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Nick Barber
July 03, 2024

💬 ”Once Tesla fully solves autonomy and has Optimus in volume production, anyone still holding a short position will be obliterated. Even Gates.” Elon Musk.

ANALYST STOCK TIPS
Uber and Adobe named Deutsche Bank’s top picks.

Uber was named a top stock pick by Deutsche Bank, adding it to its Fresh Money list, which contains its best ideas. With a price target of $95, analyst Benjamin Black sees a 34% upside on the current price of $71. He commented:

"The underlying growth algorithm at Uber remains strong, with driver supply and engagement continuing to support mobility growth, despite declining driver incentives."

Adobe was also added to the list, with a target price of $650 (14% above the current price of $567). Despite its NNARR (Net New Annual Recurring Revenue) declining for the past two quarters, Black commented:

"As pricing headwinds invert, new products become generally available, and enterprise adoption of Firefly (Adobe's generative AI product)... continued productivity enhancements from generative AI and users outgrowing freemium offerings should continue to support ARPU (Average Revenue Per User) growth in the future."

PayPal was upgraded to Positive from Neutral by Susquehanna. The price target, however, was unchanged at $71. While a drop in the current price to sub-$59 is a factor in the improved rating, analyst James Friedman was also impressed that "profitable growth is now a top priority for PayPal." New product offerings, including Fastlane guest checkout, "could help gain share at Christmas."

For the first time since the beginning of 2024, half the analysts following PayPal are bullish.

Atlassian, the company behind project management software Jira, was upgraded to Overweight from Neutral by Piper Sandler. Their new price target of $225, up from $200, represents a 24% upside.

"With shares at 8x CY'25E revenue, the risk/reward is now favorable for $TEAM. Eighty-two percent of Data Center seats are enterprise, suggesting enterprise customers will drive the next wave of cloud migrations, enhancing cloud growth. We view the current valuation as an attractive entry point into one of the most durable companies in our coverage."

Wells Fargo also recently gave the company a price target of $250.

CrowdStrike was downgraded to Neutral by Piper Sandler, with an unchanged price target of $400. They commented that "shares have deservedly risen to the highest revenue multiple of any public software company above $75B in market cap"; however, they do not see a near-term catalyst for raising the price even further. Essentially, this is a short-term value call:

"We are optimistic about the company longer term as well as the opportunity, just not the stock over our 12-month investment horizon."

PRESS STOCK TIPS
The London Times see value in GSK.

GSK (GlaxoSmithKline) plc has recently seen its market value decline sharply owing to legal challenges concerning its heartburn drug Zantac, which is feared by some to cause cancer. It has also been criticised for its handling of mergers and development of its Covid-vaccine.

However, The Times sees some room for profit:

While there is uncertainty looming over it, the business has been steadily improving its drug pipeline, fattening up its margins, and has a chunky dividend yield to boot.

It is also claimed that potential court costs are “already priced in.”

30 SECOND NEWS
Tesla and Revolut beat expectations.

  • 🚗 Tesla shares popped 24% in the last week. Better than expected order numbers caused its price to jump 10% over the last day.

  • 🏦 Revolut bank announced 438m profit in 2023, having made a £25 loss in 2025. With 45 million customers and high interest rates helping revenue, all eyes are on a potential IPO.

  • 🛫 Qatar Airways posted its biggest profit ever. The airline is thriving as its rivals struggle to grapple with supply chain issues.

  • 🪙 Robinhood is looking to offer cryptocurrency futures to its customers in the U.S. and Europe.