Upgrade Alert: JPMorgan Upgrades Coinbase to Neutral
JPMorgan recently upgraded Coinbase, a major crypto stock, to neutral. The upgrade comes as the trading platform is expected to benefit from higher crypto prices. With the recent approval of bitcoin ETFs and the resulting increase in Bitcoin price appreciation, JPMorgan sees more upside potential for crypto prices this quarter. However, the upgrade comes with a cautious note, as there are still many risks to consider, including valuation and potential competition from the newly launched Bitcoin spot ETFs.
Analyst Downgrades Twilio After Weak Revenue Guidance
Northland analyst Michael Latimore downgraded cloud stock Twilio to market perform following its weak current-quarter revenue guidance. Despite better-than-expected financial results for the fourth quarter, Twilio’s weak guidance overshadowed its performance. Latimore cited Twilio’s operational review of its underperforming segment business unit as a concern and warned that a sale of the unit could impact the company’s artificial intelligence strategy. Shares of Twilio dropped more than 11% before the bell on Thursday.
Bank of America Bullish on Super Micro Computer
Bank of America analyst Ruplu Bhattacharya initiated coverage of Super Micro Computer with a buy rating and set a price target of $1,040 per share, the highest among Wall Street analysts. Bhattacharya sees more rallying ahead for the stock, citing the company’s potential to benefit from the impact of artificial intelligence on its business. He noted that Super Micro Computer is already an early launch partner for major players in the industry like Nvidia, AMD, and Intel, and has the potential to support more rollouts in the coming years.
Deutsche Bank Bullish on Rocket Lab
Deutsche Bank sees strong growth acceleration ahead for Rocket Lab in 2024. Unlike other satellite companies facing structural cross currents, Rocket Lab has limited competition risk and its success is “almost entirely determined by execution,” according to analyst Edison Yu. He reiterated Rocket Lab as a top
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