Streetbeat News

Analyst Ratings

JBL

Stifel analyst Matthew Sheerin reiterated a Buy rating on Jabil Inc. (NYSE:JBL), raising the price target to $135 from $120. Jabil's Q4 FY23 revenue was $8.46 billion, slightly below the consensus estimate. The company's FY24 outlook includes growth in key segments such as auto/transport, industrial, healthcare, and cloud. Jabil plans to spend $2.5 billion in share repurchases, which is expected to drive double-digit EPS growth in FY24 and FY25.

Portfolio Pulse from Nabaparna Bhattacharya

September 29, 2023 | 7:09 pm

CBOE

CME

Piper Sandler analyst Patrick Moley has reiterated an Overweight rating on Cboe Global Markets, Inc. (CBOE) and raised the price target to $174 from $160. The analyst expects CBOE to report its 5th consecutive record quarter for index options volumes and the 10th consecutive QoQ increase in volumes. CBOE shares are up 3.1% since the former CEO resigned, and the analyst suspects this is due to investors pricing in greater odds of a potential sale following the CEO's departure. CME Group Inc (CME) is considered the most likely acquirer if a sale occurs.

Portfolio Pulse from Nabaparna Bhattacharya

September 29, 2023 | 7:07 pm

INGR

Oppenheimer analyst Kristen Owen initiated coverage on Ingredion Inc (NYSE:INGR) with an Outperform rating and a price target of $120. The analyst believes Ingredion's investments in health-conscious products will drive growth and revenue diversification. Owen expects the company's volume recovery to lag modestly but sees near-term affordability alignment facilitating margin expansion. The analyst estimates revenue and adjusted EPS of $8.4 billion and $8.91 for FY23, $8.7 billion and $9.60 for FY24, and $8.9 billion and $10.24 for FY25, respectively.

Portfolio Pulse from Lekha Gupta

September 29, 2023 | 7:04 pm

DFIN

Needham analyst Kyle Peterson has reiterated a Buy rating on Donnelley Financial Solutions, Inc. (DFIN), raising the price target to $65 from $56. Peterson applauds DFIN's transition from print to software, which has boosted margins and efficiency. Despite margin compression due to weaker capital markets activity, Peterson expects margins to improve steadily in FY24 and beyond. The analyst also raised FY23 and FY24 revenue estimates for DFIN.

Portfolio Pulse from Nabaparna Bhattacharya

September 29, 2023 | 7:01 pm

AGCO

TRMB

Raymond James analyst Brian Gesuale upgraded Trimble Inc (TRMB) to Outperform from Market Perform, maintaining a price target of $65. The upgrade follows Trimble's joint venture deal with AGCO Corp to sell 85% interest in its Ag assets and technologies portfolio for $2.0 billion. The deal is expected to reduce Trimble's debt and enable a buyback capacity of about $700 million. The analyst also raised adjusted EPS and revenue estimates for FY23 and FY24.

Portfolio Pulse from Lekha Gupta

September 29, 2023 | 6:54 pm

TSLA

Wedbush analyst Daniel Ives expects Tesla Inc (TSLA) to announce Q3 delivery numbers in the 440k-445k range, lower than his earlier estimate of 460k/465k, due to longer-than-expected factory downtimes in Shanghai and Austin. Ives also lowered estimates for revenue and EPS for Q3 and Q4. Despite this, Tesla shares are trading higher by 1.10% at $249.11.

Portfolio Pulse from Lekha Gupta

September 29, 2023 | 6:49 pm

LEN

A significant investor has taken a bearish stance on Lennar (NYSE:LEN), with 60% of recent trades being bearish. The whales have been targeting a price range from $80.0 to $115.0 for Lennar over the last 3 months. The price of LEN is up 1.14% at $115.5. Several financial institutions have maintained their ratings on Lennar, with price targets ranging from $114 to $161.

Portfolio Pulse from Benzinga Insights

September 29, 2023 | 6:48 pm

WDAY

A significant bearish stance has been taken on Workday (NASDAQ:WDAY) by a large investor, with 70% of big-money traders being bearish. The price range targeted by these investors for Workday over the last 3 months is $190.0 to $250.0. The current price of WDAY is $214.58, up 1.59%. Analysts from Morgan Stanley, Citigroup, JMP Securities, and Needham have given price targets of $245, $236, $260, and $250 respectively.

Portfolio Pulse from Benzinga Insights

September 29, 2023 | 6:48 pm

JBL

Jabil Inc (NYSE:JBL) reported mixed Q4 results and strong Q1 earnings guidance. Q4 revenue was $8.46 billion, missing the consensus estimate of $8.54 billion, but adjusted EPS of $2.45 beat the consensus of $2.32. Q1 revenue is expected to be $8.4 billion-$9.0 billion, with adjusted EPS of $2.40-$2.80. Barclays and Stifel increased their price targets on Jabil following the earnings announcement.

Portfolio Pulse from Lisa Levin

September 29, 2023 | 6:37 pm

ACN

BMO Capital Markets analyst Keith Bachman has reiterated the Market Perform rating on Accenture Plc (NYSE:ACN), but lowered the price target to $350 from $360. Accenture's Q4 revenue growth was 4% Y/Y to $15.98 billion, missing the consensus of $16.07 billion. The company took a charge of $472 million in the quarter for restructuring, and is expecting $450 million in charges in FY24. ACN shares are trading higher by 2.02% to $306.84.

Portfolio Pulse from Nabaparna Bhattacharya

September 29, 2023 | 6:33 pm