1. Real Brokerage initiated with a Buy at BTIG

BTIG initiated coverage of Real Brokerage (REAX) with a Buy rating and $6 price target. The cloud-based real estate broker is positioned to outperform in a recovering housing market, or even a sideways market, with “big payouts drawing agents and driving market share,” the analyst tells investors. With a differentiated model and “generous” comp structure, Real Brokerage is attracting agents and growing rapidly, says the firm, which views the stock’s high relative EBITDA multiple as justified by strong growth.

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Read More on REAX:

• DOJ says realtor group settlement could harm competition, Reuters reports
• Real Brokerage Inc. Reports Robust Q3 2024 Growth
• Real Brokerage Reports Strong Growth and Innovations
• Real Brokerage Reports Strong Q3 Growth and Innovations
• Real Brokerage reports Q3 EPS (1c), consensus (3c)

2. Expedia upgraded to Buy from Neutral at BofA

BofA analyst Justin Post upgraded Expedia (EXPE) to Buy from Neutral with a $221 price target

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Read More on EXPE:

• Expedia price target raised to $180 from $170 at JPMorgan
• Salesforce upgraded, ServiceNow downgraded: Wall Street’s top analyst calls
• Expedia initiated with a Market Perform at CICC
• Expedia appoints Shilpa Ranganathan as Chief Product Officer
• Expedia director sells $1.85M in common stock

3. Pfizer price target raised to $28 from $27 at Wells Fargo

Wells Fargo raised the firm’s price target on Pfizer (PFE) to $28 from $27 and keeps an Equal Weight rating on the shares. With better-than-expected EPS guidance largely driven by expense management and better COVID outlook, the firm still thinks Pfizer has a topline problem as it enters an loss of exclusivity period through the end of the decade.

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Read More on PFE:

• Pfizer’s 2025 guidance positions company for EPS expansion, says BMO
• Barclays fact-checked Trump comments on pharmacy benefit managers
• Pfizer provides FY25 outlook, McCormick in talks for Sauer Brands: Morning Buzz
• Pfizer (NYSE:PFE) Surges as FY25 Forecast Aligns with Wall Street
• Early notable gainers among liquid option names on December 17th

4. Organigram’s Strong Fiscal Growth and Market Leadership

OrganiGram Holdings (TSE:OGI) has released an update.

Organigram Holdings, a leading cannabis producer, reported a 17.6% growth in recreational sales for fiscal 2024, with net revenue reaching $159.8 million. The company achieved a 37% adjusted gross margin and a significant 55% increase in adjusted EBITDA compared to the previous fiscal year. Following the acquisition of Motif Labs, Organigram became Canada’s largest cannabis company by market share.

For further insights into TSE:OGI stock, check out TipRanks’ Stock Analysis page.

Highlights:

• Organigram reported a 17.6% growth in recreational sales.
• Following Motif Labs acquisition, Organigram leads Canada’s cannabis market.
• Follow the recommendations of top-performing analysts.

5. Goldman Sachs Ups Price Target on Super Micro Computer despite Nasdaq Ouster

Goldman Sachs analyst Mike Ng reiterated a Hold rating on Super Micro Computer (SMCI) stock and raised the price target to $32 from $28, implying a 5.3% downside. SMCI faces challenges including removal from the Nasdaq-100, potential additional stock or debt issuance, and accounting controversies. Yet, it continues strong server revenue growth, especially in AI servers, and plans large-scale adoption of direct liquid cooling (DLC) technology. While delisting risks loom, SMCI’s valuation is currently lower than industry averages, suggesting undervaluation. Analysts remain mostly cautious, waiting for clarity on financial allegations and possible delisting issues.

Highlights:

• Goldman Sachs maintains Hold rating on SMCI, cuts price target to $32.
• SMCI facing removal from Nasdaq-100, potential delisting risks.
• Strong AI server demand & DLC adoption boost SMCI’s sales and margins.
• Cautious investor stance pending financial resolution and reduced delisting risk.

