Midday movers: Costco, Marvell fall; Gap, DocuSign rise

Coinbase (COIN) stock upgraded by Raymond James despite long-term negative bias

On Tuesday, Raymond James made a notable change in its rating for Coinbase (NASDAQ: COIN), upgrading the cryptocurrency exchange from Underperform to Market Perform. The firm cited a shift in its near-term investment rating outlook, despite maintaining a long-term negative bias towards the company. The adjustment reflects a... More

Recent Alzheimer's disease dynamics are a positive for Biogen's Leqembi - analyst

On Monday, Oppenheimer reiterated its Outperform rating and $290 price target for Biogen (NASDAQ: BIIB) amid recent developments in the Alzheimer's Disease (AD) treatment landscape. The competitive dynamics have shifted significantly, potentially benefiting Biogen's AD drug, Leqembi, which is developed in partnership with Eisai. Eisai has reported progress on multiple fronts for Leqembi, while a competitor, Eli Lilly, announced an unexpected delay for its AD drug,... More

Costco Wholesale (COST) PT Raised to $777 at TD Cowen, 'Pullback creates buying opportunity'

TD Cowen analyst Oliver Chen raised the price target on Costco Wholesale (NASDAQ: COST) to $777.00 (from $700.00) while maintaining a Outperform rating.

The analyst comments "Early-Innings Digital Innovation. Pullback creates buying opportunity given +3-4% US traffic consistency, record 93% renewal rates & global unit growth... More

Gap, Inc. (GPS) PT Raised to $9 at UBS

UBS analyst Jay Sole raised the price target on Gap, Inc. (NYSE: GPS) to $9.00 (from $8.00) while maintaining a Sell rating.

The analyst comments "GPS 4Q23 report was better than we expected. We raise our PT by $1 as a result. However, we believe GPS... More

Costco Wholesale (COST) PT Raised to $800 at BMO Capital

BMO Capital analyst Kelly Bania raised the price target on Costco Wholesale (NASDAQ: COST) to $800.00 (from $770.00) while maintaining a Outperform rating.

The analyst comments "Costco's F2Q24 was strong fundamentally, supported by membership growth and strength in renewal rates, and we believe Friday's negative... More

Docusign Inc. (DOCU) PT Raised to $93 at Citi

Citi analyst Tyler Radke raised the price target on Docusign Inc. (NASDAQ: DOCU) to $93.00 (from $90.00) while maintaining a Buy rating.

The analyst comments "After an uncertain few months, which included an evaluation of a sale process, DOCU delivered a very solid beat/raise,... More

Rivian Automotive (RIVN) receives over 68,000 R2 reservations in less than 24 hours, says CEO

Rivian Automotive (NASDAQ: RIVN) founder and chief executive RJ Scaringe tweeted Friday that the company has received a significant number of reservations for its R2 model.

Scaringe said the electric vehicle company "has taken more than 68,000 R2 reservations" in less than 24... More

Broadcom Limited (AVGO) PT Raised to $1,600 at CFRA

CFRA analyst Angelo Zino raised the price target on Broadcom Limited (NASDAQ: AVGO) to $1,600.00 (from $1,500.00) while maintaining a Buy rating.

The analyst comments "We bump our 12-month target to $1,600 from $1,500 on a P/E of 28.1x our CY 25 EPS view, above historical given... More

Gap, Inc. (GPS) PT Raised to $15 at CFRA

CFRA analyst Zachary Warring raised the price target on Gap, Inc. (NYSE: GPS) to $15.00 (from $12.00) while maintaining a Sell rating.

The analyst comments "We raise our 12-month price target by $3 to $15, based on 12.5x our FY 25 (Jan.) EPS estimate and below GPS's... More

Broadcom Limited (AVGO) PT Raised to $1,680 at BofA Securities

BofA Securities analyst Vivek Arya raised the price target on Broadcom Limited (NASDAQ: AVGO) to $1,680.00 (from $1,500.00) while maintaining a Buy rating.

The analyst comments "As expected, AVGO maintained its FY24 sales outlook of $50bn, though with mix shifting more towards AI (now >$10bn vs... More