Streetbeat News

Analyst Ratings

QQQ

TLT

Vance Howard, CEO of Howard Capital Management, predicts that long-term bonds could outperform the S&P 500 in 2024. He cites the recent rally in the bond market and expects inflation to cool down with potential rate cuts by the Federal Reserve. Howard has invested in the iShares 20+ Year Treasury Bond ETF (TLT) and recommends the Invesco QQQ Trust (QQQ) for portfolio diversification. Bonds have seen their largest monthly gain in nearly 40 years, signaling a shift in Wall Street's expectations towards rate cuts.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 1:54 am

Unity Software Inc. (NYSE:U) shares have risen over 40% in the past month, boosted by a broad market rally and the Federal Reserve's decision to keep interest rates unchanged with potential rate cuts in 2024. Unity announced a strategic reset, including workforce and office reductions, which led to a 35% stock increase post-announcement. HSBC analyst Mohammed Khallouf initiated coverage with a Hold rating and a $37 price target. Unity's stock is trading above its 50-day moving average but below its 52-week high.

Portfolio Pulse from Erica Kollmann

December 26, 2023 | 8:34 pm

TFII

B of A Securities analyst Ken Hoexter has maintained a Neutral rating on TFI International (NYSE:TFII) and increased the price target from $127 to $140.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 8:10 pm

CMCSA

DIS

DKNG

PARA

PDYPY

PENN

Needham analyst Bernie McTernan maintains a Buy rating and a $50 price target on DraftKings Inc (NASDAQ:DKNG), citing a strong weekend for sportsbooks during NFL Week 16, with only 2 of the top 5 favorites winning outright and none covering the spread. This was likely beneficial for DraftKings' financials. The article also mentions the performance of other companies' sports betting apps, with ESPN Bet from PENN Entertainment (NASDAQ:PENN) initially ranking first but falling to second place behind PrizePicks, while DraftKings ranked third and Flutter Entertainment's FanDuel (OTC:PDYPY) ranked fourth. The article notes the NFL games aired on platforms owned by Comcast Corporation (NASDAQ:CMCSA), Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA), and The Walt Disney Company (NYSE:DIS). DraftKings shares are up 220% year-to-date in 2023.

Portfolio Pulse from Chris Katje

December 26, 2023 | 8:00 pm

EFA

IVV

SPY

VOO

WFC

XLB

XLI

XLV

Wells Fargo Investment Institute has set a target for the S&P 500 Index at 4600-4800 by the end of 2024, expecting global earnings to face challenges early in the year but to rebound later. They favor large-caps over mid-caps and small-caps, and have a target for the MSCI EAFE Index at 2000-2200. Wells Fargo's favored sectors for 2024 are Health Care, Industrials, and Materials, while Consumer Discretionary and Real Estate are viewed unfavorably. ETFs tracking these indices and sectors are highlighted as investment options.

Portfolio Pulse from Surbhi Jain

December 26, 2023 | 7:37 pm

ARM

Rosenblatt analyst Hans Mosesmann maintained a Buy rating on ARM Holdings Plc (NASDAQ:ARM) and increased the price target from $85 to $110, citing growth potential from generative AI design and licensing momentum. The analyst's optimism is based on recent findings from an Asia trip and SoC IP checks, expecting ARM to benefit from improved licensing and royalty dynamics. Key drivers for ARM's growth include the v9 architecture shift, AI advancements, CPU share gains in PCs and servers, and the new ARM CSS program. The analyst suggests a mid-40s P/E multiple on FY26 EPS of ~$2.50, leading to the revised price target. ARM shares were trading up by 0.82% at $72.89.

Portfolio Pulse from Anusuya Lahiri

December 26, 2023 | 7:09 pm

MPWR

NVDA

TSLA

Rosenblatt Securities analyst Hans Mosesmann reiterated a Buy rating on Monolithic Power Systems, Inc. (MPWR), raising the price target to $750 from $550 due to a strong AI roadmap and partnership with NVIDIA Corporation (NVDA). The company is expected to benefit from the power analog AI sector, sophisticated power analog and liquid cooling techniques, and its relationship with NVIDIA and other AI accelerator chip players. Additionally, Monolithic Power is likely to see dollar content expansion in automotive platforms, chasing Tesla, Inc. (TSLA) EV/autonomous driving innovation. Revenue and EPS projections for FY23, FY24, and FY25 were provided, with a price target based on a high-30's P/E multiple and a 20%+ sales CAGR.

Portfolio Pulse from Nabaparna Bhattacharya

December 26, 2023 | 6:59 pm

FPI

Raymond James analyst Buck Horne has reiterated an Outperform rating on Farmland Partners Inc (FPI) and increased the price target from $14 to $15. Despite a 10% year-over-year drop in agricultural commodity prices, U.S. farmers are experiencing strong profitability, with 2023 expected to be the third-highest year for farm income in a decade. FPI has repurchased over 11% of its shares year-to-date at $11/share and announced a special dividend of $0.21/share. The company has also completed property dispositions worth $71.1 million this quarter, with a year-to-date total of $122 million. FPI is executing a $190 million capital recycling program to leverage the difference between public valuation and private market value. Lease renewals in 2023 have seen an 18% increase year-to-date. With $163.1 million in available liquidity, FPI is well-positioned to maintain its dividend. The analyst estimates FPI's Net Asset Value/share at $16, indicating a 20% discount on the current share price, with the target price reflecting a 10% discount to NAV. FPI shares are up 1.65% at $12.97.

Portfolio Pulse from Shivani Kumaresan

December 26, 2023 | 6:51 pm

LLY

Options market analysis shows a bullish sentiment towards Eli Lilly (NYSE:LLY), with 56% of traders being bullish. Significant options trades have been observed, with a focus on strike prices ranging from $300 to $630. Eli Lilly's stock is slightly down at $568.35 with potential oversold conditions. Analysts have set an average price target of $630, with Truist Securities giving a 'Buy' rating with a $650 target and Daiwa Capital rating it 'Outperform' with a $610 target.

Portfolio Pulse from Benzinga Insights

December 26, 2023 | 6:00 pm

GRCL

BTIG analyst Justin Zelin has downgraded Gracell Biotechnologies (NASDAQ:GRCL) from Buy to Neutral, indicating a shift in the firm's outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 5:17 pm