Streetbeat News

Price Targets

NFLX

Netflix Inc. (NASDAQ:NFLX) has indicated potential price hikes in the future to reflect improvements in the service, as mentioned in their shareholder letter post Q4 results. The company reported Q4 revenue of $8.83 billion and added 13.12 million net paying subscribers. Netflix has ended new subscriptions for its 'Basic' ad-free plan and is phasing it out in the UK and Canada. Co-CEO Ted Sarandos expressed satisfaction with the crackdown on password sharing and sees gaming as a significant opportunity, highlighted by the success of the Grand Theft Auto trilogy. Netflix will also add World Wrestling Entertainment to its platform in 2025.

Portfolio Pulse from Rounak Jain

January 24, 2024 | 8:49 am

BTCUSD

DOGEUSD

ETHUSD

GBTC

Cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) are in decline, partly due to institutional sales from ETFs. Grayscale's GBTC has seen significant outflows since converting to a spot Bitcoin ETF, with FTX's bankruptcy estate selling a large portion of its GBTC shares. Analysts predict a massive correction for Bitcoin, while some assets like Bitcoin Cash and Loopring are being actively shorted on Binance. The S&P 500 and Nasdaq hit new highs, and key economic indicators are expected later this week.

Portfolio Pulse from Mehab Qureshi

January 24, 2024 | 3:37 am

AMD

INTC

MU

NVDA

STX

WDC

Analysts from Citi and Mizuho provided their insights on the semiconductor industry, highlighting their top stock picks and price targets. Citi's Christopher Danely is optimistic about the semiconductor market's recovery, particularly in DRAM, and reiterated Micron Technology as his top pick with a price target of $95. He also recommended AMD, Microchip Technology, Broadcom (AVGO), Analog Devices, ON Semiconductor, Qualcomm, and GlobalFoundries. Mizuho's Vijay Rakesh discussed the data center and AI supply chain, favoring Nvidia for its AI dominance and Intel for its upcoming product ramps. Rakesh also sees potential in AMD's AI competition and has Buy ratings on AMD, Broadcom, Intel, Micron, Nvidia, Seagate Technology, and Western Digital with respective price targets of $162, $1,250, $58, $100, $625, $100, and $62.

Portfolio Pulse from Anusuya Lahiri

January 23, 2024 | 9:25 pm

VZ

BofA analyst David W. Barden maintained a Neutral rating on Verizon Communications Inc (NYSE:VZ) with a price target of $41, noting the company's Q4 results were in line with expectations and had better than expected wireless post-paid phone net additions. Verizon's 2024 financial guidance includes wireless service revenue growth, adjusted EBITDA growth, adjusted EPS, and capex, with Barden highlighting potential free cash flow factors and the wireless market growth outlook for 2024. VZ shares closed up 6.70% at $42.43.

Portfolio Pulse from Anusuya Lahiri

January 23, 2024 | 9:20 pm

DOCS

B of A Securities analyst Allen Lutz has maintained a Neutral rating on Doximity (NYSE:DOCS) and increased the price target from $29 to $32.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 9:20 pm

MNR

Mach Natural Resources (NYSE:MNR) has received 4 analyst ratings in the last three months, all bullish, with a recent average price target of $28.25, down from $30.50. Derrick Whitfield of Stifel lowered his price target twice, while John Freeman of Raymond James announced a strong buy with a $23.00 target. MNR has seen a revenue decline of -40.7% as of September 30, 2023, but boasts a high net margin of 47.6%, an ROE of 9.21%, and an ROA of 6.71%, with a low debt-to-equity ratio of 0.14.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 9:00 pm

CRM

Baird analyst Rob Oliver has maintained an Outperform rating on Salesforce (NYSE:CRM) and increased the price target from $300 to $310.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:11 pm

PLD

Baird analyst David Rodgers has maintained a Neutral rating on Prologis (NYSE:PLD) and increased the price target from $133 to $137.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:10 pm

BG

Baird analyst Ben Kallo has maintained a Neutral rating on Bunge Global (NYSE:BG) and reduced the price target from $125 to $108. The adjustment in the price target reflects a more conservative valuation of the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:08 pm

CHRS

Baird analyst Colleen Kusy has maintained an Outperform rating on Coherus BioSciences (NASDAQ:CHRS) but has reduced the price target from $11 to $9.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:05 pm