Midday movers: Macy’s, Broadcom, Eli Lilly and more
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Snap (SNAP) says Snapchat+ now has 7 million users - Bloomberg
December 13, 2023 8:48 AM ESTAccording to a report from Bloomberg on Wednesday, Snap (NYSE: SNAP) said it now has 7 million subscribers for its Snapchat+ offering.
Snapchat+, which provides users with early or exclusive access to features on its social media app, such as artificial intelligence tools,... More
Deutsche Bank Cautious on Macy's (M): 'Buyout Is Questionable'
December 13, 2023 7:51 AM ESTDeutsche Bank analyst Paul Trussell reiterated a Hold rating and $14.00 price target on Macy's (NYSE: M).
The analyst comments "M's shares were up 19% on 12/11 following reports that the department store has received a buyout proposal from Arkhouse Management and Brigade Capital Management. The investor group has offered $21 a share for the company (~$5.8B), which is more than a 20% premium to the close on 12/8. The proposed deal implies a little over a 4.0x FY23 EV/EBITDA multiple vs. the current valuation of 3.6x (as of 12/8) and... More
Citi Downgrades Macy's (M) to Sell, 'Consider Us Skeptical of a Deal Materializing'
December 12, 2023 5:05 AM ESTCiti analyst Paul Lejuez downgraded Macy's (NYSE: M) from Neutral to Sell with a price target of $14.00.
The analyst comments "We are downgrading M from Neutral to Sell. The stock was +20% on the WSJ report of a $21/sh bid made for the... More
BMO Capital Pounding Table on Eli Lilly (LLY): 'We'd Be Buyers'
December 11, 2023 1:40 PM ESTBMO Capital analyst Evan David Seigerman reiterated an Outperform rating and $710.00 price target on Eli Lilly (NYSE: LLY)
The analyst comments "Lilly shares under pressure (-5% vs DRG -0.6% vs SPX flat) following JAMA article detailing previously announced SURMOUNT-4 data for Zepbound... More
Macy's (M) PT Raised to $21 at Evercore ISI, 'take-out bid will shine a light on the asset value of the company'
December 11, 2023 9:38 AM ESTEvercore ISI analyst Michael Binetti raised the price target on Macy's (NYSE: M) to $21.00 (from $13.00) while maintaining a In Line rating.
The analyst comments " We think the take-out bid will shine a light on the asset value of the company, and we... More
