Midday movers: Estee Lauder, HP Inc fall; AMD rises

B. Riley Financial (RILY) Halted Again on Volatility, Up 42%

August 21, 2024 12:27 PM EDT

B. Riley Financial (NASDAQ: RILY) Halted Again on Volatility, Up 42%

Earlier: Oaktree (OAK) Said Near Deal For Majority Stake In Two B. Riley (RILY) Units - Bloomberg... More

Citi Reiterates Buy Rating on AMD (AMD)

August 21, 2024 4:59 AM EDT

Citi analyst Christopher Danely reiterated a Buy rating and $210.00 price target on AMD (NASDAQ: AMD)

The analyst comments "Yesterday, AMD announced it will acquire ZT Systems for $4.9 billion with a 75% cash and 25% stock transaction. ZT Systems is a manufacturer for AI... More

Northland Reiterates Outperform Rating on AMD (AMD)

August 20, 2024 7:44 AM EDT

Northland analyst Gus Richard reiterated an Outperform rating and $175.00 price target on AMD (NASDAQ: AMD)

The analyst comments "AMD announced that it is acquiring ZT Systems for $4.9 billion. ZT Systems provides AI infrastructure to CSPs. We believe the acquisition will accelerate AMD's... More

Liquidia Technologies (LQDA) PT Lowered to $29 at H.C. Wainwright

August 20, 2024 6:12 AM EDT

H.C. Wainwright analyst Andrew S. Fein lowered the price target on Liquidia Technologies (NASDAQ: LQDA) to $29.00 (from $32.00) while maintaining a Buy rating.

The analyst comments "Patent attorney's thoughts on competitor's patent exclusivity. From our conversations with a patent attorney, in terms of the patent exclusivity that was recently granted to Tyvasao, it is important to note that there are various types of exclusivity under the Hatch-Waxman Act. The New Chemical Entity (NCE) exclusivity ran out on Treprostinil five years after Remodulin was approved and only one NCE exclusivity is granted per... More

Estee Lauder (EL) PT Lowered to $100 at Morgan Stanley

August 20, 2024 6:07 AM EDT

Morgan Stanley analyst Dara Mohsenian lowered the price target on Estee Lauder (NYSE: EL) to $100.00 (from $140.00) while maintaining a Equalweight rating.

The analyst comments "We remain EW, with uncertain LT topline growth given category weakness (China/travel retail), EL market share struggles (outsized exposure to these areas/underlying softness), and execution risk, albeit with CEO change a potential catalyst and seemingly conservative... More

Barclays Reiterates Overweight Rating on AMD (AMD)

August 20, 2024 5:35 AM EDT

Barclays analyst Blayne Curtis reiterated an Overweight rating and $180.00 price target on AMD (NASDAQ: AMD)

The analyst comments "Our Take: In our view, this cements the systems-based approach NVDA has championed as potentially the majority of shipments in the coming year plus. AMD could have announced a board level/system-based solution tomorrow and we wouldn't... More

Piper Sandler Reiterates Overweight Rating on AMD (AMD), 'remains our top large-cap pick'

August 20, 2024 5:11 AM EDT

Piper Sandler analyst Harsh Kumar reiterated an Overweight rating and $175.00 price target on AMD (NASDAQ: AMD)

The analyst comments "This morning, AMD filled a major gap in its system level offering with the announcement of the proposed acquisition of ZT... More

Edward Jones Starts AMD (AMD) at Buy, Adds to Stock Focus List

August 20, 2024 5:08 AM EDT

Edward Jones analyst Logan Purk initiates coverage on AMD (NASDAQ: AMD) with a Buy rating.

The analyst comments "We are initiating coverage of AMD with a Buy rating and adding shares to the Stock Focus List. We believe the company should deliver outsized... More

Estee Lauder (EL) PT Lowered to $105 at Deutsche Bank

August 20, 2024 4:59 AM EDT

Deutsche Bank analyst Steve Powers lowered the price target on Estee Lauder (NYSE: EL) to $105.00 (from $108.00) while maintaining a Hold rating.

