Financial News · Live Terminal

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CIBC Confirms Outperformer Rating on Bird Construction and Raises Target to $65.00

CIBC Capital Markets maintained its outperformer rating on the shares of Bird Construction (BDT.TO) and raised its price target to C$65.00 from $61.00 after the bank hosted the company for a dinner with its Chief Financial Officer Wayne Gingrich.The bank's key takeaway is that the company's long-term growth outlook continues to improve, supported by increasing visibility on the data-center opportunity, particularly through its strategic partnership with Bell, as well as multiple levers to drive margin expansion above its 8% 2027 target."When combined with the company's self-perform capabilities, growing defense/Arctic opportunity set, and continued M&A optionality, we remain constructive on the name," said analyst Krista Friesen.Price: $59.53, Change: $+0.73, Percent Change: +1.24%

$BDT.TO

Wire50d ago

JPMorgan Adjusts Price Target on News to $36 From $35, Maintains Overweight Rating

News (NWSA) has an average rating of buy and mean price target of $35.63, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $25.88, Change: $-0.02, Percent Change: -0.06%

$NWSA

Treasury50d ago

Canada's Trade Diversification Target Has A Scale Problem, Says National Bank

Statistics Canada's 2025 goods-exporter data underscore the scale problem embedded in the country's ambition to double non-United States exports within the next decade, said National Bank of Canada.Canada counts nearly 48,000 goods-exporting enterprises, but 82% of them employ fewer than 50 workers despite accounting for only 14.3% of total goods exports, while firms with 500 or more employees represent a tiny fraction of exporters but close to 60% of export value, noted the bank.This is not a marginal complication, stated National Bank. Diversification isn't simply a matter of redirecting shipments away from the U.S. market, as it requires financing, compliance capacity, distribution networks, international-market intelligence, currency-risk management and the ability to withstand a long sales cycle before new relationships become profitable.For smaller firms, the constraint is structural because many are embedded in North American supply chains built around proximity, recurring customer relationships, integrated logistics and production specifications that are not easily replicated overseas.The irony is that Canada's target may be easier to meet in aggregate than in substance, pointed out the bank. Canada can raise non-U.S. export values through commodities and other scale-intensive sectors where global demand is deep, and output is more readily redirected across markets.However, that path does less for the employment-intensive parts of the export base, where supply chain links are stickier and diversification costs are proportionally higher. The result is a policy tension that could be masked by the headline gross domestic product.A resource-led export pivot may improve the arithmetic of diversification while smaller exporters face higher costs, thinner margins and greater risk of lost capacity. If building scale is part of the desired outcome, then trade policy cannot be separated from the domestic incentives that shape firm size, the bank added.

$CXY

Wire50d ago

Royal Caribbean Faces Reduction in 2028 EPS After Mexico Rejects Perfect Day Project, Morgan Stanley Says

Royal Caribbean (RCL) is facing a reduction in earnings for 2028 and beyond following Mexico's decision to deny an environmental permit to the company's Perfect Day Mexico project, Morgan Stanley said in a Friday note.Morgan Stanley said it reduced its 2028 EPS growth estimate to 12% from 20%, and its 2025 to 2030 EPS compound annual growth rate to 13% from 15%.The company was expecting significant earnings gains beginning in 2028 from the proposed 200-acre Perfect Day development at Costa Maya in Quintana Roo, Morgan Stanley said, adding it had assumed 3 million passengers in 2028 rising to 5 million by 2030, each spending around $100 and boosting fleet ticket prices in the high single digits.Looking ahead, the company has two plausible paths to recovery, namely a revised environmental application that satisfies the government's concerns or finding an alternative less ecologically sensitive location, according to the note. Either would mean significant delays, the analysts said.Morgan Stanley lowered its Royal Caribbean price target to $280 from $310 and maintained its equal-weight rating.Price: $265.51, Change: $+9.41, Percent Change: +3.67%

$RCL

Wire50d ago

BioRestorative Completes Dosing in Phase 2 Trial of BRTX-100 to Treat Chronic Lumbar Disc Disease; Shares Rise

