© Reuters Today’s Most Important Upgrades
By Davit Kirakosyan
Oppenheimer upgraded Verizon Communications (NYSE:) to Outperform from Perform with a price target of $50.00, anticipating gradual stabilization-to-growth of the company’s subscriber base, although noting that near-term trends could remain volatile.
Pinterest (NYSE:) shares rose more than 4% intra-day today after Goldman Sachs upgraded the company to Buy from Neutral and raised its price target to $31 from $24. The analysts mentioned the improvement in user growth/engagement trends in short/medium term, as well as the potential for an upside to revenue growth trajectory and operating margin estimates for 2023/2024, as the key drivers for the upgrade.
Goldman Sachs upgraded Take-Two Interactive (NASDAQ:) to Buy from Neutral and raised its price target to $165.00 from $131.00. Shares were up 3% intra-day today. While noting that the near term remains fluid, the analysts believe the building of long-term industry themes should emerge in 2023/2024. They expect the company’s content pipeline to result in improved revenue growth and expanding margins in the coming years as games are moved from development to launch. Furthermore, the analysts highlighted the integration execution and an improved mobile gaming landscape for the Zynga acquisition in the coming years.
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