Morgan Stanley: Memory supply tension expected to last at least two to three years, Micron target price raised to $1,050

On October 8, JPMorgan downgraded its rating for marketing software company HubSpot (HUBS.N) from “Overweight” to “Neutral,” and also lowered its price target from $268 to $240, which still represents a 23.6% upside from the previous trading day’s closing price. The report pointed out that the timeline for a recovery in revenue growth is “still unclear.” “Although HUBS shares have fallen by more than 40% so far this year, until there are clear signs that the growth slowdown has bottomed out, we do not expect to see renewed investor interest or a significant re-rating of the stock price,” said JPMorgan. Out of 37 brokerages, 13 rate the stock as “Buy” or higher, 23 as “Hold,” and 1 as “Sell”; the median price target is $250, according to Reuters compiled data. Including fluctuations on the day, the stock has declined by 45.2% year-to-date. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Automated translation may be incorrect or lack the intended context; Reuters does not guarantee the accuracy of automated translations and provides them solely for readers' convenience. Reuters assumes no liability for any damages or losses arising from the use of automated translation features.)

Reuters, October 8 - According to the Financial Times on Thursday, Starbucks (SBUX.O) had considered acquiring the restaurant chain Chipotle Mexican Grill (CMG.N). (To assist non-native English speakers, Reuters provides automated translations of its reports into several other languages. Due to the possibility of errors in automated translations or the lack of necessary context, Reuters does not guarantee the accuracy of these automated translations, which are provided solely for reader convenience. Reuters bears no responsibility for any damage or loss resulting from the use of automated translation features.)

On Thursday, optical communication concept stocks fell across the board, with Applied Optoelectronics (AAOI.US) down more than 5%.