BioRestorative Therapies (BRTX) said Tuesday it has completed dosing in its phase 2 trial assessing BRTX-100 to treat chronic lumbar disc disease.The move advances the study into the next stage of blinded follow-up before planned topline safety and efficacy results in Q2 2027, the company said.The trial enrolled about 99 people in the US and is designed to assess the safety and preliminary efficacy of BRTX-100 in people with painful chronic lumbar disc disease, BioRestorative said.The company said it is continuing phase 3 trial readiness projects following Type B meeting alignment with the US Food and Drug Administration.BioRestorative shares were up 20% in Tuesday late morning trading.Price: $0.26, Change: $+0.05, Percent Change: +24.04%

$BRTX

Insider Trading50d ago

Levi Strauss Insider Sold Shares Worth $4,567,914, According to a Recent SEC Filing

Robert D. Haas, 10% Owner, on May 21, 2026, sold 207,549 shares in Levi Strauss (LEVI) for $4,567,914.SEC Filing:https://www.sec.gov/Archives/edgar/data/94845/000149315226025191/xslF345X05/ownership.xmlPrice: $22.71, Change: $+0.69, Percent Change: +3.13%

$LEVI

Wire50d ago

NetApp Poised for Better-Than-Expected Fiscal Q4 on Higher Prices, AI Demand, Wedbush Says

NetApp (NTAP) is expected to report better-than-expected fiscal Q4, driven by higher pricing and possible artificial intelligence-related deal wins, Wedbush Securities said in a note Tuesday.NetApp reports Q4 earnings after the market close on Thursday.The analysts said the company's fiscal Q4 sales are projected to "easily" top expectations. Bit shipments are expected to meet forecasts, while system pricing increased during the quarter. NetApp also appears to have raised prices early enough to limit pressure on gross margins because it was still using some lower-cost bits. Stronger pricing is also expected to support a positive fiscal Q1 guidance.There are also signs that NetApp won a few large deals late in the quarter, possibly tied to AI-related demand, the analysts said, adding that while they do not yet see the company as having a competitive AI product offering, management may discuss growing traction in AI during the earnings call."We see reasons to believe NetApp results should improve in the near-term. However, we also believe the stock has moved to reflect the expectation, and we don't see some of the structural tailwinds that make us more positive," the analysts said.Wedbush Securities reiterated its neutral rating and $115 price target on NetApp.Price: $138.18, Change: $-1.18, Percent Change: -0.85%

$NTAP

Wire50d ago

Snowflake Well-Positioned to Benefit From Rising AI Demand, Wedbush Says

Snowflake (SNOW) is a "strong" second-derivative player in the artificial intelligence revolution and is "well-positioned" to benefit from rising enterprise demand for AI applications as more workloads move to the cloud over the next 12 to 18 months, Wedbush Securities said in a company report Monday.The brokerage said it expects "another robust quarter" of growth when Snowflake reports fiscal Q1 results after the bell on May 27, as Wall Street's revenue estimate of $1.32 billion appears "conservative."Wedbush analysts cited continued strength in Snowflake's core data warehousing business and growing enterprise demand for secure, governed and auditable data infrastructure to support AI workloads.The brokerage also highlighted Snowflake's $9.77 billion remaining performance obligations backlog and its expanding customer base of more than 13,000 clients as indicators of future growth.Snowflake's "model-agnostic" platform allows enterprises to work with AI models from companies such as Amazon-backed (AMZN) Anthropic and Microsoft-backed (MSFT) OpenAI without re-architecting data pipelines, reinforcing its role as a "trusted" layer between enterprise data and AI systems, the brokerage said.Wedbush maintained an outperform rating on Snowflake, with a price target of $270.Shares of Snowflake were up 3.9% in Tuesday trading.Price: $178.97, Change: $+6.77, Percent Change: +3.93%

