BofA Securities analyst Michael McGovern believes Carvana is well-positioned for long-term growth in the fragmented used car market. He expects the company to continue improving unit economics and leverage as growth accelerates, leading to a projected 2025 revenue of $15.45 billion and EBITDA of $1.50 billion.
GE Vernova (GEV) shares are experiencing a surge after BofA Securities analyst Andrew Obin upgraded the stock to Buy and raised its price target. Obin highlights the potential of Gas Power Services, a segment he believes investors are undervaluing, and expects strong growth in the coming quarters. He cites the increasing utilization of gas turbines and anticipates GEV to exceed expectations.
Norfolk Southern Corporation has appointed Mark George as its new President & CEO, replacing Alan Shaw who was terminated for violating company policies. Despite the leadership change, BofA Securities analyst Ken Hoexter maintains a Buy rating on the stock, citing the company’s commitment to improving operational efficiency and closing the margin gap with its peers.
BofA Securities analyst Ross Fowler has adjusted his ratings for NiSource Inc (NI) and CenterPoint Energy, Inc (CNP). He has reinstated a Buy rating for NiSource, citing the company’s strong performance and financial prudence. However, Fowler has maintained a Neutral rating for CenterPoint Energy, acknowledging the challenges the company faces in the aftermath of Hurricane Beryl.
BofA Securities analyst Ross Fowler has reinstated Buy ratings on Edison International (EIX), Pacific Gas & Electric (PCG), and Sempra (SRE), citing their attractive valuations and California’s robust wildfire risk management strategies. Despite recent wildfire events, Fowler believes the state’s policies, coupled with the utilities’ efforts to mitigate risks, present a favorable investment opportunity.
BofA Securities analyst Ross Fowler has reinstated coverage on four US utilities in the Great Plains, issuing Buy ratings for Evergy, Inc. (EVRG) and MDU Resources Group, Inc. (MDU), a Neutral rating for OGE Energy Corp (OGE), and an Underperform rating for Black Hills Corporation (BKH). Fowler’s analysis delves into the individual factors driving his ratings, including regulatory environments, growth prospects, and financial considerations.
BofA Securities analyst Christopher Nardone reiterated his ‘Buy’ rating for Crocs, Inc. (CROX) despite concerns about slowing growth in North America. The analyst highlights the strong performance of Crocs’ China business as a key factor in maintaining a bullish outlook. While acknowledging the slowdown in the US market, Nardone believes that Crocs can still achieve sustained double-digit growth internationally and expects a rebound in the second half of the year.
BofA Securities has upgraded Fulcrum Therapeutics (FULC) ahead of the company’s Phase 3 readout for losmapimod, a potential treatment for Facioscapulohumeral muscular dystrophy (FSHD). The analyst cites optimism from key opinion leaders about the upcoming results, based on the functional benefits seen in Phase 2 using the ‘reachable workspace’ (RWS) endpoint. While the analyst acknowledges uncertainties about the study’s success, they have increased the likelihood of success from 35% to 50%.
BofA Securities analyst Andrew G. Didora upgraded JetBlue Airways Corp (JBLU) from Underperform to Neutral, citing improving revenue trends and a favorable industry backdrop. Didora expects JetBlue’s liquidity position to improve significantly in the coming years, giving the company time to execute its turnaround plan. The upgrade reflects a positive outlook on the airline’s future.
BofA Securities analyst Peter Henderson initiates coverage on Live Nation Entertainment (LYV) with a ‘Buy’ rating, citing positive industry trends and a compelling growth trajectory. Henderson forecasts a price target of $125 and sees several factors driving long-term growth, including a shift towards experiential spending, favorable supply-demand dynamics, and rising sponsorship opportunities. The analyst expects strong revenue and earnings growth for the live concert sector in the coming years.
