Dow Jones, Nasdaq, S&P 500 weekly preview: Spotlight on GDP, PCE data and earnings

Coca-Cola (KO) PT Raised to $75 at Argus

Argus analyst Christopher Graja raised the price target on Coca-Cola (NYSE: KO) to $75.00 (from $72.00) while maintaining a Buy rating.

The analyst comments " KO shares have underperformed the S&P 500 over the past quarter, rising 7% compared to gains of 10% for the index and 1% for the... More

Piper Sandler Comments on Tesla (TSLA) 10Q: 'We're not sure why, but warranty expense totaled 4.1% of revenue in 2Q24'

Piper Sandler analyst Alexander Potter reiterated an Overweight rating and $300.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "TSLA published its 10Q earlier than expected and, as a result, we had the opportunity to dig deeper on automotive gross margin,... More

Visa (V) PT Lowered to $279 at BofA Securities

BofA Securities analyst Jason Kupferberg lowered the price target on Visa (NYSE: V) to $279.00 (from $297.00) while maintaining a Neutral rating.

The analyst comments "Our recent downgrade to Neutral was not an explicit call on the quarter, but in our view the print... More

Texas Instruments (TXN) PT Raised to $225 at BofA Securities

BofA Securities analyst Vivek Arya raised the price target on Texas Instruments (NASDAQ: TXN) to $225.00 (from $220.00) while maintaining a Neutral rating.

The analyst comments "We reiterate our Neutral rating Q2 results and Q3 sales were inline and TXN announced a special capital... More

Barclays Reiterates Overweight Rating on Visa (V), PT $319

Barclays analyst Ramsey El-Assal reiterated an Overweight rating and $319.00 price target on Visa (NYSE: V).

The analyst comments "Key takeaway: V reported a slight FQ3 miss, with net revenues of $8.9B (vs. $9.0B Street), adj. EBIT of $5,973M (vs. $6,017M Street), and adj. EPS of $2.42 (vs. $2.43... More

New Street Research Downgrades Tesla (TSLA) to Neutral, PT $225, 'We see limited (and unreliable) valuation upside'

New Street Research analyst Pierre Ferragu downgraded Tesla (NASDAQ: TSLA) from Buy to Neutral with a price target of $225.00.

The analyst comments "Deliveries recovered at a cost, increasing by 15% QoQ, but with gross margins, ex. credits & leasing, down 1.7pts. Volume increase and cost reductions offset... More

Canaccord Genuity Reiterates Buy Rating on Tesla (TSLA)

Canaccord Genuity analyst George Gianarikas reiterated a Buy rating and $254.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Teslas 2Q24 earnings results were mostly uneventful after the delivery announcement earlier this month. Yes, auto gross margins were weaker than expected but were likely impacted by $622M in restructuring costs. We were also looking for meaningful metrics and color around FSD take rates after recent price... More

Loop Capital Reiterates Hold Rating on Alphabet (GOOGL)

Loop Capital analyst Alan Gould reiterated a Hold rating and $170.00 price target on Alphabet (NASDAQ: GOOGL).

The analyst comments "Google reported solid 2Q results with upside in Search, momentum in Cloud, softness at YouTube ads and a surprisingly large miss from Network ads.... More

MoffettNathanson Reiterates Buy Rating on Alphabet (GOOGL)

MoffettNathanson analyst Michael Nathanson reiterated a Buy rating and $205.00 price target on Alphabet (NASDAQ: GOOGL).

The analyst comments "We think that the market is making an error in two places. First, not all search activity is alike there are commercial searches... More

Stifel Reiterates Hold Rating on Texas Instruments (TXN)

Stifel analyst Tore Svanberg reiterated a Hold rating and $200.00 price target on Texas Instruments (NASDAQ: TXN)

The analyst comments " Overall, we maintain our Hold rating on TXN given our view that such puts and takes are largely priced in,... More

Rosenblatt Reiterates Neutral Rating on Alphabet (GOOGL)

Rosenblatt analyst Barton Crockett reiterated a Neutral rating and $181.00 price target on Alphabet (NASDAQ: GOOGL).

The analyst comments "We downgraded Alphabet to NEUTRAL on 6/28, seeing multiple areas of transition risk. 2Q24 eased concerns of transitional revenue risk from the ramp of AI... More

Goldman Sachs Reiterates Buy Rating on Alphabet (GOOGL)

Goldman Sachs analyst Eric Sheridan reiterated a Buy rating and $211.00 price target on Alphabet (NASDAQ: GOOGL)

The analyst comments "We expect the market to have a muted reaction to Alphabets Q224 earnings report upon our first read/analysis of the results. In terms of upside, we would point to Search & Other revenue (against persistent investor fears of disruption and/or macroeconomic headwinds), Google Cloud revenue, Services Operating Income margin and... More

JPMorgan Reiterates Underweight Rating on Tesla (TSLA)

JPMorgan analyst Ryan Brinkman reiterated an Underweight rating and $115.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "2Q automotive adjusted gross margin and free cash flow also tracked softer, implying negative earnings revision risk. Also pointing to the trend in softer underlying results indicating the risk of... More

Roth/MKM Reiterates Neutral Rating on Tesla (TSLA), PT $85, 'CyberCab Outlook for a Steering Wheel is Bearish for the Stock

Roth/MKM analyst Craig Irwin reiterated a Neutral rating and $85.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "Tesla's missed adj-EPS consensus by ($0.10) and adj-auto gross margins by (200 bps). This likely refocuses investors on sustained headwinds from vehicle discounting necessary to drive... More

Cantor Fitzgerald Reiterates Neutral Rating on Texas Instruments (TXN)

Cantor Fitzgerald analyst C.J. Muse reiterated a Neutral rating and $210.00 price target on Texas Instruments (NASDAQ: TXN)

The analyst comments "On the surface, Texas Instruments offered a better-than-feared report with guidance in line with consensus ($4.10B/$1.36 vs. cons $4.10B/$1.36) following the more negative guide from NXPI. Here, we highlight strength in the June Q from Personal Electronics, Enterprise, and Other (Calculators/ DLP). On the other hand, we note Industrial and Automotive declined LSD Q/Q and MSD Q/Q, respectively. Specific to Industrial, more than ½ of the sub-segments have bottomed while the... More

Visa (V) PT Lowered to $319 at Citi

Citi analyst Ashwin Shirvaikar lowered the price target on Visa (NYSE: V) to $319.00 (from $321.00) while maintaining a Buy rating.