$AMZN$MSFT$SNOW

Mining & Metals50d ago

CIBC Raises Agnico Eagle Mines Price Target to US$310 from US$304

CIBC Capital Markets on Monday maintained its outperformer rating on shares of Agnico Eagle Mines (AEM.TO, AEM) while raising its price target to US$310 from US$304.The investment bank said higher price target reflects the results of a preliminary economic assessment for the Hope Bay project in Nunavut, fine-tuning the effective tax rate at the Meliadine project, and the miner's favorable first-quarter results.Agnico recently hosted a site tour of the two projects in Nunavut, where the company highlighted its two decades of experience in the territory.At Meliadine, Agnico highlighted its environmental stewardship, approach to human resource management, efforts toward continuous improvements at site, and recent mine life extension to 2036 from 2032.The company plans to apply all of these learnings to advance Hope Bay, including a similar mill blueprint from Meliadine for Hope Bay's mill, CIBC said.Price: $247.01, Change: $-7.02, Percent Change: -2.76%

$AEM$AEM.TO

Wire50d ago

Autodesk Likely to Deliver Solid Q1, Morgan Stanley Says

Autodesk (ADSK) will likely post solid Q1 results with a modest upside versus consensus estimates and a raised outlook, Morgan Stanley said in a note Tuesday. The results are due May 28."Stable reseller checks support a solid Q1 with modest upside to Street forecasts," the report said.The note said a stable demand backdrop, margin expansion driving free cash flow growth, and its defensible vertical software positioning amid AI-related multiple compression should support a re-rating of the stock from current discounted levels."With a differentiated competitive moat, sticky platform across multiple areas, and limited AI-narrative overhang, we remain Overweight," the report said.Still, Morgan Stanley cut its price target to $315 from $350, citing recent market volatility across software universe.Price: $238.52, Change: $-2.47, Percent Change: -1.02%

$ADSK

Wire50d ago

Pershing Square's Resilient Model Offset by Elevated Valuation, Oppenheimer Says

Pershing Square (PS) has a highly resilient and differentiated business model, but its valuation appears elevated at current levels, Oppenheimer said in a Tuesday note.The analysts noted that around 97% of fee paying assets under management are in permanent capital vehicles, mainly closed-end funds that are not exposed to redemptions and typically maintain concentrated equity portfolios over long durations.Oppenheimer said the structure blends elements of private equity, hedge funds, and business development companies, but stands out for its equity-focused approach and its ability to recycle realized gains into new investments over time.The performance depends on assumed portfolio returns of about 15% annually, seen as a key but debatable driver of long-term compounding, while noting that fundraising may remain limited as funds trade below NAV, reducing near-term growth visibility and supporting a cautious outlook, the report added.Oppenheimer initiated coverage with a perform rating.Shares of Pershing Square were up more than 3% in Tuesday trading.Price: $36.88, Change: $+1.21, Percent Change: +3.39%

$PS

Wire50d ago

Denali Therapeutics' Focus Shifts to Other Pipeline Assets After Phase 2b Study Failure, Morgan Stanley Says

Denali Therapeutics' (DNLI) investors will now look at its other pipeline assets and broader platform validation after its phase 2b trial for BIIB122 treating idiopathic Parkinson's disease failed to meet the primary and secondary endpoints, Morgan Stanley said in a Friday note.Despite clear target engagement, the lack of clinical benefit has led to the halt of BIIB122 development in idiopathic Parkinson's disease, according to the note. Denali will independently continue development of the phase 2a study for the drug, now called DNL151, in carriers of a pathogenic LRRK2 variant, according to the note.The company's TransportVehicle platform is designed to enable large-molecule biologics to cross into the brain, in contrast with the small-molecule approach of the original trial, Morgan Stanley analysts noted.In the new phase 2a study, clinical efficacy remains unproven, and biomarker success may not result in positive outcomes, according to the note. The new study is not likely to offset the failure of the original trial in the near term, the analysts said.Morgan Stanley revised its 2026 GAAP EPS estimates to $2.80 from $2.93, 2027 estimates to $2.07 from $2.63, and 2028 estimates to $1.72 from $2.36.Morgan Stanley maintained the company's stock rating at overweight and lowered the price target to $35 from $40.Price: $19.27, Change: $+0.63, Percent Change: +3.38%

