Streetbeat News

Price Targets

RNA

Needham analyst Joseph Stringer has reiterated a Buy rating on Avidity Biosciences (NASDAQ:RNA) and maintained a $35 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 9:30 am

BTCUSD

Standard Chartered predicts Bitcoin (BTC) will reach $100,000 by late 2024, citing factors such as Bitcoin's market dominance, miner accumulation, and potential approval of Bitcoin spot ETFs in the U.S. The bank's forecast is also influenced by the expectation of diminishing Treasury yields, which could drive investors towards cryptocurrencies as long-term trades. The upcoming Bitcoin halving event in April is expected to reduce new supply and historically has led to a price peak within 12-18 months.

Portfolio Pulse from Benzinga Neuro

November 29, 2023 | 8:14 am

AAPL

BRK

Charles 'Charlie' Munger, Warren Buffett's partner at Berkshire Hathaway, has passed away at 99. Buffett praised Munger's role in building Berkshire Hathaway. Munger was vice chairman and a major shareholder, with holdings worth $2.1 billion. Under their leadership, Berkshire Hathaway outperformed the S&P 500 with an average annual gain of 20.1% from 1965 to 2021. Munger's investment strategies, including the 'Lollapalooza effect' and focus on great companies at decent prices, were highlighted, with Apple Inc. being a notable investment. The investment community mourns his loss, recognizing his contributions to finance and investing.

Portfolio Pulse from Piero Cingari

November 28, 2023 | 10:58 pm

F

GM

LCID

RACE

RIVN

TSLA

BofA Global Research analysts predict significant growth for General Motors Co (GM) with a 165% stock upside and a price target of $75. The optimism is based on GM's well-managed core business and potential in autonomous electric vehicle fleets. Risks include a downturn in U.S. auto sales and rising input costs, among others. Upside risks involve U.S. auto cycle strength and growth in China. Other automakers' stocks like Rivian (RIVN), Ford (F), Lucid (LCID), Ferrari (RACE), and Tesla (TSLA) also have upside potential, but less compared to GM.

Portfolio Pulse from Surbhi Jain

November 28, 2023 | 8:24 pm

CRNC

Cerence (NASDAQ:CRNC) has received mixed analyst ratings in the last quarter, with 2 bullish, 1 somewhat bullish, and 1 indifferent rating. The average 12-month price target for Cerence is $23.0, with a high of $25.00 and a low of $19.00. This target represents a 31.85% decrease from the previous target of $33.75. Analysts determine ratings by forecasting a company's future earnings and considering the predictability of its revenue streams.

Portfolio Pulse from Benzinga Insights

November 28, 2023 | 8:00 pm

REGN

Jefferies analyst Akash Tewari has maintained a Buy rating on Regeneron Pharmaceuticals (NASDAQ:REGN) and increased the price target from $935 to $937.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 7:25 pm

LC

Piper Sandler analyst Brad Capuzzi initiated coverage on LendingClub Corporation (NYSE:LC) with an Overweight rating and a $8 price target, citing potential earnings growth due to higher net interest margins in 2024. The growth is expected from lower funding costs, cost reductions, and moderating net charge-offs. LC's undervaluation at 0.55x P/TBV and an estimated 10% ROTCE presents a significant upside, with the possibility of further improvement through a share repurchase program and reinvestment into higher-yielding assets. Capuzzi forecasts a 40 bps NIM expansion through 2024-2025 and a 110 bps ROA expansion in 2025. FY23 revenues are expected to be $861 million with EPS of $0.31. LC shares rose 10% to $6.14.

Portfolio Pulse from Nabaparna Bhattacharya

November 28, 2023 | 7:17 pm

CRNC

Craig-Hallum analyst Jeff Van Rhee has maintained a Buy rating on Cerence (NASDAQ:CRNC) but has reduced the price target from $38 to $25.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 7:08 pm

MAA

Mid-America Apartment (NYSE:MAA) received 7 analyst ratings in the last quarter with 1 bullish, 5 indifferent, and 1 somewhat bearish. The average price target is $137.5, representing an implied upside from the current price of $122.22. This target has decreased by 13.18% from the previous target of $158.38. Analysts rate stocks typically once a quarter and provide insights such as earnings, revenue, and growth estimates.

Portfolio Pulse from Benzinga Insights

November 28, 2023 | 7:00 pm

TTD

Over the past 3 months, 11 Wall Street analysts have published their opinions on Trade Desk (NASDAQ:TTD), with 5 giving a bullish and 6 a somewhat bullish rating. The average 12-month price target among these analysts is $85.91, with a high of $100.00 and a low of $70.00. This average price target represents a 14.09% decrease from the previous target of $100.00. Analysts typically review stocks quarterly or after major company updates, and their ratings are based on financial predictions and company risk assessments.

Portfolio Pulse from Benzinga Insights

November 28, 2023 | 7:00 pm