Biggest AI Analyst Moves This Week
Analysts made significant moves in the world of artificial intelligence (AI) this week. Let’s take a closer look at the top highlights.
Salesforce Receives Upgrades from Morgan Stanley and Wolfe
Morgan Stanley analysts raised their recommendation on Salesforce Inc, noting the potential for top-line upside. They highlighted the attractiveness of the risk/reward for CRM, emphasizing the company’s ability to drive growth in the coming years. Wolfe Research analysts also raised their recommendation on CRM stock, foreseeing double-digit upside to consensus FCF.
UBS Forecasts Increased AI Demand
UBS analysts are optimistic about the growth of generative AI, expecting global AI demand to grow significantly in the coming years. They anticipate a compound annual growth rate of 61% and see substantial upside risk to their estimates, driven by improving visibility on infrastructure spending and broadening AI demand for applications.
Morgan Stanley Identifies Favorite AI Stocks
Morgan Stanley analysts believe that the AI sector remains well-positioned, particularly within the software stocks landscape. They see potential rewards stemming from the significant and transformative impacts of Generative AI (GenAI) and have identified several favorite AI stocks, including Microsoft, Adobe, Snowflake Inc, Salesforce, and HubSpot Inc.
Macquarie Introduces GenAI Thematic Basket
Macquarie analysts introduced a GenAI thematic basket to offer investors a more diversified exposure. They expect 2024 to reinforce how the digital and physical worlds are converging into a singular, economic reality. The basket of stocks consists of Microsoft, ServiceNow Inc, Salesforce, MongoDB, CrowdStrike Holdings Inc, Powerschool Holdings Inc, and HubSpot.
Monness Crespi Hardt Bullish on Amazon’s AI Opportunity
Monness Crespi Hardt analysts maintained a positive outlook on Amazon.com Inc, noting the company’s well-positioned position. They anticipate that Amazon’s stock performance in the short term will be influenced by data points related to consumer spending during the holiday season.
These analyst moves demonstrate the growing influence of AI across various industry sectors. As the AI landscape continues to evolve, we can expect to see more impactful developments in the coming years.