$DNLI

Mining & Metals50d ago

Canadian Energy Infrastructure Companies' Q1 Results Mostly In Line, CIBC Says

First-quarter results of Canadian energy infrastructure companies broadly aligned with expectations, with midstreamers pointing to upside in their guidance if market conditions hold, CIBC Capital Markets said.Pembina Pipeline (PPL.TO) hedged enough exposure to raise its guidance outright, and others could follow as the year progresses, CIBC said.During the quarter, CIBC found notable the number of projects announced in the United States relative to Canada, which could be attributed to a more advanced data center buildout in that market and the related demand for energy infrastructure.Among the potential catalysts for the sector include ongoing regulatory reform and execution of the Canada-Alberta memorandum of understanding.Keyera (KEY.TO) intends to give an updated pro forma outlook in June, while Pembina is expected to announce a final investment decision on the Greenlight Energy Center project.Price: $53.81, Change: $+0.09, Percent Change: +0.16%

$ALA.TO$BIP-UN.TO$ENB.TO$GEI.TO$KEY.TO$PPL.TO$SOBO.TO$TRP.TO

Wire50d ago

MongoDB to Outperform 'Conservative' Fiscal 2027 Guidance, Wedbush Says

MongoDB (MDB) is set to outperform its "conservative" fiscal 2027 guidance, Wedbush Securities said.The company is scheduled to report its fiscal Q1 financial results on Thursday.The brokerage said in a Monday note that it expects MongoDB to report "solid" fiscal Q1 results, with the company looking to expand its artificial intelligence portfolio across enterprise channels, especially US enterprise, and midmarket opportunities.Wedbush said the company has yet to scratch the surface of the over $100 billion opportunity it faces.Analysts said MongoDB's recent acquisition of Voyage AI is a critical part of its AI strategy.Wedbush reiterated its outperform rating on the stock with a $380 price target.Price: $312.18, Change: $-13.95, Percent Change: -4.28%

$MDB

Wire50d ago

Pure Storage Could Likely Secure an H2 Hyperscale Win, Wedbush Says

Pure Storage (PSTG) is expected to report a Q1 beat and raise, with potential for significant upside around second half expectations and a higher probability of securing a hyperscale win, Wedbush Securities said Tuesday.The firm expects strong revenue guidance as further increases in system pricing flow through to results, particularly as sales volumes are likely to remain in-line with expectations.In the intermediate term, rising NAND pricing supports the company's NAND and memory cost advantage. Its architecture enables the use of lower cost bits, avoids over-provisioning, and in some configurations minimizes DRAM consumption, resulting in a sustainable gross margin advantage over the industry, the brokerage said.Pure Storage's strong sourcing setup and structural cost advantages position it to significantly exceed the previous outlook, particularly in H2. Its original guidance implies sales momentum considerably slowing, while stable bit shipments point to revenue growth of over 70% instead, according to the note.Wedbush kept an outperform rating on Pure Storage with a price target of $100.Price: $67.80, Change: $+2.91, Percent Change: +4.48%

$PSTG

Mining & Metals50d ago

RBC's Key Rail Takeaways From Industrials Conference

Last week's RBC Canadian Industrials Conference reinforced a broadly constructive backdrop for the rails, with pricing trending ahead of inflation and improving network fluidity across CN Rail (CNR.TO), CPKC (CP.TO), report RBC Capital Markets analysts Walter Spracklin and James MacGarragle.Key takeaways:On CN, the Western Canada infrastructure buildout (Edson Subdivision, Zanardi Rapids Bridge, Glen Valley to Abrahamson) sets the stage for meaningful operating leverage as volumes recover.For CPKC, the analysts believe KCS synergies are on track to be fully realized by year-end, two years ahead of schedule, though the bigger story remains the Mexico opportunity which is still in the "first inning".Price: $159.76, Change: $+0.01, Percent Change: +0.01%

