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DWAC

SPY

Former U.S. President Trump has announced his intention to appeal the trial date given in a federal election case, according to a report by Reuters citing Truth Social. The news may have implications for Digital World Acquisition Corp. (DWAC) and SPDR S&P 500 ETF Trust (SPY).

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 6:42 pm

ESE

Stephens analyst Tommy Moll has reiterated an Overweight rating on ESCO Technologies Inc (NYSE:ESE) with a price target of $120. Moll considers ESE an underappreciated global provider of engineered products for mission-critical applications. He is optimistic about the company's high-quality portfolio and its potential for double-digit organic earnings growth. Moll also expects ESE to deploy debt in acquiring businesses over time, with attractive growth prospects in adjacent markets.

Portfolio Pulse from Nabaparna Bhattacharya

August 28, 2023 | 6:39 pm

NXGN

Cantor Fitzgerald has initiated coverage on NextGen Healthcare Inc (NASDAQ:NXGN) with a price target of $21 and an Overweight rating. The company is exploring strategic options, including a potential sale, and has hired Morgan Stanley as an advisor. NextGen's health data platform, MirthConnect, is integrated into a third of all US Health Information Exchanges and extended across 39 nations. The company is on track to meet its three-year plan to sell an extra $100 million in products to current clients.

Portfolio Pulse from Vandana Singh

August 28, 2023 | 6:37 pm

CHD

Truist Securities analyst Bill Chappell has upgraded Church & Dwight Company, Inc. (NYSE:CHD) from Hold to Buy with an increased price target from $95 to $105. The upgrade is based on CHD's strong Q2 results and increased guidance above the Street for the second time this year. Chappell believes CHD is 'largely out of the woods' from the post-pandemic reversion and sees further upside to margin and EPS estimates.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 6:32 pm

AKBA

HC Wainwright has upgraded Akebia Therapeutics Inc (NASDAQ:AKBA) from Neutral to Buy rating. The company expects to resubmit its New Drug Application for vadadustat, a drug for anemia due to chronic kidney disease, by the end of Q3 2023. The resubmission includes additional safety data and new data from two alternate dosing studies. Analysts are highly confident in the FDA approval of vadadustat early next year. AKBA shares are up 23.9%.

Portfolio Pulse from Vandana Singh

August 28, 2023 | 6:31 pm

CIEN

Needham analyst Alex Henderson has reiterated a Buy rating on Ciena Corporation (NYSE:CIEN), but lowered the price target from $60 to $50. Ciena's short-term growth has been hampered by service provider inventory corrections and delivery schedule changes. However, Henderson believes that Ciena's long-term growth prospects outweigh these short-term issues, with strong demand, share gains, and a normalized supply chain setting the company up for 8%-10% growth. The analyst also lowered FY23 and FY24 EPS and revenue guidance.

Portfolio Pulse from Nabaparna Bhattacharya

August 28, 2023 | 6:27 pm

PTON

Peloton Interactive Inc's shares have fallen by 19% over the past five sessions due to mixed Q4 results and a decline in Connected Fitness subscribers. The company also issued a soft Q1 revenue guidance. Peloton reported a 5% YoY sales decline in Q4 FY23 to $642.1 million, beating the consensus of $639.9 million. However, EPS loss was $(0.68), missing the consensus loss of $(0.38). The total number of members fell 5% YoY to 6.5 million.

Portfolio Pulse from Henry Khederian

August 28, 2023 | 6:25 pm

DASH

UBER

DoorDash, Inc (NYSE:DASH) is introducing AI-driven voice ordering to its platform to optimize restaurant support and boost sales. This comes after Uber Technologies, Inc (NYSE:UBER) integrated AI into the voice-ordering feature of Uber Eats. DoorDash currently holds 65% of food-delivery sales in the U.S.

Portfolio Pulse from Anusuya Lahiri

August 28, 2023 | 6:18 pm

NVO

The Danish Health Ministry has suggested that reimbursing Novo Nordisk's weight-loss drug, Wegovy, could cost the state up to $4 billion annually. Wegovy is a popular medication for weight loss and also shows cardiovascular benefits. The calculation is based on the cost of Wegovy for approximately 900,000 Danes with a Body Mass Index surpassing 30. The increasing costs of healthcare and the advent of new medications like Wegovy highlight the financial challenges public healthcare systems face.

Portfolio Pulse from Vandana Singh

August 28, 2023 | 6:18 pm

COST

Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Costco Wholesale Corporation (NASDAQ:COST) with a price target of $575. Feldman forecasts a total comparable sales of 2.4% versus 10.1% last year and a digital sales increase of 5.0% versus 3.9% last year. He expects Costco to continue generating high-single-digit to low-double-digit EPS growth in FY23 and FY24.

Portfolio Pulse from Shivani Kumaresan

August 28, 2023 | 6:14 pm