Street calls of the week: Upgrades for Micron, Magnite and GoodRx Holdings
Investing.com -- Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Micron, Magnite and GoodRx Holdings; downgrade for Him Hers Health.Morgan Stanley acknowledges that maintaining a negative stance on Micron for an extended period was a misstep. While they are not yet optimistic, they concede that they should have anticipated the fundamental and narrative implications of the strength in AI specialty memory.
With these factors driving near-term fundamentals - they could see a positive preannouncement in upcoming conferences - and a positive view on AI semis, Morgan Stanley is moving to Equalweight on MU Raymond James’ positive stance on PENN’s stock is not solely based on the belief that ESPN BET will capture a significant market share or generate positive EBITDA in the near term. Instead, the brokerage recognizes that PENN stock can still perform well to a certain extent. Specifically, Raymond James believes that the market is undervaluing the digital business, attributing negative equity value to it.
However, with the stock up 20% since the announcement, HIMS has effectively added approximately $760M of enterprise value on limited new information, leaving little room for upside, in Citi’s view. As a result, the bank is downgrading HIMS from Buy/High Risk to Neutral/High Risk as they await further detail on GLP-1 economics and durability. Despite the downgrade, Citi remains attentive to HIMS’ future moves and potential in the market.
The analysts highlight MGNI’s unique product mix that marries an ad server with an SSP, establishing it as a pivotal hub for publishers’ programmatic frameworks regardless of the purchasing pathway. This integration renders MGNI significantly less susceptible to disintermediation compared to standalone SSPs.
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