Midday movers: Tesla, Alphabet, Visa fall; AT&T, Texas Instruments rise

Argus Reiterates Buy Rating on Tesla (TSLA), PT $286

Argus analyst Bill Selesky reiterated a Buy rating and $286.00 price target on Tesla (NASDAQ: TSLA).

The analyst comments "Our rating on Tesla Inc. (NGS: TSLA) is BUY. Tesla is the largest EV (electric vehicle) seller in the world today and holds a significant portion of the EV market share in the United States, with about 51% of the market as of the end of 2023. Ford Motor and General Motors are also key players in this market, with Ford having a... More

Morgan Stanley Positive on Tesla (TSLA): 'AI infrastructure assets (reported in the Q) are booming'

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

The analyst comments "Some changes in the business mix that may be getting overlooked. Mostly recurring 'Services & Other' revenue reached 10% of total Tesla sales as the car parc approaches 7mm units. China revenues fell to the lowest in years at 18.2% of sales. AI infrastructure assets (reported in the... More

Deutsche Bank Downgrades General Dynamics Corp. (GD) to Hold

Deutsche Bank analyst Scott Deuschle downgraded General Dynamics Corp. (NYSE: GD) from Buy to Hold with a price target of $320.00.

The analyst comments "We are downgrading General Dynamics (GD) from Buy to Hold, with an unchanged target price of $320. Our $320 target price offers... More

General Dynamics Corp. (GD) PT Raised to $325 at JPMorgan

JPMorgan analyst Seth Seifman raised the price target on General Dynamics Corp. (NYSE: GD) to $325.00 (from $298.00) while maintaining a Overweight rating.

The analyst comments "GDs mid-year guidance revision featured several changes, including top-line increases for Aerospace, Combat, Marine, roughly offset by lower... More

AT&T (T) PT Raised to $21 at Citi

Citi analyst Michael Rollins raised the price target on AT&T (NYSE: T) to $21.00 (from $20.00) while maintaining a Buy rating.

The analyst comments "AT&Ts 2Q24 earnings highlighted plans to expand its converged fiber+mobile strategy by increasing fiber access availability... More

Roper Industries (ROP) PT Lowered to $674 at RBC Capital

RBC Capital analyst Deane Dray lowered the price target on Roper Industries (NASDAQ: ROP) to $674.00 (from $685.00) while maintaining a Outperform rating.

The analyst comments "Outperform-rated Roper reported a modest 2c/1% 2Q24 operating beat with impressive +24% FCF growth Y/Y. We believe the primary drivers... More

AT&T (T) PT Raised to $19 at RBC Capital

RBC Capital analyst Jon Atkin raised the price target on AT&T (NYSE: T) to $19.00 (from $18.00) while maintaining a Sector Perform rating.

The analyst comments "2Q revenue and EBITDA were in line with consensus, while FCF was ahead on capex timing. Management maintained full-year... More

AT&T (T) PT Raised to $24 at JPMorgan

JPMorgan analyst Richard Choe raised the price target on AT&T (NYSE: T) to $24.00 (from $21.00) while maintaining a Overweight rating.

The analyst comments "AT&T reported strong 2Q results highlighted by robust postpaid phone and steady fiber BB net adds. AT&T also reiterated all of its FY24 guidance. AT&T... More

TD Cowen Downgrades Lamb Weston (LW) to Hold

TD Cowen analyst Robert Moskow downgraded Lamb Weston (NYSE: LW) from Buy to Hold with a price target of $61.00 (from $105.00).

The analyst comments "We are downgrading Lamb Weston to Hold and lowering our PT to $61/share. The thesis we laid out last year regarding tight... More

Boston Scientific (BSX) PT Raised to $78 at Deutsche Bank

Deutsche Bank analyst Pito Chickering raised the price target on Boston Scientific (NYSE: BSX) to $78.00 (from $73.00) while maintaining a Hold rating.

