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SMG

Stifel analyst W. Andrew Carter has downgraded The Scotts Miracle-Gro Company (NYSE:SMG) to Hold from Buy, reducing the price target from $78 to $72. The downgrade is due to concerns about the company's consumer business and the absence of a planned June update. The analyst expects a high-single-digits decline in operating profit and a 100 basis points Y/Y decline in gross margin. However, significant earnings recovery is expected in FY25, growing 62% vs FY23.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 6:36 pm

CBAY

GNFT

GSK

ICPT

HC Wainwright has upgraded Intercept Pharmaceuticals Inc (NASDAQ:ICPT) to Buy from Sell, with a price target of $19, up from $8. The upgrade comes after strong interim Phase 2 data from its Ocaliva + bezafibrate combination. The analyst also notes that Intercept may continue to grow and significantly expand the PBC market along with CymaBay Therapeutics Inc's (NASDAQ:CBAY), GSK Plc's (NYSE:GSK), and, to a lesser extent, Ipsen/GENFIT.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 6:36 pm

URI

A whale investor has taken a bearish stance on United Rentals (NYSE:URI), with 90% of the spotted trades being bearish. The whale has been targeting a price range from $370.0 to $500.0 for United Rentals over the last 3 months. The price of URI is currently down -1.07% at $462.18. UBS and Keybanc have maintained their Buy and Overweight ratings on United Rentals respectively, while Morgan Stanley has downgraded its action to Equal-Weight.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 6:34 pm

VALE

A significant amount of unusual options activity has been detected for Vale (NYSE:VALE), with a majority of investors taking a bearish stance. Of the 12 strange trades detected, 58% were bearish and 41% bullish. The total amount for puts was $2,236,720 and for calls, $265,112. Whales have been targeting a price range from $13.0 to $17.0 for Vale over the last 3 months. The price of VALE is currently up 2.87% at $14.33.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 6:34 pm

TMO

Credit Suisse has upgraded Thermo Fisher Scientific Inc (NYSE:TMO) to Outperform from Neutral, with a price target of $620. The analyst cites the company's strong position to navigate post-pandemic demand correction, diversified portfolio, and growth prospects in services businesses. Despite potential downward revision of guidance, the analyst believes Thermo Fisher's long-term growth opportunities remain intact.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 6:33 pm

AMAT

DOCU

ENTG

LRCX

MRVL

NOW

NTNX

NVDA

OKTA

QCOM

SPLK

STM

TWLO

Technology, semiconductor, and software stocks are trading higher due to overall market strength following softer-than-expected June inflation data.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:32 pm

DDOG

Shares of Datadog (DDOG) are trading higher due to a rebound in cybersecurity stocks.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:30 pm

TJX

TJX Companies (NYSE:TJX) has outperformed the market over the past 15 years, producing an average annual return of 16.49%. If an investor had bought $1000 of TJX stock 15 years ago, it would be worth $9,667.14 today.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 6:30 pm

NEE

NextEra Energy (NYSE:NEE) has outperformed the market over the past 20 years by 4.03% on an annualized basis, producing an average annual return of 11.88%. If an investor had bought $100 of NEE stock 20 years ago, it would be worth $950.52 today.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 6:30 pm

IMAX

Imax Corp (NYSE:IMAX) plans to acquire 96.3 million shares in its Hong Kong-listed subsidiary, IMAX China, for around $124 million. The deal is expected to unlock annual public company cost savings of around $2 million and tax efficiencies. Analysts from Benchmark, Wedbush, and Rosenblatt maintain positive outlooks for IMAX, with price targets of $23, $26, and $27 respectively. IMAX expects significant growth in FY23, and analysts believe the company is well-positioned to benefit from the theatrical rebound in 2023.

Portfolio Pulse from Anusuya Lahiri

July 13, 2023 | 6:29 pm