Streetbeat News

Stock Prices

MUR

Keybanc analyst Tim Rezvan has maintained an Overweight rating on Murphy Oil (NYSE:MUR) but has reduced the price target from $53 to $50.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 4:07 pm

HTZ

Hertz Global Holdings, Inc (NASDAQ:HTZ) plans to sell about 20,000 EVs from its U.S. fleet, which is one-third of its global EV fleet. The sale, starting in December 2023 and continuing through 2024, aims to balance EV supply with demand, reduce lower margin rentals, and cut damage expenses. Hertz will reinvest in ICE vehicles to meet customer demand. The company expects an additional $245 million in depreciation expenses in Q4 2023 due to the EV sale. However, the fleet change is not anticipated to materially impact its asset-backed securitization facilities. Hertz projects an improvement in Adjusted Corporate EBITDA and an increase in free cash flow by $250-300 million over 2024 and 2025. Q4 2023 revenue is expected to be $2.10-$2.20 billion. HTZ stock dropped 5.19% to $8.86 following the announcement.

Portfolio Pulse from Shivani Kumaresan

January 11, 2024 | 4:06 pm

AGI

RBC Capital analyst Michael Siperco has upgraded Alamos Gold (NYSE:AGI) from Sector Perform to Outperform and increased the price target from $12 to $16.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 4:05 pm

ARM

Big-money investors have shown a bearish stance on ARM Holdings (NASDAQ:ARM), with options trades indicating a sentiment split of 36% bullish and 63% bearish. Benzinga's options scanner revealed 11 significant trades, with a price range target of $60 to $75 over the last 3 months. The largest trades were bullish CALL options with expiration dates in 2026, but there were also bearish SWEEP CALL options. ARM Holdings specializes in ARM architecture, widely used in smartphones and other devices. The stock is currently neutral with an RSI indicator and an earnings announcement expected in 27 days. Analysts have set an average price target of $88.33, with varying recommendations from Deutsche Bank, Rosenblatt, and Mizuho.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 4:03 pm

BTCUSD

The U.S. SEC's approval of 11 Spot Bitcoin ETFs has propelled Bitcoin's price over $48,000, with a peak at $49,012. Trading volumes surged, with Spot ETFs trading $2.3 billion in 20 minutes and OTC Bitcoin volume hitting $7.7 billion. Bitcoin's market cap now surpasses Tesla, Facebook, and Berkshire Hathaway. This surge coincides with U.S. CPI data for December 2023 rising to 3.4%, above the expected 3.2%.

Portfolio Pulse from Khyathi Dalal

January 11, 2024 | 4:02 pm

PAYO

Analyst ratings for Payoneer Global (NASDAQ:PAYO) show a unanimous bullish stance with 4 analysts rating it as 'Buy'. The 12-month average price target is now $7.25, down from $8.33, with a high estimate of $8.00 and a low of $6.00. Goldman Sachs analyst Will Nance lowered the price target from $7 to $6, and previously from $8 to $7. Needham's Mayank Tandon maintains a target of $8.00 and previously lowered it from $10.00. Payoneer's revenue growth is strong at 30.91%, but it faces challenges with below-average net margin, ROE, and ROA, and a conservative debt-to-equity ratio of 0.04.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 4:01 pm

CDNS

Cadence Design Systems (NASDAQ:CDNS) is evaluated against its peers in the Software industry. CDNS has a lower P/E ratio than the industry average, suggesting growth potential, but higher P/B and P/S ratios, indicating potential overvaluation. Its ROE, EBITDA, and gross profit are below the industry average, while revenue growth exceeds it. CDNS has a favorable debt-to-equity ratio compared to its top 4 peers, indicating a strong financial position.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 4:00 pm

PPG

Over the past 15 years, PPG Industries (NYSE:PPG) has produced an average annual return of 13.93%, outperforming the market. A $1000 investment in PPG 15 years ago would be worth $7,079.93 today. PPG currently has a market cap of $34.57 billion.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 4:00 pm

BKR

Baker Hughes (NASDAQ:BKR) is analyzed against competitors in the Energy Equipment & Services industry. It shows potential value with a lower P/E ratio than the industry average, a P/B ratio suggesting undervaluation, and a low P/S ratio. However, its ROE is below the industry average. BKR's EBITDA and gross profit are significantly above the industry average, and it has experienced strong revenue growth. The company also has a lower debt-to-equity ratio compared to its top 4 peers, indicating a stronger financial position.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 4:00 pm

BDX

Over the past 20 years, Becton Dickinson (NYSE:BDX) has produced an average annual return of 8.96%, outperforming the market by 1.58% annually. A $100 investment in BDX 20 years ago would be worth $556.70 today. The company's current market capitalization stands at $68.19 billion.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 4:00 pm