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4 big analyst picks: C3.ai upgraded on AI mega-trend

Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at C3.ai, Chevron, Domino’s Pizza, and The Trade Desk.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

C3.ai upgraded following Q4 earnings, shares plunge on soft guidance

Wedbush upgraded C3.ai (NYSE:AI) to Outperform from Neutral and raised its price target to $50.00 from $24.00 following Q4 earnings, as InvestingPro reported in real time.

While Q4 EPS and revenue came in better than the consensus estimates, the soft outlook disappointed investors. As a result, shares fell more than 13% yesterday.

According to the firm, C3.ai has turned a corner and is ready to now capitalize on the $800 billion AI transformational opportunity over the next decade with use cases increasing across the board. Furthermore, Wedbush noted that the company is in a unique position to help lead the charge and monetize this looking ahead the next 12 to 18 months.

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Chevron earns another upgrade

RBC Capital upgraded Chevron (NYSE:CVX) to Outperform from Sector Perform and raised its price target to $180.00 from $165.00, noting that the PDC Energy (NASDAQ:PDCE) deal re-rates the company's FCF yield higher.

Looking forward, the bank believes the macro environment is likely to remain volatile, however, weaker end product demand and OPEC+ managing the oil market leaves the company’s upstream heavy weighting well-placed.

Earlier this week, JPMorgan upgraded the company to Neutral from Underweight with a price target of $170.00 (from $161.00).

2 more upgrades

Domino’s Pizza (NYSE:DPZ) shares rose more than 2% yesterday after JPMorgan upgraded the company to Overweight from Neutral and raised its price target to $360.00 from $340.00.

Morgan Stanley upgraded The Trade Desk (NASDAQ:TTD) to Overweight from Equalweight with a price target of $90.00, noting that the company is driving and benefiting from growth in CTV and retail media advertising.

As a result, shares closed more than 4% higher yesterday and gained around 3% pre-market today.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.