Midday movers: Coinbase falls; Pfizer and Moderna rise

Coinbase (COIN): Coinbase Derivatives has successfully launched Bitcoin Cash and Litecoin futures contracts

Coinbase (NASDAQ: COIN): Coinbase Derivatives has successfully launched Bitcoin Cash and Litecoin futures contracts (LINK)

Morgan Stanley's Adam Jonas: 'Tesla and Nvidia: The Journey to AI Supremacy' (TSLA) (NVDA)

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $310.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "In the journey to AI supremacy, there are a number of attributes and gating factors that investors are increasingly locked in on: 1. Data. Tesla recently achieved 1bn miles traveled for its full self-driving (FSD) service. Tesla's fleet drives more miles in 5 minutes than Apple's (now cancelled) autonomous fleet had reportedly driven in a year. By 2030, we estimate Tesla's global vehicle fleet will approach 40 million units in service, driving over 400 billion miles per year. Over 1... More

BP (BP) PT Raised to $42 at Wells Fargo

Wells Fargo analyst Roger Read raised the price target on BP (NYSE: BP) to $42.00 (from $38.00) while maintaining a Equal Weight rating.

The analyst comments "We trim our Q1'24 EPS estimate to $1.03 on its initial quarterly trading statement (6-K filing), which we... More

Coinbase Global Inc. (COIN) PT Raised to $110 at BofA Securities

BofA Securities analyst Jason Kupferberg raised the price target on Coinbase Global Inc. (NASDAQ: COIN) to $110.00 (from $92.00) while maintaining a Underperform rating.

The analyst comments "On Wednesday 3/27, a federal judge denied COINs motion to dismiss the SECs lawsuit alleging 13 non... More

BofA on Tesla (TSLA): 'We think that Tesla will face mounting profit pressure'

BofA on Tesla (NASDAQ: TSLA): 'We think that Tesla will face mounting profit pressure'.

The analyst comments "We think that Tesla will face mounting profit pressure from a weaker demand environment. Unless TSLA taps into new geographical markets, we see it hard... More

Tesla (TSLA): Analysts at Jefferies, Piper Sandler see 2024 sales drop

Both Piper Sandler and Jefferies analysts see Tesla's (NASDAQ: TSLA) 2024 sales declining following last week's disappointing first-quarter delivery numbers.

Piper Sandler analysts maintained an Overweight rating but cut their price target for Tesla to $205 per share from $225 per share.

In a research note, the firm told investors that they now expect 1.799 million deliveries in 2024, a... More

Tesla (TSLA) PT Lowered to $205 at Piper Sandler

Piper Sandler analyst Alexander Potter lowered the price target on Tesla (NASDAQ: TSLA) to $205.00 (from $225.00) while maintaining a Overweight rating.

The analyst comments "We're writing this report for two reasons. First, we're cutting our estimates and DCF based price target, to reflect... More

Tesla (TSLA) PT Lowered to $165 at Jefferies

Jefferies analyst Philippe Houchois lowered the price target on Tesla (NASDAQ: TSLA) to $165.00 (from $185.00) while maintaining a Hold rating.

The analyst comments "More drama into Q1 results, with recurring questions about product priorities and leadership. We reduce FY EBIT/EPS c.30% to... More

Is Tesla Robotaxi the first step in shifting the core business? Morgan Stanley answers

With Tesla (NASDAQ: TSLA) CEO Elon Musk tweeting last week that the electric vehicle giant will unveil its robotaxi on August 8, Morgan Stanley analysts questioned in a note whether it could be the first step in shifting the core business.

The announcement coincided with a Reuters report that the company is delaying the launch of its highly anticipated affordable Model 2 EV. However, Musk quickly dismissed the article from... More

After TSM, this chipmaker is the favorite to 'a significant grant' - Citi

Analysts at Citi highlighted one chipmaker they expect to receive a "significant grant" after the U.S. government announced a grant to Taiwan Semi (NYSE: TSM) on Monday.

The U.S. Department of Commerce announced that TSMC will receive up to $6.6 billion in... More

Tilray, Inc. (TLRY) stock plunges after cutting guidance

Tilray, Inc. (NASDAQ: TLRY) shares plummeted 21% after the company reported a wider-than-expected loss for the third quarter and lowered its full-year adjusted EBITDA guidance. The cannabis and beverage-alcohol company posted an adjusted third-quarter loss of -$0.12 per share, missing analysts' estimates of -$0.05. Revenue also fell short of expectations, coming in at $188.3 million against the consensus estimate of $198.44 million.

Despite a significant increase in net revenue of approximately 30% YoY, from $145.6 million in the same quarter last year, Tilray's results did not meet market expectations. The company's beverage-alcohol net revenue saw... More