Nvidia earnings, Fed minutes, UK inflation - what's moving markets

Seaport Global Securities Reiterates Buy Rating on Raymond James (RJF)

Seaport Global Securities analyst Jim Mitchell reiterated a Buy rating and $139.00 price target on Raymond James (NYSE: RJF).

The analyst comments "While relatively conservative financial targets were (not surprisingly) unchanged, RJFs investor day was upbeat, with management emphasizing its strong culture, technology and recruiting momentum... More

RBC Capital Positive on Microsoft (MSFT)

RBC Capital analyst Kash Rangan reiterated an Outperform rating and $500.00 price target on Microsoft (NASDAQ: MSFT)

The analyst comments "We went in-person to Microsoft Build, the annual flagship event for developers, where we listened to keynotes and breakout sessions, as well as gathered feedback from customers. We came away incrementally positive on Microsoft's commitment to maintaining AI leadership across multiple software categories. Taking Microsoft Fabric seriously. After keynotes, breakout sessions, and customer conversations, we believe Fabric can be a disruptive force in data analytics. Fabric is off to a good start with... More

Toll Bros. (TOL) PT Raised to $135 at Wolfe Research

Wolfe Research analyst Truman Patterson raised the price target on Toll Bros. (NYSE: TOL) to $135.00 (from $123.00) while maintaining a Outperform rating.

The analyst comments "Year-to-date, TOLs equity has increased +16%, outperforming the Homebuilder groups +4% gain and 11% S&P advance. In 2023, TOLs equity gained... More

Toll Bros. (TOL) PT Lowered to $133 at Citi

Citi analyst Anthony Pettinari lowered the price target on Toll Bros. (NYSE: TOL) to $133.00 (from $139.00) while maintaining a Neutral rating.

The analyst comments "TOL shares fell -8% on a down day for the Builders (-3%) despite a 4Q beat (EBT $650mm vs... More

NVIDIA (NVDA) PT Raised to $1,100 at Argus

Argus analyst Jim Kelleher raised the price target on NVIDIA (NASDAQ: NVDA) to $1,100.00 (from $950.00) while maintaining a Buy rating.

The analyst comments "Reaffirming BUY and raising target price to $1,100. Nvidia meaningfully exceeded aggressive consensus estimates for fiscal 1Q25, with revenue blowing by the... More

NVIDIA (NVDA) PT Raised to $1,400 at Cantor Fitzgerald

Cantor Fitzgerald analyst C.J. Muse raised the price target on NVIDIA (NASDAQ: NVDA) to $1,400.00 (from $1,200.00) while maintaining a Overweight rating.

The analyst comments "The midnight train of NVIDIA continues to execute to perfection and unlike that small town girl and city boy, Jensen knows exactly where he is going. The next industrial revolution has begun with companies and countries partnering with NVDA to accelerate compute in AI factories and deliver Artificial Intelligence. And aided by a world-class technology platform approach enabled by both hardware and software, coupled with annual cadence of technological improvements... More

Apple: iPhone shipments seen falling until iPhone 16 launch later in the year

According to data from Counterpoint Research, Apple (NASDAQ: AAPL) iPhone shipments are seen falling until the iPhone 16 is launched later in the year.

The firm said that in Europe, smartphone shipments finally resumed growth in the first quarter of 2024, although they are cautiously optimistic for the year... More

Toll Bros. (TOL) PT Raised to $300 at RBC Capital

RBC Capital analyst Mike Dahl raised the price target on Toll Bros. (NYSE: TOL) to $300.00 (from $295.00) while maintaining a Outperform rating.

The analyst comments "The 1Q comp improvement and ~30% EPS beat were somewhat overshadowed by the fact that revised guidance implies... More

HSBC Reiterates Buy Rating on NVIDIA (NVDA)

HSBC analyst Frank Lee reiterated a Buy rating and $1,350.00 price target on NVIDIA (NASDAQ: NVDA).

The analyst comments "NVIDIA's 1Q25 (Jan YE) sales of USD26bn beat consensus of USD24.7bn but were in-line with our estimate of USD26bn, along with... More

Goldman Sachs Reiterates Buy Rating on Microsoft (MSFT)

Goldman Sachs analyst Kash Rangan reiterated a Buy rating and $515.00 price target on Microsoft (NASDAQ: MSFT).

