Author: Multibagger News

Emkay Global Upgrades Tata Motors Stock to ‘Buy’ Amid Sector Downturn – Analysts Remain Bullish on Growth Prospects Emkay Global has raised the rating for Tata Motors Ltd. (TTMT:IN) (NYSE: TTM) stock to ‘Buy’ with a price target of INR1,175.00, following a recent decline in the stock price. The firm’s decision comes amidst a challenging market environment influenced by factors such as reduced outlook for competitors like BMW and muted demand in key markets like China and India. Despite these challenges, analysts are optimistic about Tata Motors’ prospects, citing positive factors such as Jaguar Land Rover’s (JLR) strong position in…

Allegro Shares Plunge: Q3 2024 Earnings Forecast Disappoints, Market Reacts Allegro (WA:) Stock Drops Amidst Slower Earnings Growth Forecast for Q3 2024 Investing.com — Shares of Allegro (WA:) tumbled on Thursday following a disappointing forecast for the company’s third-quarter 2024 earnings growth. As of 5:12 am (0912 GMT), Allegro was trading 7.8% lower at PLN 35.70. The company has projected that Polish Gross Merchandise Value (GMV) growth will decelerate to a range of 10-11%, falling short of the 12% anticipated by market consensus. Revenue growth in Poland is projected to be between 16-18%, below the 19% forecasted by analysts. Furthermore,…

Investing.com — In a bold move, the Federal Reserve has slashed interest rates by 50 basis points, with analysts at Bank of America predicting further reductions later this year. The central bank’s updated policy forecasts indicate a potential dip in the benchmark fed funds rate to 4.25% to 4.5% by the end of 2024, setting the stage for more rate cuts in the near future. At a press conference, Fed Chair Jerome Powell emphasized the strength of the US economy and downplayed concerns about a recession. Despite this, the Fed is undergoing a “recalibration” of its rate policy, signaling a…

By Barbara Erling WROCLAW, Poland (Multibagger) – Poland’s third-largest city Wroclaw was bracing for peaking flood waters on Thursday, with early indications its defences were holding firm, after the worst floods in at least two decades ravaged central Europe this week. The flood wave that has inundated the Polish-Czech border region since the weekend reached Wroclaw overnight, but there were no signs of serious damage initially. “It is too early to announce that the flood in Wroclaw has been overcome,” Prime Minister Donald Tusk said during a meeting with a crisis team. “I would prefer that we hold on nervously…

BofA Securities Raises Price Target for PB Fintech Limited Stock to INR1,975.00 – Is It Time to Buy? In a recent update, BofA Securities has increased its price target for PB Fintech Limited (POLICYBZ:IN) stock, the parent company of PolicyBazaar, to INR1,975.00 from INR1,660.00. The Neutral rating on the stock remains unchanged, reflecting a reassessment of the company’s growth prospects and market position. PB Fintech’s dominance in the online insurance sector, with over a 90% market share, highlights its strong fundamentals. The company is well-positioned for growth in health and life insurance segments, which offer higher take-rates compared to motor…

Investing.com: Federal Reserve’s Bold Rate Cut to Boost US Treasury Yields, Says Bank of America Analysts In a surprising move, the Federal Reserve has aggressively slashed interest rates by 50 basis points, leading to a significant impact on the spread between the 2-year and 10-year US Treasury yields. According to analysts at Bank of America, this decision is expected to benefit spreads and could signal a new easing cycle by policymakers. The steepening of the yield curve, with long-term yields rising faster than short-term yields, has created opportunities for investors. The BofA analysts believe that the Fed’s projection of 100…

Investment Manager Reveals: Vietnam’s President To Lam To Visit US and Cuba, Will Meet Tech Giants Vietnam’s president and ruling Communist Party chief, To Lam, is set to embark on a working visit to the United States next week, followed by an official visit to Cuba, Vietnam’s long-term communist partner. The visit, scheduled from Sept. 21 to Sept. 27, will include participation in the 79th Session of the United Nations General Assembly in New York. During his U.S. visit, Lam is expected to deliver a speech at the UN event and meet with representatives from prominent U.S. corporations such as…

Unleashing the Potential of Myriad Genetics: A Comprehensive Analysis by the Top Investment Manager Morgan Stanley’s Coverage Initiation Propels Myriad Genetics Towards New Heights Myriad Genetics (NASDAQ: MYGN) is making waves in the genetic testing market, with Morgan Stanley recently initiating coverage on the stock. As a prominent genetic testing provider, Myriad Genetics is known for its hereditary cancer screening and pharmacogenomics services, particularly in the Oncology and Women’s Health sectors. The firm has given Myriad Genetics an Equalweight rating and a $32.00 price target, highlighting the company’s near-term growth potential. With recent exits of competitors and revenue cycle management…

Morgan Stanley Strategists Forecast Series of 25-Basis Point Interest Rate Cuts Through Mid-2025 In a note following the Federal Reserve’s half-point rate reduction announcement, Morgan Stanley strategists predict a series of 25-basis point interest rate cuts extending into mid-2025. This aligns with the Fed’s data dependency stance, with Chair Jerome Powell emphasizing the importance of flexibility in policy. The forecast includes two more 25-basis point reductions before year-end, bringing the rate down to 4.4%. The team expects the Fed to continue cutting rates into 2025, with an additional four 25-basis point cuts projected in the first half of next year.…

OSLO (Multibagger) – A Norwegian human rights foundation gave its annual prize on Thursday to jailed Cuban dissident leader Luis Manuel Otero Alcantara for his “fearless opposition to authoritarianism through art”. Four past laureates of the Rafto prize — Myanmar’s Aung San Suu Kyi, East Timor’s Jose Ramos-Horta, South Korea’s Kim Dae-jung and Iran’s Shirin Ebadi — later went on to win the Nobel Peace Prize. This year’s Peace Prize will be announced on Oct. 11 in Oslo. “The 2024 Rafto prize aims to highlight the importance of the work of Luis Manuel Otero Alcantara and other artists in challenging…