Streetbeat News

Analyst Ratings

PFBC

Stephens analyst Andrew Terrell reiterated an Overweight rating on Preferred Bank (NASDAQ:PFBC), raising the price target to $68 from $64. PFBC's Q2 earnings beat estimates, and despite NIB outflows exceeding anticipations, Terrell remains optimistic. The analyst expects tepid loan growth in the near term due to the company's selectivity on new credits and a broader slowdown in borrower demand. The company's near-term capital focus is expected to remain on buybacks, with ~$100mm incorporated in estimates. Terrell raised 2023 and 2024 Op. EPS estimates to $10.57 and $9.74 respectively.

Portfolio Pulse from Nabaparna Bhattacharya

July 21, 2023 | 7:37 pm

ENVX

TD Cowen has downgraded Enovix's stock from Outperform to Market Perform, but increased its price target from $19 to $20. This has resulted in Enovix shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 7:35 pm

ARGX

A significant bullish stance has been taken on argenx (NASDAQ:ARGX) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 58% bullish and 41% bearish. The price of ARGX is up 2.58% at $548.77. Citigroup, Raymond James, and Morgan Stanley have maintained their positive ratings on argenx, while HC Wainwright & Co. and Evercore ISI Group have downgraded their actions.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 7:34 pm

VST

Morgan Stanley has maintained an Overweight rating on Vistra's stock and increased its price target from $32 to $33. This has led to a rise in Vistra's share prices.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 7:31 pm

HOMB

Stephens analyst Matt Olney reiterated an Overweight rating on Home BancShares, Inc. (HOMB) and raised the price target to $27 from $26. The 2Q23 results were in line with consensus forecasts, driven by solid core fees and lower LLP expenses. However, NII was soft due to loan balance contraction and deposit remix headwinds. The 2023 Op EPS was increased from $1.97 to $1.99, while the 2024 EPS forecast was lowered from $1.80 to $1.78. The company is expected to remain conservative with new originations and forecasts modest loan growth contraction in 2H23.

Portfolio Pulse from Nabaparna Bhattacharya

July 21, 2023 | 7:08 pm

GPC

Genuine Parts Co (GPC) reported mixed Q2 2023 results, with sales growth of 5.6% Y/Y to $5.92 billion, missing the consensus of $5.96 billion, and adjusted EPS of $2.44 (+10.9% Y/Y) beating the consensus of $2.34. Following the results, analysts from Truist Securities, Stephens & Co., Wedbush, and JP Morgan lowered their price targets for GPC, while raising EPS estimates for 2023 and 2024.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 7:05 pm

LOW

A significant amount of unusual options activity has been detected for Lowe's Companies (NYSE:LOW), with a majority of investors taking a bearish stance. The targeted price range for Lowe's over the last 3 months is from $220.0 to $260.0. The current price of LOW is up 1.62% at $234.74. Argus Research and Truist Securities maintain a 'Buy' rating on Lowe's, with price targets of $260 and $249 respectively, while Wedbush maintains a 'Neutral' rating with a price target of $230.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 7:04 pm

LFMD

Cantor Fitzgerald initiated coverage on LifeMD Inc (NASDAQ:LFMD) with an Overweight rating and a price target of $7, almost double the current price. The analyst sees LifeMD as an undervalued growth story in the virtual primary-care sector, expecting the company's topline to grow in the 20-30% CAGR range over the next 3-5 years. LifeMD's weight-management virtual clinic is seen as a key growth driver, with potential to tap into the $100-200B weight-loss medication market.

Portfolio Pulse from Vandana Singh

July 21, 2023 | 7:01 pm

GLOB

Globant (NYSE:GLOB) has received 7 bullish and no bearish ratings from analysts in the last quarter. The average 12-month price target for the company is $201.71, a decrease of 0.24% from the previous average of $202.20.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 7:01 pm

SO

Over the past 3 months, 8 analysts have published their opinion on Southern (NYSE:SO) stock. The company has an average price target of $69.62, an increase of 1.74% from the previous average price target of $68.43. The analysts' ratings are mixed, with 2 bullish, 2 indifferent, and 4 somewhat bearish.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 7:00 pm