Streetbeat News

Analyst Ratings

COST

A significant bearish stance has been taken on Costco Wholesale (NASDAQ:COST) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is split between 21% bullish and 78% bearish. The price of COST is currently down -0.3% at $559.79. Analysts from Telsey Advisory Group, Jefferies, UBS, and Oppenheimer have given price targets ranging from $575 to $640.

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 7:46 pm

SUI

JMP Securities analyst Aaron Hecht has reiterated the Market Outperform rating on Sun Communities, Inc. (SUI), but lowered the price target from $160 to $150. The analyst is concerned about SUI's overall guidance decline this quarter, primarily due to lower home sales in the UK amid deteriorating macroeconomic conditions. However, the Marina segment has shown resilience, with FY23 guidance increased by 60bps at the midpoint. SUI shares are currently trading lower by 1.27%.

Portfolio Pulse from Nabaparna Bhattacharya

August 15, 2023 | 7:39 pm

AFRM

PYPL

SQ

The upcoming student loan repayments may impact the 'buy now, pay later' (BNPL) sector, potentially causing a 2% setback. However, Mizuho analyst Dan Dolev remains optimistic, reiterating Buy ratings on Affirm Holdings, Inc (AFRM), Block, Inc (SQ), and PayPal Holdings, Inc (PYPL). A survey revealed that half of the active BNPL users are dealing with student loans, but those with loans reported an income surplus of $10,000 compared to their loan-free counterparts. The survey also found a positive correlation between the number of BNPL platforms a user is on and their income bracket.

Portfolio Pulse from Anusuya Lahiri

August 15, 2023 | 7:36 pm

DSGN

RBC Capital Market has downgraded Design Therapeutics Inc (NASDAQ:DSGN) from Outperform to Sector Perform with a price target of $7, down from $23. This follows the company's announcement of initial results from its Phase 1 clinical trial of DT-216 in patients with Friedrich ataxia and plans to reformulate the drug due to injection site reactions. RBC analysts see potential in the modified versions of DT-216 but are adopting a wait-and-see approach due to extended development timelines and inherent risks.

Portfolio Pulse from Vandana Singh

August 15, 2023 | 7:32 pm

DKS

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Dick's Sporting Goods Inc (NYSE:DKS) with a price target of $160. The company is expected to report 2Q23 earnings on Aug 22, 2023, with an EPS estimate of $3.69. Despite challenges from a worsened macroeconomic environment, the analyst expects Dick's to outperform the industry. The company is gaining share due to its unique assortment of brands, improved product allocation, private brands, and e-commerce.

Portfolio Pulse from Shivani Kumaresan

August 15, 2023 | 7:31 pm

RCM

Cantor Fitzgerald Research analyst Sarah James initiated coverage on R1 RCM Inc. with an Overweight rating and a price target of $20. The analyst is upbeat about R1's client base and sees potential for growth through cross-selling Cloudmed and R1. The company's target market of externally sourced RCM is expected to outpace the overall market growth. For FY23 and FY24, the analyst projects revenues of $2.266 billion and $2.712 billion respectively.

Portfolio Pulse from Nabaparna Bhattacharya

August 15, 2023 | 7:25 pm

HAL

Halliburton's (NYSE:HAL) short percent of float has risen 12.8% since its last report, with 25.90 million shares sold short, which is 3.26% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a stock. However, compared to its peers, Halliburton has less short interest as a percentage of float (5.68%).

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 7:15 pm

FAST

Fastenal's (NYSE:FAST) short percent of float has fallen 8.09% since its last report, with 14.21 million shares sold short, which is 2.84% of all regular shares available for trading. This decrease in short interest could signal a more bullish sentiment towards the stock. Compared to its peers, Fastenal has less short interest as a percentage of float, with an average of 4.94%.

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 7:15 pm

SHEL

Shell's (NYSE:SHEL) short percent of float has decreased by 44.44% since its last report, with 3.44 million shares sold short, representing 0.1% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards Shell. However, it does not necessarily mean that the stock will rise in the near term. Compared to its peers, Shell has less short interest as a percentage of float, with an average of 1.69% for its peer group.

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 7:15 pm

DBCCF

TLRY

Decibel Cannabis Co Inc. (OTCQB:DBCCF) and Tilray (NASDAQ:TLRY) are leading the pre-roll cannabis market in Canada, according to data from Hifyre. Decibel commands a 16% segment share, with pre-rolls driving 65% of its total sales in 2Q23. Tilray holds a 13.8% share, bolstered by its acquisition of HEXO. Decibel's infused pre-rolls have tripled its sales year-on-year for 2Q23, while Tilray's brands have experienced modest share erosion.

Portfolio Pulse from Nicolás Jose Rodriguez

August 15, 2023 | 7:13 pm