Streetbeat News

Analyst Ratings

TSM

A significant bullish stance has been taken on Taiwan Semiconductor (NYSE:TSM) as indicated by unusual options activity. The sentiment among these big-money traders is split between 68% bullish and 31% bearish. The whales have been targeting a price range from $50.0 to $120.0 for Taiwan Semiconductor over the last 3 months. Susquehanna has maintained their Positive rating on Taiwan Semiconductor, with a price target of $128.

Portfolio Pulse from Benzinga Insights

July 11, 2023 | 6:49 pm

AMAT

A whale investor has taken a bearish stance on Applied Materials (NASDAQ:AMAT), with 55% of the investors opening trades with bearish expectations. The whale has been targeting a price range from $92.5 to $150.0 for Applied Mat over the last 3 months. The price of AMAT is currently down -3.47% at $135.68. The next earnings are expected to be released in 37 days.

Portfolio Pulse from Benzinga Insights

July 11, 2023 | 6:49 pm

PEP

RBC Capital Markets analyst Nik Modi reiterates a Sector Perform rating on PepsiCo, Inc. (NASDAQ:PEP), with a price target of $178. The analyst expects a strong second quarter from PEP driven by Frito Lay momentum, solid results in PBNA, and international led by Latin America and emerging markets. Modi also sees an upside to PEP’s guidance for the year given the higher margin Frito driving momentum. The analyst raised 2Q revenue estimates to $21.518 billion from $21.488 billion. 2Q EPS is expected to be $1.95.

Portfolio Pulse from Nabaparna Bhattacharya

July 11, 2023 | 6:47 pm

ABNB

Needham analyst Bernie McTernan has reiterated a Buy rating on Airbnb, Inc. (NASDAQ:ABNB), raising the target price to $160 from $150. The analyst is optimistic about Airbnb's positioning to benefit from the reopening of the economy and pent-up demand for travel. Revenue estimates for 2Q and FY23 have been raised, and the company is expected to see organic bookings accelerate. ABNB shares are trading higher by 2.93% to $135.57.

Portfolio Pulse from Nabaparna Bhattacharya

July 11, 2023 | 6:45 pm

CVX

Mizuho Securities USA analyst Nitin Kumar reiterated a Neutral rating on Chevron Corporation (NYSE:CVX) and raised the price target from $202 to $205. The analyst expects well performance in the Permian to be the main focus for investors in 2Q23 earnings, following the underperformance of Delaware wells in 2022. The analyst also sees signs of well productivity improvements and expects total production of 2,954kboed, slightly above the guided -80kboed. However, the analyst forecasts a miss vs. consensus for EBITDA / FCF / EPS, lower by 12%, 15%, and 6%.

Portfolio Pulse from Shivani Kumaresan

July 11, 2023 | 6:43 pm

AEP

CFRA analyst Daniel Rich has upgraded American Electric Power (NASDAQ:AEP) from Hold to Buy and raised the price target from $98 to $99.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 6:18 pm

CRBU

Truist Securities has initiated coverage on Caribou Biosciences (NASDAQ:CRBU) with a Buy rating and a price target of $23.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 6:17 pm

MELI

A significant amount of unusual options activity has been detected for MercadoLibre (NASDAQ:MELI), with a bearish stance being taken by a majority of investors. Of the 53 strange trades detected, 41% were bullish and 58% were bearish. The price target range for MercadoLibre over the last 3 months has been between $820.0 to $1840.0. The current price of MELI is up 2.86% at $1118.21. B of A Securities has downgraded its action to Neutral with a price target of $1350.

Portfolio Pulse from Benzinga Insights

July 11, 2023 | 6:17 pm

CVX

Unusual options activity has been observed for Chevron (NYSE:CVX), with a bearish stance taken by a large investor. Benzinga's options scanner spotted 10 options trades for Chevron, with 70% bearish sentiment. The price range targeted by these investors for Chevron over the last 3 months is from $110.0 to $170.0. The price of CVX is currently up 1.53% at $157.62. Analysts from Mizuho, Piper Sandler, and Citigroup have maintained their Neutral and Overweight ratings on Chevron, with price targets of $205, $188, and $170 respectively.

Portfolio Pulse from Benzinga Insights

July 11, 2023 | 6:17 pm

BX

Blackstone Inc. (BX) shares are trading higher on Tuesday after Wells Fargo analyst Timothy O'Shea maintained an Overweight rating and raised the price target from $101 to $104. Blackstone is set to report second-quarter earnings in nine days with estimated earnings per share of 93 cents and revenue of $2.42 billion. BX stock experienced above-average trading volume of 4.63 million shares on Tuesday.

Portfolio Pulse from Ryan Gustafson

July 11, 2023 | 6:16 pm