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MU

STX

WDC

Mizuho analyst Vijay Rakesh issued Buy ratings for Micron Technology (MU), Seagate Technology (STX), and Western Digital (WDC), with price targets of $100, $100, and $66 respectively, driven by a significant surge in NAND pricing and conservative Capex through 2024. The NAND price increase is expected to benefit AI handsets and servers, with Western Digital's new fabrication plants and transition to BiCS8 technology highlighting strategic growth. The semiconductor and storage industry is anticipated to see dynamic growth with strategic investments and product innovations.

Portfolio Pulse from Anusuya Lahiri

February 21, 2024 | 7:42 pm

CFLT

Stifel analyst Brad Reback initiated coverage on Confluent Inc (NASDAQ:CFLT) with a Buy rating and a price target of $40, highlighting the company's significant growth potential in the cloud expansion and the launch of its Flink product. Reback points out that with over 75% of Fortune 500 companies already using Apache Kafka and only 36% being Confluent customers, there's a substantial opportunity for growth. Additionally, the shift towards fully managed cloud services and the upcoming FedRamp approvals are expected to serve as catalysts for further cloud growth. Despite near-term challenges, such as the GTM compensation structure transition, Reback is optimistic about Confluent's future, projecting a 20%+ growth rate and margin expansion.

Portfolio Pulse from Anusuya Lahiri

February 21, 2024 | 7:37 pm

NVDA

NVIDIA shares are trading lower due to market volatility ahead of its Q4 earnings report.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 7:36 pm

AYRWF

CRLBF

JUSHF

TSNDF

Jushi Holdings (OTC:JUSHF) is highlighted by analyst Pablo Zuanic as having significant upside potential in the cannabis market, particularly in Pennsylvania and Virginia due to regulatory shifts. The company's current undervaluation and strategic positioning, including debt management and market expansion, suggest a positive outlook. Zuanic projects a substantial market cap increase for Jushi, outpacing competitors like AYR (OTC:AYRWF), Cresco (OTC:CRLBF), and TerrAscend (OTC:TSNDF), especially if recreational sales commence in these states. Despite challenges, Jushi's operational efficiencies and financial maneuvers indicate resilience and potential for growth.

Portfolio Pulse from Nicolás Jose Rodriguez

February 21, 2024 | 7:35 pm

NAX

MediaAlpha, Inc. (NYSE:NAX) reported better than expected Q4 results, with a GAAP loss of 5 cents per share against estimates of 18 cents and sales of $117.17 million versus estimates of $111.52 million. The company attributes the success to its Property & Casualty insurance vertical and anticipates Q1 Transaction Value to nearly double sequentially. MediaAlpha forecasts Q1 2024 revenue between $105 million and $115 million, with adjusted EBITDA between $9.5 million and $11.5 million. Following the report, shares surged 22.7% to $19.38. Analysts from Canaccord Genuity and RBC Capital raised their price targets on MediaAlpha.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 7:31 pm

CAVA

Market whales have shown a bullish stance on Cava Group (NYSE:CAVA), with 62% of recent options trades being bullish and 37% bearish. The trades include 6 puts and 2 calls, with a focus on a price band between $20.0 and $55.0. Cava Group's stock is currently down by -5.41%, trading at $51.25, with an RSI indicating a neutral position. The next earnings report is due in 6 days.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 7:30 pm

PFE

Pfizer (NYSE:PFE) has seen unusual options activity, with over 14 transactions valued at $1,147,738, indicating a bullish sentiment among significant investors targeting a price range of $22.5 to $30.0 over the next three months. The mean open interest for Pfizer options is 14,039.29 with a total volume of 23,475.00. The largest trades observed suggest a bullish outlook, with notable trades including puts and calls with expiration dates ranging from 2024 to 2025 and strike prices around $25 to $26. Pfizer, a leading pharmaceutical company with annual sales close to $50 billion, has its stock currently trading at $27.63, showing a 0.14% increase. The RSI indicates a neutral position, and an earnings announcement is expected in 69 days. An analyst from Cantor Fitzgerald has set a price target of $45, downgrading the stock to Overweight.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 7:30 pm

RBC

Over the past 15 years, RBC Bearings (NYSE:RBC) has outperformed the market with an annualized return of 21.31%, turning a $1000 investment into $17,475.24. The company now has a market capitalization of $7.89 billion.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 7:30 pm

COST

Over the past 20 years, Costco Wholesale (NASDAQ:COST) has produced an average annual return of 15.59%, outperforming the market by 8.07% on an annualized basis. A $100 investment in COST 20 years ago would be worth $1,862.38 today. Costco's market capitalization currently stands at $321.95 billion.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 7:30 pm

NVDA

QCOM

Qualcomm Inc (NASDAQ:QCOM) shares dropped 1.1% to $150.23 as the market anticipates NVIDIA Corp's earnings. NVIDIA's results are significant due to its influence in the AI industry, with expectations of a strong quarter. Qualcomm pays a dividend yielding 2.57% annually as of Feb. 21, 2024, and its stock performance is also influenced by buyback programs.

Portfolio Pulse from Henry Khederian

February 21, 2024 | 7:28 pm