Today's most important upgrades By Investing.com

War for Semiconductor Supremacy Rages On: Which Company Will Come Out on Top?

Today's most important upgrades

Published Feb 13, 2023 16:12

Saved. See Saved Items.

This article has already been saved in your Saved Items

+6.12%

Add to/Remove from a Portfolio

PRLB

+5.00%

Add to/Remove from a Portfolio

+0.82%

Add to/Remove from a Portfolio

+1.35%

Add to/Remove from a Portfolio

FSLY

+0.92%

Add to/Remove from a Portfolio

By Davit Kirakosyan

Zillow Group (NASDAQ:ZG) shares gained more than 5% intra-day today after Evercore ISI upgraded the company to Outperform from In Line and raised its price to $61 from $34.

The firm mentioned several key factors behind the upgrade, including (1) Q1/23, which was the low point for the residential real estate sector in terms of existing home sales and prices, is showing tentative signs of a rapid rebound, (2) the company's top-line trends are expected to turn positive in Q2/23, (3) Zillow is believed to be well positioned to take advantage of the real estate market recovery, (4) investments and initiatives could position Zillow for stronger growth and profitability in the post-recovery market, and (5) despite a 40% YTD increase in the stock price, there is reasonable valuation upside from current levels.

The firm also mentioned that the housing market is “either already beginning to recover or will very soon do that.”

Fastly Inc (NYSE:FSLY) shares jumped more than 30% intra-day today after BofA Securities upgraded the company to Buy from Underperform and raised its price target to $16.00 from $10.50 as it believes the cloud computing provider is on “the road to recovery”.

According to BofA Securities, the company’s short-term results could still fluctuate but the firm would like to focus on the potential value creation in the intermediate term and believes that Fastly has solid underlying foundations, which the new management team is aiming to expose.

Todd Nightingale joined Fastly as CEO in September and laid out a turnaround strategy during the company’s Q3 earnings call. Since then, he has taken steps to streamline the product portfolio, pricing, and other operational aspects, and BofA Securities believes this could drive revenue growth reacceleration and margin expansion, with the company reaching profitability by 2024.

Benchmark upgraded Proto Labs (NYSE:PRLB) to Buy from Hold with a price target of $45.00 following the company’s reported Q4 results on Friday.

According to the firm, high points for the quarter included 49.6% year-over-year growth for the Hubs digital network group, positive cash flow for the year, and an expanded share repurchase program.

Shares gained more than 13% on Friday after the company reported Q4 EPS of $0.26, better than the consensus estimate of $0.22. Revenue came in at $115.6 million, beating the consensus estimate of $110.83M.

Management provided updated guidance for upcoming Q1/23, including revenues of $114-$122M, or -3% to +3% growth, and non-GAAP EPS of $0.18-$0.26.

Credit Suisse upgraded AllianceBernstein (NYSE:AB) to Outperform from Neutral and raised its price target of $43.50 from $32.00.

The firm said AllianceBernstein is "too good a story to ignore" following better-than-expected Q4/22 results and a comprehensive model refresh.

Shares rose more than 2% intra-day today.

Ralph Lauren (NYSE:RL) shares gained more than 4% intra-day today after BofA Securities upgraded the company to Buy from Neutral and raised its price target to $145.00 from $130.00, as the company’s strong revenue trends boost confidence.

The company reported its Q3 results on Thursday, with EPS of $3.35 coming in better than the consensus estimate of $2.92. Revenue was $1.83 billion, beating the consensus estimate of $1.76B.

Want to get this news first? Upgrade to InvestingPro for real-time market coverage.

Add a Comment

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically.
Use standard writing style. Include punctuation and upper and lower cases.
NOTE: Spam and/or promotional messages and links within a comment will be removed
Avoid profanity, slander or personal attacks directed at an author or another user.
Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read and understood Investing.com South Africa's comment guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d71-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d71-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d71-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

South Africa Top 40	71,993.27	+1337.19	+1.89%
S. Africa 40 Futures	72,500	+1465	+2.06%
US 30	33,759.9	+698.3	+2.11%
US 500	4,282.3	+61.3	+1.45%
US Tech 100	14,559.0	+117.5	+0.81%
DAX Futures	16,077.0	+202.0	+1.27%
Dollar Index	103.990	+0.488	+0.47%

Gold	1,964.30	-31.20	-1.56%
Silver	23.695	-0.292	-1.22%
Crude Oil WTI	71.87	+1.77	+2.52%
Brent Oil	76.40	+2.12	+2.85%
Natural Gas	2.177	+0.019	+0.88%
Copper	3.7330	+0.0220	+0.59%
US Corn	608.00	+16.00	+2.70%

USD/ZAR	19.5092	-0.1192	-0.61%
EUR/USD	1.0708	-0.0054	-0.50%
GBP/USD	1.2450	-0.0077	-0.61%
USD/JPY	139.97	+1.17	+0.85%
GBP/JPY	174.26	+0.39	+0.22%
USD/CAD	1.3428	-0.0021	-0.16%
AUD/USD	0.6602	+0.0031	+0.47%

Steinhoff	24	-3	-11.11%
MTN	12,405	+314	+2.60%
Standard Bank	15,517	+227	+1.48%
FirstRand Ltd	6,155	+37	+0.60%
BHP Group Ltd	50,000	+0	+0.00%
African Rainbow Minerals	21,624	+554	+2.63%
Naspers	319,614	+12283	+4.00%

Today's most important upgrades

Related Articles