Streetbeat News

Analyst Ratings

CRGY

Stephens & Co. analyst Mike Scialla initiated coverage on Crescent Energy Company (NYSE:CRGY) with an Overweight rating and a price target of $17. The analyst believes the company is well-positioned for growth due to its low production base decline rates, strong balance sheet, and underappreciated asset quality. However, a significant decline in oil and natural gas prices could impact the company's near-term cash flow and EBITDA estimates.

Portfolio Pulse from Lekha Gupta

September 27, 2023 | 7:47 pm

BLNK

UBS analyst Robert Jamieson initiated coverage on Blink Charging Co. (NASDAQ:BLNK) with a Buy rating and a price target of $7. He highlighted the company's unique business model, margin improvement potential, and its position as the third largest public electric vehicle network of chargers in the U.S. He anticipates the company's revenue to be $180 million in 2024 and $250 million in 2025, 8% above the Street's estimate. Shares of BLNK were up 5.63% at $3.10 at the time of publication.

Portfolio Pulse from Ryan Gustafson

September 27, 2023 | 7:42 pm

MAT

Morgan Stanley analyst Megan Alexander initiated coverage on Mattel Inc (NASDAQ:MAT) with an Overweight rating and a price target of $27. Despite challenges in the toy industry and Mattel's own struggles, the analyst sees potential for growth driven by a strong gross margin recovery and higher capital returns. The success of the Barbie movie and related licensing efforts are expected to provide significant tailwinds, with benefits continuing into 2024.

Portfolio Pulse from Shivani Kumaresan

September 27, 2023 | 7:41 pm

ABCM

DHR

TMO

KeyBanc Capital Markets analyst Paul Knight has reiterated the Overweight rating on Danaher Corporation (DHR), but lowered the price target to $300 from $325. The life science tools sector, including DHR, has been underperforming in FY23 due to reduced demand and funding for early-stage biotech customers. However, Knight notes that Danaher has a high-growth and high-margin profile following the Veralto spin. The analyst estimates Danaher will post ~$28.7 billion of revenue in FY23, representing a 9.3% organic decline, or 0.6% growth excluding COVID-19 headwinds.

Portfolio Pulse from Nabaparna Bhattacharya

September 27, 2023 | 7:37 pm

COST

Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating on Costco Wholesale Corporation (NASDAQ: COST) and raised the price target from $535 to $585. Costco's Q4 revenues beat the consensus estimate, and the company is executing well with positive same-store sales and overall top-line growth. Membership trends remain healthy and productive club growth is continuing. The analyst expects continued compounding on top-line and EBIT in the mid-single-digit range.

Portfolio Pulse from Shivani Kumaresan

September 27, 2023 | 7:16 pm

ODFL

SAIA

Benchmark analyst Christopher Kuhn reiterated a Buy rating on Saia, Inc (NASDAQ:SAIA), raising the price target to $475 from $450. The analyst raised the price target and earnings estimates due to Saia's higher than expected 3Q operating data. Saia's increase in tons is attributed to Yellow Corporation's freight flowing into Saia's network. The analyst increased 3Q estimate to $3.42 from $3.25 and raised 2023 and 2024 EPS estimates.

Portfolio Pulse from Nabaparna Bhattacharya

September 27, 2023 | 7:16 pm

NOW

A significant amount of unusual options activity has been observed for ServiceNow (NYSE:NOW), with a majority of investors taking a bearish stance. The price range targeted by these investors over the last three months is between $350.0 and $630.0. HSBC and JMP Securities have downgraded their actions on ServiceNow, with price targets of $704 and $665 respectively.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 7:16 pm

TSM

A significant bearish stance has been taken on Taiwan Semiconductor (NYSE:TSM) as indicated by unusual options activity. The sentiment among big-money traders is split between 30% bullish and 69% bearish. The whales have been targeting a price range from $75.0 to $120.0 for Taiwan Semiconductor over the last 3 months. The price of TSM is up 0.93% at $85.07, and RSI indicators suggest that the stock may be oversold. The next earnings are expected to be released in 15 days.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 7:16 pm

CHPT

ChargePoint Holdings Inc (CHPT) shares are trading higher after UBS initiated coverage on the stock with a Buy rating and a $9 price target. UBS highlighted CHPT's significant presence in Level 2 chargers in North America, a deep customer base, and the expectation of reaching break-even EBITDA by fiscal fourth-quarter 2025. UBS also forecasts strong growth in EV charging demand, supported by EV adoption trends.

Portfolio Pulse from Henry Khederian

September 27, 2023 | 7:14 pm

SPOT

Spotify Technology (NYSE:SPOT) has received mostly bullish analyst ratings in the last quarter, with an average price target of $184.47, up 7.68% from the previous average price target of $171.31. The ratings are based on the analysis of 17 analysts offering 12-month price targets in the last 3 months.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 7:01 pm