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COIN

CRPT

FDIG

JMP analyst Devin Ryan maintained a Market Outperform rating on Coinbase Global, Inc (NASDAQ:COIN) with a $300 price target, highlighting its diverse growth from trading volumes to blockchain innovations. Coinbase's Q1 2024 spot-trading volumes saw a significant increase, and its derivatives platform and Layer 2 blockchain, Base, are rapidly growing. Partnerships, like with BlackRock, and the potential for spot Bitcoin ETFs are seen as major catalysts. Investors can also gain exposure through ETFs like CRPT and FDIG.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 3:59 pm

BTG

CGAU

GDX

GOLD

NEM

Gold prices surged to over $2,200 per ounce, influenced by the Federal Reserve's indication of interest rate cuts, leading to a 30% rally in several gold mining stocks. Bank of America analysts favor gold as a trade for 2024, citing its hedge status, central bank accumulations, and potential ETF investor increases. Despite gold's rise, some mining stocks like the VanEck Gold Miners ETF (GDX) lag behind. Bank of America identifies undervalued stocks such as Centerra Gold Inc. (CGAU), B2Gold Corp. (BTG), Barrick Gold Corp. (GOLD), and Newmont Corp. (NEM), recommending stocks with high upside beta ratios.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 3:56 pm

OKYO

OKYO Pharma Limited (NASDAQ:OKYO) announced positive results from a Phase 2 trial of OK-101 for dry eye disease, showing significant improvements in ocular pain, Tear Film Break-Up Time, and other symptoms. The results support moving to Phase 3 development. Despite these positive findings, OKYO shares dropped 10.01% to $1.58.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 3:53 pm

CUTR

Cutera, Inc. (NASDAQ:CUTR) shares plummeted after reporting Q4 results with a wider loss per share of $(1.36) compared to analyst estimates of a loss of 94 cents. Despite beating revenue expectations with $49.5 million, the company saw a significant decline in capital equipment systems and recurring revenue sources. Non-GAAP gross profit and margin drastically decreased, affected by a non-cash expense for excess and obsolete inventory. The company forecasts 2024 annual revenue between $160 million to $170 million, slightly below the estimate of $168.26 million. CUTR shares dropped 28.2% to $1.65.

Portfolio Pulse from Nabaparna Bhattacharya

March 22, 2024 | 3:50 pm

NKE

Nike Inc (NYSE:NKE) reported Q3 results that exceeded expectations but announced a low single-digit revenue decline for the first half of fiscal 2025, leading to a bearish outlook. The stock has been underperforming, down 26% over the past year and 14.3% year-to-date. Technical indicators such as MACD, RSI, and Bollinger Bands signal a strong downward trend and selling pressure. Despite surpassing Q3 expectations, the revised revenue projections have negatively impacted investor sentiment.

Portfolio Pulse from Surbhi Jain

March 22, 2024 | 3:48 pm

C

Analysis of Citigroup's (NYSE:C) options trading reveals a bearish sentiment among financial giants, with 56% showing bearish tendencies and a focus on a price band between $30.0 and $85.0. The trading volume and open interest indicate liquidity and investor interest in this range. Citigroup's current stock price is $61.05, down by -0.46%, with an RSI indicating it may be overbought. Analyst ratings suggest a consensus target price of $74.67, with Goldman Sachs and Oppenheimer showing optimism.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:45 pm

DAL

Deep-pocketed investors have shown a bearish sentiment towards Delta Air Lines (NYSE:DAL), with a significant move in options trading detected by Benzinga. The trading activity suggests a target price range of $35.0 to $60.0 for DAL over the next 3 months. The majority of the activity is bearish, with a notable volume in call options being interpreted as bearish due to the nature of the trades. Delta Air Lines's stock is slightly down by -0.07%, with an analyst from UBS issuing a Buy rating and a price target of $59.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:45 pm

LPLA

LPL Financial's shares are trading lower following the release of their monthly activity report for February 2024.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 3:45 pm

BBY

JP Morgan analyst Christopher Horvers upgraded Best Buy Co (NYSE:BBY) from Neutral to Overweight and increased the price target from $89 to $101.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 3:41 pm

SCCO

Goldman Sachs analyst Thiago Ojea has maintained a Sell rating on Southern Copper (NYSE:SCCO) but raised the price target from $61 to $82.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 3:41 pm