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Analyst Ratings

AVGO

VMW

BMO Capital Markets analyst Keith Bachman reiterated a Market Perform rating on Vmware, Inc. (VMW), raising the price target to $160 from $140. VMW reported a Q2 FY24 revenue increase of 2% Y/Y to $3.41 billion, missing the consensus of $3.46 billion. The analyst believes Broadcom Inc.'s (AVGO) acquisition makes sense for VMW shareholders. VMW shares are trading lower by 2.84% to $163.98.

Portfolio Pulse from Nabaparna Bhattacharya

September 01, 2023 | 6:35 pm

VEEV

Veeva Systems' shares are trading higher following a Q2 earnings beat and guidance above estimates. Several analysts have raised their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 6:34 pm

XP

UBS has maintained a Buy rating on XP shares and increased its price target from $28 to $33, leading to a rise in XP's stock price.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 6:33 pm

DG

Raymond James analyst Bobby Griffin has downgraded Dollar General Corp (NYSE:DG) from Strong Buy to Outperform and lowered the price target from $200 to $160. The downgrade reflects a lower near-term earnings outlook due to margin pressure and consumer weakness. Dollar General reported Q2 FY23 sales growth of 3.9% to $9.80 billion, missing the analyst consensus. The company also lowered its FY23 EPS outlook to $7.10 - $8.30 and sales growth to 1.3% - 3.3%. Despite the downgrade, the analyst believes that Dollar General is not a permanently broken business.

Portfolio Pulse from Shivani Kumaresan

September 01, 2023 | 6:24 pm

SIG

Telsey Advisory Group analyst Dana Telsey has reiterated the Market Perform rating on Signet Jewelers Limited (NYSE:SIG), raising the price target to $82 from $71. Telsey expects engagement sales to start recovering towards the end of FY24. Despite a Q2 sales decline of 8.1% YoY, SIG beat the analyst consensus with $1.61 billion. The company continues to see FY24 sales of $7.10 billion - $7.30 billion. However, Telsey sees a more conservative back half outlook due to macro challenges and a volatile consumer spending environment.

Portfolio Pulse from Nabaparna Bhattacharya

September 01, 2023 | 6:23 pm

TEAM

A significant bearish stance has been taken on Atlassian (NASDAQ:TEAM) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is 20% bullish and 80% bearish. The whales have been targeting a price range from $115.0 to $290.0 for Atlassian over the last 3 months. The current price of TEAM is $204.27, up 0.1%. Several financial institutions have maintained their ratings on Atlassian, with price targets ranging from $185 to $240.

Portfolio Pulse from Benzinga Insights

September 01, 2023 | 6:18 pm

PZZA

Wedbush analyst Nick Setyan has upgraded Papa John's International Inc (NASDAQ:PZZA) to Outperform from Neutral, raising the price target from $80 to $95. Despite a Q2 FY23 revenue decline of 1.6% Y/Y to $514.53 million, Setyan believes in the company's strategies of menu innovation, effective revenue management, and promotional activity. He expects improved near- to medium-term same-store sales growth, potential for margin expansion, and annualized system sales growth in the medium- to longer-term.

Portfolio Pulse from Lekha Gupta

September 01, 2023 | 6:13 pm

RH

Morgan Stanley analyst Simeon Gutman reiterated an Equal-Weight rating on RH (NYSE:RH) and raised the price target from $260 to $355. The stock has rallied about 40% since Q1'23 earnings due to expectations for a top-line beat in Q2'23 and a pickup in share repurchases. However, the analyst warned that an upside on Q2 sales may reflect a low bar, rather than underlying trends improving. The analyst views RH as among the most intriguing stories in retail, with potential to transform its sales base/margin structure more than any other company in their coverage.

Portfolio Pulse from Shivani Kumaresan

September 01, 2023 | 6:12 pm

AMC

Credit Suisse analyst Meghan Durkin maintains an 'Underperform' rating on AMC Enter Hldgs (NYSE:AMC) and lowers the price target from $8.38 to $8.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 6:09 pm

AVGO

Piper Sandler analyst Harsh Kumar maintains an Overweight rating on Broadcom (NASDAQ:AVGO) and raises the price target from $925 to $975.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 6:02 pm