(This is CNBC Pro’s live coverage of Wednesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A major U.S. homebuilder was in focus Wednesday among analysts. KBW upgraded D.R. Horton , citing a favorable backdrop for the housing market. Shares ticked slightly higher in the premarket. Not everyone was so lucky to get an upgrade, however. HSBC downgraded Ferrari to hold from buy. The stock fell slightly on the back of the rating change. Check out the latest calls and chatter below. 6:03 a.m. ET: Thermo Fisher Scientific is a standout life sciences play, Wolfe Research says Wolfe Research initiated Thermo Fisher Scientific as a top pick in life science and diagnostics tools stocks, which remains an “attractive industry,” according to Wolfe Research. Analyst Doug Schenkel assigned an outperform rating to the stock with a $575 price target, implying shares stand to gain 15.6% from the stock’s latest close at $497.37. Shares are down 9.7% for the year, fueled by declining sales due to lower Covid-19 product demand but have gained 11.7% over the past month. “We expect that TMO shares will outperform the peer group over the next year as confidence builds in the outlook for a return to MSD/HSD revenue growth and sustained margin improvement,” Schenkel wrote in a Wednesday note. “We also note that TMO management is top-tier when it comes to “playing offense when others are playing defense” – we estimate TMO has $20-30B to deploy. We also view 2024 estimates as de-risked.” The analyst expects revenue growth over the next decade, which contributes to the stock’s “compelling” risk/reward. — Pia Singh 5:57 a.m. ET: JPMorgan lowers outlook on R1 RCM after company’s business transformations Analyst Anne Samuel downgraded R1 RCM to neutral, citing changes in the company’s business strategy. Over the past two years, the health care revenue management firm acquired peer company Cloudmed, subsequently oversaw a management…
2023-12-13 05:36:00
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