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NYSE governor: How to trade hot growth stocks in the new 'fast market' paradigm

Ex-NYSE floor governor, Jay Woods, joins Jared Blikre in the latest YF Premium webinar at 2 p.m. ET

U.S. blacklists Iranian individual, university under terrorism authority

·1 min read

WASHINGTON, Dec 8 (Reuters) - The United States imposed terrorism-related sanctions on Hasan Irlu, Iran's envoy in Yemen, Iran's Al-Mustafa International University and an Iran-based Pakistani citizen Yousef Ali Muraj, the U.S. Treasury said on Tuesday.

In a statement confirming an earlier Reuters report, the Treasury described Irlu as an official of Iran's elite Quds Force, the overseas arm of Iran's Revolutionary Guards Corps, and the university as a platform for Quds Force operations and recruitment abroad. It said Muraj supported Quds Force efforts to carry out operations in the Middle East and United States. (Reporting By Arshad Mohammed and Doina Chiacu Editing by Chizu Nomiyama)

Latest Stories

  • Kushner Cos. Spent the Trump Years Unwinding Scion’s Costly Bets

    (Bloomberg) -- Guy Fieri’s Times Square restaurant, where Jared Kushner and Ivanka Trump partied in late 2016 before heading to Washington, is gone. The office tower at 666 Fifth Ave., once the headquarters of the Kushner family’s real estate empire, has been sold. So too has a stake in a project in the trendy Dumbo neighborhood of Brooklyn.New York looks a lot different now than it did before Jared Kushner left town to take a job as a senior adviser to his father-in-law, President Donald Trump. Kushner Cos., the company where he was chief executive officer, has pulled back from the city, winnowing almost a decade’s worth of investments in a few years. Instead, it has relocated its ambitions to apartment complexes in New Jersey and Florida.It isn’t clear if Kushner will return to an active role in the company after four years in the White House, or even if he’ll go back to New York. The changes made in his absence by his father Charles Kushner and company president Laurent Morali come after a decade-long push into the city, most of it when Jared Kushner was CEO. Although there were successes, some of the biggest deals foundered. High purchase prices, excessive borrowing and unrealistic expectations were followed by declining valuations and debt renegotiations.Kushner Cos. didn’t respond to questions about whether Jared Kushner would rejoin the company or about the change in strategy. But Christopher Smith, its top lawyer, pointed in an email to a number of profitable transactions, including investments in Lower Manhattan and the Gowanus neighborhood of Brooklyn. He said other buildings had gained in value.During the Trump years Kushner Cos. chased investors from China, Qatar and Israel as Jared Kushner was helping shape foreign policy. He stepped down from his role at the company and transferred some of his assets to family members, but the structure of the divestments wasn’t clear, exacerbating ethics concerns.At the same time, the company purchased apartment buildings in the suburbs of New Jersey, Maryland and Virginia, markets that are now booming as people flee cities during the Covid-19 pandemic. It is also looking to break into new territory: multifamily projects in South Florida.Some of the transactions that brought the company to this point have been painful. The 2018 sale of 666 Fifth Ave. was necessary to pay off a loan incurred in 2007, at the peak of the market, when Kushner Cos. purchased the office tower for a then-record $1.8 billion. Jared Kushner didn’t become CEO until the following year, but he was involved in the negotiations and touted the purchase in a news release as having “great upside potential.”Saying goodbye to the property – a 99-year lease on the office space was sold to Brookfield Asset Management Inc. for $1.3 billion – was a comedown from plans to demolish the building and replace it with an even taller skyscraper in partnership with China’s Anbang Insurance Group, an option weighed by the company during Kushner’s first months in the White House.A few blocks away there’s the Times Square retail property – six floors of the building that once housed the New York Times. Kushner Cos. bought the space in 2015, and a year later raised $370 million of debt based on an appraisal price of $470 million, a 59% increase over what it had paid.Now it looks as though the financial assumptions underpinning that valuation were a mirage. To fill the building, Kushner Cos. turned to tenants whose need for space was great but whose assessment of demand for experiential attractions turned out to be misguided. There was an exhibit featuring digital dolphins, and another with detailed miniatures of world monuments.By the end of last year, Guy’s American Kitchen & Bar was closed, a planned food hall never opened, a third tenant went bankrupt and a fourth wasn’t paying full rent. Kushner Cos. defaulted on $85 million of its debt there last December, and an August appraisal put the property’s value at $92.5 million, lender records show, about a 70% drop from the purchase price.