Needham trims its Uber (UBER, $28.87) price target by $2 to $50, but maintains its ‘Buy’ rating, saying the bear case is getting thin with the valuation already attractive. The firm believes Uber is heading toward bookings re-acceleration in 2020.
SunTrust prefers market leader NVIDIA (NVDA, $173.04) over Xilinx (XLNX, $92.45) in the compute arena for server acceleration. The firm trims its Xilinx price target to $105 from $127, saying it prefers a more opportune entry point during this “downturn part” of the cycle. SunTrust still believes Xilinx is well positioned to deliver high returns and profitable growth over time.