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Analyst Ratings

MU

PSTG

STX

WDC

Credit Suisse analyst Shannon Cross has forecasted weak 4Q23 results for Seagate Technology Holdings PLC (STX) and Western Digital Corp (WDC) due to ongoing weakness in the storage market. She reduced Seagate's target price to $52 from $54 and maintained Western Digital's target price at $41. She also reduced her 4Q23 revenue and EPS estimates for both companies. The analyst cited geopolitical tensions between the U.S. and China as a critical risk factor for both companies. STX and WDC shares traded lower.

Portfolio Pulse from Anusuya Lahiri

July 25, 2023 | 6:37 pm

TFII

YELL

BMO Capital Markets analyst Fadi Chamoun has reiterated the Market Perform rating on TFI International Inc. (TFII), raising the price target to $125 from $105. This is due to the potential restructuring of Yellow Corporation (YELL), which could result in lower industry capacity and freight diversion to other LTL networks. TFII is expected to benefit from this disruption, with potential valuation up to $150 in a YELL bankruptcy scenario. However, TFII's FY23 revenues are expected to fall 13.2% to $7.65 billion, with adjusted EPS slumping 17.6% to $6.61.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2023 | 6:33 pm

SPGI

S&P Global's (NYSE:SPGI) short percent of float has fallen 15.2% since its last report, with 3.39 million shares sold short, which is 1.06% of all regular shares available for trading. This decrease in short interest could signal a more bullish market sentiment towards the stock. Compared to its peers, S&P Global has less short interest as a percentage of float, with an average of 4.36%.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 6:30 pm

USB

U.S. Bancorp's (NYSE:USB) short percent of float has risen 7.35% since its last report, with 40.30 million shares sold short, which is 2.63% of all regular shares available for trading. This increase in short interest can signal that investors have become more bearish. U.S. Bancorp's peer group average for short interest as a percentage of float is 0.87%, indicating the company has more short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 6:30 pm

ROP

Roper Techs's (NYSE:ROP) short percent of float has risen 7.04% since its last report, with 804 thousand shares sold short, which is 0.76% of all regular shares available for trading. This increase in short interest can signal that investors have become more bearish. However, Roper Techs's peer group average for short interest as a percentage of float is 3.42%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 6:30 pm

BATS

BUD

IMBBY

MO

TAP

Zuanic & Associates' cannabis equity research report predicts four key developments in the sector for the next 18 months. The SAFE Banking bill is expected to pass in 2024, potentially leading to federal legalization of cannabis. The TSX is likely to see a wave of listings from multi-state operators, impacting Canadian MJ asset prices. Increased involvement of Consumer Packaged Goods companies in the sector is expected, with British American Tobacco, Imperial Brands, Molson Coors, Anheuser-Busch InBev, and Altria mentioned.

Portfolio Pulse from Nicolás Jose Rodriguez

July 25, 2023 | 6:22 pm

SOFI

Stephens & Co. analyst Vincent Caintic initiated coverage on SoFi Technologies Inc with an Equal-Weight rating and a price target of $7. The analyst is bullish on SoFi's growth prospects and sees the high expense ratio as a key driver of profitability. However, he is scrutinizing if SoFi's push to profitability will slow the growth. Caintic guides 2025 EPS of $0.35, 29% above consensus, on a higher Net Interest Income of $2.17 billion.

Portfolio Pulse from Lekha Gupta

July 25, 2023 | 6:11 pm

AAPL

Goldman Sachs analysts predict Apple Inc (AAPL) will surpass the $1.19 consensus earnings per share (EPS) forecast with an EPS of $1.21 in its Q3 earnings report on Aug. 3, driven by strong performance in Mac and Services. The bank's Mac revenue forecast of $9.4 billion is significantly higher than FactSet's consensus of $6.3 billion. Services revenue is expected to reach $21.8 billion, an 11% YoY growth. Despite concerns around valuation and downside risks, Goldman Sachs maintains a positive outlook on Apple, citing the growing iPhone installed base as a key factor for increasing monetization per user.

Portfolio Pulse from AJ Fabino

July 25, 2023 | 6:09 pm

WSO

Mizuho Securities analyst Brett Linzey initiated coverage on Watsco Inc (NYSE:WSO) with a Neutral rating and a price target of $360. Linzey believes WSO has a strong market position, including a large residential replacement market and a strong foothold in the Sunbelt region. He expects the company to continue gaining market share and invest in e-commerce and technology enhancement. However, he is cautious about potential adverse changes in weather, weak consumer confidence, and residential replacement cycling off-peak. Linzey expects revenues and adjusted EPS of $7.52 billion and $14.50 for 2023 and $7.85 billion and $15.00 for 2024, respectively.

Portfolio Pulse from Lekha Gupta

July 25, 2023 | 6:08 pm

MOD

Over the past three months, four analysts have published their opinion on Modine Manufacturing (NYSE:MOD) stock. The company has received three bullish ratings and one somewhat bullish rating. The average 12-month price target for Modine Manufacturing is $39.25, an increase of 10.04% from the previous average price target of $35.67.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 6:01 pm