Midday movers: Lilly, Palo Alto and Fabrinet rise; Lowe's, Boeing fall
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- S&P 500, Dow tick higher as investors weigh Mideast negotiations
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Medtronic, Inc. (MDT) PT Raised to $90 at Truist Securities
August 22, 2024 12:16 PM EDTTruist Securities analyst Richard Newitter raised the price target on Medtronic, Inc. (NYSE: MDT) to $90.00 (from $85.00) while maintaining a Hold rating.
The analyst comments "MDT's F1Q beat on the top-line with in-line op mgn, and non-op items helped deliver a... More
Coinbase Global Inc. (COIN) PT Lowered to $220 at Jefferies
August 21, 2024 7:06 AM EDTJefferies analyst Trevor Williams lowered the price target on Coinbase Global Inc. (NASDAQ: COIN) to $220.00 (from $245.00) while maintaining a Hold rating.
The analyst comments "Softer market backdrop and lower volatility drove Q/Q decline in transaction revenue. Total trading volume fell -28% Q/Q, with Retail -34% Q/Q and Institutional... More
Goldman Sachs Reiterates Sell Rating on Medtronic, Inc. (MDT)
August 21, 2024 6:52 AM EDTGoldman Sachs analyst David Roman reiterated a Sell rating and $82.00 price target on Medtronic, Inc. (NYSE: MDT)
The analyst comments "Following 1QFY25, we revise our model for (1) recent business performance; (2) updated market outlooks and competitive positioning; and (3) P&L assumptions. For FY25, we land just below EBIT margin targets, driven by sustained... More
Medtronic, Inc. (MDT) PT Raised to $94 at Oppenheimer
August 21, 2024 6:48 AM EDTOppenheimer analyst Steven Lichtman raised the price target on Medtronic, Inc. (NYSE: MDT) to $94.00 (from $92.00) while maintaining a Perform rating.
The analyst comments "Medtronic raised FY25 guidance low-end on organic sales (4.5-5% vs. 4-5% prior) and EPS (up slightly to $5.42-5.50 vs. $5.405.50). F1Q... More
Lowe's (LOW) PT Lowered to $238 at RBC Capital
August 21, 2024 6:24 AM EDTRBC Capital analyst Steven Shemesh lowered the price target on Lowe's (NYSE: LOW) to $238.00 (from $245.00) while maintaining a Sector Perform rating.
The analyst comments "Continued comp softness and a guidance cut were expected. One could argue that the setup heading into FY'25 (a... More
XPeng (XPEV) PT Lowered to $8 at JPMorgan
August 21, 2024 6:20 AM EDTJPMorgan analyst Nick Lai lowered the price target on XPeng (NYSE: XPEV) to $8.00 (from $9.00) while maintaining a Neutral rating.
The analyst comments "XPengs 2Q24 results on 20 Aug were broadly in line with little surprise although 3Q24 delivery guidance is a... More
Palo Alto Networks (PANW) PT Raised to $400 at BofA Securities
August 21, 2024 6:16 AM EDTBofA Securities analyst Tal Liani raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $370.00) while maintaining a Neutral rating.
The analyst comments "4Q24 results were strong with NGS ARR growth of 42.8% YoY, as well as solid margins and FCF... More
Lowe's (LOW) PT Lowered to $275 at BofA Securities
August 21, 2024 6:15 AM EDTBofA Securities analyst Robert F. Ohmes lowered the price target on Lowe's (NYSE: LOW) to $275.00 (from $280.00) while maintaining a Buy rating.
The analyst comments "LOW reported F2Q25 adj. EPS of $4.10, ahead of our $4.00 est. Comps declined -5.1% y/y driven by continued softness... More
XPeng (XPEV) PT Lowered to $10 at BofA Securities
August 21, 2024 6:12 AM EDTBofA Securities analyst Ming Hsun Lee lowered the price target on XPeng (NYSE: XPEV) to $10.00 (from $11.00) while maintaining a Buy rating.
The analyst comments "XPeng announced 2Q24 results and hosted a conference call on 20 August. Total revenue came in at... More
Medtronic, Inc. (MDT) PT Raised to $106 at Wells Fargo
August 21, 2024 5:19 AM EDTWells Fargo analyst Larry Biegelsen raised the price target on Medtronic, Inc. (NYSE: MDT) to $106.00 (from $105.00) while maintaining a Overweight rating.
The analyst comments "Strong FQ1 rev beat on CVG, Neuroscience, and Diabetes strength. MDT reported FQ1 2025 rev of $8.0B (+5.3% organic) exceeded... More
Lowe's (LOW) PT Lowered to $280 at Wells Fargo
August 21, 2024 5:19 AM EDTWells Fargo analyst Zachary Fadem lowered the price target on Lowe's (NYSE: LOW) to $280.00 (from $290.00) while maintaining a Overweight rating.
The analyst comments "Not a perfect setup; reasons to defend. Macro remains influx & the category isn't improving, but LOW Q2 update found a... More
Wolfe Research Reiterates Underperform Rating on Medtronic, Inc. (MDT)
August 21, 2024 5:13 AM EDTWolfe Research analyst Mike Polark reiterated an Underperform rating and $82.00 price target on Medtronic, Inc. (NYSE: MDT).