$CNR.TO$CP.TO

Wire50d ago

Chewy Faces Near-Term Pressure as Pet-Care Demand Softens, Morgan Stanley Says

Chewy (CHWY) faces near-term pressure from a weakening pet-care market and softer alternative data trends that may weigh on revenue growth, Morgan Stanley said Tuesday in a report.Rising fuel costs and lower operating leverage also may weigh on margins, though full-year profitability guidance might remain broadly unchanged, the report said.Chewy's fiscal 2026 organic revenue growth guidance of 7.3% to 8.5% may come under pressure, with alternative data pointing to growth closer to the mid-7% range, below initial expectations, Morgan Stanley said. Q1 results are due June 10.The stock's sharp drop already reflects many of the company's challenges, and investor expectations now look too pessimistic given the company's long-term prospects, the report said.Morgan Stanley lowered its price target on Chewy stock to $43 from $49 and maintained its overweight rating.Price: $21.26, Change: $+0.52, Percent Change: +2.53%

$CHWY

Mining & Metals50d ago

RBC Keeps Pembina Pipeline's Outperform Rating, C$68 Price Target

RBC Capital Markets on Monday maintained its outperform rating on the shares of Pembina Pipeline (PPL.TO, PBA) and its C$68.00 price target after the company decided to go ahead with the C$570 million Heartland Extraction Plan and agreed to supply ethane to Dow.The sanctioning of the Heartland extraction plant and updating of the Dow ethane supply agreement are expected to positively impact on the company's share price.The Heartland plant is a larger version of the previously disclosed Yellowhead extraction plant, and helps Pembina monetize its sole liquids extraction rights on the Yellowhead mainline.Meanwhile, Pembina and Dow have amended the terms of their previously announced ethane supply agreement. Under the amended long-term agreement, Pembina will supply Dow with 35,000 barrels per day of ethane, commencing with the scheduled 2029 startup of Dow's Path2Zero project.Price: $67.44, Change: $-0.29, Percent Change: -0.43%

$PBA$PPL.TO

Commodities50d ago

US Developers Plan 44.9 Bcf/d of New Gas Pipeline Capacity by 2027, EIA Says

US developers plan to add 44.9 billion cubic feet per day of natural gas pipeline capacity in 2026 and 2027, with Texas accounting for 29.7 Bcf/d, the Energy Information Administration said Tuesday.Developers already started construction on about 31.6 Bcf/d, representing nearly 70% of the planned capacity additions, while Louisiana ranked second with 8.4 Bcf/d of new pipeline projects, the agency said.Texas projects will expand takeaway capacity from the Permian Basin and reduce congestion at the Waha Hub, helping move natural gas toward liquefied natural gas export terminals and industrial, residential and power markets.NextDecade's (NEXT) Rio Bravo Pipeline project will transport up to 4.5 Bcf/d via a 138-mile pipeline in Texas to supply the Rio Grande LNG terminal, with operations targeted for the second half of this year.Developers are building the 365-mile Blackcomb pipeline to move 2.5 Bcf/d from the Waha Hub to the Agua Dulce Hub by the third quarter of 2026, helping ease Permian bottlenecks.The Hugh Brinson project will add 2.2 Bcf/d of Permian takeaway capacity, with developers planning phase 1 startup in Q4 2026 and phase 2 operations in Q1 2027, the EIA said.Louisiana will add 2 Bcf/d of pipeline capacity when the Port Arthur Pipeline Louisiana Connector enters service in the second half of 2026, while the Pelican Pipeline will lift the state's added capacity to 8.4 Bcf/d by the end of 2027.Virginia will gain 1.6 Bcf/d of new capacity in 2027 through Williams' (WMB) Southeast Supply Enhancement Project, which expands the Transcontinental Pipeline from Virginia to Alabama, according to the EIA.Price: $8.32, Change: $-0.14, Percent Change: -1.62%

$NEXT$WMB

Showing 25501-25520 of 55667

Wire50d ago

Financial News · Live Terminal

CIBC Confirms Outperformer Rating on Bird Construction and Raises Target to $65.00

