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Entrepreneur
Kurra Bewarse
Username: Entrepreneur

Post Number: 3900
Registered: 05-2011
Posted From: 24.164.46.35

Rating: N/A
Votes: 0

Posted on Monday, January 10, 2022 - 9:06 am:   

Susquehanna upgraded Infosys (INFY) to Positive from Neutral with a price target of $29, up from $22. The firm notes the company has the right mix to do well in this environment, and its core human resource excellence to recruit, train and retain should be a differentiator. The firm increased estimates for Infosys to reflect good demand for IT services. Interpreting IT budget forecasts in the Fortune 1,000, the firm would look for broad-based strength in core verticals.

Piper Sandler downgraded Airbnb (ABNB) to Neutral from Overweight with a price target of $169, down from $215. While omicron headlines have clouded the picture, the firm notes the longer-duration trajectory remains one of steady recovery. The firm expects travel in the U.S. in 2022 to look much closer to 219 levels than it did in 2020 and 2021. While Airbnb remains a top-tier asset, the firm believes the stock's setup looks less favorable into 2022. The firm cites "elevated" Street expectations, valuation and its alternatives pure-play focus, which may be less desirable as travel normalizes, for the downgrade.

New Street initiated coverage of Micron Technology (MU) with a Buy rating and $135 price target. The firm notes Micron is set to benefit from a strong secular and cyclical setup for DRAM, with two years of good revenue growth and material margin expansion. The firm expects earnings per share above $14.00 in fiscal 2023, which is well above current expectations. The firm believes this would justify a $120-150 range for the stock price. The firm also likes the stock for the long run, saying Micron will benefit from strong secular growth and will benefit over the years from improving profitability in NAND.

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