Wells Fargo remains underweight on Ally Financial following CEO presentation
Confident Investing Starts Here:
Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
5 hours ago
- CNBC
Here's what Wall Street thinks about Tesla's second-quarter results
Wall Street ratings were a mixed bag after Tesla's second-quarter financial results. Tesla on Wednesday reported a second straight quarter of declining automotive sales , which came in at $16.7 billion for the period, down from $19.9 billion in the same quarter last year. The company also missed on top and bottom lines. Shares of the electric vehicle maker plunged 6% in premarket trading, piling on its roughly 17.7% year to date loss. Tesla has struggled in key markets such as China and Europe and notably lost market share to Chinese companies that have released lower cost EV models. Still, analysts have a wide range of ratings and price targets on Tesla shares. It's a company that bulls tend to stick by for its future value in technologies such as robotaxis, not necessarily its near-term innovation. Analysts polled by LSEG have a consensus price target on Tesla that implies more than 9% downside for Tesla shares. Of the 54 analysts covering the stock, five rate it a strong buy, while 19 rate it a buy and 20 maintain a hold. Ten have an underperform or sell rating on shares. Here's a look at what some Wall Street majors said after the EV maker's earnings release: Goldman Sachs keeps neutral rating, lifts price target to $300 Analyst Mark Delaney raised his 12-month price target to $300 from $285. He said he expects Tesla's revenue growth and profits to improve in 2026, but is keeping his 2025-2027 estimates below the FactSet consensus. "We believe a key focus for investors going forward will be the ability for revenue and profits to reaccelerate driven by Tesla's AI enabled products (e.g. robotaxis, FSD) and new vehicle launches against a more difficult policy environment and given competition," Delaney said in a Wednesday note. "Management did note the potential for the end of IRA EV purchase incentives in 4Q to temporarily pressure fundamentals, but the shift to AI enabled products including robotaxis/FSD and Optimus would be a substantial long-term driver." Wells Fargo reiterates underweight rating, $120 price target Wells Fargo sees major room for downside ahead. Analyst Colin Langan's price target implies Tesla shares stand to lose nearly 64% from their latest close of $332.56 per share. Tesla shares are down in post-earnings trading "despite a Q2 op margin beat as fundamentals look worse into 2H. TSLA did not provide new delivery guidance & warned of added pressure from tariffs, IRA & OBBB. We agree with 2H concerns & remain UW," Langan wrote in a Thursday note. He remains cautious on robotaxis, even after CEO Elon Musk's bullish commentary that robotaxis will "probably address half the population of the U.S." by year-end, and that Tesla expects an Optimus 3 prototype by the end of the year to scale next year. Langan said that scaling robotaxis and Optimus humanoids could take longer than expected, which he believes raises risks as Tesla's core business weakens. Morgan Stanley maintains overweight rating, $410 price target Analyst Adam Jonas is a well-known Tesla bull. He reiterated Tesla as a top pick and kept a target price that implies about 23% potential upside. Still, Jonas lowered his fiscal year 2025 earnings per share expectations by 14% compared to prior forecasts, mostly driven by lower deliveries and higher operating expenses. "2Q numbers were a slight beat with FCF near break-even. Tesla is crossing the chasm to autonomy while absorbing slower volume, EV incentive elimination, tariffs and investing in new initiatives that may not make margins for years," Jonas said in a note about Tesla's results. "Our OW rating and $410 price target are underpinned by our belief that Tesla's capabilities in key areas of physical AI ... offer growth and margin opportunities that greatly exceed those of the traditional EV business, which is under pressure," he added. "we struggle to think of any other company as well positioned as Tesla in terms of data, robotics, energy, AI, manufacturing and supporting infrastructure Bank of America reiterates neutral rating, $341 price target Analyst Federico Merendi anticipates "rough quarters ahead" for Tesla, echoing Musk's commentary. His neutral rating on the stock relies on Tesla's current market advantage in autonomous driving initiatives and physical AI applications, he said. "Tesla commentary on future developments in terms of real-world AI (Autonomous vehicles/robotaxi and Optimus) remains bullish. However, the company is facing challenging times," he wrote in a note to clients. "Commentary also suggests that the tariff impact may increase in the future. However, by end of 2026, management thinks that Tesla's economics will be compelling with autonomy at scale." Evercore ISI maintains in-line rating, $235 price target Analyst Chris McNally expects Tesla's third-quarter results to see the downbeat effects of slower EV launches and tariff impacts. "The LT negative EPS revision trend has continued, unabated," he said in a note. "We believe there will be a sharper cons move post Q3."
