Streetbeat News

Analyst Ratings

ACN

BMO Capital Markets analyst Keith Bachman has reiterated the Market Perform rating on Accenture Plc (NYSE:ACN), raising the price target to $360 from $355. Bachman expects Accenture to continue to drive strong revenue growth with steady margin expansion over time. He also sees potential for Accenture to become a leader in AI and generative AI, but notes that this will take time to impact signings and revenues. However, he also highlighted a potential negative impact of generative AI on the supply side, which could create revenue headwinds for Accenture and other IT services companies.

Portfolio Pulse from Nabaparna Bhattacharya

September 27, 2023 | 6:35 pm

SKY

Skyline Champion Corporation (NYSE:SKY) has invested about $138 million into Canadian company ECN Capital, acquiring 33.55 million ECN common shares and 27.45 million convertible preferred Series E shares. This investment gives Skyline access to ECN's subsidiary Triad Financial Services (TFS), a competitor in consumer manufactured home finance and floorplan lending. ECN Capital and SKY are forming a new entity, Champion Financing LLC, which will offer a consumer retail finance program and a branded floor plan offering. Wedbush analyst Jay McCanless reiterated an Outperform rating on SKY shares with a price target of $78.

Portfolio Pulse from Shivani Kumaresan

September 27, 2023 | 6:34 pm

DEO

Diageo's (NYSE:DEO) short percent of float has fallen 11.54% since its last report, with 1.32 million shares sold short, which is 0.23% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards Diageo. Compared to its peers, Diageo has less short interest as a percentage of float, with an average of 4.00%.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 6:30 pm

SCCO

Southern Copper's (NYSE:SCCO) short percent of float has fallen 3.92% since its last report, with 5.84 million shares sold short, which is 6.87% of all regular shares available for trading. It would take traders 6.1 days to cover their short positions on average. The company has more short interest than most of its peers, with an average of 3.84%.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 6:30 pm

HON

Honeywell Intl's (NYSE:HON) short percent of float has fallen 3.61% since its last report, with 5.33 million shares sold short, which is 0.8% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards Honeywell. Compared to its peers, Honeywell has less short interest as a percentage of float, with an average of 4.17%.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 6:30 pm

ADAUSD

BNBUSD

XRPUSD

Crypto analyst Nicholas Merten warns of potential price corrections for major cryptocurrencies, including Cardano (ADA), Ripple (XRP), and Binance Coin (BNB). He suggests that these digital assets might be on the brink of substantial downturns due to increased available supply from the release of previously locked assets. Merten's analysis is based on market liquidity and its impact on price direction.

Portfolio Pulse from Murtuza Merchant

September 27, 2023 | 6:20 pm

MSOS

TCNNF

Trulieve CEO Kim Rivers stated that Florida is poised to become the largest cannabis market in the US, citing the state's population and tourism. She sees a $6B market opportunity in Florida.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 6:19 pm

SPY

Economists and financial experts believe that a potential U.S. government shutdown would not immediately lead to a recession, but caution that the risk could increase if the shutdown is prolonged. Short-term shutdowns typically have a minor effect on the economy, but extended shutdowns could significantly impact economic growth. Analysts at Goldman Sachs noted that consumer confidence usually falls during shutdowns, but recovers in the following month. They also forecasted that a shutdown could reduce growth by about 0.2 percentage points per week, mainly due to federal workers not receiving salaries. However, growth is expected to rise by the same amount in the quarter following the shutdown. The SPDR S&P 500 ETF Trust (NYSE:SPY) fell nearly 6% this month due to the rising risk of a government shutdown.

Portfolio Pulse from Piero Cingari

September 27, 2023 | 6:17 pm

TM

A significant investor has taken a bearish stance on Toyota Motor (NYSE:TM), with 70% of recent trades being bearish and 30% bullish. The trades include 5 puts totaling $237,759 and 5 calls totaling $360,071. The targeted price range for Toyota Motor over the last 3 months has been $180.0 to $195.0. The current price of TM is up 0.48% at $181.37, and the next earnings are expected in 34 days.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 6:16 pm

SQ

A whale investor has shown a bullish stance on Block (NYSE:SQ), with 50% of investors opening trades with bullish expectations and 50% with bearish. The whale has been targeting a price range from $40.0 to $130.0 for Block over the last 3 months. The current price of SQ is down -1.77% at $44.02. Analysts have mixed ratings on Block, with price targets ranging from $65 to $90.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 6:16 pm