Streetbeat News

Analyst Ratings

SPY

Goldman Sachs CEO David Solomon expressed skepticism at Davos about the market's expectation of seven rate cuts in 2024, suggesting that the likelihood of such cuts is lower than previously thought. Despite this, he doesn't foresee a major market correction. The SPDR S&P 500 ETF (SPY) has seen a modest increase this year after a significant rally in 2023.

Portfolio Pulse from Erica Kollmann

January 18, 2024 | 9:31 pm

ABAT

IDR

BMO Capital analyst Katja Jancic downgraded Alcoa Corporation's (AA) price target from $30 to $29 following a Q4 earnings report showing a loss and revenue decline. Idaho Strategic Resources (IDR) reported its best year with significant revenue and gold production increases. American Battery Technology Company (ABAT) announced an upgraded resource classification for its Tonopah Flats Lithium Project, indicating a stronger potential for commercialization with a substantial increase in lithium resource size and higher confidence levels.

Portfolio Pulse from Austin DeNoce

January 18, 2024 | 9:31 pm

BTU

ELF

SRC

e.l.f. Beauty, Inc. (NYSE:ELF) shares experienced a pullback after reaching an all-time high earlier in the week. The stock had gained over 50% in the past three months, driven by strong holiday sales and positive market sentiment. Despite the recent decline, JP Morgan analyst Andrea Teixeira maintained an Overweight rating on ELF and increased the price target from $130 to $175. Additionally, ELF will replace Spirit Realty Capital Inc. (NYSE:SRC) in the S&P MidCap 400, and Peabody Energy Corp. (NYSE:BTU) will take ELF's place in the S&P SmallCap 600 effective January 23.

Portfolio Pulse from Ryan Gustafson

January 18, 2024 | 9:18 pm

BTCUSD

Jim Cramer tweeted a warning from trader Larry Williams about the crypto market being 'very far from the bottom,' leading to Bitcoin slipping below $41,000. This tweet has reignited the 'Inverse Cramer' sentiment, where traders do the opposite of Cramer's advice, expecting profitable outcomes. Bitcoin's price drop marks its lowest since the launch of spot Bitcoin ETFs.

Portfolio Pulse from Murtuza Merchant

January 18, 2024 | 9:14 pm

PYPL

PayPal Holdings, Inc. (NASDAQ:PYPL) shares have experienced volatility, with a recent rise in November, a drop at the end of December and into January, and a rebound attempt that was hindered by a downgrade from Mizuho analyst Dan Dolev. Dolev downgraded PayPal from Buy to Neutral and lowered the price target from $72 to $65, causing a sell-off. Despite this, PayPal shares attempted another comeback on Wednesday and extended gains on Thursday, rising over 4%.

Portfolio Pulse from Ryan Gustafson

January 18, 2024 | 8:58 pm

ANSS

CVS

GILD

QQQ

REGN

SNPS

SPY

Marc Chaikin, CEO of Chaikin Analytics, believes the 'buy everything' market sentiment is over due to the Federal Reserve's stance on interest rates. He predicts a stock picker's market for 2024, with a bullish outlook on stocks, particularly in the tech and biotech sectors. Synopsys (SNPS) is highlighted for its merger with Ansys (ANSS) and its potential value despite recent share price declines. Chaikin also sees opportunities in biotech companies like Gilead Sciences (GILD) and Regeneron Pharmaceuticals (REGN), as well as CVS Health Corp (CVS).

Portfolio Pulse from Neil Dennis

January 18, 2024 | 8:54 pm

MSFT

Bank of America Securities analyst Brad Sills reiterated a Buy rating on Microsoft Corp (NASDAQ:MSFT) and raised the price target from $430 to $450, citing a solid reacceleration story in 2024. Sills expects a 1% constant currency upside to Q2 revenue estimates, driven by Azure and M365 strength, despite weaker PC shipments. He anticipates currency to provide a 2% tailwind to growth and foresees a $450 million upside in PBP segment revenue. Additionally, accelerating ASP growth from M365 Copilot is expected to drive Office growth. Exane BNP Paribas analyst Stefan Slowinski upgraded Microsoft from Neutral to Outperform with a $471 price target. MSFT shares were up by 0.89% at $392.96.

Portfolio Pulse from Anusuya Lahiri

January 18, 2024 | 8:08 pm

NOW

ServiceNow's stock (NOW) is trading higher following Oppenheimer's reaffirmation of an Outperform rating and an increase in the price target from $750 to $800.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 8:01 pm

FHI

Four financial analysts have provided their ratings on Federated Hermes (NYSE:FHI), with a mix of indifferent and somewhat bullish views. The average 12-month price target is $37.0, with a high of $44.00 and a low of $32.00, marking a 5.13% decrease in the average target. Analysts from JP Morgan and UBS have raised their price targets, while TD Cowen has set a target of $32.00. Federated Hermes has a diverse asset management portfolio and has shown a revenue growth of 5.64% as of September 30, 2023. However, it faces challenges with a net margin below industry standards and a lower growth rate compared to peers. The company's strong ROE and ROA, along with a conservative debt-to-equity ratio, indicate financial health.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 8:00 pm

NFLX

Seaport Global analyst David Joyce has maintained a Buy rating on Netflix (NASDAQ:NFLX) and increased the price target from $482 to $541.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 7:57 pm