Netflix, Trump nomination, outages - what's moving markets

Netflix (NFLX) PT Raised to $675 at Citi

Citi analyst Jason Bazinet raised the price target on Netflix (NASDAQ: NFLX) to $675.00 (from $660.00) while maintaining a Neutral rating.

The analyst comments "We are updating our model to reflect 2Q24 results and our latest outlook. Following our update, our estimates move modestly... More

Oppenheimer Reiterates Outperform Rating on CrowdStrike Holdings (CRWD), 'Removing from Top Picks'

Oppenheimer analyst Ittai Kidron reiterated an Outperform rating and $450.00 price target on CrowdStrike Holdings (NASDAQ: CRWD).

The analyst ocmments "We are removing CrowdStrike from our 2024 Top Picks. While we remain positive on the long-term opportunity, we expect shares to face continued pressure near-term as the company deals with the fallout of its defective software update and... More

Travelers (TRV) PT Lowered to $196 at Goldman Sachs

Goldman Sachs analyst Alex Scott lowered the price target on Travelers (NYSE: TRV) to $196.00 (from $202.00) while maintaining a Sell rating.

The analyst comments "Shares were -8% Friday following the release of 2Q24 earnings, as Business Insurance liability reserve additions accelerated versus 1Q24 ($250mn of adverse PYD in general liability lines from accident... More

RBC Capital Reiterates Sector Perform Rating on Travelers (TRV)

RBC Capital analyst Mark Dwelle reiterated a Sector Perform rating and $225.00 price target on Travelers (NYSE: TRV).

The analyst comments "Travelers Q2 results were weighed down by large catastrophe losses as evidenced by $1.5 billion in cat losses for Q2. Underlying margins improved... More

CrowdStrike Holdings (CRWD) PT Lowered to $380 at RBC Capital

RBC Capital analyst Matthew Hedberg lowered the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $380.00 (from $420.00) while maintaining a Outperform rating.

The analyst comments "While the outage could remain a near-term overhang, we believe CrowdStrike will emerge as a... More

Comerica (CMA) PT Lowered to $56 at RBC Capital

RBC Capital analyst Jon Arfstrom lowered the price target on Comerica (NYSE: CMA) to $56.00 (from $58.00) while maintaining a Outperform rating.

The analyst comments "We are recapping 2Q results. Core results were driven by solid fee, expense and credit trends, offset by noninterest... More

American Express (AXP) PT Raised to $267 at RBC Capital

RBC Capital analyst Jon Arfstrom raised the price target on American Express (NYSE: AXP) to $267.00 (from $265.00) while maintaining a Outperform rating.

The analyst comments "We are recapping 2Q results. This was a solid quarter with consistent revenues, controlled expenses, and stable credit... More

BTIG Downgrades CrowdStrike Holdings (CRWD) to Neutral

BTIG analyst Gray Powell downgraded CrowdStrike Holdings (NASDAQ: CRWD) from Buy to Neutral.

The analyst comments "On Friday 7/19, a CRWD software update caused a major global outage impacting businesses worldwide. After speaking with five senior security executives about the incident, we are downgrading CRWD shares to Neutral. In short, the feedback from our discussions was more... More

DA Davidson Reiterates Neutral Rating on Comerica (CMA), PT $55

DA Davidson analyst Peter Winter reiterated a Neutral rating and $55.00 price target on Comerica (NYSE: CMA).

The analyst comments "The solid core results were overshadowed by the announcement CMA will likely lose the Direct Express Business and $3.3B in average noninterest... More

CFRA Downgrades Travelers (TRV) to Hold

CFRA analyst Cathy Seifert downgraded Travelers (NYSE: TRV) from Buy to Hold with a price target of $225.00 (from $235.00).

The analyst comments "We cut our 12-month target price by $10 to $225, valuing TRV shares at 9.9x our newly initiated '26 operating EPS estimate of $22.80... More

Travelers (TRV) PT Raised to $236 at Evercore ISI

Evercore ISI analyst David Motemaden raised the price target on Travelers (NYSE: TRV) to $236.00 (from $233.00) while maintaining a Outperform rating.

The analyst comments "Bottom Line: A few one-offs driving the beats in BI (to just an in line ULR) and Personal... More

Wolfe Research on CrowdStrike Holdings (CRWD): 'many unknowns related to the impact on the brand'

Wolfe Research analyst Joshua Tilton reiterated a Peerperform rating on CrowdStrike Holdings (NASDAQ: CRWD).

The analyst comments "Our Take. While public cloud outages appear to have become a normal cost of doing business with the hyperscalers, the outage caused by the CRWD update is more severe than the cloud outages that organizations are accustomed to given that it... More

Travelers (TRV) PT Lowered to $210 at Morgan Stanley, 'we are less positive about the future share price performance'

Morgan Stanley analyst Bob Huang lowered the price target on Travelers (NYSE: TRV) to $210.00 (from $220.00) while maintaining a Equalweight rating.

The analyst comments "Operating EPS of $2.51 easily beat consensus of $2.17 driven by solid underlying loss ratio from all segments. That said, the linger... More

CrowdStrike Holdings (CRWD) PT Lowered to $350 at Evercore ISI

Evercore ISI analyst Peter Levine lowered the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $350.00 (from $405.00) while maintaining a Outperform rating.

The analyst comments "This is an unprecedented event and not something we or anyone had in their cards. First, this... More

Citi on CrowdStrike Holdings (CRWD): 'We see risk to billings and ARR', 'Reminiscent of Too Big to Fail'

Citi analyst Fatima Boolani reiterated a Buy rating and $425.00 price target on CrowdStrike Holdings (NASDAQ: CRWD).

