US Top Rating Updates on 1/9: BABA, ORCL, PYPL, XPEV and More
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Alibaba Upgraded to Conviction Buy From Buy at Goldman Sachs
Goldman Sachs analyst Ronald Keung added Buy-rated $Alibaba(BABA.US$ to his firm's Conviction Buy List and raised his price target on the shares to $138 from $133. The analyst believes the worst is behind Alibaba after two years of downward earnings revisions with the largest room for valuation multiple repair amongst the mega-caps as its top line growth resumes and 2022-2025 earnings resume to mid-teens growth.
Oracle Upgraded to Overweight From Neutral at Piper Sandler
Piper Sandler analyst Brent Bracelin upgraded $Oracle(ORCL.US$ to Overweight from Neutral with a price target of $104, up from $85. The company's "model diversification narrative is just beginning" with only 11% of its 430,000 customer base adopting Oracle Cloud, Bracelin tells investors in a research note.
PayPal Downgraded to Sector Weight From Overweight at KeyBanc
KeyBanc analyst Josh Beck downgraded $PayPal(PYPL.US$ to Sector Weight from Overweight with a fair value estimate of $80, down from $100. The analyst says sustained share gain of the branded PayPal is likely to be increasingly difficult as the company is facing intensified competition from Apple Pay, Shop Pay and buy now pay later.
Source: Seeking Alpha, The Fly
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