Streetbeat News

Analyst Ratings

F

GM

TSLA

General Motors announced plans to integrate the North American Charging Standard connector on future electric vehicles produced in 2025, expanding access to Tesla's Supercharger network. Analyst Alex Potter projects that Tesla's deals with GM and Ford could be worth $3 billion by 2030, making Tesla's charging model the standard in North America.

Portfolio Pulse from Chris Katje

June 09, 2023 | 6:58 pm

ANGO

MMSI

Needham analyst Mike Matson reiterated a Buy rating on Merit Medical Systems (MMSI) and raised the price target to $96 from $90 after the company acquired Dialysis and Biopsy products from AngioDynamics (ANGO) for $100 million. Matson expects revenue growth to return to mid-single digits or better and EPS growth to return to 15%+ for MMSI.

Portfolio Pulse from Nabaparna Bhattacharya

June 09, 2023 | 6:51 pm

RXO

Susquehanna Financial Group analyst Bascome Majors initiated coverage on RXO Inc (NYSE:RXO) with a Neutral rating and a $20 price target. Majors praised RXO's growth during the pandemic, robust balance sheet, and healthy FCF conversion rate, which offers potential for share repurchases. The analyst expects RXO management to boost financials and investor credibility to sail through its first freight recession as a standalone company.

Portfolio Pulse from Lekha Gupta

June 09, 2023 | 6:48 pm

SHAK

Shake Shack has shown impressive margin progression in the last two quarters, driven by better staffing and fewer margin dilutive third-party delivery orders. TD Cowen analyst Andrew Charles reiterated a Market Perform rating on Shake Shack with a price target of $75. The company reported strong Q1 earnings, with revenue of $253.28 million and an adjusted pro forma EPS loss of $(0.01).

Portfolio Pulse from Shivani Kumaresan

June 09, 2023 | 6:44 pm

DOCU

DocuSign reported positive 1Q FY24 results, beating subscription revenue estimates and showing improved execution. Analysts from Needham, JMP Securities, Wedbush, and Oppenheimer provided mixed ratings and price targets, with some appreciating the company's growth strategy and new leadership, while others remain cautious due to weak billings guidance and challenging demand environment.

Portfolio Pulse from Anusuya Lahiri

June 09, 2023 | 6:40 pm

ACI

KR

TGT

WMT

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Kroger Co (NYSE:KR) with a $55 price target, expecting solid 1Q23 earnings. Kroger's acquisition of Albertsons Companies, Inc. (NYSE:ACI) is expected to further solidify its leadership in the US grocery market.

Portfolio Pulse from Shivani Kumaresan

June 09, 2023 | 6:38 pm

PYPL

PayPal Holdings Inc (NASDAQ:PYPL) hosted a management meeting discussing monetization initiatives, network integration, and margin-enhancing initiatives. Analysts from Wedbush, Stephens & Co, and RBC Capital reiterated their price targets for the company.

Portfolio Pulse from Anusuya Lahiri

June 09, 2023 | 6:33 pm

EPAM

Susquehanna analyst James E Friedman reiterated a Positive rating on EPAM Systems (NYSE:EPAM) but lowered the price target to $300 from $350 due to reduced forecasts. EPAM recently slashed its 2Q23 and FY23 financial outlook due to weakness in near-term demand. However, the analyst believes the current slowdown is likely temporary.

Portfolio Pulse from Nabaparna Bhattacharya

June 09, 2023 | 6:33 pm

PL

Needham analyst Ryan Koontz reiterated a Buy rating on Planet Labs (NYSE:PL) with a price target of $8. The company posted solid 1Q24 results but reduced its F2Q and F24 outlook due to macro headwinds. Revenue was $52.7 million, driven by the Defense and Intelligence segment. PL is seen as the emerging leader in global earth observation.

Portfolio Pulse from Shivani Kumaresan

June 09, 2023 | 6:31 pm

ETSY

Etsy shares are trading higher after JMP Securities maintained a Market Outperform rating and a $130 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

June 09, 2023 | 6:28 pm