Streetbeat News

Analyst Ratings

GLOB

Piper Sandler analyst Arvind Ramnani maintains an Overweight rating on Globant (NYSE:GLOB) and raises the price target from $207 to $209.

Portfolio Pulse from richadhand@benzinga.com

August 18, 2023 | 8:24 am

WMT

Telsey Advisory Group analyst Joseph Feldman has maintained an 'Outperform' rating on Walmart (NYSE:WMT) and raised the price target from $168 to $185.

Portfolio Pulse from richadhand@benzinga.com

August 18, 2023 | 8:21 am

SELB

Needham analyst Gil Blum maintains a Buy rating on Selecta Biosciences (NASDAQ:SELB) but lowers the price target from $5 to $4.

Portfolio Pulse from richadhand@benzinga.com

August 18, 2023 | 8:19 am

IMAB

Needham analyst Gil Blum has reiterated a 'Buy' rating on I-MAB (NASDAQ:IMAB) and maintained a price target of $24.

Portfolio Pulse from richadhand@benzinga.com

August 18, 2023 | 8:17 am

WMT

Keybanc analyst Bradley Thomas maintains an Overweight rating on Walmart (NYSE:WMT) and raises the price target from $175 to $177.

Portfolio Pulse from richadhand@benzinga.com

August 18, 2023 | 8:15 am

GOOG

GOOGL

META

A study by Arthur AI has evaluated the misinformation spread by AI models from companies like Meta Platforms Inc., OpenAI, Anthropic, and Cohere AI. The study found that OpenAI's GPT-4 model hallucinated significantly less than its predecessor, GPT-3.5, and Meta's Llama 2 model. Cohere AI disputed the results, asserting the effectiveness of their retrieval automated generation technology for providing verifiable citations.

Portfolio Pulse from Ananya Gairola

August 18, 2023 | 7:59 am

AAPL

AMZN

GOOGL

MSFT

QQQ

TSLA

Tesla's stock has fallen about 25% since its Q2 results on July 19, underperforming against mega-cap tech peers. Future Fund's Gary Black attributes this to CEO Elon Musk's comments on imminent vehicle price cuts. Tesla's average selling price has declined 20% YoY globally, and the 2023 EPS has fallen 36% YTD and 41% YoY. However, Black remains optimistic due to increasing global EV adoption and Tesla's strong product and visionary CEO.

Portfolio Pulse from Shanthi Rexaline

August 18, 2023 | 6:37 am

TSLA

VWAGY

XPEV

Morgan Stanley analyst Adam Jonas has maintained an 'equal-weight' rating on Tesla with a price target of $250, following the company's recent price cuts in China. Jonas believes China will shift from being an auto importer to exporter due to supply-demand dynamics. He also noted that legacy automakers are collaborating with Chinese players, such as Volkswagen's collaboration with XPeng, but does not expect these partnerships to significantly impact the market. Tesla's shares closed down 2.8% at $219.22 on Thursday.

Portfolio Pulse from Anan Ashraf

August 18, 2023 | 4:47 am

PANW

Palo Alto Networks, Inc. (NASDAQ:PANW) shares traded lower on Thursday after Wedbush analyst Daniel Ives reiterated the company's rating and maintained its $290 price target. Ives highlighted the company's decision to hold an earnings conference call on a Friday, which has caused uneasiness among investors. He also expressed concern about the company's Q4 revenues and billings potentially missing Street expectations, which could impact full-year 2024 Billings and FCF guide.

Portfolio Pulse from Ryan Gustafson

August 18, 2023 | 4:41 am

BUD

Bud Light, a beer brand of Anheuser-Busch InBev (NYSE:BUD), is regaining popularity among American consumers, according to a Deutsche Bank survey. The brand faced a conservative backlash due to its partnership with transgender influencer Dylan Mulvaney, which led to a drop in sales and the brand losing its top spot as the best-selling beer in the US. However, Deutsche Bank believes the improvement in sentiment towards Bud Light is a trend and not just volatility. The bank reiterated a 'buy' target for Anheuser-Busch stock and expects it to rise 27% to around $71 a share.

Portfolio Pulse from Benzinga Neuro

August 18, 2023 | 4:28 am