New for subscribers: Analysts see buying opportunities in stocks like Tesla and Netflix ahead of their earnings reports Check out CNBCPro for a free trial.
Goldman Sachs said in its initiation of the stock that it sees a "long-term secular growth" story in electric vehicle companies.
"We expect 2020 fundamentals to be very challenging cyclically. While we believe that the companies are generally much better positioned in terms of balance sheets and cash flow than the 2008/2009 downturn, we see broad-based downside to Street estimates for 2020. We therefore suggest that investors be selective with the group and own stocks that we expect to benefit from key long-term secular growth areas like EVs and are now more reasonably valued on an absolute basis.
Pivotal raised its price target on Netflix to a Street high and said the company is cementing its position as the dominant streaming service during the coronavirus pandemic.global subscriber forecasts materially on likely higher gross subscribers and lower subscriber churn boosted by global consumer "stay at home" orders around COVID-19, which combined with an increase in our terminal year target EBITDA multiple led to a $65 increase in our YE'20 target price to a Street high $490.
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