(Photo: 123RF)
What stock headlines and analyst reports got attention this week? Here is a press review which brings together various stock market texts.
September 11th
Market news:
• Canada considers incentives to ease housing costs — CBC. Canadian Housing Minister Sean Fraser is weighing a wide range of options to ease the country’s housing crisis, the CBC reported Sunday.
• Tesla’s supercomputer could increase market value by $600 billion — Morgan Stanley. Tesla’s Dojo supercomputer could boost the automaker’s market value by nearly $600 billion by boosting adoption of robotsaxis and its software services, Morgan Stanley analysts said.
• Google’s rivals are getting their day in court at the opening of a major antitrust trial in the United States. DuckDuckGo, which has long complained that Google’s tactics have made it too difficult to use its search engine on a mobile phone, will be one of several rivals to the online search giant in a one-of-a-kind antitrust trial that begins Tuesday.
• Canadian energy regulator halts unauthorized work near Trans-Northern gas pipeline. Canada’s energy regulator has restricted all work activities within 15 meters of the main line of the Trans-Northern pipeline, after construction work came dangerously close to the pipeline in Oshawa, Ontario, it said. -he declared on Friday.
• Grocery delivery app Instacart is targeting a $7.7 billion valuation in its U.S. IPO. Instacart is targeting a $7.73 billion valuation for its New York IPO, the grocery delivery service said, in another step toward a highly anticipated listing.
To monitor:
D2L (DTOL, $8.00): The stock has more upside than downside potential, according to the BMO analyst. Following the publication of the results for the 2nd quarter of its 2024 financial year and the conference that the software manufacturer D2L held earlier in the quarter with its users, Thanos Moschopoulos, analyst at BMO Capital Markets, somewhat reduces his earnings forecast for the full financial year 2024, while maintaining its “market-match performance” recommendation, as well as its one-year target price of $9.50.
Open Text (OTEX-Nasdaq, $39.02): an attractive valuation given its growth potential according to the National Bank Financial analyst. Richard Tse, analyst at National Bank Financial, participated last Wednesday in an investor meeting with the management of the Canadian company specializing in digital document management and data exchange whose head office is in Waterloo.
Boralex (BLX, $31.77): it completes its financing for the construction of the Apuiat wind farm. The Quebec renewable energy producer announced Friday that it had secured $608 million in financing for the 200 megawatt Apuiat wind farm project in northern Quebec. And although the project will only add about 3% to the company’s production growth, it still highlights the company’s progress at a time when investor sentiment is quite negative towards the sector, says Rupert. Merer, analyst at National Bank Financial.
