Selected stock price target news of the day - April 5th, 2024

By: Matthew Otto

RPM Reported Third-Quarter Financial Performance Amidst Challenging Economic Landscape

RPM International delivered its fiscal 2024 third-quarter performance, achieving $1.52 billion in net sales, an uptick of 0.4% compared to the prior year. This growth propelled the company to achieve $61.2 million in net income attributable to RPM stockholders, reflecting 126.9% surge from the previous year. Diluted earnings per share also soared to $0.47, marking a 123.8% increase.

Furthermore, RPM secured an EBIT of $93.4 million, accompanied by a 31.3% rise in adjusted EBIT to $110.1 million. Notable, reported $1.26 billion generated in cash flow from operating activities over the trailing 12 months.

Looking ahead, RPM is projecting flat sales for the fourth quarter and forecasting high-single-digit growth in adjusted EBIT.

Analysts Provide Varied Outlooks with Price Target Adjustments

Mizuho analyst John Roberts maintained a Buy rating and raised the price target from $128 to $136.
Baird analyst Ghansham Panjabi reiterated a Neutral rating yet increased the price target from $105 to $120.
BMO Capital analyst John McNulty kept an Outperform rating and lowered the price target from $127 to $123.

Which Analyst has the best track record to show on RPM?

Analyst Michael Sison (WELLS FARGO) currently has the highest performing score on RPM with 9/9 (100%) price target fulfillment ratio. His price targets carry an average of $8.21 (8.40%) potential upside. RPM International stock price reaches these price targets on average within 214 days.

Tesla’s Billion-Dollar Bet: An Investment in India’s EV Market

Tesla is on track to invest $2 billion to $3 billion in setting up a new EV factory in India. This move comes as India recently slashed import tariffs on select EVs, incentivizing companies like Tesla to ramp up local manufacturing. With an aim to capitalize on India’s growing EV market, Tesla eyes prominent automotive hubs in states like Maharashtra, Gujarat, and Tamil Nadu for its factory setup.

India’s push for domestic manufacturing is evident in its approval of a scheme offering incentives to automakers investing at least $500 million and commencing local production within three years.

Despite fierce competition from Chinese EV behemoth BYD, Tesla remains a formidable force, with its sales surpassing BYD’s in the first quarter of 2024. Notably, India’s EV market is gaining momentum, with nearly 60% of EV sales worldwide originating from China.

Analysts Adjust Ratings and Price Targets Amid Market Volatility

Morgan Stanley analyst Adam Jonas maintained an Overweight rating and lowered the price target from $320 to $310.
Deutsche Bank analyst Emmanuel Rosner reiterated a Buy rating but downgraded the price target from $200 to $189.
Baird analyst Ben Kallo maintained an Outperform rating yet lowered the price target from $300 to $280.

Which Analyst has the best track record to show on TSLA?

Analyst Patrick Hummel (UBS) currently has the highest performing score on TSLA with 8/13 (61.54%) price target fulfillment ratio. His price targets carry an average of $-4.48 (-2.64%) potential downside. Tesla stock price reaches these price targets on average within 23 days.

Lamb Weston’s Q3 Earnings Miss Sparks Investor Concerns

Lamb Weston reported its quarterly results, with adjusted earnings per share for the third fiscal quarter ending Feb. 25 coming in at $1.20. This is below Wall Street’s projected $1.45. Net sales also fell short, totaling $1.46 billion, missing estimates by a substantial margin at $1.65 billion.

Lamb Weston revised its fiscal 2024 outlook, reducing its net sales projection to a range of $6.54 billion to $6.6 billion from the previous estimate of $6.8 billion to $7 billion. Similarly, adjusted earnings per share for fiscal 2024 are now expected to range from $5.50 to $5.65, down from the initial projection of $5.70 to $6.15.

Analysts Adjust Ratings and Price Targets Amidst Challenges

Wells Fargo analyst Marc Torrente maintained an Overweight rating yet lowered the price target from $128 to $98.
Stifel analyst Matthew Smith reiterated a Buy rating and decreased the price target from $130 to $115.

Which Analyst has the best track record to show on LW?

Analyst Thomas Palmer (JPMORGAN) currently has the highest performing score on LW with 6/10 (60%) price target fulfillment ratio. His price targets carry an average of $34.15 (36.78%) potential upside. Lamb Weston stock price reaches these price targets on average within 273 days.