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Investors should start building a position in Builders FirstSource , according to UBS. Analyst John Lovallo initiated coverage on the stock with a buy rating, with his price target of $232 implying more than 27% upside from Thursday's close. Lovallo joins 11 other analysts covering the stock on Wall Street who have a strong buy or buy rating, per LSEG. Of the 16 analysts in total, the remaining four have taken a neutral stance. With a "structurally underbuilt" housing market in the U.S., Lovallo thinks the homebuilder is well positioned for growth ahead, seeing current headwinds subsiding in 2025. "In our view, the market appears overly cautious on BLDR's growth potential over the next few years given ongoing softness in the multi-family market, decreasing building materials per housing st...

Recent consumer survey data on iPhone sales points to a lack of growth for Apple , according to KeyBanc Capital Markets. Analyst Brandon Nispel downgraded the megacap tech name to underweight from sector weight, and his $200 price target reflects more than 13% downside ahead, as of Thursday's close. Shares fell nearly 1% in the premarket following the analyst's move. Year to date, the stock has soared nearly 20%. AAPL YTD mountain AAPL, year-to-date Nispel thinks the iPhone SE is "not purely additive" to overall iPhone sales, citing data from the firm's consumer iPhone survey for September. The survey showed that 59% of respondents are interested in upgrading to the iPhone 16. Additionally, among those who are likely or extremely likely to upgrade to the iPhone 16, 61% are interested in th...

People walk past an advertisement for the iPhone 16 Pro at an Apple store during National Day holiday on October 3, 2024 in Chongqing, China.Cheng Xin | Getty Images News | Getty ImagesApple rejoined the ranks of the top five smartphone vendors in the China in the third quarter, helped by the launch of the iPhone 16, data released on Friday showed — but its growth was still outpaced by domestic rival Huawei.Apple stood at second position by market share in the third quarter, according to International Data Corporation (IDC). The tech giant took a 15.6% slice of the Chinese market over the period, down from 16.1% in the third quarter of last year. The company's shipment growth to China flatlined year-on-year in the third quarter. Apple stood at second position by market share in the third q...

Supporters of the ruling Georgian Dream party at the party's final campaign rally in Tbilisi on Oct. 23, 2024, ahead of the Oct. 26 parliamentary elections.Giorgi Arjevanidze | Afp | Getty ImagesParliamentary elections in Georgia this weekend have been described as the vote "of a lifetime" that will determine whether the country moves toward Russia or the West.The vote on Saturday is being closely watched for whether the ruling "Georgian Dream" party — which has morphed from an expressly pro-Western grouping over its 12 years in power to a decidedly pro-Russia one in recent years — can hold on to office, or whether it will unseated by pro-Western opposition parties.Voter polls in the run-up to the vote are considered unreliable as they have generally been commissioned or conducted by pro-o...

A DJI Inspire 1 Pro drone is flown during a demonstration at the SZ DJI Technology Co. headquarters in Shenzhen, China, on Wednesday, April 20, 2016.Qilai Shen | Bloomberg | Getty ImagesChina's Ministry of Commerce on Thursday emphasized the country's efforts to restrict illegal exports of military goods to Russia as it seeks to cast Beijing as a neutral player amid the ongoing war in Ukraine.The remarks were made during the week of the BRICS summit in Kazan, Russia. In a meeting on the sidelines of the summit, Chinese President Xi Jinping had told Russian President Vladimir Putin the two countries' "profound" relationship will not change despite the turbulence in global geopolitics.China has walked a diplomatic tightrope throughout the Russia-Ukraine war. Beijing has not condemned Russia ...

After the European Central Bank cut interest rates for the third time this year — and inflation fell below target — all eyes are now on policymakers' next move.A slew of Governing Council members spoke to CNBC's Karen Tso at the International Monetary Fund's annual meeting in Washington, D.C. this week. We asked them about the inflation outlook, the chances of a jumbo 50-basis-point interest cut in December, and more.Mārtiņš Kazāks, Bank of LatviaOn a 50-basis-point rate cut: "Well, everything should be on the table, you know, given what the data tells us. But we will have that discussion in December, and we will have the discussion then early next year, and from meeting to meeting ... With us approaching the 2% target, and with the economy being quite weak for the rates, the way is down a...