{"id":42858,"date":"2023-08-01T00:59:40","date_gmt":"2023-08-01T04:59:40","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/4-big-analyst-picks-carvana-axed-again\/"},"modified":"2023-08-01T00:59:42","modified_gmt":"2023-08-01T04:59:42","slug":"4-big-analyst-picks-carvana-axed-again","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42858","title":{"rendered":"4 big analyst picks & cuts: Adobe cheered on AI prospects; Carvana axed again"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Here is your Pro Recap of the biggest analyst picks and cuts you may have missed today: Upgrades at Adobe, Wayfair, and Chevron, and a downgrade at Carvana.<\/p>\n

InvestingPro subscribers got this news first. Never miss another market-moving headline.<\/p>\n

Adobe gains on Morgan Stanley upgrade<\/strong><\/h2>\n

Adobe Systems (NASDAQ:) shares gained more than 2% pre-market today after Morgan Stanley upgraded the company to Overweight from Equalweight and raised its price target to $660.00 from $510.00, as reported in real-time on InvestingPro.<\/p>\n

The analyst cited increased clarity on AI-enabled products and the roadmap for monetization have bolstered their confidence in Creative Cloud’s organic growth potential. The firm added that the expectation of mid\/high-teens EPS growth within the next three years provides further justification for a hiked multiple and price target.<\/p>\n

Carvana slashed to Underperform at Jefferies<\/strong><\/h2>\n

Jefferies downgraded Carvana <\/span><\/span> (NYSE:) to Underperform from Hold and cut its price target to $30.00 from $55.00, representing the fifth downgrade this month.<\/p>\n

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Consensus appears to overestimate the sustainability of recently elevated profitability, which we believe benefited from transitory tailwinds that will abate in the coming quarters. Our revised ’24 GPU\/EBITDA are ~10%\/45% below the Street, despite us assuming per unit economics remain well above prepandemic levels.<\/p>\n<\/blockquote>\n

Shares were losing 1.2% in premarket trading.<\/p>\n

Wayfair shares jump on upgrade<\/strong><\/h2>\n

Piper Sandler upgraded Wayfair (NYSE:) to Overweight from Neutral and raised its price target to $97.00 from $35.00. As a result, shares jumped over 8% pre-market today.<\/p>\n

The upgrade was driven by stabilizing the home furnishings industry, improving sales, positive supplier feedback, attractive valuation, and the potential for sustained EBITDA profitability.<\/p>\n

The company is set to report its Q2\/23 earnings on Thursday before the market opens.<\/p>\n

Chevron earns an upgrade at Goldman Sachs<\/strong><\/h2>\n

Goldman Sachs upgraded Chevron <\/span><\/span> (NYSE:) to Buy from Neutral with a price target of $187.00, following the company\u2019s Q2 beat on Friday.<\/p>\n

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We upgrade Chevron from Neutral to Buy on (a) leading capital returns; (b) clear inflection in cash flow in 2024 and volumes in 2025; and (c) relative valuation, particularly in 2025.<\/p>\n<\/blockquote>\n

Shares gained more than 1% pre-market today.<\/p>\n

Get ready to supercharge your investment strategy with our exclusive discounts.<\/p>\n

Don’t miss out on this limited-time opportunity to access cutting-edge tools, real-time market analysis, and expert insights. Join InvestingPro today and unlock your investing potential. Hurry, the Summer Sale won’t last forever!<\/p>\n

\"summer<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Here is your Pro Recap of the biggest analyst picks and cuts you may have missed today: Upgrades at Adobe, Wayfair, and Chevron, and a downgrade at Carvana. InvestingPro subscribers got this news first. Never miss another market-moving headline. Adobe gains on Morgan Stanley upgrade Adobe Systems (NASDAQ:) shares gained more than 2% […]<\/p>\n","protected":false},"author":1,"featured_media":42859,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-42858","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\n4 big analyst picks & cuts: Adobe cheered on AI prospects; Carvana axed again | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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