“The former New York Times building was really a retail disaster,” said Joshua Stein, a New York-based real estate attorney. “One concept after another failed.”Kushner Cos. also sold a less than 5% stake in the Watchtower complex in Brooklyn’s Dumbo neighborhood, acquired from the Jehovah’s Witnesses in 2016. Jared Kushner, whose father-in-law was running for president at the time, trumpeted plans to convert the buildings into stores and loft office spaces. Kushner’s father decided to refocus elsewhere.The list of New York sales since January 2017 includes two other Brooklyn development sites and apartments in Queens. The company hasn’t announced any major acquisitions in the city since then.Some New York deals that originated during Jared Kushner’s tenure have been successful. Three properties were sold for a combined gross profit of $239 million, according to data provided by Smith, the company’s lawyer. But that’s more than offset by about $200 million in operating losses at 666 Fifth Ave. after debt payments, figures provided by lenders to investors show, and a $200 million drop in value for the Times Square space.New York isn’t the only big city where Kushner Cos. is retrenching. The company has been in talks to offload its only Chicago office property, a 31-story tower originally built for AT&T Inc., for $188 million, a 32% discount from the 2007 purchase price and barely enough to cover the property’s mortgage.Investments in other markets have been ample. In 2019, the company made its biggest purchase in more than a decade, spending more than $1 billion on 6,000 apartments in the Baltimore and Washington suburbs. Two years earlier, it had teamed up with Israel’s largest asset manager to purchase 1,000 apartments in Plainsboro, New Jersey.The company’s return to its suburban roots might seem a surprising denouement, at least to those who thought Jared Kushner’s public role might facilitate private deal-making. But working for Trump often proved more awkward than lucrative.Kushner’s rising star attracted interest from investors who hadn’t done business with his family’s company. It also drew public scrutiny when his sister, Nicole Kushner Meyer, mentioned her brother’s White House role while pitching investors in China on a project in Jersey City, New Jersey. The company later apologized to anyone who interpreted her remarks as an attempt to lure investors.Anbang, which made real estate purchases across the U.S. prior to Trump’s China-bashing ascent to the White House, walked away from 666 Fifth Ave. soon after Bloomberg News reported details of a proposed deal with Kushner Cos. in early 2017 that would have provided a $4 billion construction loan and a $400 million payout to the Kushners. Chinese authorities seized Anbang the following year and imprisoned its chairman on unrelated fraud and embezzlement charges.Qatari royals also weighed an investment in 666 Fifth Ave. During the 2016 presidential campaign, Jared Kushner and his father had talked with Sheikh Hamad bin Jassim Al Thani, who’d previously served as Qatar’s prime minister and head of its sovereign-wealth fund, about investing in the tower. The deal would have included $500 million from the sheikh’s investment firm, contingent on finding other investors. Talks stalled after simultaneous negotiations with Anbang fell apart.One Kushner Cos. business partner who asked not to be identified discussing the closely held business said Jared Kushner’s work as Trump’s emissary to Israel and the Middle East introduced him to a new set of wealthy investors who could become partners once he returns to the private sector.Last week, on what may be his last trip to the region, Jared Kushner worked to bridge the divide between Saudi Arabia and Qatar, which had worsened after Saudi Arabia launched a blockade of its neighbor that Trump backed. A spokesman for the White House declined to comment.The company also is positioned to benefit from Trump’s 2017 tax law, which created incentives to invest in low-income neighborhoods designated as opportunity zones. One Florida development is in such an area, which allows investors to defer taxes on capital gains reinvested there. Kushner Cos. is expanding properties in zones in the New Jersey beach town of Long Branch. It has declined to say whether it’s taking advantage of the tax breaks, and no public disclosures are required.Whether he does come back to the family real estate business, Jared Kushner still owns a stake in Cadre, the startup he cofounded that sells fractional shares of investments in property deals. Cadre arranged to buy him out last year, but the deal was shelved after the pandemic hit, and the company has reduced staff and made other cutbacks. A spokesman for Cadre didn’t provide comment.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Dave Ramsey says beware these 10 major money 'don'ts'

