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Oracle Needs More Clarity in GPUaaS Margin Profile, Morgan Stanley Says

Oracle (ORCL) showed improved confidence in Q3 with execution and demand, but uncertainty persists around GPU as a Service business margin, Morgan Stanley said in a Thursday note.The report said Oracle shares have risen more than 20% over the past two weeks partly on continued strength in AI compute demand data points and improved sentiment on compute capex."Further improvement in investor sentiment on AI related hyperscaler/neocloud capex and customer concentration risk could yield further upside," the report said."However additional clarity in the gross margin profile of the GPUaaS business and financing path going forward (and a right-sizing of longer-term targets) would be needed to get more strategically positive on the shares," the note added.Morgan Stanley kept its equal weight rating while lowering its price target to $207 from $213 on balanced risk-reward profile.Price: $177.79, Change: $-9.71, Percent Change: -5.18%

$ORCL

Treasury56d ago

Canada's Provincial Budgets Higher This Year But Still Below Historical Levels, Says TD

This year's round of provincial budgets in Canada revealed an aggregate deficit of around 1.4% of gross domestic product for FY 2026/27, a deterioration from last year, but modest by historical standards, said TD.The all-province net debt-to-GDP ratio is set to climb further, wrote the bank in a note to clients.Recent energy price gains have tilted near-term fiscal risks towards improved budget positions, particularly for commodity-producing provinces, stated TD.Capital spending remains a central pillar of fiscal plans, providing near-term support to growth but adding to medium-term debt and debt-servicing pressures across most jurisdictions, stated the bank.New policy initiatives were deliberately limited, with a focus on affordability, housing, and core services. To some extent, targeted support will help firm domestic activity, potentially offsetting downside risks to real growth from external shocks, added TD.Provincial budgets this season reflect tighter fiscal room, with most governments opting for incremental, targeted measures over large new commitments, according to the bank. Deficits are expected to linger over the next several years, although the oil price shock has tilted this calculus in favor of commodity provinces while complicating the outlook for energy importers, where lingering deficits and elevated debt burdens make fiscal positions more vulnerable to negative economic shocks.

$CXY

Wire56d ago

Morgan Stanley Adjusts Hasbro Price Target to $122 From $119, Maintains Overweight Rating

Hasbro (HAS) has an average rating of overweight and mean price target of $115.69, 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://www..com/contact-us)Price: $98.71, Change: $+8.10, Percent Change: +8.93%

$HAS

Wire56d ago

Barclays Adjusts Price Target on Elevance Health to $408 From $393, Maintains Overweight Rating

Elevance Health (ELV) has an average rating of overweight and mean price target of $376.24, 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://www..com/contact-us)Price: $342.37, Change: $+14.17, Percent Change: +4.32%

$ELV

Wire56d ago

Tesla Continues Transformation Into Physical AI Champion With Capital Expenditure Ramp, Wedbush Says

Tesla's (TSLA) ramping up of capital expenditures as it transforms into a physical artificial intelligence player is a positive for the company, Wedbush said in a Thursday note.Tesla expects more than $25 billion of capital expenditures in 2026, a significant increase from the guidance of around $20 billion it initiated last quarter, Wedbush analysts said. Tesla's planned multi-year capital investment phase, which includes six factory buildouts and its AI5 inference chip program, will result in negative cash flow throughout the year, the analysts said.Stabilizing demand for Tesla's existing vehicle lineup has driven Q1 results that featured earnings and revenue beats, the analysts said. They noted that the company continues to zero in on autonomous technology with production of the Cybercab and Tesla Semi anticipated later in the year.The approval of its Full Self-Driving supervised system in the Netherlands sets up an EU-wide review in May, while China approval is expected by Q3, according to the note. Tesla expects to launch unsupervised Full-Self Driving by Q4 at around a dozen US states, with recurring revenue projected in 2027, the note said.Wedbush maintained its outperform rating and $600 price target on the stock.Price: $376.89, Change: $-10.62, Percent Change: -2.74%

$TSLA

Research56d ago

Research Alert: Cnp Q1: Eps Beat Despite Interest Expense Pressure; Industrial Pipeline Surges

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:CenterPoint Energy reported Q1 2026 non-GAAP EPS of $0.56, up 5.7% Y/Y and 1.0% above consensus, led by $0.11 per share from growth and regulatory recovery, partially offset by unfavorable weather and higher interest expense. The company's debt-to-capitalization of 68.3% remains the highest among Multi-Utility peers at a 59.2% average. We like the earnings trajectory, with industrial load commitments accelerating to 12.2 GW from 7.5 GW in Q4 2025 and data center forecasts increasing to 8 GW by 2029, demonstrating strong execution on interconnection pipeline. Management reaffirmed 2026 non-GAAP EPS guidance at or above the midpoint of $1.89-$1.91, representing 8% growth. We believe the 2025-2028 CAGR of 8.7% is the highest among Multi-Utility peers. The company maintained its $65.5B 10-year capital plan through 2035 with $10B of incremental opportunities identified, while the pending Ohio gas divestiture for ~$2.6B supports portfolio optimization.

