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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 software stocks and a nuclear energy play were among the names being talked about by analysts on Monday. Raymond James downgraded Palantir to market perform, citing a rich valuation. Meanwhile, Morgan Stanley raised its price target on Constellation Energy to $313m implying more than 20% upside. Check out the latest calls and chatter below. All times ET. 5:47 a.m.: Raymond James downgrades Palantir It may be time to move to the sidelines when it comes to Palantir , according to Raymond James. Citing a strong performance, the firm downgraded the software stock to market perform from outperform. Analyst Brian Gesuale also removed his price target of $30. “While we remain enthusiastic about Palantir’s longer term positioning in AI, we are downgrading our rating to Market Perform from Outperform given our view that shares need to consolidate stellar gains over the last couple of years and grow into its rich valuation,” he elaborated. “Valuation has expanded ~fivefold making it the richest software name amongst comps at 26.1x FY25 sales.” Shares of Palantir have soared 117% in 2024. PLTR YTD mountain PLTR year to date While a high valuation may be the stock’s biggest near-term obstacle, Gesuale is optimistic on the company’s potential in the long run as an artificial intelligence beneficiary. “Geopolitical instability and global AI arms race provide improving long term visibility for Palantir that should pave the way for ongoing growth in the ~20% range over the next few years,” Gesuale added. — Lisa Kailai Han 5:47 a.m.: Morgan Stanley raises Constellation Energy price target Constellation Energy’s new nuclear power deal primes the stock for strong gains ahead, according to Morgan Stanley. Analyst David Arcaro raised his price target on shares to $313 from $233. The new forecast points to nearly 23% upside. Constellation Energy on Friday announced it would restart the Unit 1 reactor at Three Mile Island, with the intention to sell that power to Microsoft for its data center needs . The stock rallied more than 22% on the news — bringing its year-to-date advance to 118%. CEG YTD mountain CEG year to date “This is an attractive deal for CEG,” Arcaro wrote. “Operational risk to bring the plant online appears manageable, the contract is very long (20yrs) and with a strong counterparty. Bringing nuclear online supports the grid, with no emissions and 24×7 operations, and the move has generated strong political support.” Wells Fargo analyst Neil Kalton also hiked his price target on the stock to $300, implying nearly 18% upside ahead. — Fred Imbert
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https://www.cnbc.com/2024/09/23/analyst-calls-all-the-market-moving-wall-street-chatter-from-monday.html