    The financial expert and radio host says Americans stay poor because of these blunders.

  • I’m 63, unemployed since March, and have $220,000 in retirement savings — should I claim Social Security early?

    I am 63 and have been unemployed since March with unemployment benefits to run out by Dec. 24. Here is my question: Is this a good time to take Social Security to help subsidize my gig work or should I wait until my Full Retirement Age? See: Confused about Social Security — including spousal benefits, claiming strategies and how death and divorce affect your monthly income?

  • Goldman Sachs Picks 2 Electric Car Stocks to Buy (And 1 to Watch)

    Reducing carbon emissions is all the vogue among the green policy wonks these days, and whether you believe in the efficacy of those policies or not, one thing is undeniable: they will have an impact on your daily life. Specifically, they will impact the cars you drive – and probably your fuel and electric bills as well.It’s no secret that the Trump Administration has favored the oil and gas industry, and in fact, gasoline prices have declined during the past four years. The incoming Biden Administration is expected to look far more favorably on green policies, particularly the electrification of the automobile fleet. Electric vehicles have been with us for a while, and some models are achieving popularity and driver approval. The next step will be a governmental push, via policy, to make EVs cheaper to build, more affordable to buy, and more practical on the road.In a recent report from Goldman Sachs, the investment giant foresees global sales of electric vehicles hitting 1.8 million units this year, with 8.3 million by 2025 and an impressive 34 million by 2035. The result of this will be a reduction in the conventional car/electric car ratio of 18%.With this in mind, Goldman’s stock analysts are tapping two electric vehicle companies which are likely to succeed in the climate of the next four years – and one to watch from the sidelines. We've used the TipRanks database to get a better sense of what other Wall Street analysts think about the trio. Li Auto (LI)Li Auto is one of the myriad EV production companies that has cropped up in China in recent years. The Chinese domestic car market should not be overlooked – the country has a population near 1.4 billion, with some 800 million in the urban areas, and as a whole, China is rapidly growing wealthier. Li specializes in plug-in hybrids, which combine combustion engines and an electric drive train – and are especially useful in a country with a limited EV charging network. Li first model, the Li ONE, was put on the market in November of last year, and by this past October, the company had sold over 22,000 cars. That month, the sales volume hit 3,700, making the Li ONE China’s best-selling electric vehicle model. This company is a newcomer to the US stock markets, having held its IPO at the end of July this year. Share debuted on the market at $11.50, higher than the initial projected range. Since the IPO, shares in LI have gained 173%. Covering Li Auto for Goldman Sachs, analyst Fei Fang writes, “We believe Li Auto is differentiating itself from the broader Chinese auto-making industry by envisioning and creating compelling EV consumer experiences – and showing a willingness to take on the risk of unconventional technologies and act innovatively… driving transformations that will lead the long-term adoption of EVs in China. We view Li ONE as the first step in a larger innovation plan that will provide significant optionality value for the share price.”To this end, Fang rates LI a Buy along with a $60 price target. At current levels, this implies a 91% one-year upside. (To watch Fang’s track record, click here)Looking at the consensus breakdown, Wall Street takes a bullish stance on LI. 3 Buys and 1 Hold issued over the previous three months make the stock a ‘Strong Buy.' It should also be noted that its $36.65 average price target suggests 16% upside from the current share price. (See LI stock analysis on TipRanks)Tesla (TSLA)This company needs no introduction; Elon