Midday movers: Tesla, Beyond Meat rise; Urban Outfitters, Bumble fall
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- All eyes on Micron earnings tonight as sell-off raises stakes for AI memory trade
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Tesla (TSLA) Megapack business could be worth 'substantially more' than car business - analyst
February 29, 2024 8:33 AM ESTAnalysts at RBC Capital believe Tesla's (NASDAQ: TSLA) Megapack utility-grade battery storage business could be worth substantially more than its standalone car business.
The firm, which has an Outperform rating and a $297 price target on Tesla, said the Elon Musk-led company... More
Argus Upgrades Beyond Meat Inc. (BYND) to Hold, 'weak balance sheet'
February 29, 2024 7:05 AM ESTArgus analyst John Staszak upgraded Beyond Meat Inc. (NASDAQ: BYND) from Sell to Hold.
The analyst comments "We are raising our rating on Beyond Meat Inc. (NGS: BYND) to HOLD from SELL. The company sells plant-based alternatives to meat at retail outlets, and has also developed products for fast food chains, including McDonalds, Pizza Hut, and KFC. BYND also faces... More
Advance Auto Parts (AAP) PT Raised to $68 at RBC Capital, 'Big Ships Turn Slowly'
February 29, 2024 5:47 AM ESTRBC Capital analyst Steven Shemesh raised the price target on Advance Auto Parts (NYSE: AAP) to $68.00 (from $47.00) while maintaining a Sector Perform rating.
The analyst comments "New management seems to have a good handle on the necessary steps to regain share and improve... More
CFRA Upgrades eBay (EBAY) to Buy
February 28, 2024 3:40 PM ESTCFRA analyst Arun Sundaram upgraded eBay (NASDAQ: EBAY) from Buy to Buy with a price target of $55.00 (from $45.00).
The analyst comments "We lift our 12-month target by $10 to $55, calculated using an EV/EBITDA multiple of 9.0x our 2024 adj-EBITDA estimate of $3,290M (+4% Y/Y) vs. the... More
The TJX Companies (TJX) PT Raised to $92 at CFRA
February 28, 2024 10:10 AM ESTCFRA analyst Zachary Warring raised the price target on The TJX Companies (NYSE: TJX) to $92.00 (from $85.00) while maintaining a Hold rating.
The analyst comments "We raise our 12-month target by $7 to $92, based on 22.4x our FY 25 EPS view and in line with the... More
CFRA Downgrades Boston Beer Company (SAM) to Sell
February 28, 2024 8:47 AM ESTCFRA analyst Garrett Nelson downgraded Boston Beer Company (NYSE: SAM) from Hold to Sell with a price target of $275.00 (from $350.00).
The analyst comments "We cut our 12-month target by $75 to $275, representing a '25 P/E of 27x, a justified discount to its 10-year average... More
Advance Auto Parts (AAP) misses earnings, tops revenue expectations
February 28, 2024 8:32 AM ESTAdvance Auto Parts (NYSE: AAP) reported a challenging fourth quarter for fiscal year 2023, with a notable decline in earnings per share (EPS) but a slight revenue beat compared to analyst expectations. The company's Q4 EPS came in at a loss of -$0.59, significantly underperforming the analyst estimate of $0.21. However, revenue for the quarter reached $2.5 billion, exceeding the consensus estimate of $2.46 billion. AAP shares have risen 3.5%.
The automotive parts retailer's net sales for the fourth quarter saw a marginal decrease of 0.4% compared to the same... More
