Midday movers: Coca-Cola, Spotify rise; UPS, Comcast fall

General Motors (GM) PT Raised to $54 at Argus

Argus analyst William Selesky raised the price target on General Motors (NYSE: GM) to $54.00 (from $52.00) while maintaining a Buy rating.

The analyst comments "Raising price target to $54 On July 23, General Motors reported an adjusted 2Q24 net profit of $3.510 billion or $3.06 per diluted share, up... More

DA Davidson Upgrades Polaris Industries (PII) to Buy 'After Prudent FY24 EPS Guidance Cut'

DA Davidson analyst Brandon Rolle upgraded Polaris Industries (NYSE: PII) from Neutral to Buy with a price target of $87.00.

The analyst comments "We are upgrading PII shares to BUY with a $87 PT, after the company prudently reset FY24 EPS expectations and a recent... More

Coca-Cola (KO) PT Raised to $70 at Truist Securities

Truist Securities analyst Bill Chappell raised the price target on Coca-Cola (NYSE: KO) to $70.00 (from $65.00) while maintaining a Buy rating.

The analyst comments "This is a follow up from our note published yesterday (see note here). We are maintaining our FY24 sales... More

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

General Motors (GM) cut at Morgan Stanley on minimal upside

Morgan Stanley downgraded General Motors (NYSE: GM) from Overweight to Equal-weight in a note Wednesday, citing limited upside potential.

Despite raising the price target from $46 to $47, analysts believe the stock's recent performance has largely discounted the upside.

"GM's improved capital discipline and execution has driven $10 of EPS, making it the best performing major OEM year-to-date and... More

Danaher (DHR) PT Raised to $300 at Argus

Argus analyst John Eade raised the price target on Danaher (NYSE: DHR) to $300.00 while maintaining a Buy rating.

The analyst comments "Our BUY rating on Danaher Corp. (NYSE: DHR) reflects our view that Danaher is well... More

Barclays Reiterates Overweight Rating on NXP Semiconductors NV (NXPI), PT $330

Barclays analyst Blayne Curtis reiterated an Overweight rating and $330.00 price target on NXP Semiconductors NV (NASDAQ: NXPI).

The analyst comments "Inventory at Auto OEMs is taking longer to work down but that is largely offset by better company specific drivers. We think that... More

Loop Capital Reiterates Buy Rating on Comcast Corp (CMCSA)

Loop Capital analyst Alan Gould reiterated a Buy rating and $54.00 price target on Comcast Corp (NASDAQ: CMCSA)

The analyst comments "Broadband sub losses were less than anticipated, but ACP had a minimal impact on 2Q results. Overall revenue missed at the media side,... More

BofA Securities Reiterates Buy Rating on NXP Semiconductors NV (NXPI)

BofA Securities analyst Vivek Arya reiterated a Buy rating and $320.00 price target on NXP Semiconductors NV (NASDAQ: NXPI).

The analyst comments "Maintain Buy, top autos pick as we believe despite a muted Q3 outlook NXPI management has delivered best-in-class operational execution during the current... More

BofA Securities Reiterates Buy Rating on GE Aerospace (GE)

BofA Securities analyst Ronald J. Epstein reiterated a Buy rating and $180.00 price target on GE Aerospace (NYSE: GE).

The analyst comments "GE raised its full year EPS outlook, expecting EPS of $3.95-$4.20 up from the previous $3.80-$4.05. This is driven mainly by... More

Crown Holdings (CCK) PT Raised to $100 at Citi

Citi analyst Anthony Pettinari raised the price target on Crown Holdings (NYSE: CCK) to $100.00 (from $94.00) while maintaining a Buy rating.

The analyst comments "Shares jumped +9% following a beat & raise as surging bev can demand more than offset weakness in Transit.... More

Citi Reiterates Sell Rating on NXP Semiconductors NV (NXPI)

Citi analyst Christopher Danely reiterated a Sell rating and $220.00 price target on NXP Semiconductors NV (NASDAQ: NXPI).

The analyst comments "Yesterday, NXPI reported in-line results but lowered C24 guidance as the inventory correction in the Auto end market (55% of 2Q24 sales) is... More

Spotify (SPOT) PT Raised to $399 at Rosenblatt

Rosenblatt analyst Barton Crockett raised the price target on Spotify (NYSE: SPOT) to $399.00 (from $396.00) while maintaining a Buy rating.