Musk, with his genius for promotion and notoriety, has seen to that over the past few years. He’s been helped along by the company’s successful efforts to address quality control and production bottlenecks, while introducing popular new models. The result: TSLA stock has skyrocketed 667% in 2020.The huge spike in share value has accompanied record-setting profits. Tesla turned profitable in 3Q19, and has remained so despite the impact of corona. The company’s 3Q20 results were nothing short of remarkable. Revenues rose to $8.8 billion, a 39% year-over-year gain and an even bigger 46% sequential gain. EPS rose 105% year-over-year, to hit 76 cents per share. And even better for the car maker: the free cash flow is solid, at $1.4 billion for the quarter.The third quarter results stood on a solid foundation of production and deliveries. The company reported 145,000 vehicles manufactured in the quarter, with nearly 140,000 delivered. Improvements in delivery efficiency have helped the company to cut back on its new vehicle inventory.Goldman analyst Mark Delaney is bullish on Tesla – and on the EV sector’s future, in general. He writes, “We believe that the shift toward battery electric vehicle (EV) adoption is accelerating and will occur faster than our prior view. We believe that battery prices are falling faster than we previously expected which improves the economics of EV ownership, and there has recently been an increase in regulatory proposals from some jurisdictions to limit or ban the sale of new internal combustion engine (ICE) vehicles entirely in 10-20 years.”Backing his bullish stance, Delaney rates TSLA a Buy. His price target, of $780, suggests an upside of 21% in the next 12 months. (To watch Delaney’s track record, click here)However, despite the huge gains in recent months, or maybe because of that, Wall Street remains cautious of Tesla. The analyst consensus rating is a Hold, based on 25 reviews, including 10 Buys, 8 Holds, and 7 Sells. The stock’s average price target is $403.24, indicating a possible downside of 37% from current levels. (See TSLA stock analysis on TipRanks)Nio (NIO)Last on our list is Goldman’s neutral call on Nio, another Chinese electric vehicle company. Nio has, in recent months, managed to stand out from China’s crowded domestic EV market, introducing new models and innovative ideas. The company’s current line-up includes three mid-size SUVs powered by lithium-ion batteries, and sports car, a 2-door coupe with water-cooled electric motors. The company has several models, including two sedans, a minivan, and another SUV, lined up for future release.Among the customer-oriented ideas that Nio is working with is ‘Battery as a Service,’ or BaaS. This concept divorces the battery from the vehicle, allowing car owners to purchase a monthly subscription and ‘refuel’ their vehicle by swapping out the battery assembly.Earnings, while still at a net loss, have been improving for the past four quarters, and Q3 revenue came in at $4.53 billion, the best in over a year. Year-to-date, NIO shares have shown tremendous growth -- the stock is up over 1000%.Noting that Nio has strength in its leading position in the market, Goldman's Fei Fang writes of the risks: “While Nio’s brand has been impressively established, we expect competition to heat up in the coming years with large OEMs launching comparable models, such as ID4 and Model Y… If our projected battery price declines / excess capacity does not come through and the industry works with tight manufacturing capacity and hefty EV component prices, it would weigh on Nio’s margin expansion.”Fang gives NIO shares a Neutral (i.e. Hold) rating. But the analyst might as well have said “buy” — because he thinks the stock, currently at $45.11, could zoom ahead to $57 within a year, delivering 31% profits to new investors. Overall, Nio’s stock gets a Moderate Buy analyst consensus rating, based on 7 Buys and 4 Holds. Meanwhile, the $49.01 average price target implies nearly 9% upside. (See NIO stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Cramer On Cruise Stocks: 'The Robinhood People Were Right'

