Bank of America Upgrades Stocks Outlook, Names Fisker as Top Electric Vehicle Pick

Bank of America analyst sees bullish indicators for stocks, raises S&P 500 target to 4,600.
Bank highlights Nutanix as a stock to buy, citing growth in annual contract value billings and annual recurring revenue.
Fisker started delivering its Ocean electric SUV this year, hitting a milestone that should lead to rising revenue.
Fisker reported first quarter of positive automotive sales revenue in Q2 as it ramps up Ocean production.
Bank of America analyst upgrades Fisker to Buy rating based on expected sharp increase in volumes, revenue, and earnings in 2024.

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Relevant topic timeline:

8/25/2023

The stock market will continue higher until these 2 things happen, Bank of America says

Bank of America believes that the stock market will continue to rise as investors' bullish sentiment contradicts their conservative portfolio positioning, suggesting there is still upside potential until hedge funds increase their exposure to cyclical and high-beta stocks and economic conditions deteriorate considerably.

8/31/2023

2 Ultra-Growth Stocks That Are Leading the Market Recovery

Investors are bullish on the market in 2023, with the Nasdaq Composite up 30% and two leading ultra-growth stocks, Amazon and Apple, poised to benefit from improving market conditions and their strong positions in multiple industries.

9/6/2023

Treasury yield jump is not 'death to equities,' BofA's Savita Subramanian says

Bank of America Securities' Savita Subramanian sees the recent jump in Treasury yields as a positive signal for the economy, with companies focusing on efficiency and productivity rather than leveraging buybacks and cheap financing costs, driving the next leg of the bull market.

9/17/2023

BofA: S&P 500 Could See 25% Surge in 2023 Based on Profit Growth Expectations

Bank of America predicts that the S&P 500 could surge over 25% within the next year based on a bullish indicator, with low long-term profit growth expectations among analysts signaling potential gains.

9/20/2023

Bank of America Raises S&P 500 Target on Bullish 2023 Outlook Despite Risks

Bank of America's head of US equity and quantitative strategy, Savita Subramanian, has raised the year-end target for the S&P 500 to 4,600, citing a bullish outlook and dismissing concerns of a consumer slowdown and Fed rate hikes.

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Posted 9/27/2023, 3:17:39 PM