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News Spotlights Stocks

5 big analyst picks: Baidu upgraded to Overweight, Philip Morris rated as a Buy

  • June 20, 2023
  • 2 minute read
  • 3,250 Views
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Baidu upgraded at Morgan Stanley
Morgan Stanley upgraded Baidu (NASDAQ:BIDU) to Overweight from Equalweight and raised its price target to $190.00 from $160.00.

The company announced on Friday that it has secured a commercial license from regulators for its driverless ride-hailing service in Shenzhen. Baidu has already acquired licenses for fully driverless services in three other Chinese cities, namely Wuhan, Chongqing, and Beijing. It is currently awaiting a commercial license in Beijing.

Last month, the company reported its Q1 earnings, with EPS and revenues coming in better than the consensus estimates.

Philip Morris upgraded to Buy
Citi upgraded Philip Morris (NYSE:PM) to Buy from Neutral and raised its price target to $117.00 from $109.00. As a result, shares rose more than 1% in pre-market today.

The company is set to report its Q2/23 earnings next month. Street estimates stand at $1.49 for EPS and $8.78 billion for revenues.

3 more upgrades
JMP Securities upgraded EPR Properties (NYSE:EPR) to Market Outperform from Market Perform with a price target of $54.00.

US Foods (NYSE:USFD) shares rose more than 1% pre-market today after Morgan Stanley upgraded the company to Overweight from Equalweight and raised its price target to $54.00 from $46.00.

Credit Suisse upgraded Studio City International (NYSE:MSC) to Outperform from Neutral and raised its price target to $11.00 from $7.50.

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