Dow Jones, Nasdaq, S&P 500 weekly preview: Powell's Jackson Hole speech in focus

Target (TGT) PT Raised to $192 at Goldman Sachs

Goldman Sachs analyst Kate McShane raised the price target on Target (NYSE: TGT) to $192.00 (from $191.00) while maintaining a Buy rating.

The analyst comments "TGT is currently up ~13% (vs. the S&P 500 at +0.3%) after its 2Q beat and revised FY24 guidance. The company's... More

Target (TGT) PT Raised to $195 at Jefferies

Jefferies analyst Corey Tarlowe raised the price target on Target (NYSE: TGT) to $195.00 (from $190.00) while maintaining a Buy rating.

The analyst comments "TGT's 2Q top-and bottom-line results came in ahead of Street ests. TGT returned to positive comp growth driven by improving traffic... More

The TJX Companies (TJX) PT Raised to $140 at Jefferies

Jefferies analyst Corey Tarlowe raised the price target on The TJX Companies (NYSE: TJX) to $140.00 (from $130.00) while maintaining a Buy rating.

The analyst comments "Comp growth of +4% came in ahead of cons., driven entirely by increased customer transactions. Due to the strong top-line... More

Macy's (M) PT Lowered to $16 at Evercore ISI

Evercore ISI analyst Michael Binetti lowered the price target on Macy's (NYSE: M) to $16.00 (from $17.00) while maintaining a In Line rating.

The analyst comments "Bottom Line: Macys reported 2Q EPS at $0.53. Excluding $0.10 from 1x asset sales 2Q EPS was $0.43, above our $0.26/Street $0.30.... More

DA Davidson Reiterates Buy Rating on Target (TGT)

DA Davidson analyst Michael Baker reiterated a Buy rating and $190.00 price target on Target (NYSE: TGT).

The analyst comments "In one of the more surprising prints so far in big box earnings season, Target pivoted back to its winning ways, beating 2Q... More

Telsey Reiterates Outperform Rating on Target (TGT)

Telsey analyst Joseph Feldman reiterated an Outperform rating and $190.00 price target on Target (NYSE: TGT).

The analyst comments "TAG View: Target reported better-than-anticipated 2Q24 resultsreturning to positive sales and profit growthand raised its 2024 profit guidance. The company reported 2Q24 EPS of $2.57, well ahead of our estimate of $2.19 and the FactSet consensus (FS) of $2.18, with a comp of 2.0% vs. our... More

BMO Capital Reiterates Market Perform Rating on Target (TGT)

BMO Capital analyst Kelly Bania reiterated a Market Perform rating and $145.00 price target on Target (NYSE: TGT).

The analyst comments "TGT's F2Q25 was better than expectations on comps of 2% y/y vs. 1% expectations and gross margin upside. FY25 EPS guidance was... More

Goldman Sachs Reiterates Buy Rating on Target (TGT)

Goldman Sachs analyst Kate McShane reiterated a Buy rating and $191.00 price target on Target (NYSE: TGT).

The analyst comments "TGT reported 2Q24 EPS of $2.57, above GS/consensus (Refinitiv) of $2.34/$2.18. SSS came in at +2.0%, vs. consensus of +1.2%, with an increase in traffic (+3.0%)... More

JPMorgan Reiterates Neutral Rating on Target (TGT)

JPMorgan analyst Christopher Horvers reiterated a Neutral rating and $153.00 price target on Target (NYSE: TGT).

The analyst comments "Overall, TGT posted strong results, with $2.57 of EPS well ahead of our $2.24 and the Streets $2.19 per Consensus Metrix, driven by better-than-expected sales growth and a gross margin beat. Comps came in at +2.0%, ahead of our... More

Jefferies Reiterates Buy Rating on Target (TGT)

Jefferies analyst Corey Tarlowe reiterated a Buy rating and $190.00 price target on Target (NYSE: TGT).

