Midday movers: Eli Lilly, 3M, PayPal rise; Coca-Cola, Tesla fall

Cantor is bullish on FSD, starts Tesla (TSLA) stock at buy

May 2, 2024 11:31 AM EDT

Cantor Fitzgerald analysts initiated coverage of Tesla (NASDAQ: TSLA) with an Overweight rating and $230 price target in a note Thursday, telling investors they are bullish on the company's Full Self-Driving (FSD) software.

The firm feels Tesla will benefit from future upside from its... More

Restaurant Brands International (QSR) PT Raised to $90 at Deutsche Bank

May 2, 2024 6:16 AM EDT

Deutsche Bank analyst Lauren Silberman raised the price target on Restaurant Brands International (NYSE: QSR) to $90.00 (from $87.00) while maintaining a Buy rating.

The analyst comments "QSR delivered a solid 1Q print with strong top-line across segments, while EPS and EBITDA were largely in-line... More

PayPal (PYPL) PT Raised to $74 at BofA Securities

May 2, 2024 5:35 AM EDT

BofA Securities analyst Jason Kupferberg raised the price target on PayPal (NASDAQ: PYPL) to $74.00 (from $68.00) while maintaining a Neutral rating.

The analyst comments "Following PYPLs 1Q results and adj. EPS guidance which now includes stock-based compensation (SBC) going forward, we update our... More

Restaurant Brands International (QSR) PT Raised to $86 at Morgan Stanley

May 1, 2024 7:46 AM EDT

Morgan Stanley analyst John Glass raised the price target on Restaurant Brands International (NYSE: QSR) to $86.00 (from $85.00) while maintaining a Equalweight rating.

The analyst comments "A modest but relatively clean beat, broad based across segments on top and bottom line.... More

McDonald's (MCD) PT Lowered to $330 at BMO Capital

May 1, 2024 6:45 AM EDT

BMO Capital analyst Andrew Strelzik lowered the price target on McDonald's (NYSE: MCD) to $330.00 (from $335.00) while maintaining a Outperform rating.

The analyst comments "MCD's 1Q24 EPS of $2.70 fell $0.02 below consensus largely owing to modest comp miss across segments attributed to softer industry traffic. MCD... More

Coursera Inc (COUR) PT Lowered to $13 at BMO Capital

May 1, 2024 6:44 AM EDT

BMO Capital analyst Jeff Silber lowered the price target on Coursera Inc (NYSE: COUR) to $13.00 (from $20.00) while maintaining a Outperform rating.

The analyst comments "While 1Q24 results were largely intact, COUR's Consumer outlook was revised down. Management noted weaker trends in North America paid... More

PayPal (PYPL) PT Raised to $65 at BMO Capital

May 1, 2024 6:40 AM EDT

BMO Capital analyst Rufus Hone raised the price target on PayPal (NASDAQ: PYPL) to $65.00 (from $64.00) while maintaining a Market Perform rating.

The analyst comments "We continue to worry it will prove challenging for PYPL to meaningfully accelerate gross profit (GP)... More

Trane Technologies (TT) PT Raised to $330 at RBC Capital

May 1, 2024 6:35 AM EDT

RBC Capital analyst Deane Dray raised the price target on Trane Technologies (NYSE: TT) to $330.00 (from $312.00) while maintaining a Sector Perform rating.

The analyst comments "Sector Perform-rated Tranes robust 39c/21% 1Q24 operating beat and upside 2024 guidance triggered an outsized positive stock reaction. Even... More

PayPal (PYPL) PT Raised to $84 at RBC Capital

May 1, 2024 6:32 AM EDT

RBC Capital analyst Daniel Perlin raised the price target on PayPal (NASDAQ: PYPL) to $84.00 (from $74.00) while maintaining a Outperform rating.

The analyst comments "PYPLs new management team is off to a strong and credible start, continuing to drive improvements in product innovation (across... More

3M (MMM) PT Raised to $87 at RBC Capital

May 1, 2024 6:26 AM EDT

RBC Capital analyst Deane Dray raised the price target on 3M (NYSE: MMM) to $87.00 (from $78.00) while maintaining a Underperform rating.