The analyst comments " Key Variances -- Revenues of 3,807 million matched guidance, but rose only 21% Y/Y constant currency, versus guidance for 22%. Premium subs grew 7... More

Cantor Fitzgerald Reiterates Overweight Rating on NXP Semiconductors NV (NXPI), 'NXPI remains a Top Pick'

Cantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating and $350.00 price target on NXP Semiconductors NV (NASDAQ: NXPI)

The analyst comments "To start, we would be buyers of NXPI on this weakness. We understand the trade-off given the current Semi landscape and sub-seasonal guide (guided +4% in 3Q vs. seasonal +6%), but we think this is only a very near-term hiccup. In short, inventory digestion amongst select Tier1 Auto OEMs is taking longer than anticipated and the Core Industrial business continues to be weak (also leading to a more-muted 2H channel fill vs.... More

Coca-Cola (KO) PT Raised to $68 at RBC Capital

RBC Capital analyst Nik Modi raised the price target on Coca-Cola (NYSE: KO) to $68.00 (from $65.00) while maintaining a Outperform rating.

The analyst comments "Another strong quarter for KO, delivering top line strength, volume momentum, with high quality earnings. Back half guidance... More

Polaris Industries (PII) PT Lowered to $82 at RBC Capital

RBC Capital analyst Joseph Spak lowered the price target on Polaris Industries (NYSE: PII) to $82.00 (from $97.00) while maintaining a Sector Perform rating.

The analyst comments "Polaris Inc. ("Polaris") reported Q2 results that were below RBC/consensus expectations, while 2024 guidance was lowered and 2026... More

Lockheed Martin (LMT) PT Raised to $500 at RBC Capital

RBC Capital analyst Ken Herbert raised the price target on Lockheed Martin (NYSE: LMT) to $500.00 (from $470.00) while maintaining a Sector Perform rating.

The analyst comments "Lockheed Martin (LMT) reported 2Q24 results ahead of consensus estimates with EPS of $7.11 beating by 10%.... More

RBC Capital Reiterates Outperform Rating on Kimberly Clark (KMB)

RBC Capital analyst Nik Modi reiterated an Outperform rating and $165.00 price target on Kimberly Clark (NYSE: KMB).

The analyst comments "We see 2Q'24 as an example of KMB's new strategy at work given outsized EPS delivery in the face of pulp... More

GE Aerospace (GE) PT Raised to $190 at RBC Capital

RBC Capital analyst Ken Herbert raised the price target on GE Aerospace (NYSE: GE) to $190.00 (from $175.00) while maintaining a Outperform rating.

The analyst comments "GE Aerospace (GE) posted strong 2Q24 results, with total adj. EPS of $1.20 (compared to consensus of $0.99) and... More

Lockheed Martin (LMT) PT Raised to $540 at Deutsche Bank

Deutsche Bank analyst Scott Deuschle raised the price target on Lockheed Martin (NYSE: LMT) to $540.00 (from $487.00) while maintaining a Hold rating.

The analyst comments "To be clear, we're not looking to overdo our enthusiasmafter all, part of 2Q margin beat was driven off... More

Morgan Stanley Downgrades General Motors (GM) to Equalweight

Morgan Stanley analyst Adam Jonas downgraded General Motors (NYSE: GM) from Overweight to Equalweight with a price target of $47.00 (from $46.00).

The analyst comments "GM's fundamental improvements in capital discipline have not been ignored by the stock market. During the UAW strike of... More

TD Cowen Upgrades Lockheed Martin (LMT) to Buy

TD Cowen analyst Cai von Rumohr upgraded Lockheed Martin (NYSE: LMT) from Hold to Buy with a price target of $560.00 (from $480.00).

The analyst comments "Strong Q2, F-35 delivery restart, and the #1 FMS/munitions play give LMT enhanced visibility of ~5% sales... More

Danaher (DHR) PT Raised to $275 at BofA Securities

BofA Securities analyst Michael Ryskin raised the price target on Danaher (NYSE: DHR) to $275.00 (from $270.00) while maintaining a Neutral rating.

The analyst comments "Bioprocess market dynamics improved in the qtr, with most excess inventory having worked through the system and customers returning to normal... More

Polaris Industries (PII) PT Lowered to $85 at BofA Securities

BofA Securities analyst Alex Perry lowered the price target on Polaris Industries (NYSE: PII) to $85.00 (from $86.00) while maintaining a Neutral rating.

The analyst comments "Polaris (PII) reported 2Q EPS of $1.38 (vs. our $2.39) given a 6% decline in off-road sales, 19% decline in on-road sales, and... More

General Motors (GM) PT Raised to $61 at JPMorgan

JPMorgan analyst Ryan Brinkman raised the price target on General Motors (NYSE: GM) to $61.00 (from $60.00) while maintaining a Overweight rating.