The analyst comments "Coming out of Microsoft Build, we continue to see Microsoft paving the path for democratized Gen-AI adoption as it builds out the ecosystem with innovations in all layers of the tech-stack. Given Microsofts prevalent offerings... More

Target (TGT) PT Lowered to $185 at UBS

UBS analyst Michael Lasser lowered the price target on Target (NYSE: TGT) to $185.00 (from $191.00) while maintaining a Buy rating.

The analyst comments "In our view, TGT's 1Q had more positives than negatives. As a result, we believe the pullback in the... More

NVIDIA (NVDA) PT Raised to $1,200 at UBS

UBS analyst Timothy Arcuri raised the price target on NVIDIA (NASDAQ: NVDA) to $1,200.00 (from $1,150.00) while maintaining a Buy rating.

The analyst comments "Results + guidance were well ahead of Street but were both as we previewed and met investor bogeys. More than the numbers though, several other factors skew the debate in a positive direction. 1) mgmt is subtly extending revenue visibility farther into the future with commentary that demand... More

Target (TGT) PT Lowered to $181 at RBC Capital

RBC Capital analyst Steven Shemesh lowered the price target on Target (NYSE: TGT) to $181.00 (from $191.00) while maintaining a Outperform rating.

The analyst comments "With the majority of the easy gross margin wins in the rearview, the focus, in our opinion, will shift... More

NVIDIA (NVDA) PT Raised to $1,250 at Wolfe Research

Wolfe Research analyst Chris Caso raised the price target on NVIDIA (NASDAQ: NVDA) to $1,250.00 (from $1,200.00) while maintaining a Outperform rating.

The analyst comments "NVDAs report came in as we had expected, a strong report with ~5% upside to JulQ revenue guidance vs.... More

Analog Devices (ADI) PT Raised to $230 at Wells Fargo

Wells Fargo analyst Gary Mobley raised the price target on Analog Devices (NASDAQ: ADI) to $230.00 (from $185.00) while maintaining a Equal Weight rating.

The analyst comments "Following ADI's above-cons results/guide we revise our FY25/26 above-cons ests modestly lower to account for a more... More

The TJX Companies (TJX) PT Raised to $100 at Wells Fargo

Wells Fargo analyst Ike Boruchow raised the price target on The TJX Companies (NYSE: TJX) to $100.00 (from $98.00) while maintaining a Equal Weight rating.

The analyst comments "Surprised by the magnitude of move, but results were pretty good. With the bar low,... More

Target (TGT) PT Lowered to $175 at Wells Fargo

Wells Fargo analyst Edward Kelly lowered the price target on Target (NYSE: TGT) to $175.00 (from $190.00) while maintaining a Overweight rating.

The analyst comments "Timing the recovery has gotten trickier with macro uncertainty, but it's tough to ignore the risk/reward at current levels with the stock at... More

NVIDIA (NVDA) PT Raised to $1,320 at BofA Securities

BofA Securities analyst Vivek Arya raised the price target on NVIDIA (NASDAQ: NVDA) to $1,320.00 (from $1,100.00) while maintaining a Buy rating.

The analyst comments "Reiterate Buy, top sector pick on NVDAs unparalleled combination of: 1) turnkey system design that we think can sustain 80%+... More

Analog Devices (ADI) PT Raised to $260 at BofA Securities

BofA Securities analyst Vivek Arya raised the price target on Analog Devices (NASDAQ: ADI) to $260.00 (from $225.00) while maintaining a Buy rating.

The analyst comments "FQ2 (April) sales were 3% ahead, marking the cycle bottom, with FQ3 (Jul) sales guided up 5.1% QoQ at $2.27bn, about... More

BofA Securities Reiterates Buy Rating on Target (TGT)

BofA Securities analyst Robert Ohmes reiterated a Buy rating and $190.00 price target on Target (NYSE: TGT)

The analyst comments "We reiterate our Buy. While near-term sales remain pressured, we believe TGTs focus on value positions it well for share gains going forward. Recently... More

NVIDIA (NVDA) PT Raised to $1,000 at Deutsche Bank

Deutsche Bank analyst Ross Seymore raised the price target on NVIDIA (NASDAQ: NVDA) to $1,000.00 (from $850.00) while maintaining a Hold rating.

