In this article, we take a look at five stocks that are in the spotlight on Monday. If you want to take a look at some more stocks that are trending today and the latest market situation, go directly to Why These 10 Stocks Are Trending on Monday.
5. Synchrony Financial (NYSE:SYF) is down 4.5% as of 12:18 PM ET after the Stamford, Connecticut-based consumer financial services company was downgraded from an Overweight rating to an Equal Weight rating by Betsy Graseck at Morgan Stanley. Meanwhile, the price target was lowered by more than 28% to $40. Synchrony Financial (NYSE:SYF) stock was also removed from the ‘Fresh Money Buy List’ at Morgan Stanley. The analyst highlighted that “war changes everything” and that the rapid pace of inflation due to the rise in global commodity prices will result in an interest rate hike, leading to increased credit risk for consumer financing companies. Furthermore, the emergence of an inverted yield curve could slow down growth and make a case for recession. Of the 924 hedge funds in Insider Monkey’s database, 34 funds had a holding in Synchrony Financial (NYSE:SYF) at the end of Q4 2021.
4. Adobe Inc. (NASDAQ:ADBE) has risen 2% as of 11:09 AM ET after Joseph Bonner at Argus reiterated a Buy rating on the stock with a target price of $575. Bonner shared that he still sees a potential upside of over 33% from the last closing stock price. In a report issued to investors on March 28, the analyst highlighted that the stock’s valuation has taken a significant dip due to the sell-off across the technology sector and is currently hovering around the historically lowest level. Bonner also highlighted that the revenue growth of the San Jose, California-based software company is declining from a high level of more than 20% during FY21, but the product pipeline and the innovation taking place at Adobe Inc. (NASDAQ:ADBE) “remain solid.” As of Q4 2021, 94 hedge funds held a stake in Adobe Inc. (NASDAQ:ADBE).
3. AMC Entertainment Holdings, Inc. (NYSE:AMC) has soared more than 26.6% as of 11:26 AM ET after the CEO of the Leawood, Kansas-based company said that the movie-theater chain would move forward with more “transformational” deals. The company piqued the interest of retail investors after taking a 22% stake in a troubled gold and silver mining corporation around two weeks ago. CEO Adam Aron highlighted that AMC Entertainment Holdings, Inc. (NYSE:AMC) raised $1.8 billion in 2021 as retail investors turned the company into a ‘meme’ stock. As of Q4 2021, 17 hedge funds held a stake in AMC Entertainment Holdings, Inc. (NYSE:AMC), with a combined portfolio value of $328 million.
2. Advanced Micro Devices, Inc. (NASDAQ:AMD) has fallen 1.8% as of 12:39 PM ET after the Santa Clara, California-based semiconductor giant was downgraded from Conviction Buy to Buy rating by Toshiya Hari at Goldman Sachs. The analyst maintained a target price of $127, reflecting a potential upside of 6.1% from the last closing price. Hari is positive about the company’s growing share in the server CPU and data center GPU markets along with the expansion of gross and operating profit margins. The analyst anticipates the forecasts to stabilize as the total addressable market (TAM) of personal computers (PC) would decline, and the demand for Graphics Processing Units (GPU) would adjust. Advanced Micro Devices, Inc. (NASDAQ:AMD) was held by 69 hedge funds at the end of Q4 2021.
1. Tesla, Inc. (NASDAQ:TSLA) is up 7.5% as of 10:49 AM ET after the electric vehicle company announced its plan to request shareholders to give the go-ahead to an increase in the number of authorized shares of common stock through an amendment to the company’s Amended and Restated Certification of Incorporation. In case of approval, Tesla, Inc.’s (NASDAQ:TSLA) planned stock split can be carried out at the 2022 Annual Shareholder’s Meeting. The shareholders will receive the common stock following the split as a dividend. As of Q4 2021, Tesla, Inc. (NASDAQ:TSLA) was held by 91 hedge funds, with a combined value of $12.91 billion. On a sequential basis, the number of hedge funds having a position in Tesla, Inc. (NASDAQ:TSLA) has increased by 31 or more than 51%.
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