Streetbeat News

Analyst Ratings

BX

JP Morgan analyst Kenneth B. Worthington has downgraded Blackstone Inc (BX) from Overweight to Neutral, while raising the price target to $111 from $102. Despite the downgrade, Worthington believes Blackstone remains a top-tier alternative asset manager, leveraging secular trends for better growth. He expects organic growth supported by perpetual fund growth, currently weighed down by a depressed sentiment for real estate investing. Blackstone's 2Q23 Distributable Earnings were in line with Street consensus, and its assets under management rose 6% Y/Y to $1.0 trillion. However, fee earning AUM declined slightly in the quarter, the first decline since 2Q18.

Portfolio Pulse from Nabaparna Bhattacharya

July 21, 2023 | 5:49 pm

COF

Capital One Financial Corp (COF) reported Q2 2023 results, with revenue of $9.01 billion, missing the consensus estimate of $9.12 billion, and earnings of $3.52 per share, beating analyst estimates of $3.22. Following the results, several analysts including Morgan Stanley, Stephens & Co., Wells Fargo, Piper Sandler, and Citigroup adjusted their price targets for COF. COF shares are trading higher by 0.90% at $116.01.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 5:33 pm

JNJ

Johnson & Johnson (JNJ) has received positive feedback from analysts following a strong Q2 performance, particularly in its Medtech business. Credit Suisse analyst Trung Huynh has increased the price target for JNJ to $175 from $170, maintaining a Neutral rating. The company has also lifted its FY23 guidance due to strong Medtech sales growth. JNJ shareholders will soon have the opportunity to exchange their shares for Kenvue shares. Despite ongoing talc litigation, analysts remain optimistic about JNJ's future.

Portfolio Pulse from Vandana Singh

July 21, 2023 | 5:32 pm

SMCI

Northland Capital Markets analyst Nehal Chokshi maintains an Outperform rating on Super Micro Computer (NASDAQ:SMCI) and raises the price target from $300 to $345.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 5:27 pm

LLY

Jefferies analyst Akash Tewari maintains a 'Hold' rating on Eli Lilly (NYSE:LLY) and raises the price target from $408 to $430.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 5:24 pm

BX

Oppenheimer analyst Chris Kotowski maintains an Outperform rating on Blackstone (NYSE:BX) and raises the price target from $115 to $117.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 5:23 pm

TJX

A significant amount of unusual options activity has been detected for TJX Companies (NYSE:TJX), with a bearish stance being taken by a majority of investors. Of the 10 strange trades detected, 60% were bearish and 40% bullish. The total amount for the 2 puts was $74,242 and for the 8 calls was $375,604. Whales have been targeting a price range from $70.0 to $95.0 for TJX Companies over the last 3 months. Piper Sandler has downgraded its action to Overweight with a price target of $110, while Loop Capital has upgraded its action to Buy with a price target of $95.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 5:19 pm

EVGN

Roth MKM analyst Brian Wright maintains a 'Buy' rating on Evogene (NASDAQ:EVGN) and has raised the price target from $1 to $6.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 5:18 pm

ABT

Abbott Laboratories reported better-than-expected Q2 earnings with an organic sales growth of 11.5%. The company reaffirmed its FY23 adjusted EPS of $4.30 - $4.50. Analysts from William Blair and Citi have a positive outlook for the company, expecting strong performance in 2024. ABT shares are up 2.10% at $114.18.

Portfolio Pulse from Vandana Singh

July 21, 2023 | 5:18 pm

SAM

Evercore ISI Group analyst Eric Serotta maintains an In-Line rating on Boston Beer Co (NYSE:SAM) and lowers the price target from $330 to $320.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 5:16 pm