Streetbeat News

Earnings

AMT

CCI

SBAC

BMO Capital Markets analyst Ari Klein initiated coverage on three data REITs: American Tower Corp. (AMT), SBA Communications Corp. (SBAC), and Crown Castle Inc. (CCI). AMT received an Outperform rating with a price target of $230, SBAC a Market Perform rating with a price target of $260, and CCI an Underperform rating with a price target of $113. All three companies are set to announce earnings soon.

Portfolio Pulse from Ethan Roberts

July 14, 2023 | 6:02 pm

DAL

Morgan Stanley analyst Ravi Shanker reiterated an Overweight rating on Delta Air Lines Inc (DAL) and raised the price target from $70 to $77. The company reported 2Q23 EPS of $2.68, above consensus, and Adjusted Operating Revenues of $14.613 billion, also above consensus. The analyst believes the current long-term EPS target of $7 is likely achieved and the next stop should be a $10 EPS target by 2025/26. Despite the stock’s nearly 50% YTD run-up, the analyst thinks it can still double in the next couple of years.

Portfolio Pulse from Shivani Kumaresan

July 14, 2023 | 5:40 pm

PLUG

Northland Capital Markets analyst Abhishek Sinha upgraded Plug Power Inc (NASDAQ:PLUG) to Outperform from Market Perform and revised up the price target to $22. Sinha expects the company to achieve a break-even margin by the end of the year and generate cash flow next year. The company recently secured a new electrolyzer deal in Europe, which is expected to boost margins and revenues. PLUG shares are trading higher by 1.62% at $12.16.

Portfolio Pulse from Lekha Gupta

July 14, 2023 | 5:38 pm

PEP

PepsiCo Inc reported better-than-expected Q2 FY23 results, with sales growth of 10.4% YoY to $22.32 billion, beating the analyst consensus. The company also raised its FY23 organic revenue growth outlook to 10%. Following the announcement, several analysts including Wedbush, Argus Research, Deutsche Bank, and Evercore ISI Group raised their price targets on PepsiCo.

Portfolio Pulse from Lisa Levin

July 14, 2023 | 5:01 pm

LESL

Telsey Advisory Group analyst Dana Telsey has lowered the price target for Leslie's, Inc. (NASDAQ:LESL) to $8.50 from $11 due to softer demand for chemicals and macroeconomic challenges. Leslie's Q3 preliminary results forecast sales of $611 million, a comparable sales decline of 12%. The company also expects FY23 adjusted EPS of $0.28-$0.32, down from $0.78-$0.86 previously. In response to these trends, Leslie's is reducing its headcount by ~20%, cutting distribution costs, and slowing M&A.

Portfolio Pulse from Nabaparna Bhattacharya

July 14, 2023 | 4:57 pm

FREQ

PRFX

STT

THRX

The article lists the stocks that gained and lost the most in Friday's mid-day session. Among the gainers, PainReform Ltd. (PRFX) shares climbed 103% after announcing pricing of a $2.7 million concurrent registered direct offering and private placement. Frequency Therapeutics, Inc. (FREQ) gained 41.7% after agreeing to merge with Korro Bio. Among the losers, Theseus Pharmaceuticals, Inc. (THRX) shares dipped 69.9% after discontinuing enrollment in Phase 1/2 study and terminating development of THE-630 for gastrointestinal stromal tumors. State Street Corporation (STT) fell 10.5% after reporting slightly worse-than-expected second-quarter revenues and an increase in total expenses.

Portfolio Pulse from Lisa Levin

July 14, 2023 | 4:54 pm

ENPH

A significant investor has taken a bearish stance on Enphase Energy (NASDAQ:ENPH), with 66% of recent trades being bearish. The trades range from $130.0 to $260.0 for Enphase Energy over the last 3 months. The current price of ENPH is down -1.69% at $179.56. The next earnings are expected to be released in 13 days.

Portfolio Pulse from Benzinga Insights

July 14, 2023 | 4:19 pm

ACAD

AEHR

FREQ

GLMD

LESL

THRX

US stocks traded higher with Dow Jones gaining over 100 points. Citigroup reported better-than-expected Q2 results with a net revenue of $19.44 billion, beating the consensus of $19.27 billion. Aehr Test Systems, Frequency Therapeutics, and ACADIA Pharmaceuticals saw their shares rise after positive news, while Theseus Pharmaceuticals, Galmed Pharmaceuticals, and Leslie's saw their shares drop due to negative developments. Crude oil traded down 2%.

Portfolio Pulse from Lisa Levin

July 14, 2023 | 4:13 pm

Citigroup's shares are trading lower following the release of its Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 3:57 pm

DAL

Delta Air Lines Inc (NYSE:DAL) reported better-than-expected Q2 results, with a 19% YoY adjusted operating revenue growth to $14.61 billion and an adjusted EPS of $2.68. The company expects Q3 revenue growth of 11% - 14% and an EPS of $2.20 - $2.50. Despite the positive results, Delta Air shares fell 2.3% to trade at $46.53 on Friday. Analysts from Raymond James and Morgan Stanley raised their price targets on Delta Air Lines following the earnings announcement.

Portfolio Pulse from Lisa Levin

July 14, 2023 | 3:34 pm