The analyst comments "Q2 comp sales of 2.0% beat expectations and was at the high end of guidance (flat-2%). Discretionary category trends continue to improve with apparel growing by... More

Stifel Reiterates Hold Rating on Target (TGT)

Stifel analyst Mark Astrachan reiterated a Hold rating and $147.00 price target on Target (NYSE: TGT).

The analyst comments "Comp increased 2%, better than consensus of 1.1%, with operating income of $1.635bn (consensus $1.385bn). The company maintained F2024 comp guidance (0%-2%), though anticipates... More

Roth/MKM Reiterates Neutral Rating on Target (TGT)

Roth/MKM analyst Bill Kirk reiterated a Neutral rating and $153.00 price target on Target (NYSE: TGT).

The analyst comments "Target's 2Q (comp sales/profitability beat) eases the dual fears of increased competition and a weakening consumer. Gross margin was ~70bps ahead of... More

Lowe's (LOW) PT Lowered to $238 at RBC Capital

RBC Capital analyst Steven Shemesh lowered the price target on Lowe's (NYSE: LOW) to $238.00 (from $245.00) while maintaining a Sector Perform rating.

The analyst comments "Continued comp softness and a guidance cut were expected. One could argue that the setup heading into FY'25 (a... More

Lowe's (LOW) PT Lowered to $275 at BofA Securities

BofA Securities analyst Robert F. Ohmes lowered the price target on Lowe's (NYSE: LOW) to $275.00 (from $280.00) while maintaining a Buy rating.

The analyst comments "LOW reported F2Q25 adj. EPS of $4.10, ahead of our $4.00 est. Comps declined -5.1% y/y driven by continued softness... More

Bernstein SocGen Group Reiterates Market Perform Rating on XPeng (XPEV)

Bernstein SocGen Group analyst Eunice Lee reiterated a Market Perform rating and $9.00 price target on XPeng (NYSE: XPEV)

The analyst comments "Q2 margin beat on VW & Other. XPeng reported Q2 revenue of RMB 8.1bn, +60.2% YoY and +23.9% QoQ. YoY growth was driven by both volume growth... More

Citi Reiterates Buy Rating on Intuit (INTU)

Citi analyst Steven Enders reiterated a Buy rating and $750.00 price target on Intuit (NASDAQ: INTU).

The analyst comments "We expect INTU to report a modest F4Q with some improvement in SMB/CK, yet we believe most of the... More

DA Davidson Reiterates Neutral Rating on Lowe's (LOW)

DA Davidson analyst Michael Baker reiterated a Neutral rating and $240.00 price target on Lowe's (NYSE: LOW).

The analyst comments "LOW missed published comp estimates and guided down. But this was expected as HD did the same last week for their core business. So true... More

Lowe's (LOW) PT Raised to $274 at Jefferies

Jefferies analyst Jonathan Matuszewski raised the price target on Lowe's (NYSE: LOW) to $274.00 (from $267.00) while maintaining a Buy rating.

The analyst comments "Following 2Q, we continue to see pent-up demand poised to accelerate comp sales and drive fixed cost leverage. As homeowners... More

XPeng (XPEV) PT Lowered to $7.60 at Citi

Citi analyst Jeff Chung lowered the price target on XPeng (NYSE: XPEV) to $7.60 (from $8.30) while maintaining a Neutral rating.

The analyst comments "This report summarizes our thoughts on Xpengs MONA model launch and ADAS development. We slightly lift 2024-26E... More

Lowe's (LOW) PT Raised to $269 at Truist Securities

Truist Securities analyst Scot Ciccarelli raised the price target on Lowe's (NYSE: LOW) to $269.00 (from $265.00) while maintaining a Buy rating.

The analyst comments "2Qs comp decline of (5.1%) vs. our (4.3%E), was similar to our in-line/- call; mrgs/EPS held-up well and posted slight... More

Stifel Reiterates Hold Rating on Lowe's (LOW)

Stifel analyst W. Andrew Carter reiterated a Hold rating and $250.00 price target on Lowe's (NYSE: LOW).

