Streetbeat News

Analyst Ratings

AMZN

Amazon's stock is in focus ahead of its quarterly earnings. AWS has launched in Israel, with a planned investment of $7.2 billion through 2037, expected to support an average of 7,700 jobs annually. Citi analyst Ronald Josey reiterated a Buy rating on Amazon with a $145 target price, looking for in-line-to-better-than consensus revenue and operating income. AMZN shares traded lower by 1.31% at $131.89.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 10:04 am

UNH

A significant bearish stance has been taken on UnitedHealth Group (NYSE:UNH) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 40% bullish and 60% bearish. The price range targeted by these investors for UnitedHealth Group over the last 3 months is from $300.0 to $580.0. The current price of UNH is down -0.35% at $504.6. Several financial institutions have maintained or downgraded their ratings on UnitedHealth Group, with price targets ranging from $549 to $610.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:03 am

XOM

A whale investor has taken a bearish stance on Exxon Mobil (NYSE:XOM), with 62% of the investors opening trades with bearish expectations. The whale activity has been targeting a price range from $99.0 to $110.0 for Exxon Mobil over the last 3 months. The price of XOM is currently down -0.84% at $106.34. The next earnings are expected to be released in 87 days.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:03 am

LSCC

Benchmark analyst David Williams has reiterated a Buy rating on Lattice Semiconductor Corporation (NASDAQ:LSCC), raising the price target to $105 from $95. The company's Q2 results were better than expected, demonstrating the strength of the portfolio and resilience to macro volatility. The analyst expects revenue to begin inflecting in 2024 with the ramp of Avant E earlier this year, followed by two additional product families later this year. FY23 EPS estimate is raised to $2.08 from $2.05 and FY24 EPS is expected to be $2.41.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 10:02 am

MPWR

Monolithic Power Systems Inc (NASDAQ:MPWR) reported Q2 2023 results, surpassing expectations with revenues of $441.1 million and adjusted EPS of $2.82. The company expects Q3 revenues between $464.0 million and $484.0 million. Several analysts have responded by raising their price targets for MPWR, despite a slight decrease in the stock's price.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 10:02 am

VZ

A significant bearish stance has been taken on Verizon Communications (NYSE:VZ) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 41% bullish and 58% bearish. Over the last 3 months, the targeted price range for Verizon has been between $24.0 and $80.0. The price of VZ is currently down by 1.69% at $33.51. Analysts from Raymond James, Wells Fargo, Goldman Sachs, Citigroup, and Morgan Stanley have maintained their ratings on Verizon, with price targets ranging from $36 to $44.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:02 am

TGT

Oppenheimer analyst Rupesh Parikh has reiterated an Outperform rating on Target Corporation (TGT), but lowered the price target from $190 to $165. The company is expected to report its quarterly results on August 16, 2023, with net sales expected to be $24.91 billion and EPS of $1.15. Parikh has lowered the EPS projection for FY23 to $7.00, down from $7.90, due to ongoing challenges in discretionary categories and potential headwinds related to the student loan payment restart. Despite near-term pressures, Parikh remains bullish for long-term players, anticipating a multiyear margin recovery.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 10:01 am

TREX

Truist Securities analyst Keith Hughes has reiterated a Buy rating on Trex Company, Inc. (NYSE:TREX), raising the price target to $80 from $65. The company's Q2 earnings showed stronger-than-expected sales, indicating resilient consumer demand. Despite expecting a weaker 4Q23, the analyst believes that the company and the industry are headed towards growth in 2024. TREX shares are trading higher by 8.6% to $75.10.

Portfolio Pulse from Nabaparna Bhattacharya

August 04, 2023 | 10:01 am

BAC

A significant investor has taken a bearish stance on Bank of America (NYSE:BAC), with 61% of recent trades being bearish. The price target for BAC over the last 3 months has been between $25.0 and $40.0. The current price of BAC is down -1.5% at $31.52. Analysts from Morgan Stanley, BMO Capital, and Oppenheimer have maintained their ratings on BAC, with price targets of $34, $40, and $52 respectively.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:01 am

NEWR

TPG

New Relic Inc (NEWR) has been acquired by Francisco Partners and TPG Inc (TPG) in a deal valued at approximately $6.5 billion. Following the acquisition, several analysts have downgraded NEWR's rating from Outperform to Neutral and revised their price targets. NEWR shares are currently trading at $84.04, slightly higher by 0.07%.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 9:59 am