Streetbeat News

Price Targets

C

Citigroup's stock is trading higher after Goldman Sachs maintained a Neutral rating but increased the price target from $47 to $52.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 8:07 pm

SSB

SouthState (NYSE:SSB) has received mixed analyst ratings over the past three months, with 1 somewhat bullish and 3 indifferent ratings. The average 12-month price target is $81.00, with a high of $93.00 and a low of $73.00. Analysts from Stephens & Co., Truist Securities, and Raymond James have provided recent evaluations, with price target adjustments reflecting their latest views on the company. SouthState's financial performance shows a negative revenue trend with a -1.65% decline, a strong net margin of 28.99%, but lower than average ROE and ROA, and a conservative debt-to-equity ratio of 0.07.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 8:00 pm

GPN

Global Payments (NYSE:GPN) has been the subject of diverse analyst opinions, with 12 analysts offering ratings ranging from bullish to bearish. The average 12-month price target is now $143.25, down from $162.67, with a high estimate of $180.00 and a low of $110.00. Recent actions include maintaining, lowering, and raising ratings and price targets. Global Payments operates in 30 countries and merged with Total System Services in 2019. Financial indicators show solid revenue growth but lag behind industry peers, with a net margin of 14.62%, ROE of 1.62%, ROA of 0.75%, and a debt-to-equity ratio of 0.77.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 8:00 pm

BRPHF

Mike Novogratz, CEO of Galaxy Digital Holdings Ltd (BRPHF), predicts a 'parabolic move' for Bitcoin (BTC) in 2024, driven by a potential spot Bitcoin ETF approval and a dovish Federal Reserve. Bitcoin is up 150% YTD, and Novogratz suggests that if institutions add even 1% exposure to Bitcoin, demand will outstrip supply, pushing prices higher. He compares Bitcoin's potential to gold, indicating a long-term target of $200,000 to $250,000 per Bitcoin.

Portfolio Pulse from Adam Eckert

December 19, 2023 | 7:59 pm

AMGN

BMO Capital Markets analyst Evan David Seigerman upgraded Amgen, Inc. (NASDAQ:AMGN) from Market Perform to Outperform and raised the price target from $286 to $326. The upgrade is based on Amgen's potential in the obesity metabolic space with its oral and injectable metabolic pipeline. Phase 1 and Phase 2 data for AMG 786 and AMG 133 are expected in 2024. The company is also anticipated to have other significant catalysts in 2024, including decisions and data on tarlatamab, tezepelumab, and rocatinlimab. Amgen's shares rose by 0.87% to $277.89 following the news.

Portfolio Pulse from Priya Nigam

December 19, 2023 | 7:42 pm

EQNR

RBC Capital Markets analyst Biraj Borkhataria downgraded Equinor ASA (NYSE:EQNR) to Sector Perform from Outperform and reduced the price target to NOK390 from NOK350. The downgrade is due to expectations of faster balance sheet re-leveraging and more modest distributions in 2024, amid a subdued macro outlook and a lower commodity price forecast. The analyst revised the oil price deck down to $82.5/bbl for Brent in 2024 and anticipates negative earnings revisions for Equinor. Shareholder distributions are expected to decrease, with a projected $13.3 billion in 2024, including a smaller special dividend and a reduced share buyback program. EBIT estimates for FY24 and FY25 are both around 10% below consensus. Equinor's shares dropped by 0.49% to $31.56.

Portfolio Pulse from Lekha Gupta

December 19, 2023 | 7:32 pm

CGEN

Stifel analyst Stephen Willey has maintained a Buy rating on Compugen (NASDAQ:CGEN) and increased the price target from $3 to $4.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 7:31 pm

OSK

Oshkosh (NYSE:OSK) has received 4 analyst ratings in the last three months with a mix of bullish and indifferent sentiments. The average 12-month price target is $115.25, up from $112.50, with a high of $122.00 and a low of $104.00. Analysts from Stifel, Evercore ISI Group, JP Morgan, and Citigroup have adjusted their ratings and price targets, reflecting their views on the company's market position and recent performance. Oshkosh is a leading manufacturer of access equipment, specialty vehicles, and military trucks, with a focus on the electrification of U.S. postal vehicles. The company's financial performance shows strong revenue growth and net margin, but a below-average return on equity.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 7:01 pm

MS

Morgan Stanley (NYSE:MS) has been analyzed by 12 analysts in the last three months, showing a mix of bullish to bearish sentiments. The average 12-month price target is now $92.43, down 7.46% from the previous $99.88. Analysts have made various rating changes and price target adjustments, with some raising and others lowering their expectations. Morgan Stanley's financial performance includes a market capitalization above industry average, a 2.3% revenue growth rate, a high net margin of 18.22%, and an ROE of 2.48%, but a lower-than-average ROA of 0.19% and a high debt-to-equity ratio of 2.84.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 7:00 pm

VTNR

Stifel analyst Michael E. Hoffman downgraded Vertex Energy Inc (VTNR) to Hold from Buy and lowered the price target to $4 from $6 due to challenges in the refining industry. The downgrade reflects concerns over falling conventional refining selling prices and crack spreads, leading to breakeven or modest profits. The analyst also adjusted revenue and EBITDA estimates downward for FY23 and FY24, citing volatility in refining profits, depressed D4 RIN prices, and increased RD feedstock costs. VTNR shares dropped 4.53% to $3.4750 following the news.

Portfolio Pulse from Lekha Gupta

December 19, 2023 | 6:56 pm