The analyst comments "One year after one of the most stunning beats/raises in market history, NVDA delivered another now-trademark multi-billion... More

NVIDIA (NVDA) PT Raised to $900 at DA Davidson

DA Davidson analyst Gil Luria raised the price target on NVIDIA (NASDAQ: NVDA) to $900.00 (from $620.00) while maintaining a Neutral rating.

The analyst comments "NVIDIA reported strong 1Q25 earnings exceeding expectations across the board. We continue to believe that this year NVIDIA will... More

Market Intelligence Analyst Adam Crisafulli of Vital Knowledge Reacts to NVIDIA (NVDA) Earnings: 'dividend is so low it’s a wonder why they pay one at all'

Respected Analyst Adam Crisafulli of Vital Knowledge Reacts to NVIDIA (NASDAQ: NVDA) Earnings.

The analyst comments "NVDA (Nvidia) reported upside in FQ1, including sales +262% Y/Y to $26B (vs. the Street $24.69B) and EPS +461% Y/Y to 6.12 (vs. the Street 5.65). The critical Data Center unit saw sales surge 427% Y/Y to $22.6B (about $1.5B above the Streets $21.1B forecast). Within Data Center, Compute spiked 478% to $19.39B while Networking rose 242% to $3.1B. Strong sequential Data Center growth was driven by all customer types, led by Enterprise and Consumer Internet companies. Large cloud... More

Citi Out First to Recap NVIDIA (NVDA) Earnings

Citi analyst Atif Malik reiterated a Buy rating and $1,030.00 price target on NVIDIA (NASDAQ: NVDA).

The analyst comments "Fundamentals: NVDA reported Apr-Q revs/non-GAAP EPS (ex-SBC) of $26B/$6.12 vs. our $24B/$5.39 and Streets (FactSet) $24.6B/$5.60 and guided Jul-Q revenue to $28B (at MP) vs. our $27.5B and Streets $26.6B. Higher Hopper GPU... More

Analog Devices (ADI) PT Raised to $260 at JPMorgan

JPMorgan analyst Harlan Sur raised the price target on Analog Devices (NASDAQ: ADI) to $260.00 (from $220.00) while maintaining a Overweight rating.

The analyst comments "Analog Devices reported slightly better than expected revenues for its Apr-Qtr which largely reflected expected broad-based shipment declines as the team worked through excess inventories, and as anticipated, marked the bottom of this current downcycle as the team guided for Q/Q revenue growth going forward. As we had anticipated, after several quarters of undershipping consumption trends, the team believes customer inventory levels are beginning to normalize and the... More

Analog Devices (ADI) PT Raised to $250 at Citi

Citi analyst Christopher Danely raised the price target on Analog Devices (NASDAQ: ADI) to $250.00 (from $220.00) while maintaining a Buy rating.

The analyst comments "This morning, ADI reported results and provided guidance above the consensus as the Industrial (47% of F2Q24 sales) and Consumer (11%... More

Target (TGT) PT Lowered to $170 at Stifel

Stifel analyst Mark Astrachan lowered the price target on Target (NYSE: TGT) to $170.00 (from $177.00) while maintaining a Hold rating.

The analyst comments "Our F2024-F2025 estimates are largely unchanged following F1Q24 results where operating profit was ~2% below consensus. Despite the lower... More

Target (TGT) PT Lowered to $190 at DA Davidson

DA Davidson analyst Michael Baker lowered the price target on Target (NYSE: TGT) to $190.00 (from $195.00) while maintaining a Buy rating.

The analyst comments "Although TGTs valuation multiple is not overly demanding, the magnitude of TGTs margin and EPS beats over the... More

Analog Devices (ADI) PT Raised to $225 at Deutsche Bank

Deutsche Bank analyst Ross Seymore raised the price target on Analog Devices (NASDAQ: ADI) to $225.00 (from $200.00) while maintaining a Hold rating.