See more SMCI analyst ratings

6. KeyBanc upgrades Q2 to Overweight with ‘meat left on the bone’

KeyBanc upgraded Q2 Holdings (QTWO) to Overweight from Sector Weight with a $126 price target. The firm cites the company’s durable subscription revenue growth and potential for more bank mergers. Q2’s revenue growth has “some meat left on the bone,” says the analyst. Bank mergers are seen as a “call option” medium-term, with a higher likelihood of deals under the incoming administration, supporting improved growth prospects.

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Read More on QTWO:

• Q2 Holdings upgraded to Overweight from Sector Weight at KeyBanc
• Q2 Holdings says First Pacific Bank selects digital banking platform
• Q2 Holdings announces enhanced partnership with Larky
• Q2 Holdings price target raised to $86 from $76 at DA Davidson
• Q2 Holdings price target raised to $105 from $76 at RBC Capital

7. Hilton Grand Vacations price target lowered to $50 from $55 at JMP Securities

JMP Securities analyst Aaron Hecht lowered the firm’s price target on Hilton Grand Vacations (HGV) to $50 from $55 and keeps an Outperform rating. Q3 adjusted EBITDA missed consensus. Management reiterated FY24 guidance but sees results trending toward the low end. JMP believes better sales conversions are possible as the sales force stabilizes, improving EBITDA and multiple expansion by 2025-2026.

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Read More on HGV:

• Salesforce upgraded, ServiceNow downgraded: Wall Street’s top analyst calls
• Hilton Grand Vacations downgraded to Equal Weight from Overweight at Barclays
• Hilton Grand Vacations price target raised to $37 from $33 at Goldman Sachs
• Hilton Grand Vacations 4M share Block Trade priced at $42.25
• Hilton Grand Vacations price target lowered to $51 from $52 at Truist

8. KalVista initiated with a Buy at BofA

BofA initiated coverage of KalVista (KALV) with a Buy rating and $22 price target. KalVista’s lead candidate, sebetralstat, is the potential first oral, on-demand HAE treatment. A completed Phase 3 showed efficacy similar to injectables but with oral dosing convenience. BofA assigns 75% U.S. success odds and estimates $604M peak risk-adjusted sales by 2035. The firm sees the stock “highly oversold.”

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Read More on KALV:

• KalVista Pharmaceuticals Appoints New COO Amid Strategic Growth
• KalVista appoints Jeb Ledell as COO
• KalVista price target lowered to $33 from $35 at JonesResearch
• KalVista Pharmaceuticals Reports Progress in HAE Treatment
• KalVista reports Q2 EPS (91c), consensus (91c)

9. Compass Pathways to be added to Nasdaq Biotechnology Index at open on 12/23

Compass Pathways (CMPS) announced its common stock will be added to the Nasdaq Biotechnology Index on December 23.

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Read More on CMPS:

• Rising High: Organigram acquires Motif Labs for C$90M upfront
• Rising High: Cannabis firms report quarterly earnings
• Rising High: Numinus Wellness to sell five Utah clinics for $3.53M
• Atai Life Sciences price target lowered to $10 from $15 at H.C. Wainwright
• Rising High: Exclusive talk with house of brands Carma HoldCo

10. KeyBanc upgrades Bill, says ‘on the road to recovery’

KeyBanc upgraded Bill (BILL) to Overweight from Sector Weight with a $115 price target. “Hopping back on the BILL train,” the firm cites Bill’s execution and minimal impact from Intuit’s competition. KeyBanc says Bill is “on the road to recovery.”

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Read More on BILL:

• Bill upgraded to Overweight from Sector Weight at KeyBanc
• Bill price target raised to $75 from $64 at Mizuho
• Bill price target raised to $120 from $100 at Deutsche Bank
• Bill price target raised to $100 from $75 at Keefe Bruyette
• Bill price target raised to $100 from $74 at Baird

11. Fox Corp. price target raised to $58 from $50 at Citi

Citi analyst Jason Bazinet raised the firm’s price target on Fox Corp. (FOXA) to $58 from $50 and keeps a Buy rating. Citi updated Fox’s model ahead of Q2. The valuation rolled forward to 2026 and the free cash flow multiple expanded. Fox’s portfolio positions it well for industry changes, says the analyst.

