Midday movers: Nvidia, Micron rise; Lennar, Tesla fall

Roth/MKM on Kroger (KR): '1Q Better than Feared - Upside not until 2H'

June 20, 2024 2:41 PM EDT

Roth/MKM analyst Bill Kirk reiterated a Neutral rating and $50.00 price target on Kroger (NYSE: KR).

The analyst ocmments "Kroger delivered a modest 1Q beat, with Grocery better than expected, but fuel profitability (-LSD) and Health & Wellness worse. Results (y/y) are... More

Tesla (TSLA) target cut at RBC Capital after revisiting robotaxi

June 20, 2024 9:39 AM EDT

RBC Capital analysts lowered their price target for Tesla (NASDAQ: TSLA) to $227 per share, down from $293 in a note Thursday, maintaining an Outperform rating on the stock.

This revision comes after the firm revisited its assumptions for Tesla's robotaxi business.

"We lower our TSLA robotaxi value and now allocate a bigger revenue share to Service Providers like Uber/Lyft," states... More

Vague Apple (AAPL) Comments Circulate

June 20, 2024 9:32 AM EDT

Vague Apple (NASDAQ: AAPL) Comments Circulate

Channel-check firm claims Q2 2024 iPhone sales growth yoy "accelerated" in China compared to Q1 2024 yoy growth data.... More

Kroger (KR) stock gains after topping Q1 earnings, revenue expectations

June 20, 2024 8:47 AM EDT

Kroger (NYSE: KR) shares climbed 2.92% premarket Thursday after the grocery chain reported first-quarter earnings and revenue that topped analyst expectations.

The company's adjusted earnings per share (EPS) came in at $1.43, exceeding the consensus estimate of $1.34. Revenue for the quarter was also a beat, coming in at $45.27 billion against the expected $44.93 billion.

Kroger's... More

Tesla (TSLA) PT Lowered to $227 at RBC Capital

June 20, 2024 7:24 AM EDT

RBC Capital analyst Tom Narayan lowered the price target on Tesla (NASDAQ: TSLA) to $227.00 (from $293.00) while maintaining a Outperform rating.

The analyst comments "Consistent with the work done by RBCs Internet Team, we lower our TSLA robotaxi value and now allocate a... More

RBC Capital Reiterates Underperform Rating on Lennar (LEN)

June 20, 2024 7:22 AM EDT

RBC Capital analyst Mike Dahl reiterated an Underperform rating and $145.00 price target on Lennar (NYSE: LEN).

The analyst comments "Our FY24E EPS declines -2% to $13.92 with FY25E -3% to $14.83, driven by worse GM% and SG&A%. While the 3Q GM% guide... More

Lennar (LEN) PT Lowered to $175 at BTIG

June 20, 2024 6:17 AM EDT

BTIG analyst Carl Reichardt Jr. lowered the price target on Lennar (NYSE: LEN) to $175.00 (from $177.00) while maintaining a Buy rating.

The analyst comments "LEN reported 2Q24 EPS of $3.45 ($3.38 adj for mark-to-market equities & sale of a tech investment) vs. our est. of $3.25 and consensus of $3.23. We were heartened by some progress on LEN's... More

Goldman Sachs Reiterates Buy Rating on Lennar (LEN)

June 20, 2024 5:08 AM EDT

Goldman Sachs analyst Susan Maklari reiterated a Buy rating and $180.00 price target on Lennar (NYSE: LEN)

The analyst comments "We come away from Lennar's F2Q earnings encouraged by ongoing progress towards an asset light model, with a consistent production pace to support... More

Lennar (LEN) PT Lowered to $237 at Evercore ISI

June 20, 2024 4:55 AM EDT

Evercore ISI analyst Stephen Kim lowered the price target on Lennar (NYSE: LEN) to $237.00 (from $238.00) while maintaining a Outperform rating.

The analyst comments "Lennar (LEN) reported 2Q24 (May) adjusted diluted EPS of $3.38, below our $3.44 estimate and above Street consensus of $3.23. All figures exclude a ~$25mm mark-to-market gain related to its investments in HIPO, SMRT, OPEN, NOVA, BLND and SOND. Overall, the companys results were in-line or modestly above... More

Micron Technology (MU) PT Raised to $185 at Fox Advisors

June 18, 2024 4:28 PM EDT

Fox Advisors analyst Steven Fox raised the price target on Micron Technology (NASDAQ: MU) to $185.00 while maintaining a Overweight rating.

The analyst comments "We raise our target on the shares of Micron (MU; $153.45; O/P) to $185 ahead of the companys FQ3 (May) results and... More

Tesla (TSLA) Master Plan 4 = Anything But Cars - Morgan Stanley

June 18, 2024 10:28 AM EDT

Morgan Stanley analysts warn that investors should prepare for a shift in Tesla's (NASDAQ: TSLA) focus beyond just electric vehicles (EVs).

They believe the upcoming Master Plan 4 (MP4) will reveal a strategic pivot towards "Anything But Cars" (ABC).

"Elon Musk seems to have acknowledged that China may have 'won' the battle for affordable... More

Morgan Stanley Positive on Tesla (TSLA)

June 18, 2024 9:22 AM EDT

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $310.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Amid bearish institutional investor sentiment, we reiterate our OW rating on Tesla with a $310 price target. Our thesis on Tesla... More