Streetbeat News

Price Targets

SPY

Goldman Sachs' chief equity strategist, David Kostin, has raised the S&P 500 year-end target for 2024 to 5,100, up from 4,700, a 7% increase from its current level. This revision is based on expectations of Federal Reserve rate cuts and a global disinflation trend. Goldman Sachs projects rate cuts in March, May, and June of the upcoming year, with a policy rate between 4.0% and 4.25% by year-end. The bank also forecasts a 5% year-over-year earnings growth for the S&P 500, with an EPS estimate of $237, above the median Wall Street estimate of $230. The SPDR S&P 500 ETF Trust (NYSE:SPY) reflects the current performance of the S&P 500.

Portfolio Pulse from Piero Cingari

December 18, 2023 | 4:18 pm

LUV

Citigroup analyst Stephen Trent has maintained a Neutral rating on Southwest Airlines (NYSE:LUV) and increased the price target from $25 to $30.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 4:09 pm

KD

JP Morgan analyst Tien-Tsin Huang has upgraded Kyndryl Holdings (NYSE:KD) from Neutral to Overweight and increased the price target from $20 to $25.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 4:09 pm

HOG

Citigroup analyst James Hardiman has maintained a Neutral rating on Harley-Davidson (NYSE:HOG) and increased the price target from $33 to $36. This adjustment reflects Citigroup's updated valuation of the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 4:07 pm

BKU

BankUnited (NYSE:BKU) has been rated by 4 analysts in the past quarter, with 3 indifferent and 1 bearish ratings. The average 12-month price target is $26.25, down 7.89% from the previous $28.50. Analysts from Goldman Sachs, Wells Fargo, and JP Morgan have adjusted their price targets and ratings, reflecting their views on the company's market conditions and performance. BankUnited is a regional bank with a focus on small to middle-market businesses, primarily in Florida and New York City. The company has seen a revenue decline of -6.31% and faces challenges in profitability and financial performance, with a net margin of 19.08%, ROE of 1.83%, ROA of 0.13%, and a high debt-to-equity ratio of 2.33.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 4:01 pm

DG

Dollar General (NYSE:DG) has been evaluated by 25 financial analysts in the last quarter, with the majority being indifferent (19 ratings). The average 12-month price target for DG is $123.12, with a high estimate of $150.00 and a low estimate of $102.00. The current average price target represents a 6.8% decrease from the previous average of $132.11. Analysts have taken various actions, with some raising, maintaining, or lowering their price targets and ratings. Dollar General operates a large chain of convenience stores and has shown a revenue growth rate of 2.42% as of October 31, 2023. However, its ROE and ROA are below industry benchmarks, and it has a high debt-to-equity ratio of 2.8.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 4:00 pm

APP

AppLovin (NASDAQ:APP) received 10 analyst ratings in the past quarter, with an average 12-month price target of $48.92, up 16.48% from the previous $42.00. The ratings include 6 bullish, 1 somewhat bullish, 2 indifferent, and 1 bearish. Notable analysts from firms like HSBC, UBS, Goldman Sachs, Stifel, Benchmark, Wedbush, Morgan Stanley, and BTIG have adjusted their price targets and ratings, reflecting a generally positive outlook on the company's performance, including its revenue growth of 21.2% as of September 30, 2023, and a net margin of 12.48%. However, concerns are raised due to its high debt-to-equity ratio of 2.91.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 4:00 pm

NFLX

Netflix's stock (NFLX) is experiencing an uptick following Morgan Stanley's decision to increase its price target for the shares from $475 to $550.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 3:58 pm

XENE

Stifel analyst Stephen Willey has reaffirmed a Buy rating on Xenon Pharmaceuticals (NASDAQ:XENE) and increased the price target from $53 to $62, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 3:57 pm

VTYX

Stifel analyst Alex Thompson has maintained a Hold rating on Ventyx Biosciences (NASDAQ:VTYX) but has reduced the price target from $6 to $2.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 3:55 pm