Bank of America analyst Vivek Arya’s recent discussions with investors about the U.S. Semiconductors sector have “overwhelmingly” been focused more on cycle worries such as peaking demand and rising Capex than company fundamentals. Arya coined a FANG equivalent, “MANGO,” or Marvell Technology Inc., Broadcom Inc., Advanced Micro Devices Inc., Analog Devices Inc., NVIDIA Corp., GLOBALFOUNDRIES Inc., and ON Semiconductor Corp. He believes…
US Treasuries See Biggest Inflows in Two Years as Recession Risks Rise: BofA
LONDON—Investors pumped money into U.S. Treasuries at the fastest pace in nearly two years in the week to Wednesday and yanked funds out of cash, inflation-linked debt, and credit as recession risks rose, BofA’s weekly flow report showed on Friday. Global equities saw a small $2.2 billion of inflows while investors pulled a massive $79.4…
Why This BofA Securities Analyst Is Cutting Airline Price Targets
The underlying fundamentals in the airline sector remain challenging. Against this backdrop, investors should focus on quality names such as Delta Air Lines, Inc., rather than those with higher operating and financial leverage like United Airlines Holdings Inc. and American Airlines Group Inc., according to BofA Securities. The Airlines Analyst Andrew Didora reiterated a Buy rating for…
Here’s Why BofA Remains Bullish On Alphabet
Bank of America analyst Justin Post raised the price target on Alphabet Inc. to $3,470 from $3,210 and reiterated a Buy rating on the shares. The price target implies an upside of 27 percent. The analyst expects deceleration in 2022 versus the 41 percent estimated search growth in 2021. However, he thinks Google is still early in applying…
Investors Raise Cash on Hawkish Central Banks Worries
December 14, 2021
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Investors raised cash allocations to 5.1 percent on growing concerns over central bank hawkishness, BofA Securities’ monthly fund manager survey showed before key policy decisions this week by the U.S. Federal Reserve and other big central banks. The U.S. investment bank said “hawkish central banks” was the biggest tail risk and that has sparked a…
Narrowing Equity Market Breadth May Signal a ‘Market Top’: BofA
December 3, 2021
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LONDON—Narrowing equity market breadth, rising volatility, and the prospects of rate hikes are the classic signs of a market top, BofA said in a weekly report on Thursday. Just five of the biggest U.S. technology stocks accounted for 71 percent of the nearly 20 percent gains in U.S stocks, BofA analysts noted of the performance…
Bank of America Upgrades Square to Neutral
Bank of America analyst Jason Kupferberg upgraded Square Inc. to Neutral from Underperform with a price target of $221, up from $210, implying a 3.85 percent upside. The “deceleration risk” of the company’s Cash App business has been “more appropriately” priced in as the stock now trades 25 percent below August highs and 15 percent…
GlobalFoundries Is at the Right Place, at the Right Time, BofA Says
GlobalFoundries Inc. is well-positioned with only a 10 percent share of an addressable market opportunity estimated at $70 billion, across smartphone devices, Internet of things, automotive and data center, according to Bank of America (BofA) Securities. GlobalFoundries Analyst Vivek Arya initiated coverage of GlobalFoundries with a Buy rating and a price target of $88. GlobalFoundries Thesis…
Equity Funds 2021 Inflows Hit $1 Trillion: BofA
November 19, 2021
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LONDON—Investors ploughed $13.2 billion into equity funds in the week to Wednesday, though fixed income inflows slowed and precious metals funds lost money as markets grappled with the prospect of rising yields and inflation, BofA said on Friday. Flows to stocks funds over the past week had helped lift total inflows into equities to $1.0…
Global Investors Ending 2021 ‘Risk-On’: BofA
November 16, 2021
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MILAN—Investors are heading towards the end of the year in a “risk-on” mood, having reduced cash allocations and lifted their overweight position on U.S. stocks to the highest since August 2013, BofA Securities’ monthly fund manager survey showed. Inflation remains the biggest tail risk for markets but a majority of 61 percent believes it is…
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