Yahoo
9 hours ago
- Yahoo
One of Wall Street's biggest bulls sees tech powering an 11% gain in stocks through the rest of 2025
The S&P 500 is on track to rise another 11% by year-end, Wells Fargo's Chris Harvey says. Harvey predicts the S&P 500 will pass 7,000 by December, making him one of Wall Street's biggest bulls. That's largely because tech stocks will keep winning amid a strong macro backdrop, he said. The US stock market looks like it's going to keep powering through to new records, says one of the biggest bulls on Wall Street. Christopher Harvey, the chief US equity strategist at Wells Fargo, predicts that the S&P 500 will reach 7,007 by the end of the year. His forecast — now one of the most optimistic on Wall Street — implies the benchmark index climbing another 11% from its current levels, or a 19% gain for the year. Speaking to Bloomberg about his thesis on Monday, Harvey pointed to a handful of reasons that would keep the market climbing higher: AI boom. Mega-cap tech stocks will likely keep climbing higher, Harvey said. He brushed off concerns that the hype over artificial intelligence resembled the dot-com bubble in the 1990s, noting that many companies today have stronger fundamentals. Large-cap tech and AI stocks have been on a tear since their low in early April, shortly after President Donald Trump announced his Liberation Day tariffs. The Roundhill Magnificent Seven ETF is up 41% from its April 8 low. "What we're seeing is the winners continue to win. The uber-cap companies have the higher margins, are gaining more market share. There is a real secular trade in AI that will continue," Harvey said. Strong mergers and acquisition activity. Dealmaking has remained relatively strong on Wall Street, another factor that should support the market, Harvey said. Strategic M&A activity was up 11% year-over-year from January through May, according to an analysis from the consultancy Bain & Company. "We think that M&A will continue to be very, very healthy up and down the capitalization," Harvey added. The US consumer remains strong. Americans keep spending, despite concerns that tariff-related price increases could shut off an important engine of the economy. Consumers ramped up their spending more than expected last month, with retail sales rising 0.6%, according to the US Census Bureau. The Fed is likely to cut interest rates. The central bank looks on track to eventually lower interest rates despite hesitation stemming from President Donald Trump's tariffs in recent months. Investors are pricing in two or three rate cuts from the Fed by the end of 2025, according to the CME FedWatch tool. Those bullish factors override any concerns investors have over the market, Harvey said, pointing to concerns about the impact of tariffs and Trump's escalating feud with Fed Chair Jerome Powell. Investors are worried that tariffs could raise inflation while hampering economic growth, and that Trump could interfere with the Fed's independence, which could stoke inflation down the line. "We had seen Trump 1.0. We know his style," Harvey said, referring to the belief that the president goes hard on his policies before softening his tone. Harvey was one of the few strategists on Wall Street who stuck to his original S&P 500 target for the year, even during the historic sell-off in April as Trump unveiled his slate of tariffs. Forecasters like Goldman Sachs and JPMorgan lowered their stock forecasts and lifted their recession odds, before reversing once Trump paused most tariffs. Read the original article on Business Insider Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Insider
10 hours ago
- Business Insider
Mizuho Securities Sticks to Their Buy Rating for Tesla (TSLA)
In a report released today, Vijay Rakesh from Mizuho Securities maintained a Buy rating on Tesla, with a price target of $375.00. The company's shares closed today at $332.56. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Rakesh is a 5-star analyst with an average return of 19.2% and a 60.16% success rate. Rakesh covers the Technology sector, focusing on stocks such as Broadcom, Credo Technology Group Holding Ltd, and Advanced Micro Devices. In addition to Mizuho Securities, Tesla also received a Buy from Benchmark Co.'s Mickey Legg in a report issued today. However, yesterday, GLJ Research reiterated a Sell rating on Tesla (NASDAQ: TSLA). Based on Tesla's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $19.34 billion and a net profit of $409 million. In comparison, last year the company earned a revenue of $21.3 billion and had a net profit of $1.39 billion Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is neutral on the stock. Last month, Xiaotong Zhu, the SVP, APAC of TSLA sold 15,000.00 shares for a total of $4,857,000.00.
