© Reuters. Today’s Most Important Initiations
Jefferies initiated coverage on United Parcel Service (UPS) with a Buy rating and a $190 price target following the company’s reported Q3 results. The analysts believe the company is a best-in-class operator that has never been in a better position operationally to respond to a slowdown in demand, has demonstrated a track record of outperforming in prior recessions, and has a clear path to record earnings/ margins post a macro slowdown.
Jefferies assumed coverage on Avis Budget Group (CAR) with a Buy rating and a price target of $270.00. Shares rose more than 4% today.
DA Davidson initiated coverage on Roblox Corp. (RBLX) with a Buy rating and a price target of $55.00. Shares gained more than 9% today.
Truist Securities initiated coverage on Procept BioRobotics Corp (PRCT) with a Buy rating and a price target of $58.00. Shares surged more than 6% today. The analysts see the company driving above-average growth and more than tripling revenue by 2024 as utilization rises on a growing installed base.
Piper Sandler initiated coverage on Deckers Outdoor (DECK) with an Overweight rating and a price target of $440.00 due to momentum at HOKA, solid free cash flow and capital return to shareholders, and near-term tailwinds for UGG.
By Davit Kirakosyan
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