McDonald’s (MCD) – Shares were down 2% Tuesday morning following better-than-expected quarterly results but a 2023 outlook which suggested the company’s margins could be lower than the level reported in Q4 2022. Following the results, an analyst at Cowen called McDonald’s Q4 a “strong” end to 2022. The analyst was also pleasantly surprised with McDonald’s guidance unit growth amid higher capital expenses.
SoFi Technologies (SOFI) – Analysts at Oppenheimer issued a research note Tuesday morning and said “stick with SoFI and add [shares to a position] on downdrafts [in the stock price].” The stock closed up more than 12% on Monday following strong quarterly results.
Trade Desk (TTD) – A beneficiary following the Department of Justice’s lawsuit against Alphabet (GOOGL). Analysts at Needham noted that DoJ’s goal is to have Google give up control of its advertising technology. In addition to naming Trade Desk as a beneficiary following the eventual outcome of the suit, Needham analysts also mentioned Innovid Corp. (CTV) and Magnite (MGNI) as potential winners.
Bill.com (BILL) – Analysts at Piper Sandler Tuesday morning said: “recessionary headwinds [for Bill.com] might not be as bad as feared.”
Li-Cycle Holdings (LICY) – A play on lithium. Analysts at Chardan Research cut their price target on Li-Cycle from $13 to $10 while the firm maintained the equivalent of a buy rating.