The analyst comments "We see risk to billings and ARR on the heels of CRWDs widespread outage, where the roll-out of a defective software update to... More

BMO Capital on CrowdStrike Holdings (CRWD): 'we believe there will be financial consequences from this issue'

BMO Capital analyst Keith Bachman reiterated an Outperform rating and $410.00 price target on CrowdStrike Holdings (NASDAQ: CRWD).

The analyst comments "First, in our experience companies, and stocks, recover from technology challenges and breaches. However, we believe there will be financial consequences... More

Goldman Sachs Defending CrowdStrike Holdings (CRWD)

Goldman Sachs analyst Gabriela Borges reiterated a Buy rating and $400.00 price target on CrowdStrike Holdings (NASDAQ: CRWD).

The analyst comments "CrowdStrike is indicated down 13% in pre-market trading on July 19 post news overnight on a widespread outage of Microsoft systems globally, caused by a CrowdStrike update to a Falcon sensor. The outage, coupled with what appears to be an unrelated Microsoft Azure outage on Thursday for some customers in the central United States, has led to disruption of services at several airlines, financial institutions and businesses (WSJ). At 5:45am ET, George... More

Citi on Travelers (TRV): 'We expect a negative reaction'

Citi analyst Michael Ward reiterated a Sell rating and $200.00 price target on Travelers (NYSE: TRV).

The analyst comments "We expect a negative reaction from TRV today, primarily due to continued (unquantified) reserve deficiencies in general liability (GL) lines (more than offset by workers... More

Goldman Sachs Reiterates Sell Rating on Travelers (TRV)

Goldman Sachs analyst Alex Scott reiterated a Sell rating and $202.00 price target on Travelers (NYSE: TRV).

The analyst comments "TRV reported core income per diluted share of $2.51, beating Visible Alpha Consensus data of $2.08 and our $1.32 estimate. The beat was fairly broad-based, with underlying loss ratio beats across all segments... More

BMO Capital Out Positive on Travelers (TRV), 'Solid TRV EPS'

BMO Capital analyst Michael Zaremski reiterated an Outperform rating and $240.00 price target on Travelers (NYSE: TRV).

The analyst comments "Business Insurance & Personal Lines Pricing: Business Insurance (Main Commercial segment) rate decelerated 40 bps Q/Q (6.5% vs. 6.9%). BI renewal price change (RPC) decelerated 60 bps Q/Q (10.1% vs. 10.7%). In personal auto, personal lines RPC decelerated 90 bps Q/Q (15.8% vs. 16.7%) while homeowners' RPC accelerated 190 bps Q/Q (15.1% vs. 13.2%). Business... More

Netflix (NFLX) PT Raised to $695 at Macquarie

Macquarie analyst Tim Nollen raised the price target on Netflix (NASDAQ: NFLX) to $695.00 (from $685.00) while maintaining a Outperform rating.

The analyst comments "Q2 results largely beat expectations, with 8m sub adds, revenue growth of 17% and op margin of 27%. The Q3 outlook... More

Citi Reiterates Neutral Rating on American Express (AXP)

Citi analyst Keith Horowitz reiterated a Neutral rating and $250.00 price target on American Express (NYSE: AXP)

The analyst comments "AXP reported broad-based pressure on the top line as spend growth trends were softer than expected, but demonstrated flexibility on expenses to offset.... More

American Express (AXP) shares edge lower as Q2 revenue falls short of expectations

American Express (NYSE: AXP) reported a mixed financial performance in the second quarter, with earnings surpassing analyst expectations but revenue falling short.

The company's adjusted earnings per share (EPS) rose 21% to $3.49, exceeding the analyst estimate of $3.23. However, revenue for the quarter was $16.3 billion, not meeting the consensus estimate of $16.59 billion.

Despite the revenue shortfall, shares of American Express declined marginally by -1.9%, indicating a tempered response from investors to the company's revenue miss.

Chairman and CEO Stephen J. Squeri highlighted the... More

Rosenblatt Defending CrowdStrike Holdings (CRWD), 'Buying Opportunity'

Rosenblatt analyst Catherine Trebnick reiterated a Buy rating and $420.00 price target on CrowdStrike Holdings (NASDAQ: CRWD)

The analyst comments "Isolated Incident, Not a Systemic Issue: The outage stemmed from a single faulty update, not a fundamental flaw in CrowdStrike's platform. CEO George Kurtz... More

RBC Capital Reiterates Outperform Rating on Liberty Oilfield Services (LBRT)

RBC Capital analyst Keith Mackey reiterated an Outperform rating and $27.00 price target on Liberty Oilfield Services (NYSE: LBRT)

The analyst comments "Liberty reported solid EBITDA through a choppy 2Q24 macro. We have a favourable view of LBRT shares given the companys strong operational... More

Netflix (NFLX) PT Raised to $659 at Goldman Sachs

Goldman Sachs analyst Eric Sheridan raised the price target on Netflix (NASDAQ: NFLX) to $659.00 (from $650.00) while maintaining a Neutral rating.

The analyst comments "We recap NFLXs Q224 earnings report which reflected better-than-expected subscriber growth with a more mixed picture on forward revenue... More

Netflix (NFLX) PT Raised to $590 at Deutsche Bank

Deutsche Bank analyst Bryan Kraft raised the price target on Netflix (NASDAQ: NFLX) to $590.00 (from $575.00) while maintaining a Hold rating.

The analyst comments "We are reiterating our Hold rating, while increasing our PT to $590, from $575, driven by time-value-of-money appreciation since our last... More