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US Top Rating Updates on 2/2: META, FDX, FSLR, GRAB and More

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Analysts Notebook wrote a column · Feb 2, 2023 07:09
US Top Rating Updates on 2/2: META, FDX, FSLR, GRAB and More
Meta Platforms Soars as Analysts Upgrade, Praise 'Year of Efficiency'
$Meta Platforms(META.US)$ soared in premarket trading on Thursday, gaining nearly 20%, after the Mark Zuckerberg-led company reported fourth-quarter results and offered guidance that were better than feared, prompting a bevy of Wall Street analysts to upgrade the stock and praise the tech giant's "year of efficiency."
JPMorgan Downgrades Grab Holdings to Underweight on Earnings Risk
JPMorgan analyst Ranjan Sharma downgraded $Grab Holdings(GRAB.US)$ to Underweight from Neutral with a price target of $2.80, down from $3.20. The shares are up 64% from the October 2022 lows on expectations of material improvement in the earnings outlook driven by mobility and corporate cost reductions, the analyst tells investors in a research note.
FedEx Lands New Buy Ratings With Pricing, Cost-cutting Measures Seen Boosting Results
$FedEx(FDX.US)$ landed upgrades on Wall Street on Thursday following the company's announcement on a major round of jobs cuts at he management level. Bank of America boosted its rating on FedEx to Buy from Neutral. The firm said it is more confident in FedEx's outlook as it reduces excess capacity and enhances productivity.
Source: Seeking Alpha, The Fly
Disclaimer: The content should not be relied on as advice or recommendation.
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