Streetbeat News

Analyst Ratings

BBY

Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating on Best Buy Co., Inc. (NYSE:BBY) with a price target of $78. Feldman expects Best Buy's Q2 revenues to decline due to challenging macro trends. However, he believes the company will offset these challenges with solid execution and initiatives, including the new My Best Buy membership program. BBY shares are currently trading higher by 0.17% to $78.72.

Portfolio Pulse from Nabaparna Bhattacharya

August 21, 2023 | 6:40 pm

CHDN

JMP Securities analyst Jordan Bender reiterated a Market Outperform rating on Churchill Downs Inc (CHDN) with a price target of $155. The company's pending $250 million acquisition, Exacta Systems, announced the first-ever electronic historical horse racing (HHR) table games through a partnership with Interblock. The analyst believes CHDN HHR revenue will drive robust growth, increasing at an attractive 46% CAGR through 2025. The addition of HHR tables could generate an incremental $300 million revenue, 10% above the analyst’s current 2025 estimate.

Portfolio Pulse from Shivani Kumaresan

August 21, 2023 | 6:38 pm

EA

Electronic Arts's (NYSE:EA) short percent of float has fallen 5.78% since its last report, with 4.41 million shares sold short, which is 1.63% of all regular shares available for trading. This decrease in short interest could signal a more bullish market sentiment towards EA. Compared to its peers, EA has less short interest as a percentage of float, with an average of 2.84%.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 6:30 pm

CMG

Chipotle Mexican Grill's (NYSE:CMG) short percent of float has risen 4.53% since its last report, with 697 thousand shares sold short, which is 2.54% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. However, compared to its peers, Chipotle has less short interest with an average of 8.29% for its peer group.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 6:30 pm

STM

STMicroelectronics's (NYSE:STM) short percent of float has fallen 14.81% since its last report, indicating a more bullish sentiment towards the stock. The company has 4.13 million shares sold short, which is 0.46% of all regular shares available for trading. Compared to its peers, STMicroelectronics has less short interest.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 6:30 pm

NBIX

TEVA

The FDA has approved Neurocrine Biosciences' Ingrezza for the treatment of adults with chorea associated with Huntington's disease. The approval is supported by data from two clinical studies. Analysts from William Blair anticipate a gradual introduction of Ingrezza to the patient group, with 2024 marked as a major growth year. HC Wainwright raised the price target for Neurocrine Biosciences from $140 to $146.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 6:24 pm

AAPL

MSFT

The article discusses potential warning signs of a significant selloff for the QQQ, with mega cap technology names like Apple Inc. (AAPL) and Microsoft Corp. (MSFT) showing bearish divergences. The author suggests that the market trend is currently down, with the Nasdaq 100 ETF already breaking down through a similar trendline. However, the author also notes that the S&P 500 index is still above a trendline using closing prices from October 2022 and March 2023, indicating that the primary trend is still higher. The author concludes by suggesting that investors should consider all possible future paths for stocks and be prepared for various scenarios.

Portfolio Pulse from David Keller

August 21, 2023 | 6:22 pm

QSR

Roark Capital is reportedly close to acquiring Subway for $9.6 billion. Subway, the eighth-largest U.S. restaurant brand, has faced challenges in recent years but has ambitious global expansion plans. Meanwhile, JP Morgan initiated coverage on Restaurant Brands International (NYSE:QSR) with a price target of $84 and an Overweight rating, anticipating improved performance across existing and new stores.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 6:21 pm

NSSC

NAPCO Security Technologies (NSSC) shares are down after the company announced it would restate the prior three-quarters of FY23 due to cost-accounting errors. This restatement will lower the 9-month GAAP net income by $9.5 million, or around 36% from the previously reported financials. Needham analyst James Ricchiuti has reiterated a Buy rating on NSSC but lowered the price target to $30 from $39. The company expects Q4 revenues to be $44.7 million, about 7% below consensus and up 3% Y/Y.

Portfolio Pulse from Nabaparna Bhattacharya

August 21, 2023 | 6:16 pm

MO

Altria Group's (NYSE:MO) short percent of float has fallen 10.23% since its last report, with 14.01 million shares sold short, which is 0.79% of all regular shares available for trading. This decrease in short interest could signal a more bullish sentiment towards the stock. Altria Group's peer group average for short interest as a percentage of float is 2.88%, indicating the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

August 21, 2023 | 6:15 pm