Streetbeat News

Analyst Ratings

LHX

RBC Capital analyst Ken Herbert has maintained an 'Outperform' rating on L3Harris Technologies (NYSE:LHX) but lowered the price target from $240 to $225.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 6:25 pm

LHX

Raymond James analyst Brian Gesuale upgraded L3Harris Technologies Inc (NYSE:LHX) to Outperform from Market Perform and set a price target of $210. The analyst is bullish due to the company's improved fundamentals and expects it to normalize in the coming quarters. He also expects non-core asset sales and FCF of $2.5 billion in FY24 and FY25 to reduce leverage. Last week, L3Harris reported Q3 FY23 adjusted EPS of $3.19, beating the consensus of $3.03, and revenue of $4.915 billion, surpassing the street view of $4.76 billion.

Portfolio Pulse from Lekha Gupta

October 30, 2023 | 6:19 pm

BLK

Unusual options activity has been observed for BlackRock (NYSE:BLK), with a large position indicating a bullish stance. The sentiment among these big-money traders is split between 52% bullish and 47% bearish. The options trades target a price range from $530.0 to $900.0 for BlackRock over the last 3 months. Major banks including Morgan Stanley, Deutsche Bank, Wells Fargo, and JP Morgan have maintained their positive ratings on BlackRock, with price targets ranging from $708 to $897.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 6:16 pm

NOW

A significant bearish stance has been taken on ServiceNow (NYSE:NOW) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 90% bearish. Whales have been targeting a price range from $320.0 to $790.0 for ServiceNow over the last 3 months. The price of NOW is currently up 0.9% at $559.0. Several financial firms have given their ratings and price targets for ServiceNow.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 6:15 pm

SAM

Morgan Stanley analyst Eric Serotta reiterated an Underweight rating on Boston Beer Company Inc (NYSE:SAM) and raised the price target from $270 to $285. Despite beating Q3 FY23 revenue and EPS estimates, the analyst expects SAM's volumes to remain under structural pressure with continued declines in the malt-based hard seltzer category. The analyst also sees limited visibility for SAM to return to its targeted 49% - 50% gross margins over the next several years.

Portfolio Pulse from Shivani Kumaresan

October 30, 2023 | 6:14 pm

VZ

A significant investor has taken a bearish stance on Verizon Communications (NYSE:VZ), with 68% of the spotted trades being bearish. The whales have been targeting a price range from $25.0 to $40.0 for Verizon over the last 3 months. The price of VZ is up 3.66% at $34.66, and RSI indicators suggest it may be approaching overbought. Barclays upgraded its action to Overweight with a price target of $38.

Portfolio Pulse from Benzinga Insights

October 30, 2023 | 6:00 pm

AYI

Zacks Alternate Energy Innovators Newsletter has picked Acuity Brands (AYI) as a stock to watch. No specific reasons were given in the article.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 5:57 pm

AMD

AMZN

META

MSFT

Analysts from Rosenblatt, Raymond James, KeyBanc, and BMO Capital have reiterated their positive ratings on Advanced Micro Devices, Inc (AMD), ahead of its Q3 earnings. They expect AMD to deliver in-line results, with robust data center and PC CPU dynamics offsetting weaker enterprise, embedded, and PC gaming trends. The analysts also anticipate a bullish posture in strategic product areas, including the new MI300A/X APU/GPU compute accelerators. AMD is installing MI300A into the El Capitan supercomputer and the MI300X is expected to ramp up in 2024. AMD is also reportedly working with Microsoft Corp (MSFT), Meta Platforms Inc (META), and Amazon.Com Inc (AMZN).

Portfolio Pulse from Anusuya Lahiri

October 30, 2023 | 5:54 pm

BYDDF

LI

NIO

TSLA

XPEV

BYD Company Limited reported Q3 2023 earnings that beat analyst expectations, with sales of 162 billion RMB ($22.1 billion), a 38.49% improvement YoY, and net profit of 9.7 billion RMB, up 81% YoY. Despite the strong performance, HSBC cut its price target for BYD by 4% due to increased A-share and H-share spread, but maintained its Buy rating. HSBC also predicts Q4 earnings will rise and forecasts an additional increase in earnings growth of 7-16% for the 2023-2025 period.

Portfolio Pulse from Daniel Harrison

October 30, 2023 | 5:52 pm

RVPH

Reviva Pharmaceuticals Holdings Inc (RVPH) shares surged after the company released positive results from its Phase 3 RECOVER trial for brilaroxazine, a drug for adults with schizophrenia. The trial met its primary endpoint, with a significant reduction in PANSS total score. Roth Capital Partners maintains a Buy rating for RVPH with a price target of $12, noting robust data across multiple endpoints. However, they also noted a higher than expected weight gain in patients, which will be further evaluated.

Portfolio Pulse from Vandana Singh

October 30, 2023 | 5:49 pm