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BMO Ups Wells Fargo Price Target to $50 from $49

BMO Ups Wells Fargo Price Target to $50 from $49

October 19, 2017 at 1:59 pm 0 comments

BMO has raised its price target for Wells Fargo & Company (WFC) to $50 from $49 while keeping its market perform rating, as investors remain bullish on rising short-term rates to drive higher net interest margin. “We rate WFC shares market perform because they have been range-bound while other U.S. large-cap banks overshot their respective historical average multiples,” BMO analystRead More

CapStar Financial Reports Q3 EPS, Revenue Above Street

October 19, 2017 at 1:59 pm 0 comments

CapStar Financial Holdings (CSTR) rose 7.5% in Monday’s afternoon trade after the company reported financial results for Q3, with both top and bottom lines exceeding analysts’ expectations. The bank holding company for CapStar Bank posted Q3 earnings of $0.35 per diluted share, compared with the prior-year period’s $0.20 per diluted share. Analysts polled by Capital IQ were expecting EPS ofRead More

JD.com Said to be Better Deal Versus Alibaba Stock and Offers 30% Upside in 2018

JD.com Said to be Better Deal Versus Alibaba Stock and Offers 30% Upside in 2018

October 19, 2017 at 1:58 pm 0 comments

JD.com (JD) could surge 30% or more in 2018 and is a better deal for investors relative to the Alibaba Group (BABA), according to a report from Barron’s. The report published on Sunday said a recent decline in JD.com’s gross profit margin was not worrisome as it was because of heavy promotional activity as well as the company’s amended wayRead More

US Dollar Firms up into NY Open

US Dollar Firms up into NY Open

October 17, 2017 at 1:46 pm 0 comments

The U.S. dollar firmed up into the New York open, with EUR/USD falling under 1.1810 on mixed reports that the European Central Bank may cut quantitative easing purchases levels, while extending the duration of the program. USD/JPY recovered the 112 handle after finding support into its 200-day moving average of 111.82. The U.S. calendar is headlined by September consumer priceRead More

Citigroup Gets Boost to Price Target From RBC to $79 From $75

Citigroup Gets Boost to Price Target From RBC to $79 From $75

October 17, 2017 at 1:44 pm 0 comments

Citigroup (C) received an increase to its price target from RBC Capital Markets after the bank on Thursday reported Q3 earnings per share and revenue above the firm’s expectations. The new price target from RBC is $79 per share, up from $75. This compares with a Thursday closing price of $72.37, down 3.4% on the day, as Citi’s adjusted earningsRead More

Headline PPI Rises In Line While Core Hotter-Than-Expected

Headline PPI Rises In Line While Core Hotter-Than-Expected

October 16, 2017 at 2:59 pm 0 comments

The hurricane-boosted 0.4% September U.S. producer price index (PPI) headline was in line, while core price gains beat estimates thanks to a firm 0.4% service price increase, with price gains of 0.8% for trade services and 1.0% for transportation and warehousing services. There was the largely expected 0.7% goods price gain with a 3.4% energy price surge, alongside a flatRead More

Opko Health Strikes Deal For Japan Tobacco to Develop

Opko Health Strikes Deal For Japan Tobacco to Develop

October 16, 2017 at 2:59 pm 0 comments

Opko Health Inc (OPK) shares were higher nearly 2% in recent pre-market trading after the company said it has struck a deal with Japan Tobacco to develop and commercialize its Rayaldee in Japan for treatment of secondary hyperparathyroidism in non-dialysis and dialysis patients with chronic kidney disease. Under the terms, Japan Tobacco will pay an upfront payment of $6 million.Read More