Streetbeat News

Stock Prices

AMCR

SEE

Truist Securities analyst Michael Roxland has reiterated a Hold rating on Sealed Air Corporation (SEE), lowering the price target from $43 to $38. The analyst cites various headwinds in both the Food and Protective segments, increasing competition, particularly from Amcor Plc's (AMCR) acquisition of Moda, and a challenging US cattle cycle as reasons for the rating. Roxland also notes that SEE's ability to reduce debt in 2023 is limited due to a $175 million IRS tax settlement payment.

Portfolio Pulse from Nabaparna Bhattacharya

October 03, 2023 | 7:58 pm

AMD

NVDA

Analysts from Mizuho and KeyBanc have reiterated positive ratings on Advanced Micro Devices, Inc (AMD), citing potential growth in AI and data center market share. Mizuho analyst Vijay Rakesh maintains a Buy rating with a price target of $140, while KeyBanc analyst John Vinh has an Overweight rating with a price target of $160. Both analysts see AMD as well-positioned to capture market share with its MI300X in 2024, and anticipate strong revenue and EPS for 3Q, 4Q, and FY23.

Portfolio Pulse from Anusuya Lahiri

October 03, 2023 | 7:57 pm

DOW

LYB

WLK

KeyBanc Capital Markets analyst Aleksey Yefremov has upgraded Dow Inc. (DOW), Westlake Corp (WLK), and LyondellBasell Industries NV (LYB) to Sector Weight from Underweight, citing a 20% rise in crude oil prices over the last three months. The analyst sees lower downside risk for the stocks as higher naphtha costs force competitors in Asia and Europe to raise prices. However, the demand outlook for chemicals and earnings recovery is seen as gloomy, heading into a seasonally soft Q4.

Portfolio Pulse from Lekha Gupta

October 03, 2023 | 7:56 pm

BAH

B Of A Securities analyst Ronald J. Epstein upgraded Booz Allen Hamilton Holding Corp (NYSE:BAH) to Buy from Neutral, increasing the price target to $130 from $110. Epstein believes BAH's exposure to accelerating technologies and modernization initiatives will drive strong organic growth. He also notes that softer-than-expected acquisition activity will aid in redirecting capital for strong dividends and buybacks. BAH's exposure to rapidly growing government-wide acquisition of multi-billion-dollar contracts and AI are seen as significant tailwinds.

Portfolio Pulse from Lekha Gupta

October 03, 2023 | 7:52 pm

ORLY

O'Reilly Automotive's (NYSE:ORLY) short percent of float has risen 18.42% since its last report, with 1.07 million shares sold short, which is 1.8% of all regular shares available for trading. It would take traders 2.85 days to cover their short positions on average. The company has less short interest than most of its peers, with an average of 12.69%.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 7:45 pm

XEL

Xcel Energy's (NYSE:XEL) short percent of float has risen 27.27% since its last report, with 7.69 million shares sold short, which is 1.4% of all regular shares available for trading. It would take traders 1.58 days to cover their short positions on average. The company's short interest is less than its peer group average of 2.20%.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 7:45 pm

UNP

Union Pacific's (NYSE:UNP) short percent of float has risen 16.0% since its last report, with 5.32 million shares sold short, which is 0.87% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. Union Pacific's peer group average for short interest as a percentage of float is 1.04%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 7:45 pm

DWAC

ZG

The civil fraud case against Donald Trump and his businesses continues, with the valuation of Trump's Mar-a-Lago property being a key point of contention. Trump's lawyers argue the property is worth $1 billion, while an assessor valued it between $18 million and $27 million. The trial could run until Dec. 22, 2023, with New York Attorney General Letitia James seeking $250 million in penalties and a ban on Trump doing business in the state. Digital World Acquisition Corporation (NASDAQ:DWAC), which is merging with Trump Media & Technology Group, saw its shares rise 3%.

Portfolio Pulse from Chris Katje

October 03, 2023 | 7:38 pm

TAP

Molson Coors Beverage Company has announced a plan to accelerate its growth and provided a long-term financial outlook at its 2023 Strategy Day. The company's board has also authorized a $2B share repurchase program over the next five years.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 7:38 pm

MKUL

Trading of Molekule Group, Inc. shares is set to resume at 4:10 p.m. ET.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 7:32 pm