The analyst comments "Underperform-rated 3M reported a sizeable 27c/13% 1Q24 operating beat vs. our estimate. This was the last quarter with Health... More

Trane Technologies (TT) PT Raised to $366 at Citi

May 1, 2024 6:22 AM EDT

Citi analyst Andrew Kaplowitz raised the price target on Trane Technologies (NYSE: TT) to $366.00 (from $355.00) while maintaining a Buy rating.

The analyst comments "Strong 1Q24 beat and raised '24 guidance, we think indicate that TT continues to capitalize on relatively healthy end-market trends... More

3M (MMM) PT Raised to $100 at Citi

May 1, 2024 6:21 AM EDT

Citi analyst Andrew Kaplowitz raised the price target on 3M (NYSE: MMM) to $100.00 (from $98.00) while maintaining a Neutral rating.

The analyst comments "We think 1Q results mark a relatively good start to MMM potentially unlocking value post its Solventum spin with a reshaped... More

PayPal (PYPL) PT Raised to $77 at JPMorgan

May 1, 2024 6:11 AM EDT

JPMorgan analyst Tien-tsin Huang raised the price target on PayPal (NASDAQ: PYPL) to $77.00 (from $70.00) while maintaining a Overweight rating.

The analyst comments "PayPal stock closed up ~1% (S&P 500 down ~2%) as 1Q results were ahead of estimates and guidance, a good start to the year and for mgmt track record building. Transaction Margin Dollar growth accelerated to +4%... More

PayPal (PYPL) PT Raised to $71 at UBS

May 1, 2024 5:45 AM EDT

UBS analyst Tim Chiodo raised the price target on PayPal (NASDAQ: PYPL) to $71.00 (from $63.00) while maintaining a Neutral rating.

The analyst comments "We increase our price target to $71 (vs. $63 prior) based on a ~15.5x multiple (vs. prior 14x) on 2025E non-GAAP EPS $4.55 (vs. $4.41 prior)... More

JPMorgan Upgrades 3M (MMM) to Overweight

May 1, 2024 5:44 AM EDT

JPMorgan analyst Stephen Tusa Jr. upgraded 3M (NYSE: MMM) from Neutral to Overweight with a price target of $111.00 (from $110.00).

The analyst comments "We are upgrading 3M to OW on a combination of an attractive valuation, an increasingly cleaned up balance sheet, with the dividend cut catalyst behind them now, and a turn in earnings momentum on a bottom in electronics, with better visibility on remainco fundamentals, while its still highly non-consensus, with only 1 buy rating. Our PT of $111 ($110 prior) assumes the core trades at a 15%... More

Corning (GLW) PT Raised to $35 at Deutsche Bank

May 1, 2024 5:00 AM EDT

Deutsche Bank analyst Matt Niknam raised the price target on Corning (NYSE: GLW) to $35.00 (from $33.00) while maintaining a Hold rating.

The analyst comments "We're updating our model post better than expected 1Q24 results, raising our estimates (by 3-4%) and 12-month price target (now $35, vs.... More

Eli Lilly (LLY) PT Raised to $1,001 at BMO Capital

April 30, 2024 4:50 PM EDT

BMO Capital analyst Evan David Seigerman raised the price target on Eli Lilly (NYSE: LLY) to $1,001.00 (from $900.00) while maintaining a Outperform rating.

The analyst comments "A high-quality earnings miss is one that 1) characterizes unprecedented demand; 2) justifies performance miss with supply constraints; 3) highlights efforts... More

Eli Lilly (LLY) PT Raised to $885 at Cantor Fitzgerald

April 30, 2024 2:01 PM EDT

Cantor Fitzgerald analyst Louise Chen raised the price target on Eli Lilly (NYSE: LLY) to $885.00 (from $815.00) while maintaining a Overweight rating.

The analyst comments "For 1Q24, US Zepbound revenue was $517MM vs. $363MM for FactSet. Zepbound is already annualizing at over... More

Huber Research Says Paramount Global (PARA) 'Appears Fully Valued', 'Remain Underweight'

April 30, 2024 10:37 AM EDT

Huber Research Says Paramount Global (NASDAQ: PARA) 'Appears Fully Valued'

"Stock Appears Fairly Valued at Our $12 Price Target, Remain Underweight"... More