Streetbeat News

Analyst Ratings

WPM

RBC Capital Markets analyst Josh Wolfson downgraded Wheaton Precious Metals Corp (NYSE:WPM) to Sector Perform from Outperform with a decreased price target of $45. Wolfson is bearish on the approaching introduction of OECD's global minimum tax, which he expects to materially impact offshore mine streaming by large Canadian companies.

Portfolio Pulse from Lekha Gupta

May 23, 2023 | 7:02 pm

ANET

A large bearish position on Arista Networks (NYSE:ANET) has been spotted, with 57% of big-money traders showing bearish sentiment. Whales have been targeting a price range of $110 to $170 for ANET over the last 3 months.

Portfolio Pulse from Benzinga Insights

May 23, 2023 | 7:02 pm

SPOT

In the last quarter, Spotify Technology (NYSE:SPOT) received 8 bullish, 5 somewhat bullish, and 6 indifferent analyst ratings. The average 12-month price target for the company is $153.42, up 12.67% from the previous average of $136.17.

Portfolio Pulse from Benzinga Insights

May 23, 2023 | 7:01 pm

MIST

Over the past 3 months, 5 analysts have published their opinion on Milestone Pharmaceuticals (NASDAQ:MIST) stock, with 4 bullish and 1 somewhat bullish ratings. The average 12-month price target is $22.6, up 41.25% from the previous average of $16.

Portfolio Pulse from Benzinga Insights

May 23, 2023 | 7:00 pm

ICPT

Canaccord Genuity has lowered the price target for Intercept Pharmaceutical Inc (NASDAQ:ICPT) from $26 to $12 with a Hold rating, amid concerns over drug-induced liver injury (DILI) related to Ocaliva. The FDA has expressed concerns about the potential fatality of DILI. Needham also downgraded the stock from Buy to Hold.

Portfolio Pulse from Vandana Singh

May 23, 2023 | 6:53 pm

COIN

GBTC

Ark Invest CEO Cathie Wood predicts Bitcoin could reach $1 million by 2030, with the company's Big Ideas report forecasting a range of $258,500 to $1.48 million. Ark Invest has increased its holdings in ETFs like ARKW, ARKF, and ARKK, which have top holdings in Coinbase Global (NASDAQ:COIN) and Grayscale Bitcoin Trust (OTC:GBTC).

Portfolio Pulse from Chris Katje

May 23, 2023 | 6:50 pm

HIBB

Telsey Advisory Group analyst Cristina Fernández reiterated an Outperform rating on Hibbett, Inc. (NASDAQ:HIBB) but lowered the price target to $70 from $80. The analyst expects weakening demand for athletic footwear to hurt the company's 1Q earnings, but also notes that Hibbett faces less competition in many markets and has improved product allocations.

Portfolio Pulse from Nabaparna Bhattacharya

May 23, 2023 | 6:45 pm

RH

Telsey Advisory Group analyst Cristina Fernández reiterated a Market Perform rating on RH (NYSE:RH) with a price target of $225. The analyst expects weak Q1 results due to softened consumer discretionary spending in home furnishings and home improvement categories. RH is set to report 1Q earnings on May 25.

Portfolio Pulse from Nabaparna Bhattacharya

May 23, 2023 | 6:39 pm

BABA

Susquehanna analyst Shyam Patil maintains a Positive rating on Alibaba Group Holding Ltd (NYSE:BABA) but lowers the price target from $175 to $160. Alibaba faces pressure from macro and pandemic impacts, but cost discipline continues to pay off. The company's restructuring is seen as a potential long-term value driver.

Portfolio Pulse from Anusuya Lahiri

May 23, 2023 | 6:33 pm

MDT

A whale investor has taken a bearish stance on Medtronic (NYSE:MDT), with 72% of detected trades having bearish expectations. Whales have been targeting a price range of $83.0 to $97.5 for Medtronic over the last 3 months. Wells Fargo and Barclays have upgraded their ratings to Overweight with price targets of $100 and $104, respectively, while Truist Securities maintains a Hold rating with a $93 price target.

Portfolio Pulse from Benzinga Insights

May 23, 2023 | 6:31 pm