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PARA

Redburn Atlantic analyst Hamilton Faber has downgraded Paramount Global (NASDAQ:PARA) from Neutral to Sell and set a price target of $11.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:45 pm

ALB

CHWY

CRM

EOG

FANG

JNPR

LAAC

LYFT

WTW

Wall Street analysts have updated their price targets and ratings for several companies. Keybanc reduced EOG Resources' target but maintained an Overweight rating. BMO Capital raised Southern Company's target and upgraded to Outperform. Baird increased Salesforce's target and upgraded to Outperform. Barclays raised Chewy's target and upgraded to Overweight, predicting over 50% rally. Wells Fargo lifted Willis Towers Watson's target and upgraded to Overweight. Deutsche Bank lowered Albemarle's target and downgraded to Hold. Jefferies raised Juniper Networks' target but downgraded to Hold. Goldman Sachs upped Lyft's target but downgraded to Neutral. Keybanc cut Diamondback Energy's target but kept an Overweight rating. Deutsche Bank reduced Lithium Americas' target and downgraded to Hold.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 12:45 pm

WPC

W. P. Carey Inc. has sold a portfolio of 70 office properties that are net leased to the State of Andalusia for approximately $359 million. This transaction is significant as it involves a large number of properties and a substantial amount of money.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:40 pm

WBD

Redburn Atlantic analyst Hamilton Faber has downgraded Warner Bros. Discovery (NASDAQ:WBD) from Buy to Neutral and set a price target of $11.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:40 pm

TRI

VERX

Thomson Reuters Corp (NYSE:TRI) has made a public tender offer to acquire Pagero Group AB for approximately $627 million, outbidding Vertex Inc's (NASDAQ:VERX) previous offer. The offer is at a premium compared to Pagero's recent share prices on Nasdaq First North. The acquisition is subject to over 90% shareholder acceptance, with the period starting around January 12, 2024, and ending around February 9, 2024. TRI's CEO sees strategic and cultural fit with Pagero, and the company's independent bid committee recommends accepting TRI's offer over Vertex's.

Portfolio Pulse from Lekha Gupta

January 11, 2024 | 12:39 pm

EXPD

Exane BNP Paribas analyst Robert Joynson downgraded Expeditors International (EXPD) from Neutral to Underperform and set a price target of $116.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:36 pm

SHFS

SHF Holdings (SHFS) has regained compliance with Nasdaq's Listing Rule 5550(a)(2) according to a statement on January 5, 2024. The company had previously been out of compliance with the rule, which could have led to delisting from the Nasdaq exchange if not addressed.

Portfolio Pulse from Charles Gross

January 11, 2024 | 12:35 pm

B of A Securities analyst Miranda Zhuang has downgraded Weibo (NASDAQ:WB) from Buy to Underperform and set a new price target of $10.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:29 pm

INFY

SPY

Infosys Ltd (NYSE: INFY) reported a slight 0.1% Y/Y revenue increase in Q3 to $4.66 billion, surpassing consensus estimates. Despite a 1.0% Y/Y and Q/Q decline in constant currency terms, the company achieved a significant deal win TCV of $3.2 billion. Operating margin fell by 100 bps to 20.5%, and EPS met expectations at $0.18, down from $0.19 the previous year. Infosys holds $2.6 billion in cash and equivalents and generated $665 million in free cash flow, up 15.5% Y/Y. CEO Salil Parekh highlighted strong large deal wins and the use of Infosys' generative AI and cloud capabilities. The company adjusted its FY24 revenue growth outlook to 1.5%-2.0% in constant currency, slightly narrowing the previous range of 1.0%-2.5%. Infosys shares rose 1.60% in premarket trading to $18.39, outperforming the SPDR S&P 500 ETF (NYSE: SPY), which gained 8% in the same period.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 12:28 pm

LYFT

Goldman Sachs analyst Eric Sheridan has downgraded Lyft (NASDAQ:LYFT) from Buy to Neutral while increasing the price target from $12 to $15.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:24 pm