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Revenues

SPY

Treasury Secretary Janet Yellen expressed optimism about reaching a top-line spending agreement to avoid a government shutdown. President Biden aims to extend tax cuts for Americans earning under $400,000 and is looking for ways to increase revenues.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 8:36 pm

BXP

CCI

VNQ

VNQI

U.S. office space vacancies have reached their highest levels since 1979, with nearly 20% unleased in major cities by Q4 2023. The rise is attributed to overbuilding in the past and the shift to home and hybrid work models post-COVID-19. Texas cities like Houston, Dallas, and Austin face the highest vacancy rates, impacting local REITs such as Crown Castle Inc (CCI), which saw a 15.5% decline in 2023. Conversely, Boston Properties, Inc (BXP) in areas with lower vacancies saw a 5.3% increase. The article also compares U.S.-based REITs, like those in the Vanguard Real Estate Index Fund ETF (VNQ), which rose 6.2%, to the Vanguard Global ex-U.S. Real Estate Index Fund ETF (VNQI), with a smaller gain of 1.2%, reflecting challenges in the global market, particularly in China.

Portfolio Pulse from Neil Dennis

January 08, 2024 | 8:09 pm

FLNG

Flex LNG Ltd. (FLNG) has been informed that the charterer of Flex Constellation will not extend their charter option. The ship was on a three-year Time Charter since May 17, 2021, with an extension option of up to three years. Flex LNG expects to take redelivery of the ship in Q2 2024. The current charter rate is $80,000 per day, but market rates for new charters are quoted at $90-100,000 per day. The company plans to market the ship for new opportunities after a special survey, highlighting its environmentally friendly features in line with the Global Methane Pledge.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 8:02 pm

OSK

Analysts have mixed opinions on Oshkosh (NYSE:OSK), with recent ratings ranging from bullish to bearish. The average 12-month price target is $112.6, with a high of $122 and a low of $102. Analysts from Morgan Stanley, Stifel, Evercore ISI Group, JP Morgan, and Citigroup have updated their ratings and price targets. Oshkosh is a leading producer 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 lower ROE compared to industry averages.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 8:01 pm

BEN

Franklin Resources (NYSE:BEN) received mixed analyst ratings in the latest quarter, with 3 indifferent and 1 somewhat bearish. The average 12-month price target is now $27.0, up from $24.33. Analysts from Wells Fargo, TD Cowen, Morgan Stanley, and Deutsche Bank have adjusted their price targets and ratings. Franklin had $1.335 trillion in managed assets as of October 2023. The company's financial performance shows below industry average market capitalization, revenue growth, net margin, ROE, and ROA, but a conservative debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 8:00 pm

KMT

Four analysts have recently updated their ratings on Kennametal (NYSE:KMT), with two maintaining an indifferent stance, one somewhat bearish, and one bearish. The average 12-month price target for KMT is now $24.75, down from the previous $28.00. Analysts from Morgan Stanley, Barclays, Goldman Sachs, and JP Morgan have adjusted their price targets and ratings, reflecting a cautious to negative outlook on the company's performance. Kennametal's financial indicators show a negative revenue trend, below-average net margin, ROE, and ROA, but a conservative debt management approach.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 8:00 pm

APLS

Apellis Pharmaceuticals shares are trading higher following the announcement of preliminary Q4 and full year 2023 U.S. net product revenues, indicating positive financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:40 pm

ABSI

Absci (NASDAQ:ABSI) has received mixed analyst ratings over the past three months, with 4 analysts offering diverse views ranging from bullish to bearish. The average 12-month price target is $4.75, up from the previous $3.50, with a high estimate of $7.00 and a low of $3.00. Analysts from HC Wainwright & Co. and Keybanc have raised their price targets, reflecting a positive outlook on the company's performance. Despite a significant market capitalization, Absci faces revenue challenges with a -68.59% decline over 3 months. However, the company has a high net margin of -2956.18%, an ROE of -10.68%, and an ROA of -8.97%, with a low debt-to-equity ratio of 0.09.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 7:01 pm

IRTC

iRhythm Technologies (NASDAQ:IRTC) has been analyzed by 6 analysts, showing a range of opinions from bullish to bearish. The average 12-month price target is $122.83, with a high of $136.00 and a low of $108.00, indicating a slight increase from the previous average of $122.40. Analysts from firms including Needham, Truist Securities, Citigroup, and Morgan Stanley have updated their ratings and price targets, reflecting their views on the company's performance and market conditions. iRhythm Technologies, a digital healthcare company, has seen a revenue growth of 19.96% as of September 30, 2023, but faces challenges with below-average net margin, ROE, and ROA, despite a conservative debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 7:01 pm

VTLE

Analysts have mixed views on Vital Energy (NYSE:VTLE), with recent ratings ranging from bullish to bearish. Over the last quarter, the total ratings included 4 bullish, 2 somewhat bullish, 1 indifferent, and 1 somewhat bearish. The average 12-month price target is now $62.75, down from $76.75, indicating an 18.24% decrease. Analysts from firms like Raymond James, Truist Securities, and others have adjusted their ratings and price targets, reflecting changes in market dynamics and company performance. Vital Energy, an independent energy company operating in the Permian Basin, has seen a -6.16% decline in revenue growth and has financial metrics below industry averages, including a net margin of 1.12% and an ROE of 0.29%.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 7:00 pm