Midday movers: Goldman, Apple, Trump Media rise; SolarEdge falls

Tesla (TSLA) PT Raised to $225 at Barclays

Barclays analyst Dan Levy raised the price target on Tesla (NASDAQ: TSLA) to $225.00 (from $180.00) while maintaining a Equalweight rating.

The analyst comments "Key takes: 1. Expecting 2Q miss on Auto GM% we see at 16.0%; 2. 40bps q/q decline in margin to new trough... More

Morgan Stanley Reiterates Overweight Rating on Tesla (TSLA)

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

The analyst comments "We reiterate our OW rating on Tesla with a $310 price target. Our thesis on Tesla is that it is both an auto... More

Apple (AAPL) PT Raised to $260 at CFRA, 'We expect iPhone revenue to accelerate to at least 6%-8%'

CFRA analyst Angelo Zino raised the price target on Apple (NASDAQ: AAPL) to $260.00 (from $240.00) while maintaining a Buy rating.

The analyst comments "We up our 12-month target to $260 from $240, shifting to a P/E of 31x to our CY 26 EPS of $8.30,... More

iPhone volumes better than expected: JPMorgan

According to JPMorgan analysts, the global smartphone industry is showing signs of recovery, with iPhone shipments outperforming expectations in the second quarter of 2024.

The US investment bank said in a note Tuesday that the IDC's quarterly smartphone shipment tracker revealed a modest -1% sequential decline for 2Q24, which contrasts with the typical seasonality of a +2% increase.

Despite this decline, JPMorgan noted the... More

BlackRock (BLK) PT Raised to $910 at Argus

Argus analyst Stephen Biggar raised the price target on BlackRock (NYSE: BLK) to $910.00 (from $880.00) while maintaining a Buy rating.

The analyst comments "Raising target to $910 On July 15, BlackRock reported 2Q24 adjusted EPS of $10.36, up from $9.28 a year earlier and above the consensus of $9.96.... More

Baird Reiterates Outperform Rating on Tesla (TSLA) Ahead of Earnings, 'Buyers on Good Setup Into Robotaxi'

Baird analyst Ben Kallo reiterated an Outperform rating and $280.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Reiterate Outperform rating ahead of Q2 EPS. We are buyers of the stock ahead of Q2 EPS. We like the setup and... More

BlackRock (BLK) PT Raised to $920 at Evercore ISI

Evercore ISI analyst Glenn Schorr raised the price target on BlackRock (NYSE: BLK) to $920.00 (from $910.00) while maintaining a Outperform rating.

The analyst comments "Looking forward, BLK expressed confidence that L-T flows & organic base fee growth should improve from here, owing to: (1) the back-half of the year being seasonally strong (ETFs off to a good start in... More

Macy's (M) PT Lowered to $17 at Evercore ISI

Evercore ISI analyst Michael Binetti lowered the price target on Macy's (NYSE: M) to $17.00 (from $22.00) while maintaining a In Line rating.

The analyst comments "We increased our valuation for Macys stock when the activists launched knowing that the perceived success of an activist transaction would be... More

Apple (AAPL): iPhone cede incremental share in the month of June

UBS analysts highlighted a challenging month for Apple (NASDAQ: AAPL) iPhone sales, noting that the company saw minimal growth compared to its competitors in June, according to preliminary data from Counterpoint.

In their note, UBS pointed out that "iPhone unit sell-through was up roughly +1% in the month compared to global smartphone growth of ~4%," indicating a marginal performance that trailed the... More

Goldman Sachs (GS) PT Raised to $500 at RBC Capital, Maintains Sector Perform

RBC Capital analyst Gerard Cassidy raised the price target on Goldman Sachs (NYSE: GS) to $500.00 (from $435.00) while maintaining a Sector Perform rating.

The analyst comments "GS is a preeminent global investment bank with a leading position in the global markets, which... More

BlackRock (BLK) PT Lowered to $912 at Deutsche Bank

Deutsche Bank analyst Brian Bedell lowered the price target on BlackRock (NYSE: BLK) to $912.00 (from $924.00) while maintaining a Buy rating.

The analyst comments "Overall, we believe investors will continue to focus on when the firm will return to sustainable 5% organic base... More

Goldman Sachs (GS) PT Raised to $520 at Argus

Argus analyst Stephen Biggar raised the price target on Goldman Sachs (NYSE: GS) to $520.00 (from $465.00) while maintaining a Buy rating.

The analyst comments "Raising target to $520 following 2Q results On July 15, Goldman reported 2Q24 earnings of $8.62 per share, up from $3.08 a year earlier and above the... More

Wolfe Research Reiterates Underperform Rating on Cleveland-Cliffs (CLF) Following Bid for Stelco

Wolfe Research analyst Timna Tanners reiterated an Underperform rating and $12.00 price target on Cleveland-Cliffs (NYSE: CLF)

The analyst comments "STLC deal makes operating sense... Mon's announced US$2.5B acquisition of Stelco (STLC, not covered) makes strategic sense operationally, in our view, but adds operating leverage into what we consider a challenging sheet mkt outlook. Under the pending deal, CLF would pay C$70/shr for STLC, an 87% premium to its July 12 closing price, split between C$60/shr cash and C$10/shr equity at an 0.454... More

BlackRock (BLK) PT Raised to $935 at CFRA

CFRA analyst Catherine Seifert raised the price target on BlackRock (NYSE: BLK) to $935.00 (from $905.00) while maintaining a Buy rating.

The analyst comments "We raise our 12-month target price by $20 to $935, valuing BLK shares at 17.6x our newly initiated '26 adjusted EPS estimate of... More

Smartphone market rose in Q2 as Apple, Samsung benefit from premiumization trend - Reuters

Worldwide smartphone shipments increased by more than 6.5% in the second quarter, driven by Samsung Electronics and Apple (NASDAQ: AAPL), a report from Reuters said on Monday, citing preliminary data from IDC showed.

Despite the positives, a full recovery in demand is yet to arrive, adds Reuters, highlighting that it still remains challenged in some markets.

The publication said the research firm showed that global shipments grew for the fourth consecutive quarter as smartphone makers hope... More

Wolfe Research on Goldman Sachs (GS): '2Q24 First Look: Mixed Bag'

Wolfe Research analyst Steven Chubak reiterated a Peerperform rating on Goldman Sachs (NYSE: GS).

The analyst comments "GS 2Q Summary: GS reported 2Q EPS of $8.62; ex. specials / impact of businesses GS intends to exit, the firm noted core EPS of $8.41, compared to... More

Citi Reiterates Neutral Rating on Goldman Sachs (GS)

Citi analyst Keith Horowitz reiterated a Neutral rating and $460.00 price target on Goldman Sachs (NYSE: GS)

The analyst comments "Core results were largely in line as stronger top line (34c) and lower credit costs (30c) were offset by higher than expected expenses... More