The analyst comments "After four quarters of sequential declines, ADIs better than expected F2Q/F3Q report/guide marked set a welcome cyclical trough and return to q/q growth. From an end market perspective, ADIs... More

Analog Devices (ADI) PT Raised to $280 at Jefferies

Jefferies analyst Blayne Curtis raised the price target on Analog Devices (NASDAQ: ADI) to $280.00 (from $250.00) while maintaining a Buy rating.

The analyst comments "Pointed to recovery across all businesses, a theme we expect to recur across Analog as we enter a... More

Target (TGT) PT Lowered to $160 at CFRA

CFRA analyst Arun Sundaram lowered the price target on Target (NYSE: TGT) to $160.00 (from $171.00) while maintaining a Hold rating.

The analyst comments "We cut our 12-month target to $160 from $171, 17x our FY 25 (Jan.) EPS of $9.44 (cut from $9.52; FY 26 up to $10.52 from $10.40) and... More

Analog Devices (ADI) PT Raised to $265 at Stifel

Stifel analyst Tore Svanberg raised the price target on Analog Devices (NASDAQ: ADI) to $265.00 (from $240.00) while maintaining a Buy rating.

The analyst comments "Solid beat & raise. Apr Q revs/GAAP EPS (ex-charges) were +2.8%/ +$0.14 vs. our estimates, and Jul Q guidance midpts. came in +7.0%/... More

CFRA Upgrades Urban Outfitters, Inc. (URBN) to Buy

CFRA analyst Zachary Warring upgraded Urban Outfitters, Inc. (NASDAQ: URBN) from Hold to Buy with a price target of $54.00 (from $36.00).

The analyst comments "We raise our 12-month target by $18 to $54, based on 15.0x our FY 25 (Jan.) EPS estimate and above the company's five-year... More

Analog Devices (ADI) PT Raised to $240 at CFRA

CFRA analyst Angelo Zino raised the price target on Analog Devices (NASDAQ: ADI) to $240.00 (from $193.00) while maintaining a Hold rating.

The analyst comments "We up our 12-month target to $240 from $193 on a P/E of 27.6x our CY 25 view of $8.69, above its five-year... More

KeyBanc Reiterates Sector Weight Rating on Target (TGT)

KeyBanc analyst Bradley Thomas reiterated a Sector Weight rating on Target (NYSE: TGT).

The analyst comments "TGT results remain challenged by the consumer environment but show ongoing improvement and should support positive comps in 2Q. 1Q results were mixed, reflecting soft but improving trends... More

Goldman Sachs Reiterates Conviction Buy Rating on Target (TGT)

Goldman Sachs analyst Kate McShane reiterated a Conviction Buy rating and $194.00 price target on Target (NYSE: TGT).

The analyst comments "TGT reported 1Q24 EPS of $2.03, below GS/consensus (Refinitiv) of $2.15/$2.06. SSS came in at -3.7%, in-line with consensus, including declines in traffic... More

BMO Capital Reiterates Market Perform Rating on Target (TGT)

BMO Capital analyst Kelly Bania reiterated a Market Perform rating and $170.00 price target on Target (NYSE: TGT).

The analyst comments "F1Q25 slightly missed consensus EPS on in-line comps. GM% beat but remained supported by channel mix and lean inventory... More

Telsey Reiterates Outperform Rating on Target (TGT)

Telsey analyst Joseph Feldman reiterated an Outperform rating and $195.00 price target on Target (NYSE: TGT).

The analyst comments "Target reported mixed 1Q24 results, with an inline comp of (3.7%), but slightly lower EPS of $2.03 vs. the FactSet consensus (FS) of $2.06 and our estimate of $2.10. The total comp of (3.7%) reflects a flattish... More

Stifel on Target (TGT): 'shares could underperform'

Stifel analyst Mark Astrachan reiterated a Hold rating and $177.00 price target on Target (NYSE: TGT).

The analyst comments "Target reported F1Q24 results with comp consistent with consensus and operating income slightly below consensus mainly due to higher D&A expenses. Comp declined 3.7%, consistent with consensus, with operating... More

Citi on Target (TGT): 'comments on the call about expenses could temper the declines'

Citi analyst Paul Lejuez reiterated a Buy rating and $180.00 price target on Target (NYSE: TGT).

