5 big analyst picks: Morgan Stanley raised to Buy, Holley jumps on two upgrades
MS
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SEE
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SPWR
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IART
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HLLY
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Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Morgan Stanley, Holley, Sealed Air, SunPower, and Integra LifeSciences.
InvestingPro subscribers got this news first. Never miss another market-moving headline.
Morgan Stanley raised to Buy
Odeon Capital upgraded Morgan Stanley (NYSE:MS) to Buy from Hold with a price target of $94.00.
The firm noted that despite Fed pledging to raise interest rates, its balance sheet has seen a minimal decline of less than 1% since February. Furthermore, it has given no indication of intending to increase quantitative tightening. Thus, Odeon expects a favorable flow of money, benefiting Morgan Stanley’s business model.
The firm also predicts a strong M&A market and increased earnings potential, making Morgan Stanley an attractive investment.
Holley stock jumps on two upgrades
Holley (NYSE:HLLY) shares surged more than 21% yesterday after two Wall Street firms upgraded the company, as reported in real time on InvestingPro. JPMorgan upgraded the company to Overweight from Neutral with a price target of $7.00, while BofA Securities upgraded to Buy from Neutral with a price target of $6.00 (from $3.25).
JPMorgan said the rating change was based on valuation and anticipated revenue growth in 2023 and 2024. The bank also expects improved profit margins and reduced leverage ratios resulting from growth and debt reduction.
According to BofA, web traffic data indicates potential revenue growth in Q2. The bank anticipates that recent cost cuts will lead to enhanced operating leverage and identify an opportunity for margin improvement.
Sealed Air earns another upgrade
Sealed Air (NYSE:SEE) received its second upgrade this week after a significant decline in share performance recently.
Baird upgraded the company to Outperform from Neutral with a price target of $49.00, noting it believes that the market already assumes a reduction in 2023 earnings expectations as the baseline assumption.
Earlier this week, BofA Securities upgraded the company to Buy from Neutral with a price target of $52.00 (from $61.00).
2 more upgrades
Raymond James upgraded SunPower (NASDAQ:SPWR) to Strong Buy from Outperform with a price target of $21.00. Shares jumped more than 8% yesterday.
Jefferies upgraded Integra LifeSciences (NASDAQ:IART) to Buy from Hold with a price target of $53.00 (from $58.00). Shares gained more than 3% yesterday.
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