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Read More on FOXA:

• Fox Corp’s portfolio positions it well for industry changes, says Goldman Sachs
• FOX News says saw ‘record’ month on YouTube, driving 400M video views in Nov.
• Comcast (NASDAQ:CMCSA) Fights Back Against Slumping News Ratings
• Nevada commissioner rules against Murdoch bid to change family trust, NYT says
• Fox, Hulu extend streaming deal with $1.5B pact, Deadline reports

12. Micron price target lowered to $120 from $140 at Bernstein

Bernstein lowered the firm’s price target on Micron (MU) to $120 from $140 and keeps an Outperform rating. Memory and China remain controversies, but HBM growth could propel near-record 2025 profits. Bernstein sees Memory as the most controversial within its coverage for 2025, anticipating debates over mainstream memory markets and Chinese competition.

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Read More on MU:

• 3 Best Stocks to Buy Now, 12/18/2024, According to Top Analysts
• Micron or AMD: Which is the better AI chip stock to buy?
• Micron’s (MU) Stellar 2024: Why the Stock Refuses to Break Out
• White House to target Chinese chips with trade probe, NY Times reports
• All Eyes on Micron Stock Ahead of Earnings — Here’s What Stifel Expects

13. New Found Gold appoints Americas Gold and Silver CEO Paul Huet as chairman

New Found Gold (NFGC) welcomed Paul Huet, William Hayden, and Melissa Render to its board. At the recent AGM, Paul Huet was appointed chair, and Melissa Render as president. The board now includes Huet, Collin Kettell, Vijay Mehta, William Hayden, and Melissa Render. Huet is CEO of Americas Gold and Silver (USAS).

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Read More on NFGC:

• New Found Gold Corp. Reports Q3 2024 Financial Results
• New Found Gold Uncovers High-Grade Gold in Newfoundland
• New Found Gold Expands Queensway Project Exploration
• New Found Gold Begins Key Assessment for Queensway Project
• New Found Gold’s Promising Extraction Results at Queensway

14. JetBlue price target raised to $7.60 from $6.85 at Citi

Citi raised the firm’s price target on JetBlue (JBLU) to $7.60 from $6.85 and keeps a Neutral rating following a model update. The firm factors in stronger Q4 revenue per available seat mile and slightly lower jet fuel expense into forecasts.

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Read More on JBLU:

• JetBlue put volume heavy and directionally bearish
• JetBlue opens Crew Base in San Juan’s Luis Munoz Marin International Airport
• JetBlue call volume above normal and directionally bullish
• JetBlue (NASDAQ:JBLU) Surges on New “Junior Mint” Section
• Reddit initiated, GE Vernova downgraded: Wall Street’s top analyst calls

15. FinWise Bancorp initiated with an Outperform at Raymond James

Raymond James analyst Joseph Yanchunis initiated coverage of FinWise Bancorp (FINW) with an Outperform rating and $21 price target.

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Read More on FINW:

• FinWise Bancorp to Expand in 2024 with Fintech Focus
• FinWise Bancorp price target raised to $18 from $17 at Stephens
• Is FINW a Buy, Before Earnings?

16. 4D Molecular price target lowered to $46 from $79 at BofA

BofA lowered the firm’s price target on 4D Molecular (FDMT) to $46 from $79 but maintains a Buy rating. Still bullish on its lead gene therapy, BofA lowers sales forecasts as it awaits more clinical data and clarity on market dynamics. Gene therapy could still offer longer durability than other soon-to-arrive treatments, and the stock is considered “highly oversold.”

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Read More on FDMT:

• 4D Molecular announces publication of 4D-150 preclinical data
• 4D Molecular initiated with an Underweight at Morgan Stanley
• 4D Molecular Therapeutics’ Positive Q3 and Strategic Advances
• 4D Molecular reports Q3 EPS (79c), consensus (70c)

17. Pembroke VCT Completes Share Allotment in £40 Million Subscription Offer

Pembroke VCT (GB:PEMB) allotted over 5 million B Ordinary Shares under its subscription offer, aiming to raise up to £40 million, plus a £20 million over-allotment. Shares priced between 102.23p and 108.24p, lifting total voting rights to 228,094,085. Applications for LSE listing are underway, with trading expected by 23 December 2024.

Highlights:

• Pembroke VCT allotted over 5 million shares in a subscription offer.
• Shares to list on LSE by 23 December 2024.
• Follow top-performing analysts.

