Streetbeat News

Analyst Ratings

ECL

RBC Capital analyst Ashish Sabadra has maintained an Outperform rating on Ecolab (NYSE:ECL) and increased the price target from $213 to $238.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 7:03 pm

NFLX

Piper Sandler analyst Matt Farrell reiterated a Neutral rating on Netflix (NASDAQ:NFLX), raising the price target to $475 from $400. Netflix is expected to post Q4 results on January 23, 2024. The stock has rallied nearly 40% in recent months, indicating investor expectations for a strong Q4 performance. Global paid net adds for Q4 are expected to be similar to Q3, with global ARM flat year-over-year. Netflix anticipates Q4 revenue of $8.7 billion, an 11% increase year-over-year, and a 2024 operating margin of 22-23%. The 2024 cash content spend is projected to be $17 billion, up from $13 billion in 2023, due to the impact of a writer's strike. NFLX shares were up 0.67% to $483.57 at last check.

Portfolio Pulse from Nabaparna Bhattacharya

January 18, 2024 | 7:01 pm

PLXS

Plexus (NASDAQ:PLXS) has received mixed ratings from 4 analysts in the past three months, with an average 12-month price target of $111.25, up from the previous $110.00. The company faces revenue challenges with a -8.89% decline as of September 30, 2023, but shows strong profitability with a net margin of 3.93% and effective use of equity with an ROE of 3.36%. Analysts' ratings range from 'Buy' to 'Neutral', with price target adjustments reflecting market dynamics and company performance.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 7:00 pm

PLXS

Needham analyst James Ricchiuti has maintained a Buy rating on Plexus (NASDAQ:PLXS) but has reduced the price target from $113 to $110.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:50 pm

CYRX

Needham analyst David Saxon has maintained a Buy rating on CryoPort (NASDAQ:CYRX) and increased the price target from $18 to $19.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:48 pm

AZTA

Needham analyst David Saxon has reaffirmed a Buy rating on Azenta (NASDAQ:AZTA) and increased the price target from $68 to $76, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:44 pm

SHAK

Truist Securities analyst Jake Bartlett has reiterated a Buy rating on Shake Shack (NYSE:SHAK) and maintained the price target of $87.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:42 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) stock is trading lower, down over 17% in the past five days. Deutsche Bank downgraded Rivian from Buy to Hold and lowered its price target from $29 to $19, citing expected volume guidance of only 65,000 units, factory shutdowns, and a slow ramp-up leading to potential heavy losses through Q3 2024. Rivian also announced the availability of its R1S electric SUV for leasing. The stock is trading below its 50-day moving average, and a high percentage of shares are being sold short, contributing to volatility. Analysts rate Rivian as Neutral, with Deutsche Bank's Emmanuel Rosner being the most bearish.

Portfolio Pulse from Erica Kollmann

January 18, 2024 | 6:34 pm

PI

Needham analyst James Ricchiuti raised the price target for Impinj Inc (PI) to $115 from $85 and maintained a Buy rating, reflecting optimism for better-than-expected Q4 2023 results. Impinj now expects revenue over $70 million, surpassing prior guidance and consensus estimates, with adjusted EBITDA of more than $2.5 million. The increase is attributed to higher endpoint revenue and sequential growth in systems revenue. Management sees early-stage growth with enterprise customers and potential for leveraging solutions with other partners. The retail apparel inventory overhang is nearing an end, and PI is expected to return to strong growth in H2 FY24 and FY25. Ricchiuti raised FY24 revenue estimates to $329.0 million and introduced an FY25 estimate of $400.5 million. PI shares rose 3.49% to $94.25.

Portfolio Pulse from Lekha Gupta

January 18, 2024 | 6:31 pm

ARGX

HALO

Halozyme Therapeutics Inc (NASDAQ:HALO) provided its first five-year financial guidance, projecting revenue growth and increased EPS through 2028. For 2023, Halozyme expects revenues slightly below consensus but higher EPS. By 2028, revenues are forecasted to reach $1.565-$1.69 billion. HC Wainwright remains optimistic, despite lowering the price target for Argenx SE (NASDAQ:ARGX) from $61 to $48, maintaining a Buy rating. Analysts see potential in Halozyme's Enhanze platform and anticipate new partnerships. The U.S. infusion therapy market, where Enhanze could grow, is valued at $41.7 billion. HALO shares dropped 4.66% to $34.36.

Portfolio Pulse from Vandana Singh

January 18, 2024 | 6:28 pm