Looking Beyond The 'Magnificent 7' — Analysts Just Upgraded These Three Large-Cap Stocks
Portfolio Pulse from Aditi Ganguly
Analysts have upgraded Spotify Technology (SPOT), Anheuser-Busch Inbev SA (BUD), and Restaurant Brands International Inc. (QSR) despite concerns of a potential recession in 2024. Spotify's strong financials and workforce reduction are expected to drive profitability, with Pivotal Research and Rosenblatt Securities setting price targets of $265 and $300, respectively. Anheuser-Busch is recovering from a sales decline due to a controversy, with JPMorgan setting a price target of $79. Restaurant Brands is expected to see increased revenue from holiday sales, with RBC Capital and BMO setting price targets of $87 and $85, respectively.
January 01, 2024 | 3:00 pm
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POSITIVE IMPACT
Anheuser-Busch is recovering from a sales decline due to a controversy and boycott, with JPMorgan setting an Overweight rating and a price target of $79, indicating a 22.5% potential upside.
The recovery from the recent controversy and the positive rating from JPMorgan could lead to increased investor confidence and a potential rise in Anheuser-Busch's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Restaurant Brands International is expected to see a revenue increase from holiday sales, with RBC Capital and BMO setting price targets of $87 and $85, respectively, indicating potential upsides.
The positive outlook from RBC Capital and BMO, coupled with expected revenue growth from holiday sales, suggests a potential short-term increase in Restaurant Brands' stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Spotify's year-to-date gain of 140%, strong financials, and workforce reduction by 17% are expected to improve profitability. Analysts have upgraded the stock with price targets of $265 and $300, indicating significant upside potential.
The upgrades by Pivotal Research and Rosenblatt Securities, along with Spotify's positive financial results and cost-cutting measures, suggest a bullish outlook that could positively impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90