Streetbeat News

Analyst Ratings

PAYX

Paychex, Inc. (NASDAQ:PAYX) is expected to report higher Q1 earnings for fiscal 2024 on Sept. 27, 2023. Analysts predict earnings of $1.12 per share, up from $1.03 per share a year ago, and revenue of $1.29 billion, up from $1.19 billion. The company's shares fell 1.4% to close at $112.72 on Tuesday. Recent price target changes by analysts range from $115 to $134.

Portfolio Pulse from Lisa Levin

September 27, 2023 | 6:17 am

F

RIVN

Jim Cramer, host of CNBC’s “Mad Money”, has recommended Rivian Automotive Inc. (NASDAQ:RIVN) as a potential investment opportunity in the electric vehicle sector. This follows a positive outlook from Baird, an independent investment bank, which expects Rivian to surpass third-quarter delivery estimates due to improved margins and increasing demand. Baird maintained an outperform (buy) rating on Rivian’s stock with a price target of $30 per share, a 42% premium to its current price of approximately $21.

Portfolio Pulse from Benzinga Neuro

September 27, 2023 | 3:04 am

STLD

Over the past 3 months, 7 analysts have published their opinion on Steel Dynamics (NASDAQ:STLD) stock. The company has an average price target of $108.14, an increase of 2.21% from the previous average price target of $105.80. The ratings include 2 bullish, 3 indifferent, and 2 somewhat bearish.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 9:00 pm

MTCH

Match Group (NASDAQ:MTCH) has received 9 analyst ratings in the last quarter, with 1 being bullish, 6 somewhat bullish, and 2 indifferent. The average 12-month price target for the company is $59.9, an increase of 4.83% from the previous average of $57.14.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 9:00 pm

MCD

A significant bearish stance has been taken on McDonald's (NYSE:MCD) as observed from unusual options activity. The overall sentiment of these big-money traders is split between 27% bullish and 72% bearish. The whales have been targeting a price range from $220.0 to $300.0 for McDonald's over the last 3 months. The price of MCD is currently down -0.76% at $267.72. Analysts from Truist Securities, Tigress Financial, Wells Fargo, and TD Cowen have maintained or adjusted their ratings and price targets for McDonald's.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 8:45 pm

T

A significant investor has taken a bearish stance on AT&T (NYSE:T), with 63% of recent trades being bearish and 36% bullish. The majority of these trades are puts, totaling $1,591,643, with calls totaling $149,195. The targeted price range for AT&T over the last 3 months has been $10.0 to $30.0. The current price of AT&T is $15.02, down 0.27%. Citigroup has upgraded AT&T to a 'Buy' with a price target of $17.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 8:45 pm

ARM

NVDA

Needham analyst Charles Shi maintained a Hold rating on Arm Holdings Plc (NASDAQ:ARM). The bull/bear debate on Arm's growth prospects is based on whether investors can underwrite Arm's outer-year growth targets. Bullish investors believe Arm will reach $4 billion+ revenue and ~$1.70 EPS in FY26, while bearish investors believe these targets are only achievable if everything goes according to plan. Arm's role in Nvidia Corp (NASDAQ:NVDA) Grace is seen as too small to be meaningful.

Portfolio Pulse from Anusuya Lahiri

September 26, 2023 | 8:31 pm

IBM

A significant amount of unusual options activity has been detected for IBM (NYSE:IBM), with a bearish stance being taken by a majority of investors. Of the 11 strange trades detected, 45% were bullish and 54% were bearish. The total amount for puts was $1,091,161 and for calls was $360,439. Whales have been targeting a price range from $60.0 to $150.0 for IBM over the last 3 months. RBC Capital has downgraded its action to Outperform with a price target of $188.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 8:30 pm

WFC

Unusual options activity has been observed for Wells Fargo (NYSE:WFC), with a large position indicating a bullish stance. The sentiment among these big-money traders is split between 62% bullish and 37% bearish. The options activity suggests a target price range from $32.5 to $45.0 for Wells Fargo over the last 3 months. Deutsche Bank and HSBC have downgraded their actions to Buy and Hold respectively, with price targets of $44 and $45.

Portfolio Pulse from Benzinga Insights

September 26, 2023 | 8:30 pm

CAT

HON

LMT

RTX

Industrial stocks are being viewed as a potential recession sign, with the theory that struggling construction companies like Caterpillar Inc and Honeywell Inc could indicate a weak economy. However, Jessica Rabe, co-founder of Datatrek, argues that weakness in industrial stocks has not been a reliable recession indicator in the past. She also points out that much of the industrial sector's weakness comes from the top-10 holdings in the S&P Industrials Sector ETF, which are down more than 2% on average YTD. Lockheed Martin and RTX Corp, both top-10 holdings in the industrial sector ETF, are expected to see a significant regression in earnings in 2024 compared to 2023.

Portfolio Pulse from Aaron Bry

September 26, 2023 | 8:25 pm