The analyst comments "In the background, EL continues to navigate a CFO succession, and is simultaneously now conducting a CEO search following the announced... More

Liquidia Technologies (LQDA) PT Lowered to $23 at BofA Securities

August 20, 2024 4:56 AM EDT

BofA Securities analyst Greg Harrison lowered the price target on Liquidia Technologies (NASDAQ: LQDA) to $23.00 (from $24.00) while maintaining a Buy rating.

The analyst comments "We update our LQDA PO to $23/shr (from $24) based on todays update the FDA will issue final Yutrepia... More

Estee Lauder (EL) PT Lowered to $130 at Evercore ISI

August 20, 2024 4:37 AM EDT

Evercore ISI analyst Robert Ottenstein lowered the price target on Estee Lauder (NYSE: EL) to $130.00 (from $180.00) while maintaining a Outperform rating.

The analyst comments "Estees fiscal 2025 guide assumes China and Asia Travel Retail will remain tough and unlikely to improve from Junes low: 1) Hainan duty-free sales did not stabilize after the anniversary of the daigou crackdown but declines accelerated instead, page 16; 2) Online... More

Estee Lauder (EL) PT Lowered to $130 at DA Davidson

August 20, 2024 4:32 AM EDT

DA Davidson analyst Linda Bolton Weiser lowered the price target on Estee Lauder (NYSE: EL) to $130.00 (from $191.00) while maintaining a Buy rating.

The analyst comments "BUY-rated EL reported a F4Q24 beat, with travel retail likely up >40%, driven by re-stocking in the... More

Melius Reiterates Buy Rating on AMD (AMD)

August 19, 2024 4:04 PM EDT

Melius analyst Ben Reitzers reiterated a Buy rating and $205.00 price target on AMD (NASDAQ: AMD).

The analyst comments "Going in Right Direction: While the deal doesn't seem to have material impact on our estimates at this time, we like the direction AMD is going in acquiring systems expertise and engineers with close ties to the big clouds. Nvidia's innovation with rack-scale systems... More

Goldman Sachs Reiterates Buy Rating on AMD (AMD)

August 19, 2024 4:03 PM EDT

Goldman Sachs analyst Toshiya Hari reiterated a Buy rating and $175.00 price target on AMD (NASDAQ: AMD).

The analyst comments "On August 19 (pre market open), AMD announced the signing of a definitive agreement to acquire ZT Systems in a cash and stock transaction... More

Liquidia Technologies (LQDA) PT Lowered to $17 at Jefferies

August 19, 2024 4:01 PM EDT

Jefferies analyst Kambiz Yazdi lowered the price target on Liquidia Technologies (NASDAQ: LQDA) to $17.00 (from $22.00) while maintaining a Buy rating.

The analyst comments "Tentative approval for Yutrepia in PAH and now PH-ILD was tempered by simultaneous grant of regulatory exclusivity for Tyvaso DPI until... More

Roth/MKM Reiterates Buy Rating on AMD (AMD)

August 19, 2024 3:59 PM EDT

Roth/MKM analyst Suji Desilva reiterated a Buy rating and $200.00 price target on AMD (NASDAQ: AMD)

The analyst comments "We believe AMDs announced ZT Systems acquisition provides an experienced hyperscaler-focused AI infrastructure engineering team that can accelerate deployment of the companys... More

Truist Securities Reiterates Hold Rating on AMD (AMD)

August 19, 2024 3:58 PM EDT

Truist Securities analyst William Stein reiterated a Hold rating and $156.00 price target on AMD (NASDAQ: AMD)

The analyst comments "Minimal financial impact. AMD will pay $4.9B for ZT using 75% cash and 25% stock. For the 75% cash requirement, the company stated that it will partially... More

HP Inc. (HPQ) cut at Morgan Stanley on limited upside

August 19, 2024 12:43 PM EDT

Morgan Stanley downgraded HP Inc. (NYSE: HPQ) from Overweight to Equal-Weight in a note to clients Monday, citing limited upside in both valuation and future earnings estimates.

