In This Article:
Wealth host Brad Smith outlines some of today's trending stories.
Target (TGT) was downgraded to Underperform from Market Perform by Bernstein analysts, citing the retailer's "difficult trade-off" between sales and margins.
Astera Labs (ALAB) was upgraded to Overweight by Morgan Stanley, saying the stock's recent decline is a good entry point.
Kindly MD (KDLY) stock skyrockets after announcing a merger with Nakamoto Holdings.
To watch more expert insights and analysis on the latest market action, check out more Wealth here.
Now time for some of today's trending tickers. We are watching Target, A stellar labs, and kindly MD. First up, target downgraded to underperform from market perform at Bernstein. The analyst says that the retailer faces a difficult trade-off between fueling sales growth and maintaining margins. Bernstein says target is losing market share in core discretionary categories like home and apparel, and that e-commerce growth could be a persistent margin headwind for Target. The analyst says poor weather, weak consumer sentiment and a DEI related strike in March weighed on first quarter results, and that tariff risks aren't fully priced in. Next up here we've got A stellar labs, getting an upgrade to overweight at Morgan Stanley. This is following the chip manufacturing company's quarterly results. The firm says recent weakness in the stock represents a good entry point despite the stock being quote highly polarizing. The analyst cites AI optimism, saying they believe there is too much pessimism in AI, and says new products should give the company sustained growth. And finally here, healthcare Services company Kindly MD, surging the most on record on an agreement to merge with Bitcoin holding company, Nakamoto Holdings to start a Bitcoin treasury strategy here. Nakamoto was founded by David Bailey, a crypto advisor to President Trump, and the merger includes $510 million in private investment, $200 million in convertible notes.
