Streetbeat News

Price Targets

BROS

Stifel analyst Chris O'Cull upgraded Dutch Bros Inc (NYSE:BROS) from Hold to Buy and increased the price target from $32 to $35, citing positive management changes, a solid transition plan, and effective digital marketing strategies. The company's adjustments to its Dutch Rewards program and product innovations, including the recent launch of Protein Coffee, are expected to drive long-term growth and improve new store volumes while reducing sales cannibalization.

Portfolio Pulse from Shivani Kumaresan

January 16, 2024 | 9:22 pm

FMC

BofA Securities analyst Steve Byrne downgraded FMC Corporation (NYSE:FMC) from Neutral to Underperform and lowered the price target from $60 to $57. Byrne predicts a 20% volume contraction for FMC in 2023, which would more than offset the 18% volume gain over the past two years. The contraction is based on the assumption that global inventory levels of crop chemicals will normalize, indicating flat underlying demand. Byrne also expressed concerns about the crop chemical industry's pricing discipline and the challenges in valuing FMC's product pipeline, which includes synthetic products, biologicals, and pheromones. Additionally, Byrne cut the 2024 and 2025 EPS and revenue estimates for FMC. Following the downgrade, FMC shares closed 2.01% lower at $57.04.

Portfolio Pulse from Nabaparna Bhattacharya

January 16, 2024 | 9:12 pm

LRCX

Stifel analyst Brian Chin has maintained a Buy rating on Lam Research (NASDAQ:LRCX) and increased the price target from $750 to $850.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:11 pm

KLAC

Stifel analyst Brian Chin has reaffirmed a Buy rating on KLA Corporation (NASDAQ:KLAC) and increased the price target from $535 to $625, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:09 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong discussed the impact of Bitcoin ETF approvals on the company, stating it's a positive development. Despite a recent 16% drop in COIN shares post-approval, the stock is still up over 77% in the last three months. Armstrong highlighted Coinbase's role as custodian for 10 of the 13 Bitcoin ETF applications, which could bring modest custody fees. Ark Invest sold 31,281 shares of Coinbase, while Wedbush analyst Moshe Katri upgraded COIN's price target from $110 to $180, maintaining an Outperform rating.

Portfolio Pulse from Erica Kollmann

January 16, 2024 | 9:07 pm

EYPT

HC Wainwright & Co. analyst Yi Chen has maintained a Buy rating on EyePoint Pharmaceuticals (NASDAQ:EYPT) but has reduced the price target from $35 to $33.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:05 pm

NKTX

HC Wainwright & Co. analyst Emily Bodnar has reaffirmed a Buy rating on Nkarta (NASDAQ:NKTX) and increased the price target from $10 to $22.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:01 pm

LNW

Light & Wonder (NASDAQ: LNW) has been analyzed by 4 analysts, with ratings ranging from bullish to indifferent. The average 12-month price target is $90.75, up 8.04% from the previous $84.00. Analysts from Benchmark, Susquehanna, Stifel, and Truist Securities have updated their ratings and price targets, reflecting positive sentiment and market conditions. Light & Wonder, a gaming machine manufacturer and mobile game developer, shows strong financial health with a market cap above industry average, notable revenue growth, high net margin, ROE, and ROA, and a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 9:01 pm

EGP

EastGroup Props (NYSE:EGP) received mixed analyst ratings in the latest quarter with 1 somewhat bullish and 3 indifferent ratings. The average 12-month price target for EGP is $181.5, up 3.71% from the previous target of $175. The company has shown strong financial performance with a revenue growth of 16.61%, a net margin of 33.37%, an ROE of 2.13%, and an ROA of 1.14%. Its debt-to-equity ratio of 0.71 is below the industry average, indicating a healthy balance between debt and equity.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 9:01 pm

TEAM

Atlassian (NASDAQ:TEAM) has received mixed analyst ratings over the past three months, with 1 bullish and 4 indifferent ratings. The average 12-month price target is $206.00, slightly up from the previous $205.00. Analysts from Mizuho and Truist Securities have raised their price targets, while Scotiabank announced a new target and Piper Sandler lowered theirs. Atlassian's financial performance shows strong revenue growth but below-average net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 9:01 pm