Streetbeat News

Analyst Ratings

ALB

Financial analysts have observed a bullish trend in the options market for Albemarle (NYSE:ALB), with 70% of traders showing bullish sentiment. The analysis of unusual trades revealed a preference for calls over puts, indicating a predicted price range for ALB between $90.0 and $230.0. Albemarle, a leading lithium producer for batteries, especially in electric vehicles, has seen its stock price increase by 0.85% to $119.19. Analyst ratings over the past month suggest an average target price of $140.6, with varying recommendations from Overweight to Neutral.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 7:45 pm

DIS

FOXA

WBD

Citigroup analyst Jason Bazinet upgraded Fox Corp (NASDAQ:FOXA) from Neutral to Buy, raising the price target from $34 to $35, following the announcement of a sports joint venture with Walt Disney Co (NYSE:DIS) and Warner Bros Discovery, Inc (NASDAQ:WBD). The JV, which encompasses ~50% of US sports rights, is expected to positively impact Fox's revenue and EBITDA for fiscal years 2025 and 2026. The Justice Department is reviewing the JV due to potential consumer and market concerns. Fox's Q2 2023 revenues were $4.23 billion, with an adjusted EPS of $0.34, beating consensus.

Portfolio Pulse from Anusuya Lahiri

February 23, 2024 | 7:42 pm

NICE

NICE Ltd (NASDAQ:NICE) reported strong Q4 fiscal 2023 results with a 9.6% year-over-year revenue growth to $623.19 million, surpassing consensus estimates. Adjusted EPS rose to $2.36 from $2.04, beating expectations. The company provided optimistic FY24 guidance, expecting significant revenue and EPS growth. Following the report, analysts from Wedbush, RBC Capital, and JMP Securities raised their price targets on NICE. Despite the positive results and outlook, NICE shares fell 2.7% to $238.90.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 7:39 pm

VZ

KeyBanc analyst Brandon Nispel maintains an Overweight rating on Verizon Communications Inc (NYSE:VZ) with a price target of $46, citing strong growth prospects for 2024 due to operational changes and data-driven strategies. The focus on myPlan is expected to double its lines and increase ARPUs, while personalized offers from extensive data analysis are anticipated to improve customer outcomes and Verizon's performance. Despite a recent price increase causing first-quarter softness, Verizon's competitive position and financial metrics are improving.

Portfolio Pulse from Anusuya Lahiri

February 23, 2024 | 7:38 pm

EVH

Evolent Health, Inc. (NYSE:EVH) reported Q4 earnings of 23 cents per share, surpassing estimates of 15 cents. Sales were $556.05 million, exceeding expectations of $542.39 million. CEO Seth Blackley highlighted a strong year with over 45% annual revenue growth and successful integration of NIA. Shares rose 11.5% to $33.20. Canaccord Genuity and JMP Securities adjusted their price targets on EVH following the results.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 7:31 pm

AXTI

AXT, Inc. (NASDAQ:AXTI) reported Q4 sales of $20.4 million, surpassing the consensus of $17.6 million and showing improvement from Q3's $17.4 million. Adjusted operating expenses decreased to $7.5 million from $9.0 million the previous year, though the adjusted operating loss widened to $(2.7) million from $(0.3) million a year ago. CEO Morris Young highlighted AI as a new catalyst for demand in indium phosphide for rapid data transfer. Following the report, AXT shares surged 82.8% to $4.17. Analysts from Craig-Hallum, Wedbush, and Needham revised their price targets and ratings, showing increased optimism.

Portfolio Pulse from Avi Kapoor

February 23, 2024 | 7:24 pm

PAAS

Scotiabank analyst Ovais Habib has maintained a Sector Outperform rating on Pan American Silver (NYSE:PAAS), while reducing the price target from $20 to $19.5.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 7:09 pm

MRVI

Maravai LifeSciences Holdings Inc (NASDAQ:MRVI) reported Q4 2023 revenue of $74.1 million, surpassing the consensus of $64.38 million, and introduced a 2024 revenue guidance range of $265.0 million to $285.0 million, above expectations. Despite a net loss of $(110.0) million due to a valuation adjustment, the adjusted EBITDA margin was 28%. The adjusted EPS of $0.01 exceeded the estimated $(0.01) loss. William Blair remains optimistic, reiterating an Outperform rating, as MRVI shares surged 60.8% to $8.22.

Portfolio Pulse from Vandana Singh

February 23, 2024 | 7:07 pm

FOXF

Fox Factory Hldg (NASDAQ:FOXF) has received mixed analyst ratings over the past three months, with a recent shift towards a more cautious stance. The average 12-month price target has been adjusted to $61.25, down from $79.67, reflecting a 23.12% decrease. Analysts from B of A Securities, Stifel, and Truist Securities have updated their ratings and price targets, indicating a response to market dynamics and company performance. Despite challenges in revenue growth and below-average ROE and ROA, Fox Factory Hldg maintains a strong net margin and a prudent debt management strategy.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 7:01 pm

ENV

Envestnet (NYSE:ENV) has received mixed analyst ratings over the past three months, with a recent shift towards a neutral stance. The average 12-month price target is $56.5, marking an 11.33% increase from the previous target. Analysts from JP Morgan, RBC Capital, Raymond James, and DA Davidson have raised their price targets, reflecting optimism about Envestnet's market position despite its financial challenges such as lower ROE and ROA compared to industry averages, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 7:01 pm