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Price Targets

BBWI

TGT

TPR

Dana Telsey of Telsey Advisory Group shared her top retail stock picks for 2024 on CNBC, highlighting Ralph Lauren (RL) and Bath and Body Works (BBWI) for their innovation and growth potential. She predicts RL could reach $165 and praised BBWI's loyalty program. Telsey was optimistic about Target (TGT) due to upcoming brand collaborations and merchandise enhancements. However, she expects Estee Lauder (EL) to face a challenging year with earnings pressure, despite new product innovations in late 2024. Telsey sees opportunities in the luxury goods sector, mentioning LVMH's strength and Tapestry's (TPR) growth potential after its business combination with Michael Kors.

Portfolio Pulse from Erica Kollmann

December 27, 2023 | 8:38 pm

BTCUSD

Perianne Boring, CEO of the Chamber of Digital Commerce, predicts Bitcoin could reach $1 million per coin. The anticipation of a spot Bitcoin ETF approval has driven a 160% increase in Bitcoin's price this year, with a 65% rise in the last three months. Boring argues that the approval will allow easier access for investors, potentially increasing demand and driving prices higher. Institutional investors could improve their Sharpe ratio by adding Bitcoin to their portfolios. The Chamber's valuation models place Bitcoin's current value between $100,000 and $210,000, with potential for significant growth as adoption increases.

Portfolio Pulse from Adam Eckert

December 27, 2023 | 8:31 pm

HUMA

Benchmark analyst Bruce Jackson has maintained a Buy rating on Humacyte (NASDAQ:HUMA) but has reduced the price target from $16 to $15.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 7:23 pm

ABNB

BKNG

EXPE

Wedbush analyst Scott Devitt has given a positive outlook on Booking Holdings Inc. (BKNG), raising its price target due to its global leadership in the OTA market, efficient marketing, and a strategy aimed at EPS growth. Booking is expected to face tougher comparisons in 2024 after outperforming peers in 2023. Airbnb Inc. (ABNB) maintains a Neutral rating with a stable price target, as it faces increased competition in alternative accommodations. Expedia Group Inc. (EXPE) also holds a Neutral rating, with a raised price target, but is expected to struggle in regaining market share due to the growth of competitors like Booking and Airbnb.

Portfolio Pulse from Nabaparna Bhattacharya

December 27, 2023 | 7:07 pm

MAT

D.A. Davidson analyst Linda Bolton Weiser maintains a Buy rating on Mattel Inc (NASDAQ:MAT) with a $25 price target, citing a positive near-term outlook despite challenges in the toy industry. The industry faces low barriers to entry and rapidly changing consumer interests, making it difficult for companies to maintain brand success. Mattel's performance is heavily reliant on holiday season sales. The analyst expects Mattel's 4Q23E sales to grow over 20% Y/Y and notes the company's raised FY23 adjusted EPS guidance to $1.15 - $1.25. Mattel's stock is currently trading slightly lower.

Portfolio Pulse from Shivani Kumaresan

December 27, 2023 | 6:45 pm

CART

DASH

LYFT

UBER

Wedbush analyst Scott Devitt provided insights on mobility stocks for 2024, with Uber Technologies Inc (UBER) rated Outperform with a $67 target, DoorDash Inc (DASH) rated Neutral with a $92 target, Instacart (CART) rated Neutral with a lowered target of $26, and Lyft Inc (LYFT) rated Neutral with a raised target of $14. Devitt highlighted growth drivers for UBER, execution risks for DASH, competitive challenges for CART, and industry trends benefiting LYFT. UBER shares rose 1.52%, DASH 0.67%, LYFT 0.10%, while CART shares fell 1.07%.

Portfolio Pulse from Lekha Gupta

December 27, 2023 | 6:25 pm

CYTK

Needham analyst Serge Belanger has maintained a Buy rating on Cytokinetics (NASDAQ:CYTK) and increased the price target from $60 to $108.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 6:11 pm

AMZN

GOOGL

META

Wedbush analysts, led by Scott Devitt, provided insights for 2024, favoring Amazon (AMZN) and Meta Platforms (META) in eCommerce and digital advertising, respectively. They predict normalized growth rates for both sectors and see Amazon as well positioned with rising retail margins, AWS growth, and strong advertising revenue. Meta is expected to benefit from monetization of new products and AI features. Google (GOOGL) was downgraded to #2 in digital advertising due to challenges in Google Cloud and AI initiatives. Wedbush maintains Outperform ratings on all three, with price targets of $210 for AMZN, $420 for META, and $160 for GOOGL.

Portfolio Pulse from Anusuya Lahiri

December 27, 2023 | 5:53 pm

GRCL

Wells Fargo analyst Yanan Zhu has downgraded Gracell Biotechnologies (GRCL) from Overweight to Equal-Weight and set a price target of $10. The downgrade reflects a change in the bank's view on the stock's future performance.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 5:27 pm

CVRX

Lake Street has reaffirmed its Buy rating on CVRx (NASDAQ:CVRX) and increased its price target from $21.00 to $32.00. CVRx's stock is currently trading at $31.44, up 1.29% over the last 24 hours. The new price target suggests a modest 1.78% potential upside. CVRx is a medical device company specializing in neuromodulation solutions for cardiovascular diseases, with its main product, Barostim, targeting the Autonomic Nervous System to treat heart failure.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 5:00 pm