MORGAN STANLEY

Jim Caron, CIO of Portfolio Solutions at Morgan Stanley Investment Management, discusses the current market conditions, characterizing them as more of a "reset" than a full retreat. He was joined by Daniel Flax, a Neuberger tech analyst, on "Power Lunch" to delve into strategies for investors, specifically addressing whether to "buy the dip" or avoid a "falling knife" scenario.

Morgan Stanley has downgraded Coinbase stock from "equal weight" to "underweight" and significantly reduced its price target to $120 from $258. Analyst Michael Cyprys cited a deterioration in confidence for an earnings recovery, pointing to sluggish crypto trading, a weaker revenue forecast, and unsettled crypto markets following a recent hack at Binance. This downgrade contradicts the general sentiment on Wall Street, where a majority of analysts recommend buying or holding Coinbase stock, which is down over 39% this year.

Mirae Asset Global Investments Co. Ltd. acquired 35,143 shares of DuPont de Nemours, Inc. (NYSE:DD) in the third quarter, valued at approximately $4.6 million. This purchase is part of broader institutional investment, with hedge funds and institutional investors owning nearly 74% of the company's stock. DuPont recently exceeded analyst expectations for its quarterly earnings and revenue, reporting $2.09 EPS and $1.87 billion in revenue, leading to a "Moderate Buy" consensus rating from analysts with an average price target of $165.88.

Glanbia shares dropped 6% after Morgan Stanley downgraded the Irish nutrition group to Underweight, citing concerns over intensifying competition and higher contracted whey costs. The bank warned that these factors could pressure Glanbia's 2027 margins and earnings, lowering its 12-month price target to €19.20. While Morgan Stanley raised its 2026 EPS estimate after Glanbia's Q3 beat, it noted a less favorable outlook for the following year due to competitive pricing and procurement costs.

JPMorgan has upgraded Sociedad Quimica y Minera (SQM) to Overweight from Neutral, despite lowering its price target to $71 from $88 due to reduced lithium price assumptions. The firm anticipates global lithium deficits in 2026 and 2027, driven by battery energy storage system demand, which could lead to a significant recovery in lithium prices. JPMorgan views SQM as undervalued and expects strong volume and cost performance, preferring it over Sigma Lithium in the Latin American lithium sector.

Cisco Systems (NASDAQ:CSCO) shares dropped below their 200-day moving average after Morgan Stanley downgraded the stock from Overweight to Equal Weight, citing concerns that accelerated AI-infrastructure growth could lead to a less profitable product mix. Despite the downgrade and a reduced price target, analyst sentiment for Cisco remains largely positive with a "Moderate Buy" consensus rating. The company's recent Q3 earnings beat estimates, and it announced a quarterly dividend, while insider selling and institutional investor activity also saw notable changes.

The Centers for Medicare and Medicaid Services (CMS) has released the final 2027 Medicare Physician Fee Schedule (PFS) and the Hospital Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Center (ASC) Payment System rules. Read on for early quick takes from both rules.

A twin catalyst of election outcomes and sharply lower crude oil prices drove a powerful postelection stock market surge on Wednesday, lifting equities across a wide range of sectors. The Dow Jones Industrial...