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Equity Actions

PBR

Petrobras CEO has announced that the company's natural expansion plans would involve exploring the Equatorial Margin in neighboring countries and parts of the African coastline.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 7:45 pm

ROKU

Benchmark analyst Daniel Kurnos has reiterated a Buy rating for Roku Inc (NASDAQ:ROKU) with a $89 price target. Kurnos believes that Roku's shift in investment strategy to focus on leverage is underappreciated and predicts a significant increase in free cash flow within the next 12-18 months. Despite potential near-term revenue challenges due to planned marketing spend reductions at networks, Kurnos sees Roku's importance within the ecosystem solidifying and expects growth acceleration in 2024 and beyond.

Portfolio Pulse from Anusuya Lahiri

July 17, 2023 | 7:38 pm

ALB

A significant amount of unusual options activity has been observed for Albemarle (NYSE:ALB), with a bearish stance being taken by a majority of investors. Of the 10 strange trades detected, 70% were bearish and 30% bullish. The total amount for the 2 puts was $225,970 and for the 8 calls was $689,002. Whales have been targeting a price range from $135.0 to $390.0 for Albemarle over the last 3 months. Morgan Stanley has downgraded its action to Underweight with a price target of $155, while Keybanc maintains their Overweight rating with a price target of $291.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 7:17 pm

C

Oppenheimer analyst Chris Kotowski has reiterated an Outperform rating on Citigroup, Inc. (NYSE:C), increasing the price target to $88 from $84. Despite a 1% YoY decline in Q2 FY23 net revenue to $19.44 billion, the figure beat the consensus of $19.27 billion. EPS was also above consensus at $1.33. Citigroup completed a billion dollars of share buy-backs this quarter, reducing the share count since 2015 by 35%. The bank expects FY23 adjusted revenue of $78 billion - $79 billion.

Portfolio Pulse from Nabaparna Bhattacharya

July 17, 2023 | 7:06 pm

JNJ

A significant investor has taken a bearish stance on Johnson & Johnson (NYSE:JNJ), with 90% of recent trades being bearish. The trades range from $105.0 to $175.0. The price of JNJ is currently down -0.39% at $159.24. Cantor Fitzgerald has downgraded its action to Overweight with a price target of $215, while Morgan Stanley maintains an Equal-Weight rating with a price target of $187.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 7:01 pm

PFE

A significant investor has taken a bearish stance on Pfizer (NYSE:PFE), with 53% of recent trades being bearish and 46% bullish. The total amount for put options was $1,310,868 and for call options $253,745. Whales have been targeting a price range from $25.0 to $40.0 for Pfizer over the last 3 months. Pfizer's current price is $36.04, down 0.77%. Several financial institutions have downgraded their actions on Pfizer, with price targets ranging from $40 to $75.

Portfolio Pulse from Benzinga Insights

July 17, 2023 | 7:01 pm

JANX

Janux Therapeutics Inc (NASDAQ:JANX) announced positive interim Phase 1 clinical data for its prostate cancer candidate, PSMA-TRACTr JANX007. The drug has been well tolerated with no dose-limiting toxicities and showed clinical activity. Concurrently, Janux priced an underwritten offering of over 4 million shares and pre-funded warrants, expecting to raise approximately $60 million. William Blair notes that Janux shares are currently undervalued based on the potential of the company’s TRACTr platform.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 6:36 pm

CHPT

TSLA

Oppenheimer analyst Colin Rusch reiterated an Outperform rating on ChargePoint Holdings Inc (CHPT) with a price target of $8.26. The analyst highlighted ChargePoint's key role in the EV charging landscape, its ability to service any OEM design, and its potential for positive operating leverage as channel revenues grow. The company is also well capitalized as it drives toward positive adjusted EBITDA in F2Y4.

Portfolio Pulse from Shivani Kumaresan

July 17, 2023 | 6:33 pm

ARKK

COIN

META

TSLA

ARK Invest, led by Cathie Wood, has reduced its stake in Twitter by 47% since it was taken private by Elon Musk. Despite Twitter's substantial debt burden and a significant decline in advertising revenue, Wood remains optimistic about its long-term prospects. ARK Invest continues to hold Tesla, Inc. and Coinbase Inc. as leading investments in its ARK Innovation ETF fund. The firm has also recently purchased a substantial number of shares in Meta Platforms.

Portfolio Pulse from Piero Cingari

July 17, 2023 | 6:31 pm

RDI

Mark Cuban has reported an 11.0% passive stake in Reading International Inc (RDI) as of July 13, 2023, according to a 13G SEC filing.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 6:28 pm