On Wednesday, Morgan Stanley initiated coverage on shares of IDACORP, Inc. (NYSE:IDA), assigning an Equalweight rating to the stock with a price target of $92.00. The firm recognizes the company\'s accelerating sales growth as a positive factor that has led to a turning point in its rate base outlook. The analysis by Morgan Stanley noted...
By Helen Reid HERZOGENAURACH, Germany (Reuters) -German sportswear giant Adidas (OTC:ADDYY) posted its first annual loss in more than 30 years on Wednesday and warned sales in North America would fall again as sportswear retailers in the U.S. battle high inventories. Adidas has been battling to right itself after it cut ties with Kanye West...
By Miranda Murray and Nick Carey BERLIN (Reuters) -Volkswagen expects a 3% rise in its car sales this year, down sharply from 2023 amid a gloomy economic outlook and growing competition. Presenting the German automaker\'s 2023 results, finance chief Arno Antlitz said the \"general economic situation remains challenging,\" but added \"we are confident about 2024,...
On Wednesday, Citi maintained a Buy rating on Constellation Brands (NYSE:STZ) shares, with a steady price target of $305.00. The firm anticipates the company to benefit from favorable conditions that could act as catalysts over the next month. These include improved beer sales comparisons from last March, when California experienced poor weather, and the potential...
Tesla (NASDAQ:TSLA) stock fell 1.5% in early New York trading Wednesday after Wells Fargo downgraded the rating to Underweight (equivalent to sell) from Equal Weight. Analysts called Tesla “a growth company with no growth.” The analysts also cut the price target by as much as $75 to $125 per share, which indicates a near 30%...
Adidas (OTC:ADDYY) saw its shares slip 1.4% in Frankfurt trading Wednesday after the company released its financial results for the fiscal fourth quarter and warned of a sales decline in 2024. For the fiscal Q4, the sportswear and footwear maker reported a loss per share of €2.13, compared to a loss per share of €2.87...
On Wednesday, Citi adjusted its outlook on Kohl\'s Corp (NYSE:KSS), reducing the retailer\'s shares price target to $24 from the previous $27, while maintaining a Neutral rating on the stock. The revision follows Kohl\'s fourth-quarter earnings, which surpassed expectations on earnings per share (EPS) due to improved gross margins and overhead cost management. However, concerns...
HONG KONG (Reuters) -Cathay Pacific reported its first annual profit in four years as the airline left behind the pandemic-linked restrictions that drove heavy losses and layoffs, pushing its shares to a four-year high. Hong Kong\'s flagship airline said on Wednesday it earned a net profit of HK$9.79 billion ($1.25 billion) in 2023, above the...
On Wednesday, Stifel, a financial services company, revised its price target for shares of International Game Technology (NYSE:IGT), a global gaming company. The price target has been reduced to $26.00 from the previous $30.00 while maintaining a Hold rating on the stock. The adjustment follows International Game Technology\'s latest quarterly results, which showed a 2%...
On Wednesday, Wells Fargo issued a downgrade for Tesla (NASDAQ:TSLA) shares, moving its rating from Equal Weight to Underweight. The firm also adjusted the electric vehicle company\'s price target to $125 from the previous $200. The downgrade stems from concerns over Tesla\'s volume growth and the diminishing impact of price reductions on sales. The analyst...