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Argus upgrades SpaceX $SPCX to Buy, 'encouraged' by rapid payback on AI investments
Argus upgraded SpaceX to Buy from Hold with a $160 price target.
Despite an outlook for higher-than-expected capital expenditures, mostly for AI infrastructure, the firm is "encouraged" by the rapid payback on these investments given the "robust growth" in computing capacity, the analyst tells investors.
In its first quarter since coming public, SpaceX signaled a year-end 2026 revenue run rate approaching $100B, which the firm calls "significantly above our initial forecast."
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🔼Citi upgrades Ford $F to Buy on improving momentum
Citi upgraded Ford to Buy from Neutral with a price target of $20, up from $19.
Only three of the 18 analysts that cover Ford have a Buy rating but the company's momentum is turning, the analyst tells investors in a research note.
Citi believes F-series production ramps, lower warranty accruals, better aluminum supply and easing material costs are positive for Ford's second half of 2026.
The firm cites this improving momentum for the upgrade. The stock in premarket trading is up 7%, or $1.04, to $16.00.
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🔼AST SpaceMobile $ASTS upgraded to Sector Perform from Underperform at Scotiabank
Scotiabank upgraded AST SpaceMobile to Sector Perform from Underperform with a price target of $50.80, up from $41.20.
Valuation is "now in a grey area" between $40 and $60 per share following a 43% selloff since early January, notes the analyst, who sees opportunities and risks as "fairly priced in."
There may finally be a beta launch in the U.S. this year after multi-year delays, while the preliminary agreement between Rakuten and the Japanese government to deploy a subsidized homegrown D2D constellation "highlights SpaceMobile's global reach and impressive technology," the analyst added.
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$AMD price target raised to $640 from $515 at Jefferies
Jefferies analyst Blayne Curtis raised the firm's price target on AMD to $640 from $515 and keeps a Buy rating on the shares after the company announced the launch of new products and partnerships at Advancing AI 2026.
Advancing AI reinforced AMD's clear Server leadership while its AI story got more real, with two more marquee customers and a roadmap that potentially puts the company ahead of Nvidia, the analyst tells investors in a research note.
Both Anthropic and OpenAI talked about a quick ramp up of Helios and the newly introduced ROCm. AI should make that process even easier, the firm added.
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⚡️Iren $IREN price target raised to $90 from $85 at H.C. Wainwright
H.C. Wainwright raised the firm's price target on Iren to $90 from $85 and keeps a Buy rating on the shares.
The firm cites greater revenue visibility from the company's incremental AI contracts secured for the target boost.
Iren announced $2.8B of new multi-year AI cloud contracts with leading AI developers and raised its end of 2026 AI cloud annual recurring revenue target to more than $4B, up from $3.7B, the analyst tells investors in a research note.
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Bernstein analyst Mark Newman raised the firm's price target on SanDisk $SNDK to $3,000 from $1,700 and keeps an Outperform rating on the shares.
The firm noted that new memory long-term agreements, or LTAs, are different from older ones, as old LTAs were written in favor of the customer, while newer LTAs have fixed or range bound prices, include upfront financial commitments to lock-in customers and protect downside, and have longer terms.
Based on the data provided by companies, the firm estimates SanDisk's floor price in recently signed LAs is 29c per GB, which compares to a floor price for Micron meaningfully below Q2 levels, the analyst tells investors in a research note.
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Evercore ISI raised the firm's price target on Apple $AAPL to $365 from $330 and keeps an Outperform rating on the shares.
The firm sees a path for Apple to compound earnings and free cash flow at a low-to-mid teens pace, even if iPhone units were to growth "modestly," given durable Services growth and average selling price tailwinds from a shift toward premium models, says the analyst, who sees a "bull case target" of $500 for Apple shares.
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