The analyst comments "We are reiterating our Overweight rating on GM shares after the automaker reported strongly better 2Q results Tuesday, which along with GMs strongly better than expected 2024 outlook introduced in January, strongly better than expected 1Q beat, unexpected guidance increase at the time of 1Q24 earnings, and unexpected second raise to full-year 2024 guidance today in as many quarters reveal GMs $10 bn accelerated share repurchase program announced last October and subsequent follow-on... More

Polaris Industries (PII) PT Lowered to $79 at Roth/MKM

Roth/MKM analyst Scott Stember lowered the price target on Polaris Industries (NYSE: PII) to $79.00 (from $92.00) while maintaining a Neutral rating.

The analyst comments "We remain Neutral on PII following a quarter which saw increased retail headwinds, elevated promo... More

Polaris Industries (PII) PT Lowered to $83 at Citi

Citi analyst James Hardiman lowered the price target on Polaris Industries (NYSE: PII) to $83.00 (from $86.00) while maintaining a Neutral rating.

The analyst comments "While retail trends have gotten marginally worse over the past few months, the bigger pivot appears to be with... More

Comcast Corp (CMCSA) PT Lowered to $46 at Evercore ISI

Evercore ISI analyst Vijay Jayant lowered the price target on Comcast Corp (NASDAQ: CMCSA) to $46.00 (from $48.00) while maintaining a Outperform rating.

The analyst comments "After months of investor debates over the dreaded impacts of the ACP sunset, the roll-off seemed to... More

UPS (UPS) PT Lowered to $138 at Evercore ISI

Evercore ISI analyst Jonathan Chappell lowered the price target on UPS (NYSE: UPS) to $138.00 (from $145.00) while maintaining a In Line rating.

The analyst comments "UPS posted 2Q24 adjusted EPS of $1.79, coming in below our forecast of $1.94 and the average Street estimate of $1.99... More

NXP Semiconductors NV (NXPI) PT Lowered to $287 at Truist Securities

Truist Securities analyst William S. Stein lowered the price target on NXP Semiconductors NV (NASDAQ: NXPI) to $287.00 (from $291.00) while maintaining a Buy rating.

The analyst comments "NXP's recovery is pushed out slightly, but we still like the stock here. NXP posted... More

GE Aerospace (GE) PT Raised to $98 at Citi

Citi analyst Andrew Kaplowitz raised the price target on GE Aerospace (NYSE: GE) to $98.00 (from $96.00) while maintaining a Buy rating.

The analyst comments "GM shares pulled back 6% despite the Q2 beat/raise, as some of the optical H2 vs. H1 nuances we... More

Spotify (SPOT) PT Raised to $420 at Evercore ISI

Evercore ISI analyst Mark Mahaney raised the price target on Spotify (NYSE: SPOT) to $420.00 (from $340.00) while maintaining a Outperform rating.

The analyst comments "Our View: We reiterate our Outperform, materially raise our estimates and our PT from $340 to $420 in the wake of BottomLine Beat & Raise Q2 EPS results. Like Netflix, Spotify is proving that great product innovation and declining competitive intensity can translate... More

General Motors (GM) PT Raised to $54 at Mizuho

Mizuho analyst Vijay Rakesh raised the price target on General Motors (NYSE: GM) to $54.00 (from $52.00) while maintaining a Outperform rating.

The analyst comments "Slowing EV Ramps with EV Trucks and Regulations - Still Up Q/Q, Focus on ICE GM noting EVs getting... More

Danaher (DHR) PT Raised to $275 at Evercore ISI

Evercore ISI analyst Vijay Kumar raised the price target on Danaher (NYSE: DHR) to $275.00 (from $260.00) while maintaining a Outperform rating.

The analyst comments "Thesis Update: Relative to the questions / fears heading into 1Q print, we thought DHR checked all the boxes and the results reaffirmed the normalization thesis. The 3 most recent data points in LST have been mixed / negative (RGEN mgmt. change, A Guide cut & last weeks SRT Guide cut), which made the DHR print topical. Overall results came in slight better vs Guide (- LSD core declines vs -MSD Guide), with the... More

UPS (UPS) PT Lowered to $140 at CFRA

CFRA analyst Stewart Glickman lowered the price target on UPS (NYSE: UPS) to $140.00 (from $149.00) while maintaining a Hold rating.

The analyst comments "Our 12-month target of $140, cut from $149, applies a 14.2x multiple of our forecasted 2025 operating EPS of $9.85 (trimmed by $0.11; we lower our... 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