The analyst comments "The focal point of Visa earnings was a deceleration in July QTD trends (3 weeks), not surprising based on prior investor conversations... More

Jefferies Reiterates Hold Rating on Tesla (TSLA)

Jefferies analyst Philippe Houchois reiterated a Hold rating and $165.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "Q2 results mostly confirmed the growing importance of storage (16% of gross profit) and a return to +ve FCF ($1.3bn) on modest WC reversal and... More

Baird Reiterates Outperform Rating on Tesla (TSLA)

Baird analyst Ben Kallo reiterated an Outperform rating and $260.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Reiterate Outperform rating. Short-term weakness in auto margins (ex-credits) and bottom-line miss (due largely to higher opex and restructuring) will weigh on the... More

Stifel Reiterates Buy Rating on Tesla (TSLA)

Stifel analyst Stephen Gengaro reiterated a Buy rating and $265.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "TSLA's 2Q24 release is a mixed bag and could weigh on the shares following the recent strength. Bears will likely focus on: 1) Auto... More

UBS Reiterates Sell Rating on Tesla (TSLA)

UBS analyst Joseph Spak reiterated a Sell rating and $197.00 price target on Tesla (NASDAQ: TSLA)

The analyst comments "TSLA is being priced on future optionality TSLA is not being priced on auto (or arguably even Energy) but autonomy and AI. TSLA is working on AI initiatives such as robo-taxi and Optimus humanoid robots.... More

Wells Fargo Reiterates Underweight Rating on Tesla (TSLA), PT $120

Wells Fargo analyst Colin Langan reiterated an Underweight rating and $120.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "How do we expect the stock to trade? We expect the stock to trade down. TSLA's Q2 earnings result was low quality;... More

Texas Instruments (TXN) PT Raised to $230 at JPMorgan

JPMorgan analyst Harlan Sur raised the price target on Texas Instruments (NASDAQ: TXN) to $230.00 (from $195.00) while maintaining a Overweight rating.

The analyst comments "Texas Instruments delivered solid Jun-Qtr results (in-line revenue with better margins/earnings) reflecting the start of the cyclical recovery off of the Mar-Qtr bottom. The end markets/geographies that were first to enter into this downcycle (i.e. personal electronics, enterprise, some subsegments in industrial, and the China geography) are now returning to seasonal demand patterns and growing while end markets that were last to enter down-cycle like Auto and some... More

Texas Instruments (TXN) PT Raised to $255 at Evercore ISI, 'We Remain Buyers'

Evercore ISI analyst Mark Lipacis raised the price target on Texas Instruments (NASDAQ: TXN) to $255.00 (from $225.00) while maintaining a Outperform rating.

The analyst comments "In-Line/Slight Miss, But Early Signals of Snapback. Our conviction in TXN as a top pick increases post an in-line/slight miss 2Q24 print, as a number of signals indicate TXN is poise to print a material snapback in earnings within the next 2-to-3 quarters. We continue to... More

Coca-Cola (KO) PT Raised to $72 at CFRA

CFRA analyst Garrett Nelson raised the price target on Coca-Cola (NYSE: KO) to $72.00 (from $68.00) while maintaining a Buy rating.

The analyst comments "We increase our 12-month target by $4 to $72, based on a '25 P/E of 23.6x, a discount to KO's... More

Google talks to cybersecurity firm Wiz break down - WSJ

Google's discussions regarding the potential acquisition of cybersecurity startup Wiz for a planned $23 billion have fallen apart, according to a report by The Wall Street Journal on Tuesday.

The WSJ said that in an email to employees sent Monday, which it had viewed, Wiz Chief Executive Assaf Rappaport stated the company is now seeking an initial public offering.

He reportedly wrote: "Wizards, I know the last week has been intense, with the buzz about a potential acquisition."

"While we are flattered by offers we have received, we... More

Coca-Cola (KO) raises 2024 guidance, Q2 earnings and revenue tops estimates

(Updated - July 23, 2024 8:14 AM EDT)

Coca-Cola (NYSE: KO) revealed its second-quarter 2024 earnings, surpassing analyst expectations with an adjusted EPS of $0.84, $0.04 higher than the consensus estimate of $0.80.

Revenue also exceeded forecasts, reaching $12.4 billion against the anticipated $11.77 billion. The beverage giant's stock showed a marginal decline of 0.1% following the announcement.

The company's net revenues saw a 3% increase, with organic revenues... More

Coca-Cola (KO) EPS preview

Morgan Stanley analysts have reiterated their Overweight rating on Coca-Cola (NYSE: KO), forecasting upside in both organic sales growth (OSG) and earnings per share (EPS) for Q2 2024.

The investment bank sees Coca-Cola raising its FY24 EPS guidance, supported by strong fundamentals and international market exposure.

The bank's analysts also predict Coca-Cola will post solid 2Q results, with expectations of OSG and EPS outperforming consensus estimates.... More