Streetbeat News

Analyst Ratings

JPM

Shares of JPMorgan Chase & Co (NYSE:JPM) are trading lower by 2.4% after a Fitch analyst suggested the possibility of downgrades for multiple lenders. This could lead to higher borrowing costs for banks, constraining profitability and lending activities, and potentially reducing earnings potential.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 6:45 pm

BAC

WFC

Shares of Bank of America Corp (BAC) and Wells Fargo & Co (WFC) are trading lower after a Fitch analyst suggested potential downgrades for lenders, raising concerns about the financial health of the banking sector. The possibility of downgrades indicates increased credit risk for financial institutions, which could impact lenders' borrowing costs, profitability, and overall business operations.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 6:45 pm

TSX:BLX

BMO Capital Markets has revised its price target for Boralex from C$45 to C$43.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 6:43 pm

ACLX

The FDA has lifted the partial clinical hold on Arcellx Inc's iMMagine-1 Phase 2 Clinical Program. Analysts from Needham and William Blair remain optimistic about the long-term therapeutic potential of Arcellx's CART-ddBCMA, despite a delay in the timeline for interim data and regulatory submissions. ACLX shares were up 5.8% at $35.65 on the last check Tuesday.

Portfolio Pulse from Vandana Singh

August 15, 2023 | 6:42 pm

HD

LOW

Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating on Home Depot Inc (HD) with a $315 price target. Despite a decline in 2Q23 EPS and a tough consumer spending environment, Home Depot's sales exceeded estimates. The analyst also noted that Home Depot's better-than-expected sales could bode well for Lowe's Companies Inc (LOW). HD shares are currently trading higher by 0.55% at $331.7.

Portfolio Pulse from Shivani Kumaresan

August 15, 2023 | 6:26 pm

DCTH

Delcath Systems Inc's stock soared by 90% following the FDA's approval of its HEPZATO KIT for liver-directed treatment in certain adult patients. The approval triggers the second tranche of financing tied to a previously announced PIPE financing, potentially bringing in $34.9 million in additional funding. Further, if the company records at least $10 million in quarterly U.S. revenue from the commercialization of HEPZATO KIT, it could receive up to an additional $24.9 million in funding.

Portfolio Pulse from Vandana Singh

August 15, 2023 | 6:25 pm

HXL

RBC Capital Markets analyst Ken Herbert has upgraded Hexcel Corp (HXL) to Outperform from Sector Perform and increased the price target to $85 from $75. Herbert expects aerospace growth to accelerate in 2024-2025 and sees HXL as well positioned to deliver better-than-expected margins and FCF upside. He estimates 2025 FCF to be $320 million, ahead of consensus, and expects operating margins to hit 17% in 2025 with sales of $2.3 billion. The analyst also raised the adjusted EPS estimate for FY24 and FY25.

Portfolio Pulse from Lekha Gupta

August 15, 2023 | 6:22 pm

ADC

BBY

DG

KR

WMT

Three insiders at Agree Realty Corp. (NYSE:ADC) have recently bought large amounts of company stock, indicating their belief that the stock is undervalued. The purchases were made after a price drop following the company's Q2 2023 earnings announcement. Agree Realty's Q2 revenue was 23.9% higher than the same period in 2022, but missed estimates. The company's year-to-date return is negative 8.79%. Analysts from Stifel and RBC Capital Markets have maintained a positive outlook on Agree Realty, adjusting their price targets slightly.

Portfolio Pulse from Ethan Roberts

August 15, 2023 | 6:20 pm

ODD

KeyBanc Capital Market analyst Scott Schoenhaus initiated coverage on ODDITY Tech Ltd (NASDAQ:ODD) with an Overweight rating and a price target of $60. The analyst sees ODD in the early stages of its growth story, with near-term tailwinds from its ongoing disruption of beauty and wellness end markets and longer-term growth opportunities from its differentiated technology. The company's shares are currently trading lower by 4.73% at $44.16.

Portfolio Pulse from Lekha Gupta

August 15, 2023 | 6:19 pm

CSSE

Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:CSSE) reported lower than expected Q2 revenue, leading to a 45.5% dip in share price. Following the announcement, analysts from Needham, Benchmark, Alliance Global Partners, and Craig-Hallum revised their price targets and ratings for the company.

Portfolio Pulse from Lisa Levin

August 15, 2023 | 6:18 pm