"Carvana ( NYSE: CVNA) will be added to the S&P 500 on December 22. As a result, analysts at Bank of America reiterated a buy rating on the stock with a price target of $485 a share. After all, inclusion into the S&P 500 typically forces index funds and ETFs to buy shares of newly added stocks. In fact, it would help explain why the stock just gapped from about $400 to $433 a share."
"Analysts at Bernstein just reiterated an outperform rating on Nvidia ( NASDAQ: NVDA), citing a significant opportunity with data centers. After all, artificial intelligence will continue to create massive demand for data centers. Right now, according to MIT Technology Review, there are about 3,000 data centers across the U.S. Plus, according to a report from McKinsey, $5.2 trillion in AI infrastructure investments will be needed by 2030."
"McKinsey's analysis also suggests that demand for AI-ready data center capacity will rise at an average rate of 33 percent a year between 2023 and 2030 (reflecting a trend that is already underway), as reported by BOMA International. We also have to consider that AI demand isn't slowing, which increases the need for data centers. Forecasts now place AI's value between $1.7 and $3.5 trillion by the early 2030s, with the most aggressive estimates topping $7 trillion by 2035."
Carvana will be added to the S&P 500 on December 22, prompting Bank of America to reiterate a buy rating with a $485 price target. Inclusion typically forces index funds and ETFs to purchase newly added shares, which helps explain Carvana's recent gap from about $400 to $433. Wedbush recently upgraded Carvana to outperform. Other S&P additions include Comfort Systems, Mohawk Industries, Pinterest, Dycom Industries, and Marriott Vacations. Bernstein reiterated an outperform on Nvidia, citing massive AI-driven data-center demand and McKinsey's $5.2 trillion infrastructure estimate by 2030. Truist upgraded Five Below to buy with a $216 target, citing unicorn-like growth.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]