$CNP

Mining & Metals56d ago

RBC Keeps Waste Connections' Outperform Rating, US$210 Price Target

RBC Capital Markets on Wednesday maintained its outperform rating on the shares of Waste Connections (WCN.TO, WCN) and its US$210 price target following the waste-management company's first-quarter results.Waste Connections' first-quarter adjusted EBITDA of $769.5 million and adjusted earnings per share beat RBC's estimates, while its revenue of $2.37 billion was in line with RBC's forecast.RBC believes there is upside to the company's 2026 guidance from M&A, an improvement in the macro backdrop, and more supportive commodity pricing."Q1 results continued to reflect similar trends we have been observing in recent quarters, namely softer volumes and commodity prices being offset by underlying margin expansion," RBC said.Price: $229.57, Change: $+15.86, Percent Change: +7.42%

$WCN$WCN.TO

Wire56d ago

ServiceNow's Strong AI Growth in Q1 Offset by Margin Pressure, Softer Outlook, Oppenheimer Says

ServiceNow (NOW) posted strong Q1 results driven by robust AI business growth, but softer organic revenue trends and a slightly weaker margin outlook weighed on the overall forecast, Oppenheimer said in a Thursday note.Oppenheimer noted that AI-related demand remains a key strength and could account for more than 10% of total revenue this year, potentially easing concerns about AI disruption and supporting a higher valuation multiple over time.The analyst flagged softer Q2 guidance, slower organic growth, and margin pressure from acquisition-related costs as near-term headwinds, but still pointed to strength in the AI-driven growth pipeline and capital return activity, according to the note.Oppenheimer said Q1 results beat consensus estimates, driven by strong subscription revenue and continued momentum in large deals and AI adoption, with the company's AI segment expected to reach $1.5 billion in revenue in 2026.The firm maintained its outperform rating on the stock with a price target of $130.Shares of ServiceNow were down nearly 16% in Thursday trading.Price: $86.60, Change: $-16.47, Percent Change: -15.98%

$NOW

Wire56d ago

Texas Instruments Posts Strong Q1 but Long-term Risks Remain, Morgan Stanley Says

Texas Instruments (TXN) reported "very strong" Q1 results, however, ongoing high capital spending and valuation concerns keep the long-term outlook cautious, Morgan Stanley said in a note Thursday.Management highlighted broad-based strength across the business and noted there was no clear pull-ahead activity. Still, results for the March and June quarters were significantly above-seasonal, which creates some caution looking ahead and sets a high bar for the September quarter, usually the strongest of the year, the bank said.The firm added that it is giving Texas Instruments credit and modeling to seasonality for the rest of 2026 and 2027, because H2 2026 is expected to be stronger than H1, with pricing likely becoming more important and possible supply tightness giving the company a share opportunity.The bank said the bullish view was that after five years of high capital expenditure, the company would generate more free cash flow than earnings in 2027, but comments on the earnings call suggest high spending may continue into 2027 unless revenue slows. "Further, we have expected the acquisition of [Silicon Laboratories (SLAB)] to drive something of a negative re-rating, given the importance of cash return to the story."Morgan Stanley adjusted Texas Instruments' price target from $180 to $221 while keeping its underweight rating.Price: $275.64, Change: $+39.33, Percent Change: +16.64%

$TXN

Wire56d ago

Lam Research Reports 'Record' Q3, Issues 'Strong' Outlook on AI-Driven Demand, Oppenheimer Says

Lam Research (LRCX) reported a record fiscal Q3 as the company benefits from artificial intelligence-driven demand for semiconductor equipment and memory, Oppenheimer said.The brokerage said in a Wednesday note that the company issued a "muscular" Q4 outlook above consensus estimates, highlighting an "ideal setup for outperformance."Lam Research also raised its 2026 wafer fab equipment forecast to $140 billion and described demand across DRAM, NAND, foundry and packaging as stronger than 90 days ago, the note added.The firm added that visibility is extending into 2028 and the $40 billion NAND upgrade cycle is pulling forward, with the bulk of spending now expected by the end of 2027.Oppenheimer maintained its outperform rating on Lam Research and raised its price target to $330 from $265.Price: $263.05, Change: $-2.51, Percent Change: -0.94%

$LRCX

Research56d ago

Citic Securities Initiates Corning at Buy With $189 Price Target

Corning Inc (GLW) has an average rating of overweight and mean price target of $148.17, 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://www..com/contact-us)Price: $171.40, Change: $+2.64, Percent Change: +1.56%

