Streetbeat News

Analyst Ratings

INTU

Keybanc analyst Josh Beck maintains an Overweight rating on Intuit (NASDAQ:INTU) and raises the price target from $535 to $600.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 8:08 am

AAPL

Daniel Niles, founder and portfolio manager at Satori Fund, plans to short Apple Inc. (NASDAQ:AAPL) ahead of the iPhone 15 launch event on Sept. 12. Niles cites the threat from Chinese tech company Huawei's new Mate60 Pro and its 7nm processor node technology, as well as China's aggressive ban on foreign phones in government offices as reasons for his decision. Apple's stock is currently trading at a P/E multiple of 29 times the estimated earnings for 2023, which Niles considers high.

Portfolio Pulse from Shanthi Rexaline

September 07, 2023 | 7:17 am

GIII

G-III Apparel Group, Ltd. (NASDAQ:GIII) is expected to report a sharp decline in its Q2 2024 earnings, with analysts predicting earnings of 1 cent per share, down from 39 cents per share in the previous year. The company's revenue is also expected to decrease to $592.32 million from $605.24 million. G-III Apparel shares fell 0.5% to close at $19.30 on Wednesday. Several analysts have recently adjusted their price targets for the company.

Portfolio Pulse from Lisa Levin

September 07, 2023 | 6:01 am

F

TSLA

Tesla, Inc. (NASDAQ:TSLA) is nearing the commercial launch of its Cybertruck. Tesla investor and Future Fund Managing Partner Gary Black predicts three variants of the Cybertruck with prices ranging from $49,900 to $79,900. Black believes the Cybertruck will boost Tesla's volume growth, similar to the impact of the Model Y launch in 2020. He also mentioned that Ford Motor Co's (NYSE:F) F-150 Lightning lineup starts at $49,995, and its top-tier F-150 Lightning Platinum starts at $91,995.

Portfolio Pulse from Shanthi Rexaline

September 07, 2023 | 5:54 am

BTCUSD

DOGEUSD

ETHUSD

Bitcoin, Ethereum, and Dogecoin remained largely flat on Tuesday as the global cryptocurrency market cap rose slightly by 0.4% to $1.04 trillion. The Financial Accounting Standards Board (FASB) has unanimously decided to endorse regulations for the accounting of fair values associated with companies’ cryptocurrency holdings, effective from 2025. Meanwhile, the dollar index rose to 104.84, unnerving investors. Cryptocurrency trader Michaël van de Poppe advised investors to 'just survive this month' and predicted a positive outlook for Bitcoin and Ethereum.

Portfolio Pulse from Shivdeep Dhaliwal

September 07, 2023 | 2:51 am

BMY

PFE

Shares of Pfizer Inc. (PFE) are trading near their 52-week low due to concerns over President Joe Biden’s Inflation Reduction Act, which allows Medicare to negotiate the price of some prescription drugs. However, Cantor Fitzgerald analyst Louise Chen believes the impact of the act on Pfizer's drugs will not be significant in the short term. She reiterated an Overweight rating on Pfizer with a $75 price target, indicating a potential 117.99% upside for the stock. Bristol-Myers Squibb Co (BMY) is also mentioned as they co-sell a drug with Pfizer that is on the negotiation list.

Portfolio Pulse from AJ Fabino

September 06, 2023 | 10:37 pm

SOFI

Bank of America Securities analyst Mihir Bhatia has noted an uptrend in student loan repayments, which could benefit companies like SoFi Technologies Inc. The analyst observed that Department of Education deposits for August were the highest since March 2020. Bhatia suggests that borrowers might be trying to get ahead or are refinancing their student loans. SoFi, which held 40% of the market share in private student loan refinancing pre-pandemic and now boasts a 60% dominance, could see a boost from this trend. SoFi's loan originations for Q3 soared to $1.1 billion, up from $395 million in the previous quarter.

Portfolio Pulse from AJ Fabino

September 06, 2023 | 9:37 pm

DSGX

Descartes Systems reported Q2 earnings of $0.32 per share, missing the analyst consensus estimate of $0.33 by 3.03%. However, the company's quarterly sales of $143.40 million beat the estimate of $140.04 million by 2.40%. Compared to the same period last year, earnings increased by 18.52% and sales by 16.57%.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 9:01 pm

PAGP

Over the past 3 months, 4 analysts have published their opinion on Plains GP Holdings (NASDAQ:PAGP) stock. The company has an average price target of $17.62 with a high of $19.00 and a low of $15.50. This average price target has increased by 8.43% over the past month.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 9:00 pm

TCOM

Analysts have provided bullish ratings for Trip.com Group (NASDAQ:TCOM) within the last quarter, with an average price target of $51.78, implying an upside from the current price of $37.89. The average price target has increased by 14.56% over the past month.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 9:00 pm