Streetbeat News

Analyst Ratings

PEP

A whale investor has taken a bullish stance on PepsiCo (NASDAQ:PEP), with 66% of investors opening trades with bullish expectations. The whale has been targeting a price range from $110.0 to $175.0 for PepsiCo over the last 3 months. The price of PEP is currently down -0.33% at $177.59, and RSI indicators suggest the stock may be oversold. Next earnings are expected to be released in 51 days.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 7:15 pm

UNP

A significant bearish stance has been taken on Union Pacific (NYSE:UNP) with 91% of investors opening trades with bearish expectations. Of the total trades, 10 are puts amounting to $466,755 and 2 are calls amounting to $109,680. Whales have been targeting a price range from $215.0 to $230.0 for Union Pacific over the last 3 months. The current price of UNP is down -0.63% at $223.84. Analysts from Morgan Stanley, Stephens & Co., Raymond James, and RBC Capital have maintained their ratings on Union Pacific with price targets ranging from $182 to $282.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 7:15 pm

DG

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Dollar General Corporation (NYSE:DG) with a price target of $185. Dollar General is expected to report 2Q23 earnings on August 31. The company is expected to benefit from strength in consumables and value-priced merchandise, but this could be offset by reduced SNAP benefits, weakness in discretionary categories, and elevated operating costs. Feldman forecasts 2Q23 EPS of $2.54 vs. the FactSet consensus of $2.49.

Portfolio Pulse from Nabaparna Bhattacharya

August 21, 2023 | 7:13 pm

RIVN

TSLA

Tesla, Inc. (TSLA) shares are trading higher after Baird Equity Research added Tesla to its 'best ideas' list. The research firm cited the launch of the Cybertruck EV, growing adoption of Full Self-Driving software, and expansion into new markets as catalysts. Tesla's recent price cuts were seen as a move to increase market share and demand. Meanwhile, sentiment for Rivian Automotive, Inc. (RIVN) is improving as the company works to reduce costs.

Portfolio Pulse from Erica Kollmann

August 21, 2023 | 7:11 pm

AYRWF

TRSSF

Q2 2023 earnings releases for cannabis companies have shown that many beat their EBITDA estimates, but full-year projections tell a different story. Analysts had lowered EBITDA estimates, making it easier for companies to beat the consensus. However, six of the fourteen largest MSOs, including the five largest, have lower expected 2023 EBITDA than actual 2022 EBITDA. The group, in aggregate, is projected to be down 3.2% for 2023. Aggressive inventory management is likely to restrain the 2nd half EBITDA snapback. TerrAscend (OTC:TRSSF) and AYR’s (OTC:AYRWF) are mentioned as potential exceptions.

Portfolio Pulse from Viridian Capital Advisors

August 21, 2023 | 7:10 pm

REGN

RHHBY

The FDA has approved Regeneron Pharmaceuticals' Eylea HD Injection 8 mg for wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. This approval is seen as a shield against potential biosimilar competition. Truist Securities and BMO Capital remain bullish on Regeneron due to this approval. However, Regeneron is still involved in a lawsuit with Viatris regarding the potential introduction of their Eylea biosimilar. RBC Capital Markets has increased the price target for Regeneron from $820 to $830.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 7:04 pm

VZ

Unusual options activity has been observed for Verizon Communications (NYSE:VZ), with a bearish stance taken by a large investor. Benzinga's options scanner spotted 10 uncommon options trades for Verizon, with 40% bullish and 60% bearish sentiment. The whales have been targeting a price range from $20.0 to $50.0 for Verizon over the last 3 months. Analysts from Goldman Sachs, Raymond James, Morgan Stanley, and Citigroup have maintained their ratings on Verizon, with price targets ranging from $36 to $44.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 7:00 pm

DXCM

In the last quarter, DexCom (NASDAQ:DXCM) received mostly bullish ratings from analysts, with an average price target of $146.22, indicating potential upside from the current price of $105.07. The average price target has increased by 4.63% over the past month.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 7:00 pm

NOW

A significant bearish stance has been taken on ServiceNow (NYSE:NOW) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 75% bearish and 25% bullish. The targeted price range for ServiceNow over the last 3 months has been $530.0 to $650.0. The current price of NOW is up 2.3% at $553.96. Analysts from Needham, Stifel, RBC Capital, and Jefferies have maintained their Buy or Outperform ratings with price targets ranging from $640 to $665.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 7:00 pm

MTZ

In the last quarter, MasTec (NYSE:MTZ) received mostly bullish ratings from analysts, with an average price target of $121.75, indicating potential upside from the current price of $94.64. The average price target has decreased by 0.56% from the previous target of $122.43.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 7:00 pm