18. Leadership Transition at Arrowhead Pharmaceuticals’ Board

Arrowhead Pharmaceuticals (ARWR) announced Douglass Given, M.D., Ph.D., is retiring from its board after fourteen years, effective December 31, 2024. The company plans to appoint Douglas S. Ingram, CEO of Sarepta Therapeutics, in early 2025, coinciding with their Exclusive License and Collaboration Agreement closing. This leadership shift aims to strengthen Arrowhead’s strategic direction in the biotech market.

Highlights:

• Douglass Given retires after 14 years on Arrowhead’s board.
• Douglas S. Ingram (Sarepta CEO) to join board in early 2025.
• Follow top-performing analysts.

19. Reviva Pharmaceuticals Strengthens Financial Position with Offering

Reviva Pharmaceuticals (RVPH) entered an underwriting agreement with Citizens JMP Securities for an $18 million public offering of common stock and warrants. Proceeds will fund R&D, working capital, and general corporate purposes, bolstering Reviva’s liquidity and drug development pipeline.

Highlights:

• Reviva raises $18 million via offering with Citizens JMP Securities.
• Funds target R&D and general corporate use.
• Follow top-performing analysts.

20. TIM S.A. Outlines Strategic Plans and Financial Distributions for 2025

TIM (TIMB)’s board approved a R$650 million distribution as interest on shareholders’ equity and set its 2025-2027 budget and industrial plan. The meeting covered committee reports, a health partnership update, and cyber security measures. These steps aim to bolster TIM’s market position and efficiency entering 2025.

Highlights:

• TIM approves R$650 million shareholder distribution.
• Unveils 2025-2027 industrial plan and budget.
• Follow top-performing analysts.

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Gold prices rose in European trade on Wednesday away from a recent one-week low, amid active short-covering while US treasury yields stalled. 

The gains are still limited as investors shun big positions before the Federal Reserve’s policy decisions later today, highly expected to cut interest rates for the third time this year.

Prices 

Gold prices rose 0.2% to $2,651.80 an ounce, with a session-low at $2,642. 

On Tuesday, gold lost 0.3% and hit a week low at $2633.13.

US Yields 

US 10-year treasury yields dipped 0.2% on Wednesday and backed away from a four-week high at 4.442%, in turn boosting non-yielding assets.

The cautious developments come amid expectations the Federal Reserve will likely hint at maintaining interest rates unchanged in January.

US Rates

According to the Fedwatch tool, the odds of a 0.25% interest rate cut by the Federal Reserve next week stood at 97%. 

The Federal Reserve will conclude its last periodic policy meeting later today, and is fully expected to cut interest rates by 25 basis points.

The Fed will provide important clues on the path of US monetary policies and interest rates throughout 2025.

SPDR

Gold holdings at the SPDR Gold Trust were unchanged yesterday at 864.19 tons.

Sterling rose in European trade on Wednesday against a basket of major rivals, rising for the third straight session against the US dollar after US consumer prices data, which showed inflation rose for the second straight month. 

As inflationary pressures resume, the Bank of England policymakers are likely to hold off cutting interest rates at this week’s policy meeting. 

The Price

The GBP/USD pair rose over 0.1% to $1.2727, with a session-low at $1.2680.

The pair closed up 0.25% on Tuesday on track for the second straight profit, moving away from two-week lows at $1.2608.

The pound gained ground after strong UK wages data for October. 

UK Inflation 

UK consumer prices rose 2.6% y/y in November, matching expectations, and up from 2.3% in October.

Core prices, excluding food and energy, rose 3.5%, below estimates of 3.6%, but up from 3.3% in October. 

Services prices rose 5% in November, same as October.

The data showcases the strength of the inflationary pressures in the UK and will likely lead to a longer period of tight monetary policies. 

UK Rates

Following the data, the odds of a 0.25% interest rate cut by the Bank of England plummeted to just 2%.

The UK interest rate futures market is now expecting a total of 60 basis points of rate cuts by the BOE by the end of 2025, down from 61% before inflation data.

UK consumer prices rose 2.6% y/y in November, matching expectations, and up from 2.3% in October.

Core prices, excluding food and energy, rose 3.5%, below estimates of 3.6%, but up from 3.3% in October.