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RJF

Raymond James Financial (NYSE:RJF) was analyzed by 7 analysts, with a mix of indifferent and somewhat bullish ratings. The average 12-month price target is $117.14, up from the previous $110.80. Analysts from UBS, JP Morgan, Jefferies, TD Cowen, Goldman Sachs, and Morgan Stanley have adjusted their ratings and price targets, reflecting their latest views on the company's performance. Raymond James Financial is a financial holding company with over $1.2 trillion assets under administration, with 90% of revenue from the U.S. and 70% from wealth management. The company has seen a 7.76% revenue growth rate and has a strong financial structure with a debt-to-equity ratio of 0.31.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 9:00 pm

HBAN

Huntington Bancshares (NASDAQ:HBAN) has received mixed analyst ratings over the past three months, with 7 analysts offering views ranging from bullish to indifferent. The average 12-month price target has been raised to $14.57, reflecting an 18.55% increase from the previous target of $12.29. Analysts from firms including Citigroup, Evercore ISI Group, Barclays, Raymond James, RBC Capital, Goldman Sachs, and Morgan Stanley have raised their price targets for HBAN. The company faces challenges with a revenue decline of -8.31% as of December 31, 2023, a below-average net margin of 12.49%, and a low ROE of 1.3% and ROA of 0.11%. Its debt-to-equity ratio of 0.77 is higher than the industry average, indicating a higher financial risk.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 9:00 pm

ABVC

ABVC BioPharma (NYSE:ABVC) has experienced a significant increase in short interest, with a 696.3% rise since the last report. The current short interest represents 2.15% of the float, with 132 thousand shares sold short. It would take about 1.0 trading day to cover all short positions. While this increase in short interest may suggest bearish sentiment, it does not necessarily predict a price drop. ABVC's short interest is slightly below its peer group average of 2.28%.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 8:45 pm

GBTC

At Benzinga's Crypto & Blockchain Outlook webinar, experts from Grayscale, Tether, and the Chamber of Digital Commerce discussed the impact of a spot Bitcoin ETF approval on the cryptocurrency market. Tether's co-founder Brock Pierce sees the approval as a positive step for American businesses and investors, while Grayscale's David LaValle remains bullish on the asset class despite expecting outflows from the Grayscale Bitcoin Trust (OTC:GBTC) following its conversion to an ETF. The panel also discussed BlackRock's pivot to embrace digital assets, the SEC's ongoing adversarial stance on cryptocurrency regulation, and the potential role of Bitcoin alongside the dollar.

Portfolio Pulse from Ivan Crnogatić

January 25, 2024 | 8:28 pm

EFSH

1847 Holdings' stock price has declined following the announcement of a share offering of up to 2,673,797 shares at $1.87 each.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 8:17 pm

INBS

Intelligent Bio Solutions (INBS) announced a 1-for-12 reverse stock split, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 8:08 pm

BZFD

BuzzFeed Inc (NASDAQ:BZFD) and Vice Media are facing financial difficulties, leading to downsizing and asset sales. BuzzFeed's stock has dropped over 97% since its 2021 IPO, and it is now looking to sell its food-focused sites Tasty and First We Feast. Vice Media, overseen by Fortress Investment Group after bankruptcy, is trying to sell Refinery29 after a failed attempt to sell the entire company. Both companies are struggling with a volatile advertising market and reduced traffic, reflecting broader industry challenges for digital media.

Portfolio Pulse from Vandana Singh

January 25, 2024 | 8:06 pm

EQNR

Equinor (NYSE:EQNR) has agreed to a swap transaction with bp, gaining full ownership of the Empire Wind lease and projects, and taking over bp's 50% share of the South Brooklyn Marine Terminal lease. In exchange, bp will take full ownership of the Beacon Wind lease and projects. The deal is cash neutral, except for standard settlements. Equinor submitted a bid for Empire Wind 1 in New York's offshore wind solicitation and terminated the OREC agreement for Beacon Wind 1. The transaction will increase Equinor's near-term capital expenditure by approximately $1.2 billion in 2024 and $1.5 billion in 2025, and is expected to result in a reported loss of around $200 million, pending regulatory approval and a positive NY4 solicitation outcome.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 8:05 pm

GBTC

The SEC has postponed its decision on Grayscale's proposal for a spot Ethereum ETF, originally submitted by NYSE Arca on Oct. 10, 2023. The Grayscale Ethereum Trust aims to reflect the value of Ethereum, and the SEC is seeking public input on the proposal's compliance with the Securities Exchange Act of 1934. The SEC is concerned with potential fraudulent and manipulative acts, investor protection, and the correlation between Ethereum spot and futures markets. Public comments are invited within 21 days of the proposal's Federal Register publication, with an additional 35 days for rebuttals. Bloomberg analyst James Seyffart anticipates sporadic delays for spot Ethereum ETFs in the coming months, with the next significant date being May 23rd.

Portfolio Pulse from Murtuza Merchant

January 25, 2024 | 8:04 pm

STZ

Constellation Brands (NYSE:STZ) has seen a 24.32% increase in short interest since its last report, with 1.62 million shares sold short, representing 0.92% of available shares. The short interest is below the peer group average of 4.45%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Traders would need approximately 1.0 days to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 8:00 pm