Streetbeat News

Analyst Ratings

JPM

JPMorgan Chase & Co. explored a scenario where Bitcoin could reach market capitalization parity with gold, suggesting a potential rise to $3.3 trillion, more than doubling its price. However, due to Bitcoin's high volatility, a more realistic market cap is projected at $0.9 trillion, indicating a price of $45,000 per unit, below its current price of $67,400. The report also forecasts the Bitcoin ETF market could reach $62 billion, with current inflows at $9 billion, suggesting a shift towards ETFs.

Portfolio Pulse from Murtuza Merchant

March 09, 2024 | 1:32 pm

RIVN

TSLA

Tesla investors Gary Black and Ross Gerber mocked CEO Elon Musk's comments on Rivian Automotive, showing optimism for Rivian's future despite Musk's bankruptcy predictions. Black predicts Rivian could achieve significant deliveries and EBITDA by 2030, with shares potentially worth $67 each. Musk had suggested Rivian executives need to spend more time at the factory to avoid bankruptcy, emphasizing the challenges of volume production and positive cash flow in the automotive industry.

Portfolio Pulse from Anan Ashraf

March 09, 2024 | 8:18 am

AMD

NVDA

Cathie Wood, CEO of ARK Investment Management, expressed concerns about a potential correction in the semiconductor sector, particularly highlighting Nvidia Corporation (NVDA) and Advanced Micro Devices, Inc. (AMD) after their recent rallies. Wood noted improvements in the supply chain and a reduction in GPU lead times, suggesting an easing of shortages that could lead to a market correction. Despite this, ARK recently added stock in Taiwan Semiconductor, a supplier to Nvidia, and trimmed positions in Nvidia and AMD ahead of their Q4 results.

Portfolio Pulse from Ananya Gairola

March 09, 2024 | 4:09 am

FFND

RIVN

Rivian Automotive, Inc. (RIVN) shares have rebounded following the announcement of new vehicle models, including the R2, R3, and R3X. Fund manager Gary Black predicts significant production increases and potential stock price growth, drawing parallels to Tesla's past performance. Black forecasts Rivian's production to reach 615,000 units in five to seven years, with revenue potentially hitting $22.7 billion and EBITDA $2.5 billion by 2030. He suggests a 136% upside potential for Rivian's stock, comparing valuation metrics to Tesla.

Portfolio Pulse from Shanthi Rexaline

March 09, 2024 | 3:28 am

BTCUSD

Bitcoin (BTC) has reached a new all-time high of $70,000, with analyst Michael van de Poppe suggesting it is 'still heavily undervalued' and predicting higher values ahead. Despite a potential 30% correction due to the upcoming Bitcoin halving event, inflows from Bitcoin ETFs have hit a record $1.72 billion in March, indicating strong market sentiment. The market cap of Bitcoin has grown to $1.339 trillion from $868 billion at the start of 2024.

Portfolio Pulse from Rounak Jain

March 09, 2024 | 2:34 am

CLF

METC

USAP

USGO

Cleveland-Cliffs Inc. increases spot prices for steel products, Ramaco Resources Inc. reports strong Q4 and annual financial results, AngloGold Ashanti Plc announces board chairman change, and analysts maintain or upgrade ratings for Universal Stainless and US Goldmining. Cleveland-Cliffs' price adjustment, Ramaco's financial performance and debt repayment, and AngloGold's board transition are key highlights.

Portfolio Pulse from Austin DeNoce

March 08, 2024 | 11:44 pm

YEXT

DA Davidson analyst Tom White maintains a Neutral rating on Yext (NYSE:YEXT) and raises the price target from $6.5 to $7.25.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 9:23 pm

CCL

NCLH

RCL

Carnival Corporation (NYSE:CCL) shares are trading higher after Stifel maintained a Buy rating and raised its price target from $25 to $26, citing underperformance compared to peers as a buying opportunity. Stifel anticipates Carnival could raise its full-year guidance in its upcoming report. This comes as competitors Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) and Royal Caribbean Cruises Ltd. (NYSE:RCL) reported better-than-expected earnings and raised guidance due to increased travel demand. Carnival's stock is trading around its 50-day moving average with a significant short interest. A long-term forecast suggests a challenging outlook for Carnival's stock price.

Portfolio Pulse from Erica Kollmann

March 08, 2024 | 9:01 pm

FHN

Barclays analyst Jared Shaw initiates coverage on First Horizon (NYSE:FHN) with an Overweight rating and a price target of $18.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 8:59 pm

EQT

EQT Corporation's (NYSE:EQT) short interest has decreased by 6.41%, now representing 4.09% of its available trading shares. This reduction in short interest, from 14.36 million shares, suggests a more bullish market sentiment towards EQT. The current short interest is below the peer group average of 6.57%, indicating less bearish sentiment compared to its peers. Short interest is a key indicator of market sentiment, and a decrease often suggests a positive outlook on the stock.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 8:45 pm