential upside from high market share – Brian Evans 5:45 AM: Bank of America upgrades Petrobras, according to Bank of America. , now is the time to buy Petrobras shares. Analyst Caio Ribeiro upgraded the Brazilian oil giant to “buy” from “neutral.” He also raised his price target on the U.S.-listed stock to $17.90 from $16.80. The new forecast implies a 25% rise. “As the dust settles on the company’s CEO replacement, the PBR has made important developments that will help calm concerns about corporate governance, fuel pricing, dividends and more,” Ribeiro wrote. Those developments include a federal tax court case The dispute was resolved on “very favorable terms and upholding the company’s fuel pricing policy”. Ribeiro also expects cash returns to remain attractive this year without a “significant increase” in capital expenditures. U.S.-listed Petrobras shares have underperformed this year, falling 11%. The stock is also currently trading 20% below its 52-week high set in February. PBR YTD Mountain PBR Year to Date—Fred Imbert
