In This Article:
Brad Smith takes a look at some of the day's trending tickers on Wealth.
Morgan Stanley upgraded Carvana's (CVNA) rating to Overweight from Equal Weight and raised its price target for the company to $280 from $260.
Mobileye (MBLY) stock is gaining as the company partners with Volkswagen (VOW3.DE) to upgrade advanced driver assistance systems.
Shell (SHEL) shares are trading in the green after the company vowed to boost shareholder returns by expanding liquefied natural gas sales.
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Carvana getting an upgrade to overweight from equal weight at Morgan Stanley. The firm saying the recent pullback is a buying opportunity. The analysts lifting the price target to $280 a share from $260. That's 31% upside from the stock's last close. The firm noting Carvana has demonstrated execution with profitable growth and addressed leverage concerns. The analyst also saying his recent tour to a Florida facility underscored the company's competitive advantages with vertical integration and scale. Shares of Carvana are higher.
Next, Mobileye is rising on a partnership with Volkswagen, VW. Volkswagen is working with the French auto supplier Valeo and Mobileye to upgrade the advanced driver assistance systems up to level two plus. So at that level, you essentially get things like automatic braking and adaptive control for cruise control. A driver's attention is still required 100% of the time, we should note. Bloomberg Intelligence says the deal could quote drive incremental revenue growth.
And finally here, energy giant Shell is vowing to boost shareholder returns by doubling down on its liquefied natural gas business. In an announcement ahead of the company's capital markets day, Shell said it would expand liquefied natural gas sales by 4 to 5% annually until 2030. This will help return cash to investors via share buybacks.
