Streetbeat News

Analyst Ratings

JPM

JPMorgan Chase & Co. (JPM) is set to release its Q4 earnings on Jan. 12, 2023, with expected earnings of $3.36 per share, down from $3.56 a year ago, and projected revenue of $39.78 billion, up from $35.57 billion. CEO Jamie Dimon remains opposed to cryptocurrencies. The stock closed down 0.4% at $170.30. Analysts from Deutsche Bank, Oppenheimer, Piper Sandler, BMO Capital, and HSBC have recently updated their ratings and price targets for JPM.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 7:48 am

BAC

Bank of America Corporation (NYSE:BAC) is anticipated to report lower earnings for Q4, with analysts predicting earnings of 63 cents per share, down from 85 cents in the previous year, and revenue of $23.74 billion, down from $24.66 billion. Despite better-than-expected earnings in Q3, BAC shares fell 1.3% recently. Analysts from Goldman Sachs, Oppenheimer, Keefe, Bruyette & Woods, BMO Capital, and Piper Sandler have provided various ratings and price targets for BAC stock.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 7:02 am

GRAM

Equity research firm Zuanic & Associates initiated coverage of Gold Flora (OTC:GRAM) with an Overweight rating, citing the company's strong position in the California cannabis market. The market, despite challenges, shows growth potential with Gold Flora well-placed to capitalize on it. The company, post-merger with The Parent Company, has a significant retail chain and brand presence, financial stability with $32 million in cash and negligible net debt, and plans for expansion and increased cultivation capacity. The valuation suggests a compelling opportunity, and while risks exist, the company's strategic positioning could mitigate them.

Portfolio Pulse from Nicolás Jose Rodriguez

January 12, 2024 | 2:55 am

BLK

Rick Rieder, CIO of global fixed income at BlackRock Inc (NYSE:BLK), predicts stocks could surge up to 12% in 2024, dismissing recession fears. He sees potential in the S&P 500 surpassing 5,300 points, driven by strong Big Tech performance and sectors like healthcare and defense. Rieder's view contrasts with other analysts predicting a recession due to consumer debt burdens.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 1:45 am

CMC

CMP

HL

Stifel analyst Vincent Anderson maintained a Buy rating on Compass Minerals Intl. (CMP) but lowered the price target from $75 to $60. Commercial Metals Company (CMC) increased its share buyback program by $500 million to a total of $850 million. Hecla Mining Company (HL) reported preliminary silver and gold production for 2023, with silver production slightly up despite challenges and gold production down 14%. Hecla expects to reach full production at the Lucky Friday mine in Q1 2024 and aims for 20 million ounces of silver production by 2025.

Portfolio Pulse from Austin DeNoce

January 11, 2024 | 9:53 pm

DVN

Devon Energy (NYSE:DVN) has been rated by 15 analysts, showing a mix of bullish and bearish sentiments. The average 12-month price target is $55.47, with a high of $77.00 and a low of $48.00, marking a 4.81% decrease in the average target. Analysts from firms like Mizuho, Raymond James, and UBS have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Devon Energy's financials indicate a negative revenue trend with a -29.38% growth over 3 months, but strong profitability with a net margin of 23.72% and an ROE of 8.03%. The company's debt-to-equity ratio is below industry average at 0.55.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 9:01 pm

MIDD

Analysts have mixed views on Middleby (NASDAQ:MIDD), with recent ratings ranging from bullish to indifferent. The average 12-month price target is $153.8, down from $163.00, with individual targets ranging from $137.00 to $160.00. Analysts from Jefferies, Keybanc, Barclays, and JP Morgan have adjusted their ratings and price targets, reflecting their latest outlook on the company. Middleby operates in the foodservice and kitchen equipment industry and has shown a revenue decline of -1.23% over the last quarter, with a net margin of 11.08% and ROE of 3.57%. The company's debt-to-equity ratio is 0.84, indicating higher debt levels than industry norms.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 9:00 pm

ACMR

ACM Research (NASDAQ:ACMR) has been evaluated by four analysts over the last three months, with a mix of opinions. The recent assessments show a shift towards a neutral stance in the last 30 days compared to more bullish views one month ago. Analysts have raised their 12-month price targets, with an average of $25.77, a high of $32.00, and a low of $22.10, indicating a 34.43% increase from the previous average target of $19.17. The company's financial performance shows strong revenue growth and net margin, but lower ROE and ROA compared to industry benchmarks, and a conservative debt management approach with a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 9:00 pm

ZGN

Goldman Sachs analyst Louise Singlehurst upgraded Ermenegildo Zegna N.V. (NYSE:ZGN) to Buy from Neutral and raised the price target to $18.70 from $17. Singlehurst is optimistic about Zegna's growth trajectory, citing a positive fundamental investment case, attractive valuation after recent underperformance, and strong medium-term targets. The analyst expects over a 10% sales CAGR and a 20% CAGR in adjusted EBIT over the medium term, with even higher growth anticipated from 2023 to 2027. The growth is attributed to new retail space, increased store productivity, and strong brand momentum with a loyal high-end customer base. Zegna's top 5% of customers account for 40% of sales, and the high-end customer cohort spending €50k+ per year grew by 63% compared to 2022. The analyst forecasts 20% FX growth in FY23 and 10% in FY24. ZGN shares rose 3.07% to $11.07 following the upgrade.

Portfolio Pulse from Nabaparna Bhattacharya

January 11, 2024 | 8:52 pm

AMZN

META

Mizuho analyst James Lee maintained a Buy rating on Meta Platforms Inc (META) and increased the price target from $400 to $470. Lee cites three catalysts: conservative FY24 revenue growth estimates, potential decrease in operating expenditure guidance, and revenue growth from WhatsApp using AI for customer service. He expects 4Q23 revenues to exceed consensus and has raised his FY25E EBITDA forecast by nearly 5%, introducing a FY26 estimated EBITDA of $107 billion. META shares traded slightly lower at $370.11.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:47 pm