Midday movers: Intel, Ulta Beauty fall; Spotify rises

Pullback provides attractive opportunity in this beauty stock - BofA

Analysts at BofA believe the pullback in one beauty stock has provided investors with an attractive opportunity.

Shares of ULTA fell more than 15% Wednesday after the company's appearance at the JPMorgan Retail conference, where it noted that external data points reflect a slowdown at the start of the year.

ULTA's CEO noted that "all external data points are reflecting a slowdown" across price points and... More

Rosenblatt on Spotify (SPOT): 'Price Hike Report is Encouraging'

Rosenblatt analyst Barton Crockett reiterated a Buy rating and $315.00 price target on Spotify (NYSE: SPOT).

The analyst comments "Encouraging context -- Spotify raised prices in 75% of its markets by the global equivalent of a $1 hike in the US starting in Sept with full phase-in over 4Q23. This price hike... More

Nelson Peltz's Trian Partners made $300m on Walt Disney (DIS) investment

According to a report from the Wall Street Journal on Thursday, Nelson Pelt's Trian Partners made around $300 million in profit on its 16-month investment in Walt Disney (NYSE: DIS).

The activist investor was defeated in his board battle with Disney, but Peltz's firm made a significant gain on its... More

Tesla (TSLA) PT Lowered to $310 at Morgan Stanley, 'Near Term Fearful vs. Long Term Greedy'

Morgan Stanley analyst Adam Jonas lowered the price target on Tesla (NASDAQ: TSLA) to $310.00 (from $320.00) while maintaining a Overweight rating.

The analyst comments "Teslas weak 1Q update is a clear sign of the ongoing EV shakeout phase. Our revised FY24 delivery est... More

Acuity Brands (AYI) PT Raised to $295 at Wells Fargo

Wells Fargo analyst Joseph O\'Dea raised the price target on Acuity Brands (NYSE: AYI) to $295.00 (from $260.00) while maintaining a Overweight rating.

The analyst comments "A big F1Q GM beat led us to model a larger than... More

ULTA Salon (ULTA) PT Lowered to $564 at Deutsche Bank, 'Near-Term Blip or Deeper Woes?'

Deutsche Bank analyst Krisztina Katai lowered the price target on ULTA Salon (NASDAQ: ULTA) to $564.00 (from $636.00) while maintaining a Buy rating.

The analyst comments "Yesterday was a tough day in beauty/discretionary retail on the back of downbeat commentary from ULTA on the U.S. beauty category. Specifically,... More

Tesla (TSLA) PT Lowered to $115 at JPMorgan, 'We are slashing our estimates and price target'

JPMorgan analyst Ryan Brinkman lowered the price target on Tesla (NASDAQ: TSLA) to $115.00 (from $130.00) while maintaining a Underweight rating.

The analyst comments "

We are slashing our estimates and price target for Tesla shares after updating for 1Q24 deliveries which yesterday tracked materially softer than JPM and consensus expectations and which we estimate could spell trouble for investor confidence in the companys long-term growth outlook that is so critical to sustaining the stocks rarified valuation multiple. In fact, Tesla vehicle sales appear to have missed analyst estimates by the... More

Evercore ISI on ULTA Salon (ULTA) Knock-On Impact: 'we see a buying opportunity for COTY'

Evercore ISI analyst Michael Binetti reiterated an Outperform rating and $630.00 price target on ULTA Salon (NASDAQ: ULTA).

The analyst comments "Beauty stocks are trading off following Ultas statement about a slowdown in the U.S. market, across price points and segments, thats earlier and a bit bigger than thought. Retail sales for... More

Evercore on Spotify (SPOT): '$1 For $1B: We believe if this price increase is carried out broadly, it could potentially contribute $1B of incremental Revenue'

Evercore ISI analyst Mark Mahaney reiterated an Outperform rating and $285.00 price target on Spotify (NYSE: SPOT).

The analyst comments "The News: According to Bloomberg report this morning, Spotify will potentially raise prices by $1-$2/month in five markets, including the UK and Australia, by the end of April, and with a potential U.S. price increase to come later this year, helping to cover the cost of Audiobook. The report also noted that Spotify plans to make the current $11/month plan a basic tier that offers Music & Podcasts only, where subscribers need... More

Citi says Taiwan earthquake impact on TSMC 'should be manageble'

Citi analysts said in a note Wednesday that they believe the earthquake's impact on facilities and production at Taiwan Semi (NYSE: TSM) is under evaluation but manageable.

A significant earthquake, registering magnitude 7.4, struck just off Taiwans east coast early morning on Wednesday, 3... More