The analyst comments "We rate MDT shares Underperform. We have an $82 target price which simplistically represents a 15x multiple on our FY2025 adjusted EPS forecast. On FY2025 EPS, our 15 P/E input represents a ~25% discount to current CY25 S&P 500 multiple of ~20x. This discount to the S&P sits in bottom quartile of the last decade. A discount is warranted, in our view, on track record and short-run expectations. Back 12 years, MDT EPS has... More
Bernstein SocGen Group Reiterates Market Perform Rating on XPeng (XPEV)
August 21, 2024 5:12 AM EDTBernstein SocGen Group analyst Eunice Lee reiterated a Market Perform rating and $9.00 price target on XPeng (NYSE: XPEV)
The analyst comments "Q2 margin beat on VW & Other. XPeng reported Q2 revenue of RMB 8.1bn, +60.2% YoY and +23.9% QoQ. YoY growth was driven by both volume growth... More
Deutsche Bank Reiterates Hold Rating on Medtronic, Inc. (MDT)
August 21, 2024 5:10 AM EDTDeutsche Bank analyst Pito Chickering reiterated a Hold rating and $85.00 price target on Medtronic, Inc. (NYSE: MDT)
The analyst comments "MDT outperformed the broader market by 100 bps post this mornings print, with shareholders frustrated that MDT didnt outperform more post the beat-and-raise. MDT now... More
DA Davidson Reiterates Neutral Rating on Lowe's (LOW)
August 20, 2024 3:22 PM EDTDA Davidson analyst Michael Baker reiterated a Neutral rating and $240.00 price target on Lowe's (NYSE: LOW).
The analyst comments "LOW missed published comp estimates and guided down. But this was expected as HD did the same last week for their core business. So true... More
Lowe's (LOW) PT Raised to $274 at Jefferies
August 20, 2024 3:20 PM EDTJefferies analyst Jonathan Matuszewski raised the price target on Lowe's (NYSE: LOW) to $274.00 (from $267.00) while maintaining a Buy rating.
The analyst comments "Following 2Q, we continue to see pent-up demand poised to accelerate comp sales and drive fixed cost leverage. As homeowners... More
XPeng (XPEV) PT Lowered to $7.60 at Citi
August 20, 2024 3:17 PM EDTCiti analyst Jeff Chung lowered the price target on XPeng (NYSE: XPEV) to $7.60 (from $8.30) while maintaining a Neutral rating.
The analyst comments "This report summarizes our thoughts on Xpengs MONA model launch and ADAS development. We slightly lift 2024-26E... More
Lowe's (LOW) PT Raised to $269 at Truist Securities
August 20, 2024 3:16 PM EDTTruist Securities analyst Scot Ciccarelli raised the price target on Lowe's (NYSE: LOW) to $269.00 (from $265.00) while maintaining a Buy rating.
The analyst comments "2Qs comp decline of (5.1%) vs. our (4.3%E), was similar to our in-line/- call; mrgs/EPS held-up well and posted slight... More
Stifel Reiterates Hold Rating on Lowe's (LOW)
August 20, 2024 3:16 PM EDTStifel analyst W. Andrew Carter reiterated a Hold rating and $250.00 price target on Lowe's (NYSE: LOW).
The analyst comments "We continue with our Hold rating for LOW shares largely maintaining our outlook including a cautious approach to FY25 with our conviction strengthened... More
Eli Lilly (LLY) is a new large-cap pharma top pick at Wells Fargo
August 20, 2024 12:05 PM EDTWells Fargo named Eli Lilly & Co. (NYSE: LLY) as its new top pick among large-cap pharmaceutical stocks in a note to clients Tuesday, highlighting the company's potential for significant upside.
In a recent update to its large-cap rankings, Wells Fargo analysts stressed the strength of Eli Lilly's pipeline and its ability to exceed market expectations in the... More
Palo Alto Networks (PANW) PT Raised to $400 at FBN Securities
August 20, 2024 9:20 AM EDTFBN Securities analyst Shebly Seyrafi raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $350.00) while maintaining a Outperform rating.
The analyst comments "We retain our Outperform rating on PANW and raise our PT from $350 to $400 following better than expected FQ4 results in which RPO grew by... More
Citi Reiterates Neutral Rating on Lowe's (LOW)
August 20, 2024 8:01 AM EDTCiti analyst Steven Zaccone reiterated a Neutral rating and $240.00 price target on Lowe's (NYSE: LOW).
The analyst comments "LOW reported a 2Q print fairly in-line with expectations following HD earnings last week (i) 2Q EPS beat the Streets estimate by ~4%... More
Telsey Reiterates Market Perform Rating on Lowe's (LOW)
August 20, 2024 7:52 AM EDTTelsey analyst Joseph Feldman reiterated a Market Perform rating and $230.00 price target on Lowe's (NYSE: LOW).
The analyst comments "TAG View: Lowe's reported better-than-expected 2Q24 earnings on solid expense management, but lowered its 2024 guidance on a dimmer view on DIY sales and the macroeconomic backdrop. The company reported 2Q24 adjusted EPS of $4.10, beating our estimate of $3.97 and the FactSet consensus (FS) of $3.96. Note, a lower tax rate than our forecast and the Street helped EPS by ~$0.05. Total sales declined 5.5% to $23.6B, though,... More
