00:00 Speaker A
Starting with Micron, shares getting a boost after UBS raised its price target to 245 from the prior 225, saying demand for its memory chips is stronger than expected.
00:09 Speaker A
UBS says Micron is benefiting from the surge in AI related demand, especially from big tech companies that need more data storage.
00:18 Speaker A
The firm now expects earnings to climb sharply next year with profit power potentially hitting $30 per share by 2026.
00:26 Speaker A
UBS calls this upcycle, quote, more durable than prior ones, and says margins could reach around 65% as supply remains tight.
00:33 Speaker A
UBS is keeping its buy rating on Micron, calling it one of the best ways to invest in the AI boom.
00:40 Speaker A
Next up, Lululemon. Shares are slightly lower after Bernstein downgraded the stock to market perform from outperform.
00:48 Speaker A
Analyst Anisha Sherman says sales trends in the US have worsened and that hopes for a 2025 rebound are fading.
00:55 Speaker A
She noted a short-term lift from Lulu’s Amex Platinum partnership, but did say the next big product push is still six months away and unproven.
01:03 Speaker A
Bernstein also cut its price target on shares to 190 from 220. The stock is now down more than 55% since the start of the year.
01:11 Speaker A
And finally, T-Mobile. The stock moving higher after Wells Fargo upgraded shares to overweight and named it its top carrier pick.
01:20 Speaker A
The firm highlighted T-Mobile’s network strength, growing free cash flow and steady market share gains, even as rivals like AT&T and Verizon turned more competitive.
01:31 Speaker A
Wells Fargo also raised its price target to 260 bucks a share, saying it expects the company to keep leading the wireless industry and subscriber growth.
01:40 Speaker A
The next catalyst for investors, earnings. T-Mobile slated to report results in just one week on October 23rd.
01:48 Speaker A
We’ll keep it right here on Yahoo Finance. We’ll be tracking all the market moves throughout the session.