Streetbeat News

Analyst Ratings

TSLA

Tesla Inc's customer loyalty rate has increased to 90% as current owners opt to purchase another EV from the brand. Analysts from S&P Global Mobility believe the upcoming release of the Cybertruck will further increase brand loyalty. A survey by Bloomberg revealed that about half of Model 3 owners are considering the Cybertruck as their next vehicle purchase. The Cybertruck's potential starting price of around $50,000 is expected to increase its appeal to current Tesla owners.

Portfolio Pulse from Benzinga EV Insights

October 02, 2023 | 6:48 pm

DE

A significant bearish stance has been taken on Deere (NYSE:DE) by a large investor, as indicated by a large position in options. The overall sentiment of these big-money traders is split between 32% bullish and 67% bearish. The whales have been targeting a price range from $370.0 to $430.0 for Deere over the last 3 months. The price of DE is currently down -0.07% at $377.11. Evercore ISI Group, HSBC, and Canaccord Genuity have all downgraded their actions on Deere.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 6:45 pm

COST

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Costco Wholesale Corporation (NASDAQ:COST) with a price target of $575. Feldman expects Costco's traffic to increase by 5.5% and digital sales to remain flat. He also anticipates Food & Sundries and Fresh Foods to outperform due to healthy at-home consumption trends. Despite uncertainties, Feldman believes Costco will continue to gain share with solid sales and high membership renewal rates. He forecasts a total comp of 3.8% versus 8.5% last year.

Portfolio Pulse from Shivani Kumaresan

October 02, 2023 | 6:34 pm

OKE

Scotiabank analyst Tristan J. Richardson upgraded ONEOK Inc (NYSE:OKE) to Sector Outperform from Sector Perform, raising the price target to $78 from $74. The upgrade follows ONEOK's recent acquisition of Magellan Midstream Partners for $18.8 billion. The analyst projects ONEOK to generate around 50% of FY24 EBITDA from stable cash flow businesses and expects a 6% dividend increase in FY24. Despite the positive outlook, OKE shares are trading lower by 2.14% at $62.08.

Portfolio Pulse from Lekha Gupta

October 02, 2023 | 6:28 pm

ZS

Piper Sandler has upgraded Zscaler's stock from Neutral to Overweight and raised its price target from $160 to $190. This has resulted in Zscaler shares trading higher.

Portfolio Pulse from Bill Haddad

October 02, 2023 | 6:26 pm

SEDG

Barclays has downgraded SolarEdge's stock from Overweight to Equal-Weight and reduced its price target from $274 to $152. As a result, SolarEdge shares are trading lower.

Portfolio Pulse from Bill Haddad

October 02, 2023 | 6:22 pm

SPOT

Truist analyst Matthew Thornton has reiterated a Buy rating on Spotify Technology S.A. (NYSE:SPOT) with a price target of $176. The rating is based on the continued momentum of mobile app downloads and focus on margins/monetization. Thornton projects Q3 revenue of €3.34 billion vs. consensus of €3.32 billion, and Q4 revenue of €3.65 billion vs. consensus of €3.69 billion. SPOT shares traded higher by 1.96% at $156.57 on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

October 02, 2023 | 6:22 pm

PM

Stifel analyst Matthew Smith reiterated a Buy rating for Philip Morris International Inc (PM) with a $114 price target. Smith believes that PM's shares are undervalued and do not reflect the growth potential from its smoke-free transition. PM's new medium-term guidance targets include 6-8% organic sales growth, 8-10% operating profit growth, and 9-11% EPS growth. PM is targeting 180 to 200 billion heated tobacco unit volumes by 2026 and nicotine pouch cans in the 800 million to 1 billion range. PMI gains access to IQOS in the U.S. beginning in May 2024.

Portfolio Pulse from Anusuya Lahiri

October 02, 2023 | 6:17 pm

DUK

Duke Energy's (NYSE:DUK) short percent of float has risen 12.84% since its last report, with 9.47 million shares sold short, which is 1.23% of all regular shares available for trading. It would take traders 2.12 days to cover their short positions on average. The company's short interest is less than its peer group average of 2.21%.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 6:15 pm

MCK

McKesson's (NYSE:MCK) short percent of float has risen 11.48% since its last report, with 1.83 million shares sold short, which is 1.36% of all regular shares available for trading. It would take traders 2.69 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 7.28%.

Portfolio Pulse from Benzinga Insights

October 02, 2023 | 6:15 pm