Streetbeat News

Products Services

TGT

Investors have shown a predominantly bearish stance on Target (NYSE:TGT), with a significant volume of options trades indicating expectations for the stock's price to range between $150.0 and $185.0 over the next three months. The analysis of options trading activity, which is not typical for Target, reveals a split sentiment with 90% bearish and 9% bullish trades. This unusual trading pattern suggests that major investors might anticipate a specific event or have insights about Target's future performance. Target, being the nation's sixth-largest retailer, has a substantial market presence with over 1,950 stores and over $100 billion in sales. Despite the current neutral RSI indicators and a slight decrease in stock price, professional analysts have set an average price target of $200.0 for Target, with ratings ranging from Buy to In-Line.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 7:15 pm

AMZN

GOOG

RDDT

Needham analyst Laura Martin initiated coverage on Reddit Inc (NYSE:RDDT) with a Buy rating and a price target of $55, highlighting its value for AI training and brand strategy. Alphabet Inc's Google and potential AWS deals underscore Reddit's critical role in AI development. Martin emphasizes Reddit's unique data collection as a significant asset for LLM training and social listening, positioning it for growth in advertising and data licensing. Goldman Sachs analyst Eric Sheridan gave Reddit a Neutral rating with a $40 price target, noting its leverage in digital advertising, AI, and the creator economy.

Portfolio Pulse from Anusuya Lahiri

April 15, 2024 | 7:14 pm

AMZN

APPN

Appian has entered into a strategic collaboration with AWS to enhance end-to-end process automation by integrating Appian's AI and Data Fabric with Amazon Bedrock's large language models and Amazon Sagemaker's machine learning capabilities. This partnership aims to leverage generative AI for Appian's Data Fabric.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:02 pm

BLK

IBIT

BlackRock (NYSE:BLK), the world's largest asset manager, is expanding its crypto strategy, focusing on Bitcoin, stablecoins like USDC, and tokenized assets. It owns stakes in the iShares Bitcoin Trust (NASDAQ:IBIT), Circle (issuer of USDC), and Securitize (transfer agent for BUIDL). BlackRock is leveraging Bitcoin for its global accessibility, utility in transactions, and as an inflation hedge, with plans to include Ethereum and Solana in its offerings. The firm views blockchain as transformative for capital markets, potentially developing its own blockchain for recordkeeping.

Portfolio Pulse from Murtuza Merchant

April 15, 2024 | 6:53 pm

BSX

ITGR

JNJ

MDT

BofA Securities upgraded Integer Holdings Corporation (NYSE:ITGR) due to expected growth in the pulsed field ablation (PFA) market, forecasting PFA sales to increase from $100-200 million in 2023 to over $2 billion by 2025. Integer, a major medical device outsourcing manufacturer, supplies components for PFA devices made by Boston Scientific Corporation (NYSE:BSX), Medtronic Plc (NYSE:MDT), and Johnson & Johnson (NYSE:JNJ). The upgrade anticipates additional revenue for Integer and a stock price target increase from $105 to $135.

Portfolio Pulse from Vandana Singh

April 15, 2024 | 6:43 pm

PTON

Peloton has discontinued its unlimited free app membership, a strategy initially aimed at converting users into paid subscribers, according to a CNBC report. The move suggests the approach did not meet the company's expectations in boosting paid subscription numbers.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:30 pm

SONY

Sony Group Corp. (NYSE:SONY) is preparing for the launch of the PS5 Pro, a more powerful version of its PlayStation 5 console, by the end of 2024. The PS5 Pro, codenamed Trinity, features significant upgrades including enhanced ray tracing, a faster CPU at 3.85GHz, and improved system memory with a 28% increase in bandwidth. It will also introduce PlayStation Spectral Super Resolution (PSSR) technology for better frame rates and image quality. Developers are encouraged to optimize games for the PS5 Pro, which may carry a 'Trinity Enhanced' label.

Portfolio Pulse from Franca Quarneti

April 15, 2024 | 6:28 pm

CLSK

CleanSpark Inc (NASDAQ:CLSK) shares are trading higher despite a downturn in crypto markets, attributed to positive analyst coverage from HC Wainwright & Co. and exceeding operational hashrate goals. The broader crypto market, including Bitcoin, faces declines, with mining stocks volatile ahead of Bitcoin's halving event. CleanSpark's efficiency improvements and strategic purchases position it well for post-halving dynamics.

Portfolio Pulse from Adam Eckert

April 15, 2024 | 5:59 pm

ABBV

AbbVie (NYSE:ABBV) has seen a significant amount of options trading activity, with a bearish sentiment prevailing among investors. Analysis of 13 trades shows a split with 38% bullish and 61% bearish positions. The trading focused on a price range between $85.0 and $177.5. The largest trades include both puts and calls with varying sentiments and strike prices. AbbVie, a pharmaceutical company, has its stock currently up by 0.22% at $162.63. Analysts from Guggenheim and Barclays have issued buy and overweight ratings with target prices of $190 and $195, respectively.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 5:31 pm

BMY

Market whales have shown a predominantly bearish stance on Bristol-Myers Squibb (BMY), with 70% of recent options trades being bearish. Analysis of options trading for BMY reveals a focus on a price range between $44.0 and $55.0. Significant trades include both puts and calls, with a higher total trade price for puts. BMY's stock is currently up by 0.97% at $48.75, with an anticipated earnings release in 10 days. The company, a leader in immuno-oncology, derives 70% of its sales from the U.S.

Portfolio Pulse from Benzinga Insights

April 15, 2024 | 5:31 pm