Breaking News

4 big analyst picks: NVIDIA bags 3 upgrades on strong earnings, outlook

AuthorDavit Kirakosyan Stock Markets

Published May 26, 2023 20:04

Saved. See Saved Items.

This article has already been saved in your Saved Items

4 big analyst picks: NVIDIA bags 3 upgrades on strong earnings, outlook

NVDA

+1.46%

Add to/Remove from a Portfolio

CCL

+3.29%

Add to/Remove from a Portfolio

TOL

+1.51%

Add to/Remove from a Portfolio

FUTU

+0.75%

Add to/Remove from a Portfolio

Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at NVIDIA, Carnival, Toll, and Futu.

InvestingPro subscribers got this news in rapid fire. Never be left in the dust again.

NVIDIA receives 3 upgrades after strong Q1 earnings

NVIDIA (NASDAQ:NVDA) was upgraded at three Wall Street firms after the company reported its Q1 results, beating the Street estimates and providing significantly better-than-expected guidance, as InvestingPro reported in real time.

As a result, shares surged more than 24% yesterday. Q1 EPS came in at $1.09 on revenue of $7.19 billion, compared to the consensus estimates of $0.92 and $6.52B, respectively. The company expects Q2/24 revenue to be $11.00B, plus or minus 2%, beating the consensus estimate of $7.15B. This is attributed to the growing demand for its AI chips, used in ChatGPT and similar services.

Craig-Hallum upgraded the company to Buy from Hold and raised its price target to $500.00 from $190.00, while Wedbush upgraded to Outperform from Neutral, raising its price target to $490.00 from $290.00. Baird moved its rating to Outperform from Neutral with a price target of $475.00 (from $300.00).

Carnival upgraded at Citi

Citi upgraded Carnival (NYSE:CCL) to Buy from Neutral and raised its price target to $14.00 from $10.00, noting that the company’s balance sheet is at a "turning point" as the cruise industry recovers from pandemic-era restrictions.

"As arguably the last remaining COVID reopening story, pandemic tailwinds to the cruise industry are greater than any macro headwinds," mentioned the bank, adding that the new CEO Josh Weinstein’s turnaround efforts are working.

2 more upgrades

RBC Capital upgraded Toll Brothers (NYSE:TOL) to Outperform from Sector Perform and raised its price target to $77.00 from $55.00 after a strong Q2 beat, which resulted in shares gaining more than 4% yesterday.

The firm believes sentiment has been overly negative on a relative basis given Toll’s high-end, West Coast, and build-to-order exposures, with recent trends providing evidence that it has experienced improvement similar to peers.

Zelman & Associates, another Wall Street firm, upgraded the company to Buy from Hold.

Credit Suisse upgraded Futu (NASDAQ:FUTU) to Outperform from Neutral with a price target of $49.00.

The company reported its Q1 results on Wednesday, with revenue coming in better than the consensus estimate.

In fast-moving markets, every second counts - and InvestingPro subscribers are always one step ahead with lightning-quick updates.

Start your free 7-day trial now.

Add a Comment

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically.
Use standard writing style. Include punctuation and upper and lower cases.
NOTE: Spam and/or promotional messages and links within a comment will be removed
Avoid profanity, slander or personal attacks directed at an author or another user.
Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read and understood Investing.com Australia's comment guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d70-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d70-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d70-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

S&P/ASX 200	7,024.80	-5.50	-0.08%
ASX 200 Futures	7,095.5	+27.5	+0.39%
ASX All Ordinaries	7,222.50	-7.30	-0.10%
US 500	4,304.4	+29.9	+0.70%
Dow Jones	33,666.34	+116.07	+0.35%
China A50 Futures	12,432.0	+56.0	+0.45%
Dollar Index	105.855	-0.511	-0.48%

Crude Oil WTI	91.81	-1.87	-2.00%
Natural Gas	2.945	+0.046	+1.59%
Gold	1,881.70	-9.20	-0.49%
Silver	22.835	+0.111	+0.49%
Copper	3.7120	+0.0755	+2.08%
US Sugar #11	26.99	+0.62	+2.35%
US Coffee C	146.98	-2.27	-1.52%

Australia 10Y	4.488	+0.025	+0.56%
Australia 5Y	4.171	-0.002	-0.05%
New Zealand 10Y	5.334	+0.000	+0.00%
U.S. 10Y	4.581	-0.050	-1.08%
Japan 10Y	0.749	-0.007	-0.93%
China 10Y	2.706	-0.009	-0.33%
Singapore 10Y	3.474	+0.016	+0.46%

CSL	252.04	0.00	0.00%
Woolworths	37.270	-0.320	-0.85%
ANZ Holdings	25.480	+0.280	+1.11%
Commonwealth Bank Australia	99.950	-0.580	-0.58%
Telstra Group	3.850	0.000	0.00%
National Australia Bank	28.880	-0.160	-0.55%
BHP Group Ltd	43.730	+0.240	+0.55%

4 big analyst picks: NVIDIA bags 3 upgrades on strong earnings, outlook

NVIDIA receives 3 upgrades after strong Q1 earnings

Carnival upgraded at Citi

2 more upgrades

Related Articles