All the market-moving Wall Street chatter from Thursday
(This is CNBC Pro’s live coverage of Thursday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Nvidia and PayPal were among the stocks being talked about by analysts on Thursday. Daiwa raised its price target to $1,325 on Nvidia, calling for more than 15% upside. Mizuho, meanwhile, upgraded PayPal to buy from neutral with a price target that implies more than 45% upside. Check out the latest calls and chatter below. All times ET. 6:09 a.m.: Baird initiates UnitedHealth Group stock coverage, lists company as top long play Baird is growing bullish on the long-term outlook for UnitedHealth , with analyst Michael Ha labeling the firm as “best positioned for the next decade of industry transformation.” The analyst initiated coverage on UnitedHealth with an outperform rating and a $597 per share price target, which equates to about 23% upside ahead from Wednesday’s close. Ha sees the majority of UnitedHealth’s potential growth tied to the expansion of its managed care business, which can differentiate itself from peers thanks to its Optum arm of the company. “Its scale in health insurance helps to build a competitive moat around its core business, but we believe the true differentiation lies in its Optum business and we are specifically very bullish on OptumCare/OptumHealth,” the analyst said. “We believe the embedded earnings opportunity from converting existing UnitedHeatlhcare MA lives over to full risk capitation in OptumCare/OptumHealth is significant and will help drive increased visibility/sustainability of its long-term earnings stream with opportunity for enterprise margin expansion that should drive multiple expansion beyond historical levels over the next decade,” he added. UnitedHealth stock has ticked down about 8% in 2024. — Brian Evans 5:46 a.m.: Daiwa increases Nvidia price target, says company is AI’s ‘big winner’ Shares of soaring chipmaker Nvidia have more room to run, according to Daiwa Capital Markets. Analyst Louis Miscioscia raised his price target on the chipmaker to $1,325 from $900, which implies more than 15% upside from Wednesday’s close. “Why is Nvidia the big winner? Basically [because] they have built what AI needs,” Miscioscia wrote. Nvidia stock has gained roughly 132% in 2024, adding to last year’s 238% surge, as investors cheer the company’s AI prospects. “The AI phenomena seems as important as the launch of the PC, the internet and the mobile phone and will change the world,” Miscioscia said. “Even with raised numbers, Nvidia cannot fully meet demand.” — Brian Evans 5:46 a.m.: Mizuho upgrades PayPal to buy After tears of struggles, Mizuho thinks PayPal shares are primed for a comeback. Analyst Dan Dolev upgraded the payments stock to buy from neutral. His price target of $90, up from $68, implies upside of 47% from Wednesday’s close. “Our proprietary analysis of PYPL’s newly-introduced Fastlane product shows potential for $1.0-1.5bn transaction margin dollar lift (5-10% upside) over the medium-term given the $1.43 trillion of annual e-comm spend that we believe is addressable by Fastlane,” Dolev wrote, referring to PayPal’s new one-click checkout tool. “We are also encouraged by stabilization in Branded Checkout trends across our analysis of two dozen of PYPL’s largest e-comm partners,” he said. PayPal shares are down slightly year to date, while the S & P 500 has climbed 10%. The stock has also fallen over the last three years, losing 13.8% in 2023 and a whopping 62% in 2022. PYPL 5Y mountain — Fred Imbert
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