Streetbeat News

Analyst Ratings

TRIP

Wedbush analyst James Hardiman has initiated coverage on TripAdvisor (NASDAQ:TRIP) with a Neutral rating and a price target of $17.

Portfolio Pulse from richadhand@benzinga.com

August 22, 2023 | 8:07 am

GOOGL

Wedbush analyst Michael Pachter has initiated coverage on Alphabet (NASDAQ:GOOGL) with an Outperform rating and a price target of $160.

Portfolio Pulse from richadhand@benzinga.com

August 22, 2023 | 8:06 am

IRM

RBC Capital analyst Jonathan Atkin has upgraded Iron Mountain (NYSE:IRM) from Sector Perform to Outperform and raised the price target from $58 to $68.

Portfolio Pulse from richadhand@benzinga.com

August 22, 2023 | 8:02 am

RINF

TSLA

Economists, including Paul Krugman, are advocating for the Federal Reserve to increase its inflation target from 2% to 3%. They argue that a higher target could cushion the economy against severe recessions and boost investment. However, Krugman disagrees with Jason Furman's assertion that there is more work to do, suggesting that with current inflation measures around 3%, victory should be declared. Higher interest rates have been cited as a reason for slowing demand for products and services, with Tesla's CEO stating that they may force the company to lower prices, impacting profitability.

Portfolio Pulse from Shanthi Rexaline

August 22, 2023 | 7:02 am

MDT

Medtronic plc (NYSE:MDT) is set to report its Q1 FY2024 financial results on August 22, 2023. Analysts predict a quarterly earnings of $1.11 per share, up from $1.13 per share a year ago, and revenue of $7.57 billion, up from $7.37 billion. The company's shares closed at $81.61 on Monday. Recent price target changes by analysts include cuts and increases, with targets ranging from $90 to $104.

Portfolio Pulse from Lisa Levin

August 22, 2023 | 6:55 am

DKS

LOW

M

NVDA

PANW

The Nasdaq Composite ended a four-session losing streak, improving overall investor sentiment. Palo Alto Networks (PANW) shares gained 14.8% after announcing above-estimate EPS guidance. NVIDIA (NVDA) shares climbed 8.5% after KeyBanc and HSBC analysts raised their price targets. Investors are awaiting earnings results from Lowe's Companies (LOW), Dick's Sporting Goods (DKS), and Macy's (M).

Portfolio Pulse from Lisa Levin

August 22, 2023 | 6:39 am

DIS

Credit Suisse analyst Douglas Mitchelson maintained Walt Disney Co (NYSE:DIS) with an Outperform and lowered the price target from $126 to $122. He revised his EPS estimates for FY23 to $3.70, FY24 to $5.12, and FY25 to $6.14. Mitchelson highlighted substantial forecast uncertainty for Disney, including the timing and cost of launching the main ESPN channel and its content DTC, the pace of linear decline, and potential labor cost increases. Truist Securities analyst Matthew Thornton reiterated Walt Disney with a Buy and a $105 price target.

Portfolio Pulse from Anusuya Lahiri

August 21, 2023 | 10:46 pm

API

Agora (NASDAQ:API) reported Q2 adjusted losses of $(0.07) per share, beating the analyst consensus estimate of $(0.12) by 41.67%. However, the company's quarterly sales of $34.04 million missed the analyst consensus estimate of $38.93 million by 12.57%. This represents a 16.94% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 10:09 pm

LU

Lufax Holding (NYSE:LU) reported Q2 earnings of $0.06 per ADS, beating the analyst consensus estimate of $0.05 by 20%. However, this is a 66.67% decrease from the same period last year. The company's quarterly sales of $1.28 billion missed the analyst consensus estimate of $1.43 billion by 10.63%, marking a 44.00% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 10:07 pm

QFIN

Qifu Technology (NASDAQ:QFIN) reported Q2 adjusted earnings of $0.96 per ADS, beating the analyst consensus estimate of $0.95 by 1.05%. The company's quarterly sales were $539.80 million, surpassing the analyst consensus estimate of $443.32 million by 21.76%. However, this represents a 13.57% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 10:05 pm