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Spirit Airlines Incorporated (NYSE: SAVE) shares were trading lower Thursday after the airline landed two Wall Street analyst downgrades.
The Analysts: Vertical Research analyst Darryl Genovesi downgraded Spirit from Buy to Hold and set a $34 price target.
Seaport Global analyst Daniel McKenzie also downgraded Spirit from Buy to Neutral and removed a $31 price target.
The Thesis: After Spirit shares gained more than 360% off their 52-week lows, there was little indication in the company’s fourth-quarter earnings report that the stock had significant upside from current levels in the near future, Seaport s McKenzie said in a downgrade note.
“We re walking away from SAVE s 4Q20 earnings release concluding that while 4Q results and a 1Q21 revenue outlook are as we expected, risk/reward is balanced at this point,” the analyst said.
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A new publicly traded pure play on urban air mobility is coming, with Blade announcing an SPAC deal Tuesday.
The SPAC Deal: Blade is going public via
Experience Investment Corp (NASDAQ: EXPC).
The $125-million PIPE includes new investors Hedosophia, KSL Capital and David Geffen and original investors Barry Diller, David Zaslav and Robert Pittman.
Airbus (Pink: EADSY), an investor in Blade, is keeping its ownership in the company.
KSL Capital is an investor in Ross Aviation, which operates 17 fixed based locations throughout North America, which could provide partnerships for Blade.
KSL also owns asset companies in the skiing, lodges, resorts and hotel industries, which could all be good partners for Blade.
Steam Data Suggests Nvidia, AMD On Track For Big Q4 yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
AMD continued to gain CPU market share from
Intel Corporation (NASDAQ: INTC) in November. While Intel still holds a 73.1% CPU market share, AMD’s share has crept up to new highs at 26.9%. Arya said the adoption of new 6000 series GPUs will likely drive a shift to higher-end GPUs in the medium-term.
Arya said Nvidia and AMD remain his top GPU stock picks due to exposure to massive, secular growth trends such as high-end gaming, artificial intelligence, advanced autos and cloud computing, and the opportunity to continue gaining market share from Intel and other competitors.
Benzinga’s Take: You’d be hard-pressed to find many analysts that question AMD and Nvidia’s impressive growth outlooks. As with many stocks in the market today, the debate over these two stocks hinges primarily on valuation, with AMD trading at 12.7 times sales, Nvidia trading at 21.7 times sales and Intel trading at just 2.6 times sales.