    CNBC's Jim Cramer discussed why a commercial he saw for Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) might warrant a victory lap by young investors. What Happened: Norwegian has confirmed it won't set sail in the U.S. in the first few months of 2021, but that isn't stopping the company from advertising its cruises during NFL games.The Norwegian commercials feature people without masks having a "fabulous time" and enjoying themselves, Cramer said on CNBC's "Squawk on the Street."This suggests that there is still demand for cruises and proves "the Robinhood people were right," he said. Younger and millennial investors were known for scooping up cruise stocks during the earlier days of the pandemic.This move was considered foolish by some experts, who believed at the time the travel and leisure industry would take years to recover, if at all. "This younger generation says, wait a second -- people are going to cruise again, they are going to get a vaccine," Cramer said.By contrast, analysts and media pundits were "negative" on the sector, the CNBC host said. Why It's Important: Norwegian's stock by default should have fallen, as the company was active in listing new shares to raise capital, Cramer said. While the younger generation of investors may not understand this dynamic, he said they were optimistic cruise operators would figure out a way to survive the pandemic.What's Next: Norwegian has announced a new initiative to keep its guests safe. The company will install air purification and disinfection systems across all of its 28-ship fleet."They are going to figure it out," Cramer said.See more from Benzinga * Click here for options trades from Benzinga * Analyst Predicts How Disney May Respond To Time Warner's Direct-To-Streaming 2021 Movie Schedule * Chick-fil-A Takes Legal Action Against Chicken Producers, Alleges Price Fixing(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • These 2 Penny Stocks Could Surge Over 200%, Says Raymond James