The analyst comments "We continue with our Hold rating for LOW shares largely maintaining our outlook including a cautious approach to FY25 with our conviction strengthened... More

Palo Alto Networks (PANW) PT Raised to $400 at FBN Securities

FBN Securities analyst Shebly Seyrafi raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $350.00) while maintaining a Outperform rating.

The analyst comments "We retain our Outperform rating on PANW and raise our PT from $350 to $400 following better than expected FQ4 results in which RPO grew by... More

Are investors safe as VIX retraces at record pace?

As the VIX retraces at a record pace, Bank of America said in a note Tuesday that investors may be tempted to breathe a sigh of relief.

However, the bank questioned whether the coast is really clear just yet.

Analysts at BofA explained that after the volatility spike on August 5, the VIX rapidly stabilized, dropping back to its pre-August year-to-date average level in just seven daysa record-setting... More

Citi Reiterates Neutral Rating on Lowe's (LOW)

Citi analyst Steven Zaccone reiterated a Neutral rating and $240.00 price target on Lowe's (NYSE: LOW).

The analyst comments "LOW reported a 2Q print fairly in-line with expectations following HD earnings last week (i) 2Q EPS beat the Streets estimate by ~4%... More

Telsey Reiterates Market Perform Rating on Lowe's (LOW)

Telsey analyst Joseph Feldman reiterated a Market Perform rating and $230.00 price target on Lowe's (NYSE: LOW).

The analyst comments "TAG View: Lowe's reported better-than-expected 2Q24 earnings on solid expense management, but lowered its 2024 guidance on a dimmer view on DIY sales and the macroeconomic backdrop. The company reported 2Q24 adjusted EPS of $4.10, beating our estimate of $3.97 and the FactSet consensus (FS) of $3.96. Note, a lower tax rate than our forecast and the Street helped EPS by ~$0.05. Total sales declined 5.5% to $23.6B, though,... More

Palo Alto Networks (PANW) PT Raised to $400 at Wedbush

Wedbush analyst Daniel Ives raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $375.00) while maintaining a Outperform rating.

The analyst comments "We continue to believe the platform approach in cyber security is the right long-term move for PANW and... More

Morgan Stanley Reiterates Overweight Rating on XPeng (XPEV)

Morgan Stanley analyst Tim Hsiao reiterated an Overweight rating and $11.70 price target on XPeng (NYSE: XPEV)

The analyst comments "XPeng's net loss of Rmb1.28bn in 2Q24 narrowed from Rmb1.37bn in 1Q24, inline with our previous forecast of a Rmb1.3bn loss: 2Q total revenue... More

Palo Alto Networks (PANW) PT Raised to $410 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the price target on Palo Alto Networks (NASDAQ: PANW) to $410.00 (from $390.00) while maintaining a Outperform rating.

The analyst comments "We thought the quarter represented a strong finish to the FY with momentum building into FY/25. We liked hearing... More

Lowe's Q2 earnings beat estimates, but revenue and guidance falls short on lower-than-expected DIY sales

(Updated - August 20, 2024 10:03 AM EDT)

Lowe's Cos. (NYSE: LOW) reported second-quarter earnings before the open Tuesday, surpassing analyst expectations, despite a decline in revenue amid challenging macroeconomic conditions. The home improvement retailer's stock bounced around at the start of Tuesday's session but is currently flat on the day.

Lowe's posted adjusted earnings per share of $4.10 for the quarter ended Aug. 2, 2024, exceeding the analyst estimate of $3.96. However, revenue fell short at $23.59 billion, compared to the consensus estimate of $23.93 billion and down from $25.0 billion in the same quarter last year.

Comparable sales... More

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

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

Palo Alto Networks (PANW) PT Raised to $400 at Cantor Fitzgerald

Cantor Fitzgerald analyst Jonathan Ruykhaver raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $350.00) while maintaining a Overweight rating.

The analyst comments "Investment Summary. We reiterate our Overweight rating and raise our price target to $400 from $350 on a strong finish to FY2024. Palo Alto Networks delivered a solid finish to the year end on revenue exceeding FactSet consensus... More

Palo Alto Networks (PANW) PT Raised to $399 at Bernstein SocGen Group

Bernstein SocGen Group analyst Peter Weed raised the price target on Palo Alto Networks (NASDAQ: PANW) to $399.00 (from $364.00) while maintaining a Outperform rating.

