Streetbeat News

Price Targets

CDNS

A whale investor has taken a bearish stance on Cadence Design Sys (NASDAQ:CDNS), with 63% of detected trades having bearish expectations. Whales have been targeting a price range of $200 to $250 for CDNS over the last 3 months. Wells Fargo maintains an Overweight rating on the stock with a price target of $250.

Portfolio Pulse from Benzinga Insights

June 22, 2023 | 8:16 pm

NPO

KeyBanc analyst Jeffrey D. Hammond reiterated an Overweight rating on EnPro Industries Inc (NYSE:NPO) and raised the price target to $145 from $135. The analyst praised NPO's effective cost management and growth strategy, particularly in the AST segment, and expects the company to benefit from solid earnings momentum in 2024.

Portfolio Pulse from Nabaparna Bhattacharya

June 22, 2023 | 7:40 pm

NDSN

KeyBanc analyst Jeffrey D. Hammond reiterated an Overweight rating on Nordson Corporation (NASDAQ:NDSN) and raised the price target to $270 from $255. Nordson's multiple expansionary moves, strong balance sheet, and attractive risk/reward profile are expected to propel earnings momentum into 2024.

Portfolio Pulse from Nabaparna Bhattacharya

June 22, 2023 | 7:20 pm

CDMO

Avid Bioservices reported Q4 revenue of $39.8 million, a 28% Y/Y increase, beating the consensus of $38.90 million. However, the company forecasts FY24 sales of $145 million-$165 million, below the consensus of $181.27 million. Stephens reiterated its Overweight rating but lowered its price target to $20 from $24.

Portfolio Pulse from Vandana Singh

June 22, 2023 | 7:15 pm

BA

Susquehanna analyst Charles P. Minervino reiterated a positive rating on Boeing (NYSE:BA) with a price target of $260, citing strong demand for fuel-efficient 737 aircraft and long-term growth potential. However, he also mentioned delays in defense contracts and margin risk affecting the Defense, Space & Security segment.

Portfolio Pulse from Nabaparna Bhattacharya

June 22, 2023 | 7:04 pm

LLY

NVO

NVS

TERN

Mizuho initiated coverage on Terns Pharmaceuticals with a Buy rating and a price target of $16, implying a 35% upside. The analyst believes TERN-501 for NASH is the company's most de-risked asset and main driver of valuation. TERN-601 for obesity is considered Terns' hottest asset, while TERN-701 for chronic myeloid leukemia is the most underappreciated.

Portfolio Pulse from Vandana Singh

June 22, 2023 | 6:54 pm

KBH

Credit Suisse analyst Daniel Oppenheim has reiterated a Neutral rating on KB Home (NYSE:KBH) and raised the price target from $42 to $51. The analyst increased the FY23 EPS estimate to $6.60 and FY24 EPS estimate to $5.95 due to higher orders and stronger closings. Over 13,000 closings are expected in 2023, with key upside risk being a sharp reduction in mortgage rates and improved affordability.

Portfolio Pulse from Shivani Kumaresan

June 22, 2023 | 6:43 pm

DLTR

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Dollar Tree Inc (NASDAQ:DLTR) with a price target of $162. The company's strategic plan includes opening new stores, enhancing merchandising, and modernizing its IT infrastructure, which is expected to result in annual EPS growth of mid-to-high teens, reaching 2026 EPS of $10+.

Portfolio Pulse from Shivani Kumaresan

June 22, 2023 | 6:40 pm

EXAS

Exact Sciences Corporation (NASDAQ:EXAS) is poised to dominate the emerging precision oncology market, with a potential $18 billion market. Analysts reiterate Buy ratings and raise price targets, as the company's Cologuard test shows promising results and management remains confident in future growth prospects.

Portfolio Pulse from Nabaparna Bhattacharya

June 22, 2023 | 6:38 pm

SM

Susquehanna analyst Biju Perincheril reiterated a Neutral rating on SM Energy Company (NYSE:SM) and raised the price target to $32 from $30. The company is expected to benefit from Austin Chalk exploration results, increased capital return, and improved operating costs. SM Energy recently added 20,000 acres in the Northern Midland Basin, targeting the Dean and Middle Spraberry sand intervals.

Portfolio Pulse from Nabaparna Bhattacharya

June 22, 2023 | 6:04 pm