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Xpeng (NYSE:XPEV) shares gained more than 5% pre-market today after BofA Securities upgraded the company to Buy from Neutral and raised its price target to $22.00 from $16.30, as reported in real-time on InvestingPro.
Shares fell more than 4% on Friday after the company reported worse-than-expected gross margins for its second quarter.
Rosenblatt upgraded Lumentum (NASDAQ:LITE) to Buy from Neutral with a price target of $62.00 after the company’s reported better-than-expected Q4 results last week, while guidance missed expectations.
The firm highlighted Lumentum’s dominant role as the primary producer of laser chips for Datacom transceivers. This dominance extends beyond initial assessments, encompassing Coherent’s (NYSE:COHR) transceivers as well, due to the customer preference for diversification in key component suppliers. According to Rosenblatt, the surge in demand for 800G Datacom transceivers, driven by the influence of AI, is projected to remain robust over several years.
Strategic Education (NASDAQ:STRA) shares rose more than 3% on Friday after BofA Securities upgraded the company to Buy from Neutral with a price target of $90.00 (from $99.00).
The upgrade was based on the potential for EPS to outperform expectations. The bank raised its EPS estimates for 2023 and 2024 by 6.5% and 5.5% respectively.
Cogent Communications (NASDAQ:CCOI) shares rose more than 1% pre-market today after Goldman Sachs upgraded the company to Neutral from Sell and raised its price target to $64.00 from $43.00.
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