Streetbeat News

Analyst Ratings

PFE

A significant bullish stance has been taken on Pfizer (NYSE:PFE) by a large investor, as observed in the publicly available options history. The overall sentiment of these big-money traders is split between 56% bullish and 43% bearish. The whales have been targeting a price range from $22.5 to $43.0 for Pfizer over the last 3 months. Currently, PFE's price is down -1.95% at $35.75. Cantor Fitzgerald and Credit Suisse have downgraded their actions on Pfizer with price targets of $75 and $40 respectively.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 7:17 pm

NBIX

VYGR

BMO Capital Markets has upgraded Neurocrine Biosciences Inc (NBIX) from Underperform to Market Perform, with a price target of $96, up from $91. The upgrade follows a survey of psychiatrists treating tardive dyskinesia, which increased BMO's confidence in the durability of Neurocrine's drug, Ingrezza. BMO also noted that Neurocrine's pipeline lacks strength and depth. Neurocrine and Voyager Therapeutics Inc (VYGR) formed a collaboration earlier this year to advance gene therapies for neurological diseases.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 7:12 pm

MMSI

Barrington Research analyst Michael Petusky has reiterated an Outperform rating on Merit Medical Systems, Inc. (MMSI) with a price target of $95. The company is expected to report 4%-6% revenue growth in 2Q 2023. Petusky expects Merit's peripheral intervention business to grow 9% Y/Y to $120.9 million, while the cardiac intervention is estimated to generate $92.3 million, up 3% Y/Y in 2Q. The analyst also expects Merit to continue affirming its multi-year growth plan foundations, generating at least $300 million in aggregate free cash flow in 2021, 2022, and 2023.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 7:06 pm

SPY

The latest American Association of Individual Investors (AAII) Sentiment Survey shows a bullish undercurrent sweeping across the market, with optimism levels hitting their peak for 2023. The survey shows 46.4% of investors predicting rising stock prices over the next six months, a 4.5% jump from the previous week. The AAII's optimistic five-week streak is the longest seen since a similar five-week run in late 2021. The bull-bear spread, indicating the degree of optimism, widened by 7.4% to reach 21.9%, above its historical average of 6.4%.

Portfolio Pulse from AJ Fabino

July 06, 2023 | 7:06 pm

MTG

RBC Capital Markets analyst Scott Heleniak has downgraded MGIC Investment Corp (NYSE:MTG) to Sector Perform from Outperform with a price target of $17. The analyst believes MTG shares have reached fair value and anticipates increasing challenges in the housing market. Despite this, the company has improved its capital efficiency and risk management, and is expected to deliver strong earnings and shareholder returns in H2 2023 and 2024.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 7:03 pm

INST

KeyBanc Capital Markets analyst Devin Au initiated coverage on Instructure Holdings, Inc. (NYSE:INST) with an Overweight rating and a price target of $32. The analyst sees growth opportunities in international and cross-sells, positioning Instructure as the leader in the education learning management system market. The company is expected to benefit from government funding passed during the pandemic to support education initiatives. The analyst expects FY23 revenues of $524.6 million, and FY24 revenues of $577.3 million.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 7:01 pm

CMG

A significant bearish stance has been taken on Chipotle Mexican Grill (NYSE:CMG) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 31% bullish and 68% bearish. The whales have been targeting a price range from $1250.0 to $2550.0 for CMG over the last 3 months. The current price of CMG is down -1.08% at $2097.72. Analysts have mixed opinions, with some maintaining their Outperform rating and others downgrading to Neutral or Outperform.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 7:01 pm

LULU

A significant bearish stance has been taken on Lululemon Athletica (NASDAQ:LULU) as indicated by unusual options activity. The sentiment among big-money traders is split between 42% bullish and 57% bearish. The options activity suggests a targeted price range from $300.0 to $460.0 for Lululemon Athletica over the last 3 months. Morgan Stanley has downgraded its action to Overweight with a price target of $424, while Piper Sandler maintains an Overweight rating with a price target of $450.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 7:01 pm

UNP

Union Pacific (NYSE:UNP) has received a mix of analyst ratings in the last quarter, with 3 bullish, 2 somewhat bullish, and 6 indifferent. The average 12-month price target for the company is $210.27, a decrease of 1.2% from the previous average of $212.82.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 7:01 pm

ILMN

Over the past 3 months, 5 analysts have published their opinion on Illumina (NASDAQ:ILMN) stock. The average price target for Illumina has increased by 7.64% from the previous average price target of $265.33 to $285.6. The majority of the ratings are bullish.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 7:01 pm