$GLW

Mining & Metals56d ago

Canadian Airline Scheduling "Largely" Intact For Now, Says Stifel Canada

U.S. airlines are starting to curtail off-peak capacity, but Canadian scheduling appears largely intact for now, writes Stifel Canada analyst Daryl Young.In a note, Young says Canadian airlines are still planning strong growth through peak summer. Scheduled capacity increases in the second quarter are led by the Pacific (+9.0%) and Atlantic (+4.7%), partially offset by ongoing weakness in U.S. Transborder (-10.1%).Air Canada (AC.TO) (+2.4%) and Porter (+8.6%) have maintained growth in the second quarter and onward, but WestJet (-1.9%) and Flair (-2.9%) have curtailed capacity, he points out."To date, indications are that demand has remained healthy and is effectively absorbing fuel price surcharges/higher airfares . . ., but the longer fuel prices remain elevated the greater the potential for demand destruction."Stifel Canada has a buy rating and $28.00 price target on Air Canada.Price: $18.38, Change: $+0.09, Percent Change: +0.49%

$AC.TO

Wire56d ago

JFrog Poised to See Another 'Solid' Quarter With Steady Artifactory Use, Oppenheimer Says

JFrog (FROG) is expected to see another "solid" quarter aided by a steady Artifactory consumption, growing Curation adoption, and minimal operational disruption from the Iran conflict, Oppenheimer said in a note Thursday.The brokerage said it expects a 2% to 4% Q1 revenue upside to consensus estimate of $147.5 million, while the company's $300 million share repurchase program will see limited activity on account of the 30-day creditor objection period per Israeli regulation.Recent artificial intelligence-driven concerns related to the stock are "overly bearish," analysts said, adding that they continue to view AI as a strong 2026 Artifactory consumption driver for core enterprise expansion.JFrog hasn't experienced material operational impact from the Iran conflict and, if needed, has contingency plans in place, like relocation management and shifting R&D activity to other regions, according to the note.The company is scheduled to report its Q1 financial results on May 7.Oppenheimer has an outperform rating on the stock, and lowered its price target to $63 from $75.Shares of JFrog were down 6.5% in Thursday trading.Price: $43.78, Change: $-3.03, Percent Change: -6.47%

$FROG

Wire56d ago

Pegasystems Sees Reacceleration in H2 on Backlog Growth, Higher Cash Generation, Wedbush Says

Pegasystems (PEGA) expects to see a reacceleration in the second half of the year on backlog growth and higher cash generation despite its recent first-quarter results missing Wall Street estimates on the top and bottom lines, Wedbush said in a Thursday research report.Pega Cloud annual contract value in Q1 fell short of consensus at $906.7 million as the company shifts its ACV mix to the cloud, according to the note.Blueprint is accelerating conversion to Pega Cloud and driving incremental opportunities to the pipeline, expected to help the company outperform throughout 2026, Wedbush stated.The brokerage said it reiterated its outperform rating on the stock and price target of $60 per share.Price: $35.09, Change: $-2.39, Percent Change: -6.38%

$PEGA

Research56d ago

NexGen Energy Maintained at Buy at Stifel Canada as it Completes Winter Drilling; Price Target Kept at C$12.00

Stifel Canada on Thursday maintained its buy rating on the shares of NexGen Energy (NXE.TO) and its C$30.00 price target after the company wrapped up its winter drilling program at its Patterson Corridor East uranium project in northern Saskatchewan."NexGen announced completion of its 2026 winter drill program at the Patterson Corridor East (PCE) discovery, highlighting a 33% vertical expansion of the high-grade subdomain to 550m (from 412m) over a 210m strike. Key results include RK-26-271c1 (12.6m >10,000cps, 2.3m >61,000cps) and RK-26-280c1 (4.2m >10,000cps) that intersected mineralization 834m below surface. Furthermore, the discovery of a separate parallel trend 600m southeast suggests the PCE system may repeat, mirroring the multi-shear architecture of Arrow. Recall that early drilling at PCE (located 3.5km east of Rook 1) indicates a large, high-grade system analogous to Arrow, and may be one of the more underappreciated aspects of the NexGen story and underpins long-term growth optionality beyond Arrow. We currently assume a PCE mineral inventory value of $2.95/share (155Mln lbs @ US$10/lb) based on 6.3Mt @ 1.12% U3O8 (0.01% cut-off grade). We reiterate our Buy rating," analyst Ralph Profiti wrote.(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://www..com/contact-us)Price: $17.77, Change: $-0.12, Percent Change: -0.67%

