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PLUG

Evercore has reportedly issued a note stating that Plug Power has secured an order marking the largest announced project in the oil and gas sector in Europe. Evercore maintains an 'Outperform' rating on Plug Power and a price target of $37.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 2:43 pm

DDD

DM

NNDM

SSYS

Stratasys Ltd. (SSYS) shares are trading higher by over 12% after receiving an enhanced proposal from 3D Systems Corp (DDD). The revised offer is 15% better than the previous one, representing a value per Stratasys share of $24.07. The offer implies a total value of about $2 billion, including cost synergies of $100 million. This would result in SSYS shareholders owning ~44% of the combined company and receiving around $540 million in cash. DDD has delivered a signed merger agreement in escrow to SSYS and commits to paying the termination fees to Desktop Metal, Inc (DM).

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 2:43 pm

ATAT

GHG

HLT

HTHT

GreenTree Hospitality Group Ltd. (NYSE:GHG) reported a 17% increase in revenue from its organic hotel business in Q1, with its revpar rising by 25%. The company also completed the acquisition of two restaurant chains, which are expected to contribute significantly to its revenue. The company's shares rose by 3.6% following the announcement and have increased by nearly 60% this year. GreenTree's revenue and profit are expected to rise by about 67% this year, compared to 58% growth forecast for Atour (NASDAQ:ATAT), 43% for H World Group (NASDAQ:HTHT) and 13% for Hilton Worldwide (NYSE:HLT).

Portfolio Pulse from The Bamboo Works

July 13, 2023 | 2:39 pm

PLUG

Plug Power Inc (NASDAQ:PLUG) shares are trading higher after the company announced securing a new electrolyzer deal for a green hydrogen project in Europe. The electrolyzers, to be delivered in 2024, will generate approximately 43 tons of green hydrogen per day and eliminate about 516 tons of carbon dioxide daily. Earlier, Plug was selected to supply two five-megawatt PEM electrolyzer systems for green hydrogen projects in Australia. RBC Capital analyst Chris Dendrinos reiterated Plug Power with an Outperform rating and maintained a $12 price target.

Portfolio Pulse from Adam Eckert

July 13, 2023 | 2:38 pm

CRWD

CrowdStrike's stock is trading higher following JMP's reiteration of a bullish rating on the stock.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 2:37 pm

MA

Mastercard's stock price has reached a new high, breaking through the $400 mark. The stock has seen a consistently bullish trajectory since its public trading debut in 2006, climbing over 9000%. Despite a period of consolidation and loss of momentum in 2022, a recent surge has led to a significant recovery. However, the stock has yet to close above its previous all-time high and there is a potential risk of a false breakout.

Portfolio Pulse from Zaheer Anwari

July 13, 2023 | 2:35 pm

PPC

Pilgrim's Pride shares are trading higher following an upgrade from BMO Capital. The firm upgraded the stock from Market Perform to Outperform and raised its price target from $26 to $28.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 2:34 pm

LSDI

Lucy Scientific Discovery Inc (NASDAQ:LSDI) shares are trading higher after the company completed its acquisition of Wesana Health's SANA-013 assets, which are being developed for the treatment of mental health and central nervous system conditions. The company also announced the formation of Lucy Discoveries Holdings for psychedelic medicine research and development. Additionally, Lucy Scientific appointed Richard Nanula as CEO and unveiled a new sleep aid product called Twilight.

Portfolio Pulse from Adam Eckert

July 13, 2023 | 2:32 pm

PGR

Progressive Corp's Q2 results missed analyst consensus, causing its shares to drop by over 6%. The company reported a 19% Y/Y increase in Q2 net premiums to $14.46 billion, missing the consensus estimate of $14.98 billion. Adjusted EPS of $0.40 also missed the analyst consensus estimate of $0.87. The company also witnessed unfavorable prior accident year reserve development of $137.8 million in June.

Portfolio Pulse from Lekha Gupta

July 13, 2023 | 2:31 pm

LULU

Lululemon Athletica (NASDAQ:LULU) has outperformed the market over the past 15 years, producing an average annual return of 24.51%. If an investor had bought $1000 of LULU stock 15 years ago, it would be worth $27,207.80 today.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 2:31 pm