The analyst comments "Palo Alto Networks closed out its FY24 with a FQ4 with another accelerating revenue beat to +1.4%... More

Palo Alto Networks (PANW) PT Raised to $330 at Piper Sandler

Piper Sandler analyst Rob Owens raised the price target on Palo Alto Networks (NASDAQ: PANW) to $330.00 (from $300.00) while maintaining a Neutral rating.

The analyst comments "Platformization momentum accelerated to end F'24, with the number of platformization deals up 50%+ in 4Q. This... More

Palo Alto Networks (PANW) PT Raised to $395 at Deutsche Bank

Deutsche Bank analyst Brad Zelnick raised the price target on Palo Alto Networks (NASDAQ: PANW) to $395.00 (from $330.00) while maintaining a Buy rating.

The analyst comments "Despite some concerns around the July 19 CrowdStrike outage hampering consolidation forces within cyber, 'platformization' is winning the day for PANW with multiple customer success stories and supporting metrics including 90 new such deals in F4Q up from 65 in F3Q. The company boasts well over 1,000 'platformized' customers amongst their largest 5,000, along with healthy expansion rates and rising interest and activity among senior level customer execs. We believe... More

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

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

BofA Securities Reiterates Neutral Rating on Palo Alto Networks (PANW)

BofA Securities analyst Tal Liani reiterated a Neutral rating and $370.00 price target on Palo Alto Networks (NASDAQ: PANW).

The analyst comments "Palo Alto Networks reported a strong quarter with NGS ARR up ~43% YoY vs. Streets 38.1%, fueled by progress across all next-generation security... More

Goldman Sachs Reiterates Buy Rating on Palo Alto Networks (PANW)

Goldman Sachs analyst Gabriela Borges reiterated a Buy rating and $376.00 price target on Palo Alto Networks (NASDAQ: PANW)

The analyst comments "Palo Alto reported an overall solid quarter: 4QFY (July) revenue was 1% above the Street and EPS 7% above (FactSet). FY25 guidance is for RPO growth of... More

Wolfe Research Reiterates Outperform Rating on Palo Alto Networks (PANW)

Wolfe Research analyst Joshua Tilton reiterated an Outperform rating and $385.00 price target on Palo Alto Networks (NASDAQ: PANW).

The analyst comments "Revenue and NGS ARR stood out, growing 12% and 43% Y/Y, and coming in 1.3% and 3.7% ahead of consensus, respectively. Total Billings... More

Palo Alto Networks (PANW) PT Raised to $390 at BMO Capital

BMO Capital analyst Keith Bachman raised the price target on Palo Alto Networks (NASDAQ: PANW) to $390.00 (from $334.00) while maintaining a Outperform rating.

The analyst comments "We are not surprised that PANW is moving away from offering billings guidance, and we... More

Mizuho Reiterates Outperform Rating on Palo Alto Networks (PANW)

Mizuho analyst Gregg Moskowitz reiterated an Outperform rating and $380.00 price target on Palo Alto Networks (NASDAQ: PANW).

The analyst comments "PANW reported a very good close to its fiscal year, as F4Q revenue growth upside was more than usual, while... More

Guggenheim Reiterates Neutral Rating on Palo Alto Networks (PANW)

Guggenheim analyst John DiFucci reiterated a Neutral rating on Palo Alto Networks (NASDAQ: PANW).

The analyst comments "Key Message: Palo Alto Networks reported decent F4Q24 results with revenue and cash flow largely in line to a bit above consensus estimates, while NGS ARR and EPS were better. Importantly, our calculation of Total New ARR grew modestly (+2%) after three consecutive quarters of decline, though it was against an easier comp. Included in Total New ARR are: NGS components included in Product, Subscription, and Support, along with current... More

Palo Alto Networks (PANW) PT Raised to $387 at JPMorgan

JPMorgan analyst Brian Essex raised the price target on Palo Alto Networks (NASDAQ: PANW) to $387.00 (from $365.00) while maintaining a Overweight rating.

