Streetbeat News

Analyst Ratings

EQT

Stephens analyst Mike Scialla has reiterated an Equal-Weight rating on EQT Corporation with a $36 price target. The analyst has lowered the 2Q CFPS estimate by 44% to $0.79, primarily due to lower projected unhedged realized natural gas and NGL prices. The 2Q23 EBITDA estimate has been updated to $359 million, 7% below Street consensus. No share repurchases are expected during the quarter due to forecasted outspending of $164 million. The Tug Hill acquisition is expected to close near mid-year 2023, pending final SEC approval.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 6:39 pm

SMG

Stifel analyst W. Andrew Carter has downgraded The Scotts Miracle-Gro Company (NYSE:SMG) to Hold from Buy, reducing the price target from $78 to $72. The downgrade is due to concerns about the company's consumer business and the absence of a planned June update. The analyst expects a high-single-digits decline in operating profit and a 100 basis points Y/Y decline in gross margin. However, significant earnings recovery is expected in FY25, growing 62% vs FY23.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 6:36 pm

CBAY

GNFT

GSK

ICPT

HC Wainwright has upgraded Intercept Pharmaceuticals Inc (NASDAQ:ICPT) to Buy from Sell, with a price target of $19, up from $8. The upgrade comes after strong interim Phase 2 data from its Ocaliva + bezafibrate combination. The analyst also notes that Intercept may continue to grow and significantly expand the PBC market along with CymaBay Therapeutics Inc's (NASDAQ:CBAY), GSK Plc's (NYSE:GSK), and, to a lesser extent, Ipsen/GENFIT.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 6:36 pm

URI

A whale investor has taken a bearish stance on United Rentals (NYSE:URI), with 90% of the spotted trades being bearish. The whale has been targeting a price range from $370.0 to $500.0 for United Rentals over the last 3 months. The price of URI is currently down -1.07% at $462.18. UBS and Keybanc have maintained their Buy and Overweight ratings on United Rentals respectively, while Morgan Stanley has downgraded its action to Equal-Weight.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 6:34 pm

TMO

Credit Suisse has upgraded Thermo Fisher Scientific Inc (NYSE:TMO) to Outperform from Neutral, with a price target of $620. The analyst cites the company's strong position to navigate post-pandemic demand correction, diversified portfolio, and growth prospects in services businesses. Despite potential downward revision of guidance, the analyst believes Thermo Fisher's long-term growth opportunities remain intact.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 6:33 pm

IMAX

Imax Corp (NYSE:IMAX) plans to acquire 96.3 million shares in its Hong Kong-listed subsidiary, IMAX China, for around $124 million. The deal is expected to unlock annual public company cost savings of around $2 million and tax efficiencies. Analysts from Benchmark, Wedbush, and Rosenblatt maintain positive outlooks for IMAX, with price targets of $23, $26, and $27 respectively. IMAX expects significant growth in FY23, and analysts believe the company is well-positioned to benefit from the theatrical rebound in 2023.

Portfolio Pulse from Anusuya Lahiri

July 13, 2023 | 6:29 pm

SBAC

BMO Capital Markets analyst Ari Klein initiated coverage of SBA Communications Corp (NASDAQ:SBAC) with a Market Perform rating and a price target of $260. Klein is bullish on SBAC's position as a pure-play tower REIT and expects the company to see a sector-leading dividend CAGR of 18% from 2022-2025. However, he also notes that SBAC has the highest leverage among its peers and expresses concern about its a-la-carte leasing approach.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 6:27 pm

CSCO

A large investor has taken a bearish stance on Cisco Systems (NASDAQ:CSCO), with 18 uncommon options trades spotted for the company. The sentiment of these big-money traders is split between 44% bullish and 55% bearish. The whales have been targeting a price range from $47.5 to $65.0 for Cisco Systems over the last 3 months. B of A Securities and Citigroup have both downgraded their action to Neutral with price targets of $56 and $54 respectively.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 6:21 pm

BA

A significant number of investors have taken a bearish stance on Boeing (NYSE:BA), with 68% of detected trades showing bearish expectations. The whales have been targeting a price range from $120.0 to $300.0 for Boeing over the last 3 months. The current price of BA is $217.71, with RSI indicators suggesting a neutral position. Morgan Stanley and RBC Capital have both downgraded their action to Equal-Weight and Sector Perform respectively, with a price target of $220.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 6:21 pm

AZN

A large bearish position has been taken on AstraZeneca (NASDAQ:AZN), as observed from publicly available options history. The sentiment among these big-money traders is 18% bullish and 81% bearish. The whales have been targeting a price range from $30.0 to $70.0 for AstraZeneca over the last 3 months. The current price of AZN is up 1.68% at $67.59.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 6:21 pm