$NXE.TO

Commodities56d ago

EIB Backs Malta-Italy Power Link to Boost Energy Security, Renewables

The European Investment Bank has agreed to provide 100 million euros ($117 million) in financing for Malta's second electricity interconnector with Italy, a project aimed at strengthening the island nation's energy security and accelerating its shift toward renewable power, EIB said in a statement on Thursday.The new subsea cable, known as IC2, will run 122 kilometers between Malta and Sicily, linking the Enemalta terminal station in Maghtab with Terna's substation in Ragusa. Designed as an alternating current connection operating at 220 kilovolts and 50 hertz, the interconnector will have a transmission capacity of 225 megawatts.Officials said the project will significantly expand electricity interconnection capacity between Malta and Italy, enabling greater access to the European power market, improving grid stability, and supporting the integration of renewable energy sources.The interconnector is scheduled to begin operations in the first quarter of 2027 and is a central component of Malta's energy strategy, particularly its efforts to meet the European Union's 2030 climate and energy targets.Total project costs are estimated at 296.68 million euros. Funding includes 165.78 million euros from the European Regional Development Fund, alongside the EIB loan and contributions from the Maltese government.The project also received advisory support from JASPERS, a joint initiative of the EIB and the European Commission, which assisted with project preparation, design, and compliance with EU requirements.Ownership of the infrastructure will remain with the Maltese government. Interconnect Malta, a state-owned company, will oversee the procurement, construction, and operation of the interconnector. Its full capacity will be made available to Enemalta, Malta's electricity distribution operator, under a capacity agreement with an annual usage tariff.

International56d ago

April Kansas City Fed Manufacturing Index Falls, Still Indicated Expansion

The Kansas City Fed monthly manufacturing index decreased to a reading of 10 in April from 11 in March as expected in a survey compiled by Bloomberg.The decrease follows increases in readings for the other regional manufacturing data released so far. The ISM's national manufacturing reading will be released on May 1.Within the Kansas City data, there were decreases in the reading for production, employment, shipments and new orders, while the prices paid reading surged.

Wire56d ago

IBM Well-Positioned to Ride AI Demand, Wedbush Says

IBM (IBM) remains well-positioned to ride the wave of artificial intelligence demand as its diversified portfolio and offerings gain traction, Wedbush analysts said in a Thursday note.Analysts said that for Q1, the company's top-line and bottom-line beat estimates, as it maintained its revenue and free cash flow guidance for the year.Wedbush said that IBM is taking a prudent approach to navigating macro headwinds while facing stronger demand for AI adoption within software services.Analysts increased their 2026 adjusted earnings estimate for IBM to $12.44 from $12.40. Analysts polled by FactSet expect $12.41.Webush also increased its 2026 revenue guidance for IBM to $71.21 billion from $70.95 billion. Analysts surveyed by FactSet expect $71.41 billion.Analysts maintained an outperform rating on the stock, but lowered its price target to $320 from $340.Price: $230.57, Change: $-21.30, Percent Change: -8.46%

$IBM

Wire56d ago

Raymond James Adjusts Nasdaq PT to $111 From $110, Maintains Outperform Rating

Nasdaq (NDAQ) has an average rating of Buy and mean price target of $109, 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://www..com/contact-us)Price: $88.15, Change: $+1.77, Percent Change: +2.06%

$NDAQ

Mining & Metals56d ago

CIBC Names Keyera, Pembina as Top Energy Infrastructure Picks Ahead of Q1 Earnings Season

CIBC Capital Markets on Wednesday named Keyera (KEY.TO) and Pembina Pipeline (PPL.TO) as its top energy infrastructure picks heading into the first-quarter earnings season.Keyera has unrealized value in the pending acquisition of Plains' natural gas liquids assets, although the timing is more likely at quarter-end, CIBC said.Pembina also offers upside tied to the Greenlight Electricity Centre project, as well as a potential increase in marketing guidance, CIBC said.Pembina also has the strongest potential to increase marketing guidance, although historically it has been reluctant to do so early in the year, CIBC added."More broadly, we believe the constant macro news flow may create trading opportunities for investors who are nimble and able to tolerate the associated portfolio turnover," CIBC said.CIBC upgraded TC Energy's (TRP.TO) rating to outperformer from neutral while raising the price target to $89.00 from $85.00, reflecting higher expected returns from recent projects, with the increased return profile driving the rating change.CIBC also increased AltaGas (ALA.TO)'s price target to $51.00 from $50.00 on a stronger liquefied petroleum gas outlook.Superior Plus (SPB.TO)'s rating also moved to outperformer from neutral following its data center announcement for its Certarus unit.Price: $48.92, Change: $+0.71, Percent Change: +1.47%

$ALA.TO$KEY.TO$PPL.TO$SPB.TO$TRP.TO

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Commodities56d ago