The analyst comments "Healthy 4Q results with guidance better than expected. Results for 4Q were solid overall as Palo Alto delivered better than expected Next Gen ARR, revenue, operating margin, and non-GAAP EPS. Ending the year with a FCF margin of nearly 39% was also a notable positive. Guidance for FY25 RPO growth was a bit light, but FY25 guidance for Next Gen ARR,... More

Palo Alto Networks (PANW) PT Raised to $400 at Jefferies

Jefferies analyst Joseph Gallo raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $365.00) while maintaining a Buy rating.

The analyst comments "F4Q billings grew 11% yoy vs Cons 9%. While the shifting of metrics muddies guidance (RPO impacted by... More

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

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

Palo Alto Networks (PANW) PT Raised to $395 at Evercore ISI

Evercore ISI analyst Peter Levine raised the price target on Palo Alto Networks (NASDAQ: PANW) to $395.00 (from $385.00) while maintaining a Outperform rating.

The analyst comments "PANW delivered a strong quarter and provided an outlook that met expectations. The core of our Tactical Underperform (here) was the lack of confidence going into the print given all the moving pieces, and although the guidance wasnt one for the record books, it was good enough. As expected, mgmt will be transitioning away from providing a billings guide but gave us an FY25 target of... More

Snowflake Inc. (SNOW) PT Lowered to $200 at Citi

Citi analyst Tyler Radke lowered the price target on Snowflake Inc. (NYSE: SNOW) to $200.00 (from $236.00) while maintaining a Buy rating.

The analyst comments "We are cautiously optimistic going into SNOW FQ2 earnings, as we continue to see healthy room for... More

Palo Alto Networks (PANW) PT Raised to $395 at Citi

Citi analyst Fatima Boolani raised the price target on Palo Alto Networks (NASDAQ: PANW) to $395.00 (from $385.00) while maintaining a Buy rating.

The analyst comments "Against elevated expectations shares, valuation near all-time highs PANW delivered an even-keeled print. NGS ARR (43% YoY, $4B+ scale +5pts... More

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

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

Palo Alto Networks (PANW) PT Raised to $415 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the price target on Palo Alto Networks (NASDAQ: PANW) to $415.00 (from $380.00) while maintaining a Buy rating.

The analyst comments "FQ4 results were nicely ahead on almost all metrics, including Billings. Net New NGS ARR of... More

Palo Alto Networks (PANW) PT Raised to $395 at BTIG

BTIG analyst Gray Powerll raised the price target on Palo Alto Networks (NASDAQ: PANW) to $395.00 (from $366.00) while maintaining a Buy rating.

The analyst comments "PANW posted strong FQ424 results and the initial outlook for FY25 was broadly in-line with expectations across key metrics. Most notably, PANW posted billings growth of 10.8% y/y in Q424 ahead of... More

Volatility is likely here to stay in the coming months: BofA

Bank of America analysts are warning that the current market volatility is expected to persist in the coming months.

In a recent note, the investment bank highlighted several factors contributing to this outlook, including a weakening macroeconomic environment and policy uncertainty ahead of the U.S. election.

"Volatility has risen after the VIX remained sub-20 for nearly two years,"... More

S&P 500, stocks will continue to rally 'as long as growth is ok'

Bank of America analysts believe that U.S. equities are well-positioned to continue their upward trajectory, provided that economic growth remains stable.

In a recent note, the investment bank's analysts emphasized that "as long as growth is OK, equities can withstand a less-dovish Fed."

The focus for the market has shifted from inflation to growth,... More

BofA Securities Reiterates Buy Rating on Target (TGT)

BofA Securities analyst Robert Ohmes reiterated a Buy rating and $190.00 price target on Target (NYSE: TGT)

The analyst comments "Target (TGT) will report F2Q25 on 8/21. Our model assumes a comp inflection to +1% vs a -3.7% decline in F1Q, consistent with... More

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

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