Despite HP's recent stock performance, the firm believes that the positive catalysts driving the company's growth have now been fully priced in.

Morgan Stanley's analysts noted... More

Deutsche Bank Reiterates Hold Rating on AMD (AMD)

August 19, 2024 12:03 PM EDT

Deutsche Bank analyst Ross Seymore reiterated a Hold rating and $150.00 price target on AMD (NASDAQ: AMD)

The analyst comments "This morning, AMD announced its intention to acquire server systems provider ZT Systems in a $4.9b deal for a combination of 75%/25% cash/stock (inclusive of $400m contingent payment). The primary goal of the deal appears to be the acquihire of 1k scarce systems design engineers to augment AMD's existing suite of component solutions (GPU/accelerator, CPU, networking, and software) and further accelerate AMD's penetration of system- and... More

Liquidia Technologies (LQDA) PT Lowered to $25 at BTIG

August 19, 2024 11:15 AM EDT

BTIG analyst Julian Harrison lowered the price target on Liquidia Technologies (NASDAQ: LQDA) to $25.00 (from $29.00) while maintaining a Buy rating.

The analyst comments "Three-year New Clinical Investigation (NCI) Exclusivities are typically granted by the FDA soon after approval, making todays update unusual since Tyvaso DPI (UTHR, Neutral) has been approved since May 2022. 75% of... More

Wolfe Research Reiterates Outperform Rating on AMD (AMD)

August 19, 2024 9:30 AM EDT

Wolfe Research analyst Chris Caso reiterated an Outperform rating and $210.00 price target on AMD (NASDAQ: AMD).

The analyst comments "Key Takeaways. At first glance, AMD's acquisition of ZT Systems allows the company to more easily design fully integrated solutions such NVDA GB200 NVL rack systems.... More

Goldman Sachs on Estee Lauder (EL): 'FY25 guidance missed expectations will weigh sharply on the stock today'

August 19, 2024 9:23 AM EDT

Goldman Sachs analyst Bonnie Herzog reiterated a Neutral rating and $115.00 price target on Estee Lauder (NYSE: EL).

The analyst comments "Our View - EL reported 4Q24 EPS of $0.64 (vs. GS/FactSet consensus $0.24/$0.26). Q4 organic sales growth of +8% was slightly higher than expectations, as strength in its EMEA segment was partly offset by weaker Americas and APAC. Gross margins were marginally lower than... More

JPMorgan Reiterates Overweight Rating on Estee Lauder (EL)

August 19, 2024 8:35 AM EDT

JPMorgan analyst Andrea Teixeira reiterated an Overweight rating and $129.00 price target on Estee Lauder (NYSE: EL).

The analyst comments "EL (OW) reported 4QFY24 adj. EPS of $0.64, well above high end of guidance range of $0.18 to $0.28 and also significantly above JPM/Street forecasts of... More

Stifel on Estee Lauder (EL): 'We anticipate EL shares underperform'

August 19, 2024 8:19 AM EDT

Stifel analyst Mark Astrachan reiterated a Buy rating and $165.00 price target on Estee Lauder (NYSE: EL).

The analyst comments "Estée Lauder Companies reported solid F4Q24 results with below-consensus first-time F2025 guidance. The company also announced president/CEO... More

Morgan Stanley on Estee Lauder (EL): 'Negative Stock Reaction'

August 19, 2024 8:19 AM EDT

Morgan Stanley analyst Dara Mohsenian reiterated an Equalweight rating and $140.00 price target on Estee Lauder (NYSE: EL).

The analyst comments "Negative Stock Reaction: EL reported Q4 EPS upside, announced its current CEO would be stepping down this fiscal year with a search including external/internal candidates ongoing,... More