Stock market news live updates: Stock futures trade mixed after selloff - Yahoo Finance
Sep 23, 2020 6 mins, 48 secs

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Stock prices naturally fluctuate on the basis of several factors like earnings results and the macro environment, amongst others, with investors trying to time the market and determine when stocks have hit a bottom.

Mah commented, “We believe Progenity can sign additional Pharma deals and look forward to the newsflow coming out on this front.”To sum it all up, Mah said, “We believe Progenity shares are undervalued given the robust recovery in the core testing business and multiple upcoming growth catalysts.”To this end, Mah rates PROG an Overweight (i.e. Buy) along with a $17 price target.

Given the $13.33 average price target, shares could climb 60% higher in the next year.

(See PROG stock analysis on TipRanks)Tactile Systems Technology (TCMD)Developing at-home therapy devices, Tactile Systems Technology wants to provide new treatments for lymphedema, which occurs when the lymphatic system is impaired, disrupting normal transport of fluid within the body, and chronic venous insufficiency.

That being said, trends started to improve at the end of May.“Going forward, given the vast majority of TCMD’s clinician customers practice in outpatient or office-based settings, we remain positive on TCMD’s ability to demonstrate better insulation against COVID impacts and likely experience a greater bounce-back relative to overall med-tech volume trends, with TCMD further benefitting from its expanding using of technology to remotely engage with clinicians and support patients,” Furlong explained.The analyst added, “Furthermore, recent trends among some providers to prescribe Flexitouch (an advanced intermittent pneumatic compression device to self-manage lymphedema and nonhealing venous leg ulcers) earlier along the therapy process, as a means to reduce in-person contact, could provide upside near term, as well as potentially transition to a longer-term tailwind.”On top of this, Furlong is also optimistic about new CEO Dan Reuvers and the reprioritization of the company’s investment and market development efforts.

Going forward, we expect management to continue to compile a broad base of clinical data to support reimbursement and drive broad adoption,” Furlong commented.All of this prompted Furlong to keep a Buy rating and $62 price target on the stock.

Along with the call, he attached a $67 price target, suggesting 68% upside potential from current levels.

In addition, the $69.89 average price target indicates 75% upside potential.

(See QURE stock analysis on TipRanks)To find good ideas for beaten-down stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts.

He predicted the mortgage crisis, oil’s fall from $100 to $40, and the March stock market bottom.

By the close of trading Wednesday, SPI stock gained 1,237% to $14 a share and triggered at least seven volatility trading halts over four hours.

Trading volume Wednesday topped 340 million shares, more than 700 times its usual activity.

Using TipRanks’ Stock Comparison tool, we were able to evaluate these 3 stocks alongside each other to get a sense of what the analyst community has to say.Aptiv PLC (APTV)First on the list is Aptiv, the modern incarnation of long-time auto-parts supplier Delphi.

In line with this outlook, Jonas describes APTV as his ‘Top Pick,’ and sets a $150 price target indicating confidence in a robust 77% one-year upside for the stock.

The stock is currently selling for $84.51, and the average price target, at $100, suggests it has an 18% upside potential.

(See APTV stock analysis on TipRanks)Match Group (MTCH)Next on the list is Match Group, a Texas-based internet company in the online dating realm.

"MTCH has successfully grown each brand to be a dominate player within its respective space over the past three years, and we believe [the company's] apps have significant monetization opportunities going forward."Based on that long-term outlook, Cassel rates MTCH an Overweight (i.e. Buy) along with a $151 price target.

The stock is selling for $105.2, and the average price target, now at $119.71, implies a one-year upside potential of ~14%.

(See MTCH stock analysis on TipRanks)MGE Energy (MGEE)On the surface, the last stock on our list would seem to be a good buy.

To this end, Byrd rates this stock a Hold and his $64 price target implies shares will stay range-bound for the foreseeable future.

(To watch Byrd’s track record, click here)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts.

(Bloomberg) -- Tesla Inc.’s highly anticipated “Battery Day” fell short of expectations that helped fuel its $320 billion surge in market value this year, with Elon Musk outlining grandiose goals that will take time to pull off.The chief executive officer laid out a plan Tuesday to build a $25,000 car and cut battery costs in half over the next three years.

Baird’s Ben Kallo wrote in a Wednesday report naming Tesla a bearish “fresh pick.”That was echoed by Patrick Hummel, an analyst at UBS with a “neutral” rating on the stock, who said in a research note Tesla’s leadership in battery technology and costs is fully valued into the stock.

“Given the high expectations into the event, we think the market will initially respond negatively to the relatively long timelines of the innovations and the lack of granularity,” he wrote.Musk, 49, said Tesla wants eventually to produce 20 million cars a year.

Those incremental and longer-term advances belied expectations for a blockbuster leap forward, which Musk himself played up in the weeks leading up to the event.“The challenge with the stock is that everything they are talking about is three years away,” said Gene Munster, managing director of Loup Ventures.

“I think traditional auto is in an even tighter spot, but Tesla investors want this tomorrow.”Vertical-integration improvements -- from making its own battery cells on a pilot line at its factory in Fremont, California, to owning rights to a lithium clay deposit in Nevada -- are designed to allow Tesla to cut costs and offer a cheap car as soon as 2023.“This has always been our dream from the very beginning,” Musk said at the event focused on Tesla’s battery technology.

“In about three years from now, we are confident we can make a compelling $25,000 electric vehicle that is also fully autonomous.”Halving Battery CostsMusk is teasing prospects for a cheaper mystery model without ever having really delivered on the $35,000 price point he had long promised for the Model 3.

So Musk plans to expand global capacity by manufacturing battery cells in-house to supplement what it can buy.“Today’s batteries can’t scale fast enough,” said Musk, who is driven in part by the need to find sustainable energy sources.

“There’s a clear path to success but a ton of work to do.” Musk said the gasoline-powered internal-combustion engine will one day be obsolete.Musk described an “incredible series of innovations with varying levels of difficulty,” said Venkat Viswanathan, a battery expert at Carnegie Mellon University.

In addition to the pilot line for battery-cell production in Fremont, and Musk said the company also will make cells at the factory that is under construction in Berlin.Battery Cell ‘Leap’Most global automakers have shied away from making their own battery cells, citing the high investment costs and their lack of expertise in an industry dominated mostly by Asian electronics manufactures such as Panasonic Corp.

and LG Chem Ltd.Musk said in a tweet Monday that Tesla will need to start producing its own battery cells to support its various products, even as it ramps up purchases from outside suppliers.

Global sales are projected to drop about 17% this year to 75 million from 90 million last year, according to research firm LMC Automotive.(Updates with closing stock price in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P

The stock market resumed heavy selling as the Nasdaq and big cap techs hit key resistance and Tesla plunged after Battery Day

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