JPMorgan Adjusts Price Target on News to $36 From $35, Maintains Overweight Rating

Canada's Trade Diversification Target Has A Scale Problem, Says National Bank

Royal Caribbean Faces Reduction in 2028 EPS After Mexico Rejects Perfect Day Project, Morgan Stanley Says

Top Midday Stories: Micron's Market Cap Briefly Hits $1 Trillion; Qualcomm Reportedly Strikes AI Chip Deal With ByteDance

BioRestorative Completes Dosing in Phase 2 Trial of BRTX-100 to Treat Chronic Lumbar Disc Disease; Shares Rise

Levi Strauss Insider Sold Shares Worth $4,567,914, According to a Recent SEC Filing

NetApp Poised for Better-Than-Expected Fiscal Q4 on Higher Prices, AI Demand, Wedbush Says

Snowflake Well-Positioned to Benefit From Rising AI Demand, Wedbush Says

CIBC Raises Agnico Eagle Mines Price Target to US$310 from US$304

Autodesk Likely to Deliver Solid Q1, Morgan Stanley Says

Pershing Square's Resilient Model Offset by Elevated Valuation, Oppenheimer Says

Denali Therapeutics' Focus Shifts to Other Pipeline Assets After Phase 2b Study Failure, Morgan Stanley Says

Canadian Energy Infrastructure Companies' Q1 Results Mostly In Line, CIBC Says

MongoDB to Outperform 'Conservative' Fiscal 2027 Guidance, Wedbush Says

Pure Storage Could Likely Secure an H2 Hyperscale Win, Wedbush Says

RBC's Key Rail Takeaways From Industrials Conference

Chewy Faces Near-Term Pressure as Pet-Care Demand Softens, Morgan Stanley Says

RBC Keeps Pembina Pipeline's Outperform Rating, C$68 Price Target

US Developers Plan 44.9 Bcf/d of New Gas Pipeline Capacity by 2027, EIA Says

CIBC Confirms Outperformer Rating on Bird Construction and Raises Target to $65.00

JPMorgan Adjusts Price Target on News to $36 From $35, Maintains Overweight Rating

Canada's Trade Diversification Target Has A Scale Problem, Says National Bank

Royal Caribbean Faces Reduction in 2028 EPS After Mexico Rejects Perfect Day Project, Morgan Stanley Says

Top Midday Stories: Micron's Market Cap Briefly Hits $1 Trillion; Qualcomm Reportedly Strikes AI Chip Deal With ByteDance

BioRestorative Completes Dosing in Phase 2 Trial of BRTX-100 to Treat Chronic Lumbar Disc Disease; Shares Rise

Levi Strauss Insider Sold Shares Worth $4,567,914, According to a Recent SEC Filing

NetApp Poised for Better-Than-Expected Fiscal Q4 on Higher Prices, AI Demand, Wedbush Says

Snowflake Well-Positioned to Benefit From Rising AI Demand, Wedbush Says

CIBC Raises Agnico Eagle Mines Price Target to US$310 from US$304

Autodesk Likely to Deliver Solid Q1, Morgan Stanley Says

Pershing Square's Resilient Model Offset by Elevated Valuation, Oppenheimer Says

Denali Therapeutics' Focus Shifts to Other Pipeline Assets After Phase 2b Study Failure, Morgan Stanley Says

Canadian Energy Infrastructure Companies' Q1 Results Mostly In Line, CIBC Says

MongoDB to Outperform 'Conservative' Fiscal 2027 Guidance, Wedbush Says

Pure Storage Could Likely Secure an H2 Hyperscale Win, Wedbush Says

RBC's Key Rail Takeaways From Industrials Conference

Chewy Faces Near-Term Pressure as Pet-Care Demand Softens, Morgan Stanley Says

RBC Keeps Pembina Pipeline's Outperform Rating, C$68 Price Target

US Developers Plan 44.9 Bcf/d of New Gas Pipeline Capacity by 2027, EIA Says