The analyst comments "All told, Boston continues to execute at a high level, with continued portfolio shift to higher-growth segments (WAMGR has increased to HSD from LSD historically), leaving the... More

Lamb Weston (LW) PT Lowered to $72 at Citi

Citi analyst Thomas Palmer lowered the price target on Lamb Weston (NYSE: LW) to $72.00 (from $104.00) while maintaining a Buy rating.

The analyst comments "Following a fiscal 4Q24 sales and earnings miss and a disappointing FY25 outlook (initial take), the LW shares... More

AT&T (T) PT Raised to $19 at Evercore ISI

Evercore ISI analyst Vijay Jayant raised the price target on AT&T (NYSE: T) to $19.00 (from $18.00) while maintaining a In Line rating.

The analyst comments "Looking ahead, while the back-half is somewhat of a wildcard given the new AI iPhone... More

General Dynamics Corp. (GD) PT Raised to $331 at Citi

Citi analyst Jason Gursky raised the price target on General Dynamics Corp. (NYSE: GD) to $331.00 (from $320.00) while maintaining a Buy rating.

The analyst comments "2Q EPS missed consensus estimates by 1% on the slip of four G700 deliveries into 3Q while full-year guidance... More

Visa (V) PT Lowered to $295 at Argus

Argus 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

Boston Scientific (BSX) PT Raised to $90 at Jefferies

Jefferies analyst Matthew Taylor raised the price target on Boston Scientific (NYSE: BSX) to $90.00 (from $82.00) while maintaining a Buy rating.

The analyst comments "BSX reported 2Q24 sales of $4.12B, +14.7% organic, vs cons $4.02B and EPS of $0.62 +17%. vs cons $0.58. BSX increased '24 guidance to... 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

BTIG Reiterates Buy Rating on Boston Scientific (BSX)

BTIG analyst Marie Thibault reiterated a Buy rating and $84.00 price target on Boston Scientific (NYSE: BSX).

The analyst comments "This was another impressive quarter from Boston Scientific. Yet with the stock seemingly priced for perfection, shares traded off on Wednesday morning as a beat was widely anticipated and investors focused on whether the strong growth can be sustained beyond the Farapulse launch. BSX reported Q2 revenue of $4.120B (+14.5% y/y rep., +14.7% y/y org.) and adj. EPS of $0.62 (consensus $4.021B and $0.58), besting its guidance of +10.5-12.5% y/y reported sales growth,... More

Boston Scientific (BSX) PT Raised to $82 at Evercore ISI

Evercore ISI analyst Vijay Kumar raised the price target on Boston Scientific (NYSE: BSX) to $82.00 (from $81.00) while maintaining a Outperform rating.

The analyst comments "Thesis Update: BSX reported an overall organic growth of ~14.7% and EPS growth of ~16%...while these are numbers that any company can be proud of, BSX shares are down -3% as we write this. We would notch the share reaction to the expectations game, which seems a little odd to us given that consensus trades have worked so far (ISRG up DD on hitting buyside expecs for systems).... More

General Dynamics Corp. (GD) PT Lowered to $325 at CFRA

CFRA analyst Stewart Glickman lowered the price target on General Dynamics Corp. (NYSE: GD) to $325.00 (from $330.00) while maintaining a Buy rating.

The analyst comments "We lower our 12-month target by $5 to $325, based on a '25 P/E of 19.5x, above GD's historical... 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

Tesla margins a drag but future story is China demand, robotaxi and AI: Wedbush

Wedbush analysts emphasize that despite recent margin pressures, Tesla's (NASDAQ: TSLA) future hinges on strong demand in China and the impending rollout of autonomous and AI technologies.

The firm explained that Tesla's mixed results show auto gross margins (excluding credits) missing Street expectations by 200 basis points, primarily due to continued price cuts and average selling price (ASP) pressures.

However, they see positive signs in electric vehicle (EV) demand... 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