The analyst comments "

TGT missed consensus EPS driven by higher SG&A while comps were inline and GM beat. Mgmt reiterated F24 guidance as the qtr was inline w/their... More

Morgan Stanley on Target (TGT) Decline Post Earnings Update: 'market questioning whether bull case EPS is possible'

Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating and $190.00 price target on Target (NYSE: TGT)

The analyst comments "Initial reaction to Q1'24: market questioning whether bull case EPS is possible. Q2'24 guidance seems good enough given recent stock pullback 1. Overall Q1'24 earnings were mostly in-line with GM better but SG&A worse. 2. While comp expectations for Q1 were subdued and in an appropriate range (minus 3 to minus 4), the market still expected... More

Roth/MKM on Target (TGT) Amid Stock 7%+ Decline Post Earnings: 'this print will be met with modest disappointment'

Roth/MKM analyst Bill Kirk reiterated a Neutral rating and $153.00 price target on Target (NYSE: TGT).

The analyst comments "With: 1) physical comparable store sales little improved throughout the boycott (1Q'24 -4.8% y/y vs. 2Q'23 - 4.3% y/y); 2) continued pressure on discretionary assortment; 3) increased... More

Urban Outfitters, Inc. (URBN) PT Raised to $50 at Baird

Baird analyst Mark Altschwager raised the price target on Urban Outfitters, Inc. (NASDAQ: URBN) to $50.00 (from $48.00) while maintaining a Neutral rating.

The analyst comments "Were raising our estimates, incorporating an FQ1 beat and ~unchanged earnings outlook for FQ2-4 (unexpected UO inventory... More

Target (TGT) stock drops on earnings miss

(Updated - May 22, 2024 9:42 AM EDT)

Target (NYSE: TGT) shares dropped more than 9% in early Wednesday trading, following its latest quarterly earnings, which saw it miss profit expectations.

The retailer reported Q1 EPS of $2.03, $0.03 worse than the analyst estimate of $2.06. Revenue for the quarter came in at $24.53 billion versus the consensus estimate of $24.51 billion.

In comparison to the same quarter last year, Target's revenue saw a decrease of 3.1%, with comparable sales declining by 3.7%. The company's digital comparable sales grew by 1.4%, with same-day... More

Citi Reiterates Neutral Rating on Urban Outfitters, Inc. (URBN)

Citi analyst Paul Lejuez reiterated a Neutral rating and $44.00 price target on Urban Outfitters, Inc. (NASDAQ: URBN)

The analyst comments "1Q EPS $0.69 were a solid beat vs cons $0.54 driven by stronger comps (+5% vs cons +3.5%) and GM (+110bps vs cons +30bps). Despite... More

BofA Securities Reiterates Buy Rating on Urban Outfitters, Inc. (URBN)

BofA Securities analyst Lorraine Hutchinson reiterated a Buy rating and $52.00 price target on Urban Outfitters, Inc. (NASDAQ: URBN)

The analyst comments "URBN posted a nice beat, with strong sales growth at Anthropologie & Free People (FP) but continued weakness at Urban (UO).... More

UBS Reiterates Buy Rating on Toll Bros. (TOL)

UBS analyst John Lovallo reiterated a Buy rating and $140.00 price target on Toll Bros. (NYSE: TOL).

The analyst comments "TOL expects FY3Q deliveries of 2,750-2,850 units (UBSe/Cons. of 2,708/2,758), delivery ASP of $950K-$960K (UBSe/Cons. of $933K/$933K), adjusted home sales gross margin of 27.7%... More

Goldman Sachs Reiterates Buy Rating on Microsoft (MSFT)

Goldman Sachs analyst Kash Rangan reiterated a Buy rating and $515.00 price target on Microsoft (NASDAQ: MSFT)

The analyst comments "After attending Microsoft Build Day 1, we leave increasingly constructive that MSFT continues to be in an industry-leading position that can shape the adoption of GenAI across the tech stack. Our main takeaways from... More

Wells Fargo Reiterates Overweight Rating on Microsoft (MSFT)

Wells Fargo analyst Michael Turrin reiterated an Overweight rating and $500.00 price target on Microsoft (NASDAQ: MSFT)

The analyst comments "GitHub creating AI ecosystem; new features announced: Fitting for its annual dev event, MSFT announced GitHub Copilot is the most widely adopted AI... More