Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at C3.ai, Chevron, Domino’s Pizza, and The Trade Desk.
C3.ai upgraded following Q4 earnings, shares plunge on soft guidance
Wedbush upgraded C3.ai (NYSE:AI) to Outperform from Neutral and raised its price target to $50.00 from $24.00 following Q4 earnings, as InvestingPro reported in real time.
While Q4 EPS and revenue came in better than the consensus estimates, the soft outlook disappointed investors. As a result, shares fell more than 13% yesterday.
According to the firm, C3.ai has turned a corner and is ready to now capitalize on the $800 billion AI transformational opportunity over the next decade with use cases increasing across the board. Furthermore, Wedbush noted that the company is in a unique position to help lead the charge and monetize this looking ahead the next 12 to 18 months.
Chevron earns another upgrade
RBC Capital upgraded Chevron (NYSE:CVX) to Outperform from Sector Perform and raised its price target to $180.00 from $165.00, noting that the PDC Energy (NASDAQ:PDCE) deal re-rates the company's FCF yield higher.
Looking forward, the bank believes the macro environment is likely to remain volatile, however, weaker end product demand and OPEC+ managing the oil market leaves the company’s upstream heavy weighting well-placed.
Earlier this week, JPMorgan upgraded the company to Neutral from Underweight with a price target of $170.00 (from $161.00).
2 more upgrades
Domino’s Pizza (NYSE:DPZ) shares rose more than 2% yesterday after JPMorgan upgraded the company to Overweight from Neutral and raised its price target to $360.00 from $340.00.
Morgan Stanley upgraded The Trade Desk (NASDAQ:TTD) to Overweight from Equalweight with a price target of $90.00, noting that the company is driving and benefiting from growth in CTV and retail media advertising.
As a result, shares closed more than 4% higher yesterday and gained around 3% pre-market today.