Streetbeat News

Analyst Ratings

LCID

Citigroup analyst Itay Michaeli has reinstated Lucid Group (NASDAQ:LCID) with a Neutral rating and announced a price target of $8.

Portfolio Pulse from richadhand@benzinga.com

July 03, 2023 | 8:26 am

CUBE

Raymond James analyst Jonathan Hughes has maintained an 'Outperform' rating on CubeSmart (NYSE:CUBE) but lowered the price target from $55 to $53.

Portfolio Pulse from richadhand@benzinga.com

July 03, 2023 | 8:24 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) reported record second-quarter deliveries, with year-over-year growth accelerating from 36% in Q1 to 83% in Q2. Analyst Gene Munster of Deepwater Asset Management highlighted that Tesla's price cuts are significantly effective. However, he does not expect a margin recovery in the June quarter, predicting the auto gross margin to align with March 2023's 19%. Tesla's stock ended Friday's session up 1.66% at $261.77.

Portfolio Pulse from Shanthi Rexaline

July 03, 2023 | 5:01 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) has reported record deliveries for Q2, with 466,140 cars delivered in June, a 45.5% YoY increase. This outperformance has been attributed to strong demand and production efficiencies, following price cuts implemented in 2023. Wedbush analyst Daniel Ives maintains an Outperform rating and a $300 price target for Tesla stock. Ives expects Tesla's margin to bottom out over the next one to two quarters and then ramp back up in FY 2024.

Portfolio Pulse from Shanthi Rexaline

July 02, 2023 | 6:45 pm

AAPL

ATVI

LLY

SOFI

TSLA

Barron's has highlighted several stocks in its weekend review, including Eli Lilly, Activision Blizzard, SoFi Technologies, Apple, and Tesla. Eli Lilly's promising obesity drug could boost the company's performance. Activision Blizzard's potential acquisition by Microsoft is causing uncertainty. The Supreme Court's decision against student-loan forgiveness had little impact on SoFi. Analysts believe Apple's gross margin expansion is underestimated. Tesla's stock performance is being analyzed based on historical trends.

Portfolio Pulse from Justin Chan

July 01, 2023 | 7:10 pm

AAPL

AXP

CRM

DIA

INTC

MCD

MSFT

The Dow Jones Industrial Average ETF (DIA) is up 3.9% in the first half of 2023, rebounding from an 8.5% decline in 2022. The top performing stocks in the index for the first half of 2023 include Salesforce (CRM), Apple (AAPL), Microsoft (MSFT), Intel (INTC), American Express (AXP), Visa (V), McDonald’s (MCD), and Boeing (BA). Analysts predict continued gains for Apple, and McDonald’s could be a stock to watch in the second half of 2023.

Portfolio Pulse from Chris Katje

July 01, 2023 | 4:18 pm

AAPL

COIN

DIS

LCID

NVDA

The major U.S. stock market indexes each gained over 2% this week, marking a positive end to the second quarter of 2023. Seth Klarman, CEO of Baupost Group, praised Coinbase Global Inc for its smart moves. Apple Inc. is poised for a significant growth renaissance over the next 12 to 18 months, according to Wedbush's Daniel Ives. The recent resurgence of Bitcoin has sparked a surge in meme coins like Pepe, Dogecoin, and Shiba Inu. However, Lucid Group, Inc. and Rivian Automotive, Inc. could face bankruptcy, according to Future Fund managing partner Gary Black. The U.S. government's potential export restrictions on AI chips to China could impact companies like Nvidia Corporation. Brandon Nispel of KeyBanc Capital Markets has downgraded Walt Disney Co. from Overweight to Sector Weight.

Portfolio Pulse from Michael Cohen

July 01, 2023 | 2:50 pm

NVDA

SPY

Jeremy Grantham, co-founder of Grantham Mayo Van Otterloo (GMO), continues to warn of an impending stock market crash despite the recent rally in tech stocks, including Nvidia Corp. (NVDA). He maintains that the wider market, including SPDR S&P 500 ETF Trust (SPY), is still poised for a fall. GMO is currently betting big on deep-value stocks and bonds backed by commercial real estate.

Portfolio Pulse from Benzinga Newsbot

July 01, 2023 | 11:15 am

BTCUSD

COIN

DOGEUSD

PEPEUSD

The past week saw several notable figures expressing their support for various cryptocurrencies. Seth Klarman, CEO of Baupost Group, praised Coinbase Global Inc for its smart moves and $5 billion cash reserve. A dormant Dogecoin wallet reawakened to massive gains, and former President Donald Trump’s NFT sales increased by 300%. YouTube personality MrBeast was linked to PEPE Coin, and Robert Kennedy Jr. reaffirmed his support for Bitcoin.

Portfolio Pulse from Benzinga Newsbot

July 01, 2023 | 11:11 am

TSLA

Ahead of Tesla's Q2 delivery report, CEO Elon Musk has warned shareholders to be cautious of margin loans and market volatility. Musk's advice comes as Tesla's stock has historically shown high variability. This week, ARK Invest Management sold nearly $7.3 million worth of Tesla stocks. An analyst at RBC Capital Markets expects lower-than-expected delivery results for Q2.

Portfolio Pulse from Ananya Gairola

July 01, 2023 | 2:03 am