Qualcomm, Algonquin, Target, Iovance, ON: Trending by Analysts

Analysts are intrested in these 5 stocks: ( (QCOM) ), ( (AQN) ), ( (TGT) ), ( (IOVA) ) and ( (ON) ). Here is a breakdown of their recent ratings and the rationale behind them.

Qualcomm’s stock is currently a topic of interest among analysts, with Jay Goldberg from Seaport Research Partners initiating coverage with a Neutral rating. Goldberg points out that Qualcomm’s core market is not expanding, and the company is losing market share. Efforts to diversify beyond mobile are ongoing but will take years to show results. Despite these challenges, Qualcomm maintains a strong position with many mobile customers, although no significant catalysts are expected in the near term.

Algonquin Power & Utilities has seen a recent downgrade by analyst Benjamin Pham to a Hold rating, despite strong Q1 results. The company has shown a solid share performance, but Pham believes this is already reflected in the stock’s price. The new CEO and strategic shifts towards a pure-play utility are viewed positively, but the stock’s current valuation suggests a more cautious approach. Long-term investors might still find value as the company aims to improve its returns.

Target has been downgraded to a Sell by analyst Zhihan Ma, who highlights the company’s struggle with balancing sales growth and maintaining margins. Short-term challenges include poor weather and weak consumer sentiment, while long-term structural issues persist. Target faces stiff competition from digital and off-price retailers, and its pricing strategy remains a concern. The company’s focus on e-commerce and promotional activities may further pressure margins.

Iovance Biotherapeutics has also been downgraded to a Hold by analyst Asthika Goonewardene. The company faces challenges with its TIL therapy for melanoma, despite being a pioneer in the field. Recent earnings missed expectations, and guidance has been sharply reduced. Iovance is working to address market dynamics and improve consistency in its performance, but concerns about volatility and low share prices remain.

ON Semiconductor has seen a Hold rating from analyst Joseph Moore, who highlights the company’s current trading position and future prospects. Moore takes a conservative view on gross margins and growth drivers, noting that ON’s stock is trading at a level that reflects some negativity. The company is expected to perform slightly better than the auto semiconductor market, but lacks a clear growth driver. Capital allocation strategies, including potential buybacks or acquisitions, are being considered as ON navigates its current challenges.