Streetbeat News

Analyst Ratings

NVDA

BofA Securities analyst Vivek Arya reiterated a Buy rating on Nvidia Corp (NASDAQ:NVDA) with a price target of $550. Arya expects Nvidia's 2Q sales to be inline/modestly ahead better than guide $11 billion (+64% YoY), including around $7.8 billion -8 billion in data center. He also expects 3Q sales to accelerate to up +100% YoY towards $12 billion - $12.5 billion. Arya estimates a gross margin of 70% with an upside if the data center mix increases. He also forecasts AI servers to grow at a 37% CAGR from 1.23 million in CY23 towards 4.4 million by CY27E, enabling Nvidia's total sales to expand at a 26% CAGR to $109 billion.

Portfolio Pulse from Anusuya Lahiri

August 07, 2023 | 6:50 pm

ACMR

ACM Research Inc (NASDAQ:ACMR) has been reiterated with a Buy rating by Benchmark and Needham analysts, with price targets of $32 and $18 respectively. The company posted strong 2Q23 results and maintained its sales guidance range of $515 million - $585 million for the year. The firm is expanding its customer base in the U.S. and Europe and is gaining market traction. It is also on track with international expansion and is acquiring land for a new R&D and production center to serve the Korean market better.

Portfolio Pulse from Anusuya Lahiri

August 07, 2023 | 6:43 pm

OPEN

Opendoor Technologies' shares are trading lower after Credit Suisse maintained an Outperform rating on the stock but lowered its price target from $8 to $7.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 6:39 pm

CNK

Barrington Research analyst James Goss has reiterated an 'Outperform' rating on Cinemark Hldgs (NYSE:CNK) and raised the price target from $20 to $22.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 6:35 pm

ANNX

Needham analyst Joseph Stringer has reiterated a 'Buy' rating on Annexon (NASDAQ:ANNX) and maintained a price target of $24.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 6:34 pm

STOK

Needham analyst Joseph Stringer has reiterated a 'Buy' rating on Stoke Therapeutics (NASDAQ:STOK) and maintained a price target of $25.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 6:33 pm

IRTC

Truist Securities analyst Richard Newitter has reiterated a Buy rating on IRhythm Technologies, Inc. (IRTC), but lowered the price target to $138 from $155. This follows IRTC's Q2 report, which showed better-than-expected opex and cost efficiencies. The company's Zio product received a high medical needs designation from the Japanese Ministry of Health and Welfare, potentially setting up the company for commercialization in Japan in 2025. Despite the positive news, IRTC shares are trading lower by 2.2% to $112.72.

Portfolio Pulse from Nabaparna Bhattacharya

August 07, 2023 | 6:32 pm

DTIL

HC Wainwright & Co. analyst Patrick Trucchio has reiterated a 'Buy' rating on Precision BioSciences (NASDAQ:DTIL).

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 6:32 pm

TVTX

HC Wainwright & Co. analyst Ed Arce has reiterated a 'Buy' rating on Travere Therapeutics (NASDAQ:TVTX), but lowered the price target from $35 to $32.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 6:30 pm

CDTX

HC Wainwright & Co. analyst Ed Arce has reiterated a 'Buy' rating on Cidara Therapeutics (NASDAQ:CDTX) and maintained a $6 price target.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 6:29 pm