    On Wall Street, it’s out with tech and mega-caps and in with small-caps, cyclicals and value. Investors  have been rotating away from the big names that powered the market’s record-breaking charge forward since its March low on encouraging COVID-19 vaccine news. At the same time, there has been a weaker U.S. dollar, steeper yield curve and a commodity price run-up.What does all of this mean? According to Raymond James strategist Tavis McCourt, it is “indicative of investor belief in strong economic growth in 2021, driven by economic re-opening and a ‘wall of cash’ sitting in bank accounts that will be deployed into the real economy in 2021.” The strategist adds that investor focus has landed squarely on a new stimulus package, which “only increases the chances for robust growth in 2021 as economies fully re-open.”“This outweighed significant evidence of slowing economic trends (jobs growth, Visa credit/debit card spending, Bloomberg high frequency data), which the market broadly is viewing as a short-term phenomenon until vaccines are deployed, as PMs continue to reposition portfolios in preparation for economic re-openings,” McCourt explained.Taking McCourt’s outlook into consideration, we wanted to take a closer look at two penny stocks scoring rave reviews from Raymond James. These tickers trading for less than $5 per share could gain over 200% in the next year, so say the firm’s analysts. Using TipRanks’ database, we found out what exactly makes both so compelling even with the risk involved with these plays.ADMA Biologics (ADMA)Operating as an end-to-end commercial biopharmaceutical company, ADMA Biologics develops specialty plasma-derived products for the prevention and treatment of infectious diseases in the immune compromised and other patients at risk of infection. Currently going for $1.94 apiece, Raymond James thinks that now is the time to pull the trigger.Representing the firm, analyst Elliot Wilbur points out that post-commercialization, the company's key products, Asceniv and Bivigam, continue to generate solid revenue. Both products were designed as treatments for primary humoral immunodeficiency (PI).“Recent numbers have benefited from what we believe is inventory accumulation derived from the increasingly positive positioning of plasma therapies around potential use in COVID-19, with year-to-date year-over-year September growth being 2.0% for the IG space and (2.9%) for the IVIG subsector,” Wilbur explained.Highlighting the approval of Gilead’s remdesivir as a COVID-19 treatment, Wilbur points out that it is “only a treatment and cannot be taken preemptively, keeping the door wide open for plasma therapies focusing on vaccine development.”Expounding on this, the analyst stated, “On the forefront of the vaccine race remains the CoVig-19 plasma alliance, a coalition of leading plasma players work with the National Institute of Allergy and Infectious Diseases (NIAID) to test hyperimmune therapies against COVID-19. The alliance, which consists of major players such as CSLBehring, ADMA, Octapharma, and Takeda, looks to accelerate the development of plasma therapies for COVID-19, aiding in potential regulatory clearance for associated therapies going forward... Ahead of results from the 500-patient trial, the alliance began manufacturing the plasma treatment viewing the likelihood of positive results and eventual approval as being ‘very high’.”Adding to the good news, ADMA is set to achieve its target of 5-10 plasma collection centers by 2025, with the company filing the Biologics License Application (BLA) for its third collection center on December 1. This center will go through an estimated 12-month approval process that involves both a review of the BLA as well as a site inspection. Approval could come in Q4 2021, according to Wilbur.In line with his optimistic approach, Wilbur rates ADMA an Outperform (i.e. Buy) along with a $7 price target. Should his thesis play out, a potential gain of 260% could be in the cards.Are other analysts in agreement? They are. Only Buy ratings, 5, in fact, have been issued in the last three months, so the consensus rating is a Strong Buy. Given the $6.65 average price target, shares could skyrocket 242% in the next year. (See ADMA stock analysis on TipRanks)InflaRx NV (IFRX)Making breakthrough discoveries in the area of anti-C5a antibody generation, InflaRx develops highly specific monoclonal antibodies targeting activation products of the complement system. Based on data from its peer, Raymond James believes that at $4, its share price presents an attractive entry point.ChemoCentryx recently reported the results from the Phase 2 AURORA study of C5aR inhibitor avacopan in hidradenitis suppurativa (HS), with the therapy missing its primary endpoint in all patients but working in a pre-specified ITT analysis of Hurley Stage III patients at the only active dose tested. Raymond James analyst Steven Seedhouse sees a positive readthrough for InflaRx.“A home run outcome for CCXI would have been negative for IFRX. Reason is, while it would have established proof of mechanism in HS (which is lacking), it would have encumbered IFX-1 competitively in HS but also indicate avacopan is just a better molecule in general (if it would've cleanly worked in an indication where IFX-1 Phase 2 data were ambiguous),” Seedhouse explained.This is not to say that a failure for ChemoCentryx would have been a win for InflaRx. According to Seedhouse, it would have “totally squashed the mechanism in HS since we know avacopan works elsewhere (ANCA vasculitis).”On top of this, InflaRx initiated the Phase 3 part of the Phase 2/3 PANAMO study in patients with severe COVID-induced pneumonia. With Alexion noting that their Phase 3 study in hospitalized COVID-19 patients with severe pneumonia or ARDS is already 30% enrolled and is expected to report initial data from a planned interim analysis in 1H21, Seedhouse argues a positive result would “likely have positive readthrough for IFRX, given validation of the complement mechanism in COVID-19.”Based on all of the above, Seedhouse rates IFRX an Outperform (i.e. Buy) along with a $15 price target. This target puts the upside potential at 273%. (To watch Seedhouse’s track record, click here)Turning to the rest of the Street, 3 Buys and 1 Hold have been assigned in the last three months. Therefore, IFRX has a Strong Buy analyst consensus. With an average price target of $10.50, shares could soar 161% in the year ahead. (See IFRX stock analysis on TipRanks)To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • I Sold My Tesla Shares, Will I Buy Them Back?

    A little after 7 am, I sold my Tesla . Tesla, in a filing with the SEC, revealed a plan to raise $5 billion in capital, selling common equity "from time to time" and at "at the market" pricing. The is the third capital raise of the year for Tesla and the second since September, which also amounted to $5 billion.

  • Fastly Shares Spike on Rumors of Potential Cisco Takeover Bid

    While a deal would make strategic sense, says Piper Sandler analyst James Fish, “we lean toward this being improbable.”

  • Stitch Fix shares rise nearly 50% in early trading after yesterday's earnings beat

    Investors are buying into the shares of publicly traded Stitch Fix, the personal styling online clothes store, after it reported much better-than-expected earnings yesterday. Shares of the company's stock were up $16.86, or 47.05%, in early trading on the Nasdaq stock exchange. For the company's fiscal first quarter, which ends Oct. 31, Stitch Fix reported earnings of 9 cents a share.

