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Equity Actions

SAM

STZ

TAP

Analyst Michael Lavery of Piper Sandler initiated coverage on Molson Coors Beverage Co (TAP), Boston Beer Company Inc (SAM), and Constellation Brands, Inc. (STZ), with varying ratings. TAP received a Neutral rating with a $69 price target, SAM was rated Overweight with a $350 target, and STZ also Overweight with a $300 target. Lavery highlighted TAP's market share gain and potential for margin expansion despite ongoing strikes. SAM's growth is expected from Twisted Tea and Hard Dew, with optimism for gross margin expansion. STZ is seen to benefit from U.S. market share gains in Mexican imports and has invested significantly in R&D, aiming for higher operating margins.

Portfolio Pulse from Priya Nigam

March 22, 2024 | 3:33 pm

CCL

Carnival Corporation (NYSE:CCL) has seen a significant amount of options trading activity, with a bullish sentiment prevailing among investors. Analysis of 10 trades revealed 60% bullish and 40% bearish expectations. The trades focused on a price target range of $14.0 to $18.0. Currently, CCL's stock is slightly up by 0.18% at $17.05, with an RSI indicating it may be approaching overbought territory. Analysts have set an average target price of $23.0 for CCL, with Goldman Sachs and Stifel providing specific targets of $20 and $26, respectively.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:16 pm

PEGA

Analysts have provided diverse opinions on Pegasystems (NASDAQ:PEGA) with a mix of bullish to bearish ratings over the past quarter. The recent evaluations show an average 12-month price target of $67.33, marking a slight increase from the previous $67.00. Key analysts from firms like Citigroup, DA Davidson, RBC Capital, Goldman Sachs, Wedbush, and Barclays have updated their ratings and price targets, reflecting changes in market dynamics and company performance. Pegasystems, known for its Pega Infinity platform, has shown notable revenue growth and strong financial metrics such as net margin and ROE, despite a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:00 pm

DK

Four analysts have recently updated their ratings on Delek US Holdings (NYSE:DK), with a mix of 'Neutral' and 'Underweight' ratings. The average 12-month price target has been raised to $29.00 from $26.50, indicating a positive sentiment shift. Despite this, Delek faces challenges such as revenue decline, below-average ROE and ROA, and high debt-to-equity ratio, suggesting mixed financial health.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:00 pm

TME

Tencent Music Entertainment Group (TME) announced the resignation of Mr. Zhenyu Xie as President, CTO, and board member, effective March 31, 2024. He will serve as a consultant post-resignation. Ms. Min "Shirley" Hu, the CFO, has been appointed as a director effective the same date. The company praised Mr. Xie's contributions and welcomed Ms. Hu's extensive finance and IT experience to the board.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 2:53 pm

BKNG

Booking Holdings (NYSE:BKNG) has seen a 10.15% increase in short interest, now at 741 thousand shares or 2.17% of float, taking 2.76 days on average to cover. This rise indicates a more bearish market sentiment towards BKNG, although it has less short interest compared to its peer average of 5.20%. The increase in short interest doesn't necessarily predict a near-term price fall.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 2:15 pm

AVGO

Broadcom (NASDAQ:AVGO) has seen a surge in options activity, with a bearish sentiment prevailing among investors. Analysis of 24 trades reveals 66% bearish and 33% bullish expectations. Significant trades focus on a price band between $1000.0 and $1500.0. Broadcom, a major semiconductor and software company, has its stock price slightly up by 0.24% at $1351.24. Analysts maintain a positive outlook, with an average target price of $1584.0.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 2:01 pm

CRC

California Resources (NYSE:CRC) has been analyzed by 9 analysts, showing a mix of bullish to bearish sentiments. The average 12-month price target is now $66.44, up from $65.88. Analyst actions include both raises and lowers in ratings and price targets. The company, an independent oil and natural gas producer in California, faces challenges in market capitalization, revenue growth, and net margin, but excels in ROE and ROA. Its debt-to-equity ratio is below industry average, indicating conservative financial management.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 2:00 pm

BCAN

BIOL

FDX

ISPR

MRNO

NVFY

SINT

U.S. stocks edged lower with the Dow, NASDAQ, and S&P 500 all seeing slight declines. FedEx Corporation reported better-than-expected Q3 earnings and announced a new $5 billion share repurchase program. Utilities shares rose, while consumer discretionary shares fell. Murano Global Investments, Nova LifeStyle, and BIOLASE saw significant stock price increases, whereas BYND Cannasoft Enterprises, Sintx Technologies, and Ispire Technology experienced notable drops.

Portfolio Pulse from Avi Kapoor

March 22, 2024 | 1:45 pm

THTX

Theratechnologies announces a phase-down of research activities to focus on its commercial business, leading to a restructuring charge comprising approximately $625,000 in cash charges for severance and other expenses, and about $770,000 in non-cash charges.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:39 pm