Streetbeat News

Equity Actions

KBR

KBR (NYSE:KBR) received mixed analyst ratings with 3 bullish and 1 somewhat bullish out of 4 total ratings. Analysts adjusted their 12-month price targets, resulting in an average target of $67.75, up from $66.00. Actions included ratings and target adjustments by analysts from Stifel, UBS, Citigroup, and Keybanc. KBR's financial performance shows revenue growth but challenges in profitability, debt management, and returns. The company operates globally in engineering and construction with $6.6 billion revenue in 2022.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 3:00 pm

MDT

Recent analyst ratings for Medtronic (NYSE:MDT) show a mix of bullish and indifferent stances, with an updated average 12-month price target of $91.75, marking a 5.46% increase from the previous target. Analysts from Mizuho, Truist Securities, and RBC Capital have raised their price targets, reflecting optimism about Medtronic's market position and financial health. Despite this, Medtronic's financial indicators such as ROE and ROA are below industry standards, suggesting challenges in capital and asset utilization.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 3:00 pm

MMM

3M announced it will spin off its healthcare business on April 1, retaining a 19.9% minority stake in the new entity, Solventum. The company plans to monetize its stake within the first five operational years of Solventum.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:39 pm

GRMN

Garmin Ltd (NYSE:GRMN) stock rose after reporting Q4 results with revenue growth of 13% Y/Y to $1.48 billion, surpassing the consensus of $1.42 billion. Proforma EPS was $1.72, beating the consensus of $1.40. The company saw growth in Fitness, Outdoor, and Marine segments, while Aviation declined. Garmin announced a dividend of $3.00 per share and authorized a $300 million share repurchase. FY24 revenue is expected to be $5.75 billion, above consensus, but projected EPS of $5.40 is below consensus. GRMN shares were up 5% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 21, 2024 | 2:23 pm

LYT

Lytus Technologies Holdings PTV. Ltd. (LYT) announced a 1-for-60 reverse stock split effective February 23, 2024, to maintain its Nasdaq listing by addressing the minimum bid price requirement. Shareholders will receive whole shares for fractional entitlements, and the total issued shares will reduce from 93,679,260 to approximately 1,561,321. The reverse split aims to regain compliance with Nasdaq's $1.00 per share minimum bid price rule.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:20 pm

AEP

IEP

JBLU

Icahn Enterprises L.P. (IEP) announced management changes, including Andrew Teno as CEO and David Willetts as CEO of Pep Boys. IEP reported an estimated indicative Net Asset Value of $4.76 billion as of year-end 2023 and maintained a quarterly distribution of $1.00 per depositary unit. The company highlighted its activist investment strategy's success, comparing its depositary units' growth to major indices since 2000. IEP also mentioned its positions in American Electric Power Company, Inc. (AEP) and JetBlue Airways Corp. (JBLU) and its intention to declare a $1.00 per depositary unit distribution for Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:08 pm

CURLF

GTBIF

JUSHF

Zuanic & Associates initiated coverage of Jushi Holdings Inc. with an Overweight rating, citing its undervaluation and strategic positioning in the cannabis sector. The firm highlights Jushi's potential for significant growth, especially with the anticipated shift to recreational cannabis sales in Pennsylvania and Virginia. The analysis also compares Jushi's valuation to other key players in the industry, such as Green Thumb Industries and Curaleaf Holdings, and discusses the broader competitive landscape. Additionally, the report touches on the potential for industry consolidation and Jushi's financial resilience.

Portfolio Pulse from Nicolás Jose Rodriguez

February 21, 2024 | 1:59 pm

AMZN

WBA

Amazon.com Inc (AMZN) shares are trading higher after being selected to join the Dow Jones Industrial Average (DJIA), replacing Walgreens Boots Alliance Inc (WBA). This change, effective Feb. 26, reflects the evolving American economy and aims to increase consumer retail exposure in the DJIA. The adjustment was influenced by Walmart's 3:1 split announcement, which alters its index weighting. Additionally, Uber will replace JetBlue Airways in the Dow Jones Transportation Average, enhancing exposure to the ride-sharing industry.

Portfolio Pulse from Adam Eckert

February 21, 2024 | 1:59 pm

CSPI

CSP Inc. has announced a 2-for-1 stock split in the form of a 100% stock dividend. Additionally, the company has increased its quarterly cash dividend to $0.05 per share on a pre-split basis, payable on March 08, 2024, to shareholders of record as of February 26, 2024. Future dividends will be adjusted according to the stock split.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:37 pm

PRG

Prog Holdings' Board of Directors has approved an additional $302 million for its existing share repurchase program, signaling confidence in the company's financial health and future prospects.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:26 pm