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BIIB

REGN

VRTX

UBS downgraded Biogen Inc (NASDAQ:BIIB) from Buy to Neutral with a lower price target of $276, citing slower market penetration for its Alzheimer's drug Leqembi. Challenges in neurologist access and uptake have led to reduced sales forecasts for 2024/25. Despite a positive view on Biogen's new CEO and strategy, UBS sees limited short-term stock performance benefits and recommends stocks with higher growth potential like Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). BIIB shares fell 1.10% to $248.75.

Portfolio Pulse from Vandana Singh

January 24, 2024 | 7:55 pm

Raymond James analyst John Freeman has reaffirmed a Strong Buy rating on Antero Resources (NYSE:AR) and increased the price target from $28 to $32. This adjustment reflects a positive outlook on the company's stock, suggesting potential upside from the previous target.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 7:55 pm

APO

Apollo Global Management's stock (APO) is trading higher following Morgan Stanley's decision to maintain an Equal-Weight rating and increase the price target from $94 to $99.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 7:45 pm

NKLA

Baird analyst initiated coverage on Nikola Corporation (NASDAQ:NKLA) with an Outperform rating and a $2 price target, citing the potential in the zero-emissions trucking market and the strength of Nikola's management team. The analyst highlighted the company's proprietary design and software as key differentiators and anticipates catalysts such as manufacturing improvements, customer and partnership announcements, and hydrogen infrastructure buildout. A new CFO is expected to be named soon, which will complement CEO Steve Girsky's team. State or federal incentives in new geographies could also positively impact the stock. Nikola's software, with several patented features, is seen as an underappreciated aspect of their offering. NKLA shares rose 5.54% to $0.6861.

Portfolio Pulse from Nabaparna Bhattacharya

January 24, 2024 | 7:40 pm

FXI

MSFT

NFLX

QQQ

SMH

SPY

XLK

U.S. stock indices hit record highs, with the S&P 500 surpassing 4,900 points due to a tech rally and Microsoft reaching a $3 trillion market cap. The National Science Foundation announced a pilot AI research program with tech companies. The Nasdaq 100 and Dow Jones also saw gains, while the Russell 2000 remained flat. U.S. private sector activity showed strong growth, and China's RRR cut boosted Chinese-related stocks. Sector-wise, technology led gains, while utilities lagged. Netflix surged on strong subscriber growth, while other companies showed mixed reactions to earnings. DuPont tumbled after a disappointing forecast.

Portfolio Pulse from Piero Cingari

January 24, 2024 | 7:38 pm

TXN

Texas Instruments (TXN) shares dropped following a report of disappointing Q4 revenue and weaker Q1 guidance. Additionally, several firms have reduced their price targets for TXN.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 7:38 pm

GBTC

SARK

TARK

TSLA

Tesla, Inc (NASDAQ:TSLA) is entering its Q4 earnings report with a flat trade, following a Q3 earnings miss that led to a significant stock price drop. Analysts predict Q4 earnings per share of 74 cents on revenues of $25.59 billion, with vehicle deliveries exceeding estimates. The article discusses trading strategies for Tesla stock, mentioning the Grayscale Bitcoin Trust ETF (NYSE:GBTC) for Bitcoin exposure, and the AXS Short Innovation Daily ETF (NASDAQ:SARK) and AXS 2X Innovation ETF (NASDAQ:TARK) for bearish and bullish positions, respectively. Technical analysis suggests a bearish outlook for Tesla's stock with a potential bear flag pattern indicating a further decline.

Portfolio Pulse from Melanie Schaffer

January 24, 2024 | 7:36 pm

PYPL

Susquehanna analyst Anthony Butler has maintained a Neutral rating on PayPal Holdings (NASDAQ:PYPL) and increased the price target from $61 to $65.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 7:33 pm

PLUG

Susquehanna analyst Biju Perincheril has maintained a Neutral rating on Plug Power (NASDAQ:PLUG) but has lowered the price target from $4.5 to $3.5.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 7:31 pm

MFG

MUFG

SMFG

Japanese bank stocks are up following the Bank of Japan's announcement that the country is nearing its 2% inflation target, suggesting a potential shift away from ultra-loose monetary policy.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 7:23 pm