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(This is CNBC Pro’s live coverage of Monday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A tech giant and an energy name were among the stocks being talked about by analysts on Monday. Evercore ISI lowered its price target on Alphabet to $200 from $225 , citing antitrust worried. Meanwhile, Barclays initiated GE Vernova with an overweight rating. Check out the latest calls and chatter below. All times ET. 5:49 a.m.: Barclays initiates GE Vernova at overweight GE Vernova is a strong play going forward, according to Barclays. The bank initiated the energy stock with an overweight rating and set a price target of $250, which is approximately 11% higher than where shares closed on Friday. GE Vernova spun off from General Electric in April of this year. Shares of the new entity have rallied 72% since then. Analyst Julian Mitchell nodded to the stock’s potential for organic growth going forward, for which investors have already demonstrated they are willing to pay handsomely for. GEV YTD mountain GEV year to date “We think this high growth profile will yield valuation multiple upside as well as positive consensus estimate revision momentum,” he wrote. Additionally, Mitchell pointed to GE Vernova having the “right kind” of capex exposure as a plus. “We think that Electric Utility capex represents one of the most attractive markets within MI, given the stronger pricing outlook for Electric Utilities, and the somewhat brighter outlook for electricity consumption in the US in particular, where GEV has outsized market shares across most of its product categories,” he said. Meanwhile, Mitchell remained optimistic that electricity demand in the United States would grow and pointed to data center demand as one such growth driver. — Lisa Kailai Han 5:49 a.m.: Evercore ISI trims Alphabet price target Alphabet’s antitrust issues will limit upside going forward, according to Evercore ISI. The firm reiterated its outperform rating on the Google parent. However, analyst Mark Mahaney lowered his price target on the stock to $200 from $225. The new forecast implies upside of 27%. “We believe probable medium-term uncertainty over the DOJ anti-trust trials and their likely remedies will limit the potential for any near-or-medium-term material re-rating,” Mahaney wrote. “We believe a ‘worst case’ scenario is a more likely scenario than the market assumes.” “‘Worst case’ scenario would be where Google is no longer allowed to bid for exclusive Search distribution deals in the U.S., and another company (i.e. Microsoft) ‘buys out’ the exclusive Search distribution deals, leading to a material (20% – 50%+) share loss by Google on the Search access points covered by those distribution deals,” he added. “Key, however, is that even in a ‘worst case’, 60% share loss, the impact to GOOGL EPS could still only be in the single-digit % range, given the likely material savings in TAC (Traffic Acquisition Costs).” Alphabet shares are up more than 12% year to date. GOOGL YTD mountain GOOGL year to date — Fred Imbert
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https://www.cnbc.com/2024/09/16/analyst-calls-all-the-market-moving-wall-street-chatter-from-monday.html