  • GE to prepay pensions, repay loan in latest debt reduction move

    The actions are the latest in a series of steps that GE's top boss Lawrence Culp has taken this year to turn the company around by improving free cash flow and cutting debt. The steps, along with scheduled maturities in the fourth quarter, are expected to cut debt by $9.6 billion in GE Industrial and $4.9 billion in GE Capital.

  • QuantumScape EV Batteries Can Be Charged Super Fast. Why That Matters.

    Electric-vehicle-battery start-up (QS) can get its lithium metal solid-state batteries to 80% full in 15 minutes without compromising battery life or safety. If QuantumScape’s (ticker: QS) technology scales up, it means a typical EV with some charge left—and with 200 or 300 miles of designed per charge range—could pick up about 200 miles of driving range in less than 15 minutes. Quantum released its data ahead of the company’s “solid state battery showcase,” which begins at 11 a.m. Eastern time.

  • Moderna Stock Is a Winner, But How Much Higher Can It Go?

    Future study books will linger long and hard on the tumultuous events of 2020. Among the mountains of interesting information, Moderna (MRNA) is very likely to get a mention.More specifically, along with Pfizer and BioNTech’s Covid-19 vaccine candidate, BNT162b2, Moderna’s mRNA-1273 could be noted as the first vaccine based on mRNA technology to gain regulatory approval.And that day could be fast approaching. Last month, Moderna reported data from the vaccine’s late stage study which showed mRNA-1273 had a 94.1% success rate in preventing the coronavirus, far above the 50% threshold required by the FDA to be considered for approval. Since then, the company has filed for emergency use authorization (EUA) and the FDA is set to review mRNA-1273’s data on December 17. The general consensus is that the vaccine will pass the test.Before the end of the year, Moderna expects to have 20 million doses ready for shipment in the U.S. and the company remains on-track to produce 500 million to 1 billion doses next year.While Pfizer and BioNTech have set their sights on manufacturing 1.3 billion doses in 2021, Piper Sandler analyst Edward Tenthoff notes how on one vital metric, mRNA-1273 trumps its rival’s offering.“mRNA-1273 has longer refrigeration shelf life,” the 5-star analyst said. “mRNA-1273 COVID-19 vaccine remains stable at 2-8 degrees C for 30 days. mRNA-1273 remains stable at -20 degrees C for up to 6 months and at room temperature for up to 12 hours. No dilution is required for mRNA-1273 at vaccination site. mRNA-1273 has a potential wider distribution when compared to Pfizer's -80 degrees C vaccine stability.”So, good news for Moderna, but what does it all mean for investors? Moderna shares have been on an absolute tear over the past 30 days, up by 130% and adding to the year’s previous haul; Overall, the stock is up by 765% in 2020. While Tenthoff still rates MRNA a Buy, at current levels, his expects shares to stay range bound for the foreseeable future as indicated by his $166 average price target. (To watch Tenthoff’s track record, click here)Overall, the rest of the Street thinks shares have surged enough for now. Going by the $126.43 average price target, the stock is set to decline by 25% in the year ahead. Nevertheless, overall, the analyst consensus rates the stock a Moderate Buy, based on 9 Buys, 4 Holds and 2 Sells. (See MRNA stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • The No. 1 investment mistake retirement savers are making: Vanguard study

    The question: Based on the performance data of the last 50 years, what are the rough odds that the U.S. stock market will perform better than non-U. S. stock markets over the next 12 months? The answer, using data from stock market financial data company MSCI, is C: About 50%. Since 1970, when MSCI first began tracking the numbers, the MSCI US stock market index has beaten the MSCI “ex-U. S.” index (i.e., everywhere else) 51% of the time: 26 out of 51 years.

  • Airbnb IPO Price Raised, With A Potential Valuation Near $42 Billion

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  • Toyota teases an electric SUV that will launch in 2021

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