Elon Musk attends the groundbreaking ceremony of the Tesla Gigafactory in Shanghai, east China, on January 7, 2019.
Ding Ting | Xinhua News Agency | Getty Images
Check out the companies making headlines midday Thursday:
Tesla — Tesla rose 2.9% after Canaccord Genuity reiterated its buy rating of the electric car maker’s equity and told investors to expect another 23% rally for the stock. The brokerage’s new, $515 price target makes it the biggest Tesla bull of the major brokerages on Wall Street. Tesla is up 89% over the last six months.
Wingstop — The restaurant chain’s stock slid more than 1% after the company said its COO would step down on Mar. 7. According to a filing with the Securities and Exchange Commission, the resignation is “not the result of any material disagreement with the Company regarding its operations, policies or practices.” Shares have gained 33% over the last year.
Advanced Micro Devices — Shares of Advanced Micro Devices rose 7.1% after Nomura Instinet raised its price target on the stock to $58 per share from $40. The analysts, who have a buy rating on the stock, cited expected product launches in 2020 as a reason for the change. AMD was the best-performing stock in the S&P 500 last year.
Peloton Interactive — Peloton shares gained more than 4% after Baird named the company a “fresh pick.” The firm has an outperform rating on the stock thanks to a “large addressable market” and “enviable competitive positioning.” Shares of Peloton have shed more than 21% in the last month.
United Airlines — United Airlines gained 1.9% on Thursday morning after Evercore ISI upgrade the company to outperform from in-line. Evercore said in a note that United is trading at a significant valuation discount to its peers and has the “cleanest capital structure” of that group. The firm also raised its price target for United’s stock to $125 per share from $105.
Signet Jewelers — Signet Jewelers shares tanked more than 12% after an analyst at Wells Fargo downgraded them to underweight from equal weight. The analyst also slashed his price target on the stock to $12 per share from $16 per share amid concerns about a sales deceleration.
Intercept Pharmaceuticals — Shares of Intercept Pharmaceuticals dropped more than 4% after an analyst at Citi downgraded them to neutral from buy. The analyst said the approval of a drug aimed at treating fibrosis patients due to nonalcoholic steatohepatitis is priced into the stock, limiting further upside.
–CNBC’s Jesse Pound, Tom Franck and Pippa Stevens contributed to this report.
Tesla got a big price-target raise along with AMD.