Fed meeting, Amazon results, struggling US consumers - what's moving markets

DoorDash Inc. (DASH) PT Raised to $144 at Citi

Citi analyst Ronald Josey raised the price target on DoorDash Inc. (NASDAQ: DASH) to $144.00 (from $141.00) while maintaining a Buy rating.

The analyst comments "Although the debate post 1Q is likely to revolve around visibility and investments given 2Q24E GOV guidance was in-line... More

Qualcomm (QCOM) PT Raised to $200 at Wolfe Research

Wolfe Research analyst Chris Caso raised the price target on Qualcomm (NASDAQ: QCOM) to $200.00 (from $180.00) while maintaining a Outperform rating.

The analyst comments "Net. QCOM posted an inline MarQ and JunQ guidance (Rev -2% q/q) beat expectations. Unlike SWKS yesterday, QCOM... More

Qualcomm (QCOM) PT Raised to $175 at UBS

UBS analyst Timothy Arcuri raised the price target on Qualcomm (NASDAQ: QCOM) to $175.00 (from $165.00) while maintaining a Neutral rating.

The analyst comments "Despite a smartphone market still struggling a bit to recover, QCOM posted stronger than expected June guidance, though its not obvious that Street numbers in C2H will move higher. On the core handset side, this is... More

Qualcomm (QCOM) PT Raised to $172 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the price target on Qualcomm (NASDAQ: QCOM) to $172.00 (from $158.00) while maintaining a Equalweight rating.

The analyst comments "Overall, Qualcomm delivered good results, particularly given what has become a challenging smartphone supply chain. Qualcomm does face challenges... More

Qualcomm (QCOM) PT Raised to $206 at Canaccord Genuity

Canaccord Genuity analyst T. Michael Walkley raised the price target on Qualcomm (NASDAQ: QCOM) to $206.00 (from $180.00) while maintaining a Buy rating.

The analyst comments "With on-device generative AI, a strong product roadmap for all its business units, strong cost discipline, and normalized Android smartphone inventory levels, we anticipate... More

Qualcomm (QCOM) PT Raised to $220 at Bernstein SocGen Group

Bernstein SocGen Group analyst Stacy Rasgon raised the price target on Qualcomm (NASDAQ: QCOM) to $220.00 (from $200.00) while maintaining a Outperform rating.

The analyst comments "Given the state of some recent peer reports we believe there was some nervousness around Qualcomm into this... More

Qualcomm (QCOM) PT Raised to $180 at Mizuho

Mizuho analyst Vijay Rakesh raised the price target on Qualcomm (NASDAQ: QCOM) to $180.00 (from $160.00) while maintaining a Buy rating.

The analyst comments "QCOM reported a good MarQ and guided JunQ topline to $9.2B, down 2% q/q (above cons $9B) with IoT, Autos momentum and... More

Qualcomm (QCOM) PT Raised to $185 at Piper Sandler

Piper Sandler analyst Harsh Kumar raised the price target on Qualcomm (NASDAQ: QCOM) to $185.00 (from $165.00) while maintaining a Overweight rating.

The analyst comments "QCOM reported solid results nicely beating street expectations and also coming out ahead on the guidance for June. In the... More

Qualcomm (QCOM) PT Raised to $180 at BofA Securities

BofA Securities analyst Tal Liani raised the price target on Qualcomm (NASDAQ: QCOM) to $180.00 (from $173.00) while maintaining a Buy rating.

The analyst comments "2Q revenues grew 1.3% YoY vs. Streets 0.5% on QCT (semiconductors) revenues up 1.1% YoY vs. Streets 0.8% and QTL (licensing) up 2.2%... More

CVS Health (CVS) PT Lowered to $77 at BofA Securities

BofA Securities analyst Michael Cherny lowered the price target on CVS Health (NYSE: CVS) to $77.00 (from $95.00) while maintaining a Buy rating.

The analyst comments "Shares of CVS currently trade at 8x earnings, implying investors have substantial doubt the company can... More

DoorDash Inc. (DASH) PT Lowered to $118 at Roth/MKM

Roth/MKM analyst Rohit Kulkami lowered the price target on DoorDash Inc. (NASDAQ: DASH) to $118.00 (from $121.00) while maintaining a Neutral rating.

The analyst comments "DASH was down -15% last night as the company reported a mixed-bag quarter with slight upside to 1Q... More

CVS Health (CVS) stock tumbles as earnings, guidance miss expectations

(Updated - May 1, 2024 11:42 AM EDT)

CVS Health (NYSE: CVS) reported a decline in first-quarter profits and slashed its full-year earnings outlook, sending shares down more than 17% Wednesday as both earnings and revenue fell short of Wall Street expectations. The healthcare giant posted adjusted earnings per share (EPS) of $1.33 for the quarter, which was significantly below the analyst consensus of $1.71. Revenue for the quarter was $88.4 billion, also missing the consensus estimate of $89.33 billion.

The company's first-quarter revenue saw a 3.7% increase compared to the same period last year, driven by growth in the Health Care... More

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

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

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

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

Amazon.com (AMZN) PT Raised to $246 at MoffettNathanson

MoffettNathanson analyst Michael Morton raised the price target on Amazon.com (NASDAQ: AMZN) to $246.00 (from $230.00) while maintaining a Buy rating.

The analyst comments "We are comfortable with revenue assumptions and think a focus on Amazons cost centers is the opportunity... More

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

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

Starbucks (SBUX) PT Lowered to $85 at UBS

UBS analyst Dennis Geiger lowered the price target on Starbucks (NASDAQ: SBUX) to $85.00 (from $95.00) while maintaining a Neutral rating.

The analyst comments "Pressured F2Q results included depressed global sss and margin & earnings downside, while SBUX highlighted strategic plans to support an improved sales... More

JPMorgan Upgrades 3M (MMM) to Overweight

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

Starbucks (SBUX) PT Lowered to $100 at BTIG

BTIG analyst Peter Saleh lowered the price target on Starbucks (NASDAQ: SBUX) to $100.00 (from $115.00) while maintaining a Buy rating.

The analyst comments "Starbucks posted the weakest quarter in recent history with traffic plummeting as the occasional, more value-oriented customer retreated.... More

Amazon.com (AMZN) PT Raised to $210 at Roth/MKM

Roth/MKM analyst Rohit Kulkarni raised the price target on Amazon.com (NASDAQ: AMZN) to $210.00 (from $205.00) while maintaining a Buy rating.

The analyst comments "AMZN reported an impressive 1Q beat with revenue coming close to high-end guide and op income materially... More