Streetbeat News

Analyst Ratings

ALB

Keybanc analyst Aleksey Yefremov has maintained an Overweight rating on Albemarle (NYSE:ALB) but reduced the price target from $200 to $199.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:32 am

SGH

SMART Global Holdings, Inc. (NASDAQ:SGH) is expected to report lower Q1 earnings for fiscal year 2024, with analysts predicting earnings of 16 cents per share compared to 79 cents per share a year ago. Revenue is anticipated to be $275 million. The company previously reported Q4 results below expectations and provided Q1 guidance that fell short of estimates. SGH shares rose 2.5% to close at $18.24 on Monday. Analysts from Rosenblatt, Needham, and Deutsche Bank have maintained Buy ratings with price targets ranging from $22 to $35.

Portfolio Pulse from Avi Kapoor

January 09, 2024 | 8:36 am

META

NVDA

Goldman Sachs analyst Peter Oppenheimer predicts a new economic 'super cycle' driven by AI and decarbonization. The cycle differs from the one that began in the 1980s, as it won't rely on declining interest rates or globalization. AI's influence on productivity and decarbonization efforts are seen as new growth drivers. Last year, AI advancements led to significant gains for companies like Nvidia and Meta. Despite a rocky start to 2024, Wall Street is optimistic about AI's market impact. Decarbonization is also expected to stimulate economic growth as economies modernize in response to climate change. Goldman Sachs refuted AI bubble fears in 2023, projecting AI investment to reach $200 billion globally by 2025.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 8:28 am

BTCUSD

Jim Cramer, host of CNBC's 'Mad Money', expressed skepticism about Bitcoin's recent price surge, suggesting it may be 'topping out' as the market anticipates a potential spot Bitcoin ETF approval. He advised investors to buy Bitcoin directly if they are interested in the cryptocurrency, rather than investing in related stocks or ETFs. Cramer has previously sold most of his Bitcoin holdings and has been critical of the SEC's regulatory approach to cryptocurrencies.

Portfolio Pulse from Mehab Qureshi

January 09, 2024 | 6:56 am

MSFT

NVDA

NVIDIA Corp (NASDAQ:NVDA) shares jumped over 4% to a record high of $514, following its presentation at CES and updates on its China business. Despite the stock's significant growth, CNBC's Jim Cramer believes Nvidia is still undervalued. Nvidia is starting mass production of AI chips for Chinese customers in compliance with U.S. export rules, even as Chinese tech giants plan to reduce orders in favor of local suppliers. Nvidia also unveiled new GPUs at CES. Cramer has consistently supported Nvidia, even with competition from Microsoft Corp (NASDAQ:MSFT) and market rumors.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 6:39 am

COIN

Needham analyst John Todaro has given Coinbase Global Inc (NASDAQ:COIN) a Buy rating and raised the price target from $160 to $180, citing product growth, international expansion, and the launch of Base, an Ethereum Layer 2 chain. The analyst also sees potential positives from a Bitcoin ETF approval, the Bitcoin halving event, and possible interest rate cuts. Despite lower retail trading levels compared to 2021, Coinbase's recent earnings exceeded expectations, and the company plans to acquire a firm to offer crypto-linked derivatives in the EU. COIN's stock has surged 95.8% in the past six months.

Portfolio Pulse from Khyathi Dalal

January 08, 2024 | 10:19 pm

CMC

FCX

GOLD

IE

Freeport-McMoRan Inc. (FCX) was upgraded by Bernstein from Market Perform to Outperform with a new price target of $48.50. Barrick Gold Corporation (GOLD) was downgraded by Bernstein from Outperform to Market Perform. Commercial Metals (CMC) reported a year-over-year decline in earnings and net sales but maintained strong financial results and cash flows. Ivanhoe Electric Inc. (IE) announced significant progress on its Santa Cruz copper project, with promising drilling results and an expanded landholding.

Portfolio Pulse from Austin DeNoce

January 08, 2024 | 9:49 pm

BRO

Brown & Brown, Inc. shares have seen an uptick following upgrades to bullish ratings by analysts at RBC Capital and Goldman Sachs.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 8:14 pm

FI

KeyBanc analyst Alex Markgraff upgraded Fiserv, Inc (NYSE:FI) to Overweight with a $160 price target, citing optimism for robust growth in merchant solutions. Markgraff's analysis suggests that the payments and FinTech sectors are trading at significant discounts, and he sees potential for Fiserv's revenue and profitability to exceed market expectations. The analyst highlights Clover and Carat's performance as drivers for potential estimate revisions and views the company's balanced spend base as defensively positioned. Markgraff's Q4 revenue projection for Fiserv is $2.52 billion, with an EPS of $0.97, which is below the consensus of $4.69 billion in revenue and $2.15 EPS. Fiserv's stock traded higher by 1.53% to $134.60 following the upgrade.

Portfolio Pulse from Anusuya Lahiri

January 08, 2024 | 8:11 pm

EFX

Equifax's stock (EFX) is trading higher following an upgrade from B of A Securities, which changed its rating from Underperform to Buy and increased the price target from $164 to $300.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 8:10 pm