After-hours movers: Alphabet, Tesla, Texas Instruments, Seagate and more
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Visa (V) PT Lowered to $295 at Argus
July 24, 2024 2:01 PM EDTArgus analyst Stephen Biggar lowered the price target on Visa (NYSE: V) to $295.00 (from $310.00) while maintaining a Buy rating.
The analyst comments "Lowering target to $295 as payment volumes moderate On July 23, Visa reported adjusted EPS of $2.42 for fiscal 3Q24 (ended June 30), up... More
Piper Sandler Comments on Tesla (TSLA) 10Q: 'We're not sure why, but warranty expense totaled 4.1% of revenue in 2Q24'
July 24, 2024 1:17 PM EDTPiper 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
July 24, 2024 9:26 AM EDTBofA 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
July 24, 2024 9:25 AM EDTBofA 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
Seagate Technology (STX) PT Raised to $125 at BofA Securities
July 24, 2024 9:23 AM EDTBofA Securities analyst Mehdi Hosseini raised the price target on Seagate Technology (NASDAQ: STX) to $125.00 (from $110.00) while maintaining a Buy rating.
The analyst comments "STX had positively pre-announced at our Technology conference in June, so a strong June qtr report was expected... More
Barclays Reiterates Overweight Rating on Visa (V), PT $319
July 24, 2024 8:39 AM EDTBarclays 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'
July 24, 2024 7:51 AM EDTNew 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)
July 24, 2024 7:40 AM EDTCanaccord 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)
July 24, 2024 7:25 AM EDTLoop 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)
July 24, 2024 7:22 AM EDTMoffettNathanson 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
Goldman Sachs Reiterates Buy Rating on Visa (V)
July 24, 2024 7:17 AM EDTGoldman Sachs analyst Will Nance reiterated a Buy rating and $317.00 price target on Visa (NYSE: V).
The analyst comments "V reported F3Q24 EPS and updated guidance on F2024 and F4Q24. Volumes saw some softness, particularly in APAC, driven by softer... More
Stifel Reiterates Hold Rating on Texas Instruments (TXN)
July 24, 2024 7:12 AM EDTStifel 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)
July 24, 2024 7:08 AM EDTRosenblatt 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
Seagate Technology (STX) PT Raised to $133 at Morgan Stanley
July 24, 2024 7:07 AM EDTMorgan Stanley analyst Erik Woodring raised the price target on Seagate Technology (NASDAQ: STX) to $133.00 (from $115.00) while maintaining a Overweight rating.
The analyst comments "Despite recent outperformance, we see further room for STX shares to run as our new forecast implies... More
Goldman Sachs Reiterates Buy Rating on Alphabet (GOOGL)
July 24, 2024 7:04 AM EDTGoldman 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)
July 24, 2024 7:01 AM EDTJPMorgan 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
July 24, 2024 6:56 AM EDTRoth/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)
July 24, 2024 6:35 AM EDTCantor 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
Seagate Technology (STX) PT Raised to $125 at Cantor Fitzgerald
July 24, 2024 6:34 AM EDTCantor Fitzgerald analyst C.J. Muse raised the price target on Seagate Technology (NASDAQ: STX) to $125.00 (from $120.00) while maintaining a Neutral rating.
The analyst comments "This was a very clean report. Strong beat and raise check. Significant upside to GMs led by higher ASPs check. Confidence by mgmt in HAMR qualification by Google in the September Q check. From here, all... More
Visa (V) PT Lowered to $311 at RBC Capital
July 24, 2024 6:31 AM EDTRBC Capital analyst Daniel Perlin lowered the price target on Visa (NYSE: V) to $311.00 (from $315.00) while maintaining a Outperform rating.
The analyst comments "Although F3Q24 results were largely in line with the Street, it feels like the marginal consumer is... More
Visa (V) PT Lowered to $319 at Citi
July 24, 2024 5:24 AM EDTCiti 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)
July 24, 2024 5:21 AM EDTJefferies 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)
July 24, 2024 5:20 AM EDTBaird 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)
July 24, 2024 5:19 AM EDTStifel 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)
July 24, 2024 5:18 AM EDTUBS 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
July 24, 2024 5:17 AM EDTWells 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
July 24, 2024 5:15 AM EDTJPMorgan 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'
July 24, 2024 4:58 AM EDTEvercore 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
