(This is CNBC Pro’s live coverage of Monday’s analyst conference call and Wall Street chatter. Please refresh every 20-30 minutes to see the latest posts.) Two technology companies were among the names analysts talked about Monday. TD Cowen raised its price target on Apple stock to $250 ahead of its earnings release later this week. Meanwhile, Guggenheim upgraded Akamai Technologies to Neutral Buy. See the latest calls and chats below. All times are Eastern Time. 6:09 AM: Piper Sandler downgrades Charles Schwab A shift in Charles Schwab’s strategy could weigh on stock prices, according to Piper Sandler. The firm downgraded the bank and investment stock to neutral from overweight and lowered its price target to $64 per share from $80. Morley’s forecast would mean the stock price would fall about 4% from Friday’s closing price. Schwab announced a strategy shift earlier this month that includes shrinking the bank’s operations. The company also reported mixed quarterly results, with earnings per share beating expectations but net interest margin falling short of expectations. “While we disagree that a less capital-intensive model may be beneficial to SCHW in the long term (and may require a higher P/E ratio), it adds an element of near-term uncertainty that we believe will be Unresolved factors for the company’s stock: “The company is in the midst of a financial transition,” the analyst added, without providing details on the expected timing or financial impact of the move, which could significantly change what drives nearly half of the company’s revenue. Economic conditions.” Schwab’s stock price has fallen by more than 3% in 2024. That may be reflected according to TD Cowen. The company raised its price target to $250 per share from $220. TD Cowen’s forecast implies an increase of nearly 15% from Friday’s closing price. TD Cowen also reiterated its buy rating on the stock. “We expect AAPL to report results and outlook in line with expectations, as NT headwinds may include a small loss of market share for Huawei devices in China, macro impacts on consumer demand and foreign exchange. Potential key drivers of iPhone demand in C2H Includes emerging markets (EM) and upgrades to support early AI capabilities,” said analyst Krish Sankar. Sankar believes that iPhone sales will remain strong in the long term, which is his main driver of the stock’s outlook, as he expects annual replacement demand for phones to be about 220 million units. The analyst noted that Apple’s upcoming artificial intelligence suite could be a key catalyst in supporting iPhone replacement demand moving forward. Apple’s performance in 2024 will grow by more than 13%. AAPL YTD Mountain AAPL YTD — Brian Evans 5:49 AM: Akamai Technologies Gets Rating from Guggenheim According to Guggenheim, now is the time for investors to buy Akamai Technologies stock. The company upgraded the cloud security company from Neutral to Buy. It also implemented a $128 price target on the stock, which implies a 32% upside from Friday’s closing price. “We believe the company can leverage its leadership position [content delivery network] “We believe CDN technology is the foundation of security and the cloud,” analyst John DiFucci wrote, adding that it should improve gross retention, price stability and other characteristics, thereby increasing the value of the total business. It has fallen more than 18%.
