Analysts Stocks

      Daily Update - Dec 15, 2022

      Selected stock price news highlights of the day

      By: Matthew Otto

       

      Snap

      • received attention on MarketWatch quoting analyst Jefferies analyst James Heaney who set his price target at $10 mentioning privacy policy restrictions impacting profitability potential for the social media giant.

       

      LIN

      announced that it has achieved an inclusion in the Dow Jones Sustainability World Index (DJSI World), as well as the DJSI North America. By positioning itself among a top 10% selection of large stocks based on environmental, social and governance practices, Linde stands out from other companies within its sector by achieving twenty years uninterrupted recognition for leading ESG performance evidenced through their 99th percentile score in the S&P Global Corporate Sustainability Assessment CSA.

      • Duffy Fischer of Goldman Sachs increased his price target from $340 to $375 while maintaining a ‘Buy’ rating
      • PJ Juvekar at Citigroup upped his price target with an increase from $322 to $402.

      Lennox International

      Revealed their 2023 financial guidance and long-term targets for the year 2026, demonstrating a commitment to growth in energy-efficient climate control solutions. They predict core revenue grow 0% – 4%, excluding European divestitures; GAAP and adjusted earnings per share of $14.25-$15.25; corporate expenses at approximately $80 million combined with interest expenses between $55-$60 million due to an effective tax rate on 19%-21%. The company plans invest significantly ($250M) this fiscal year, including new Commercial manufacturing additions as well as transitions related to refrigerant regulations plus stock repurchases up until 200 Million dollars thus resulting in cash from operations ranging 500$ -600$, yielding free cash flow of about 250$-300$.

      • Damian Karas of UBS upgraded his price target from $255 to $265 while maintaining a Neutral rating.
      • Julian Mitchell at Barclays upped his target from $228 to $240 while keeping it as an Equal-Weight position.

       

      EMN Eastman Chemical

      Sees upgraded price targets from Goldman Sachs and Citigroup

      • Duffy Fischer increased his price target to $89 while maintaining a Neutral rating.
      • PJ Juvekar boosted his stoc forecast to $90 whilst also retaining their neutral rating.

      Both analysts have been neutral on the stock in the last downfall so this increase does signal a slight change in trend.

       

      MKS Instruments

      Announced a dividend of $0.22 per share set to be paid on December the 9th, pushing its current yield up to 1.2%.

      • Wells Fargo’s ‘s Joseph Quatrochi increased his outlook from $70 to $80 with an Equal-Weight rating.
      • Needham’s James Ricchiuti raising his price target from $90 to $110 – witha  ‘Buy’ ratings. Ricchiut has kept his stock forecasts above the stock price for the since of July 2020.

       

       

      Avidity Biosciences

      A biopharmaceutical company investing in Antibody Oligonucleotide Conjugates (AOCs) technology for RNA therapeutics, has announced encouraging preliminary results from its MARINA™ trial on December 14th. The success of the trial showcases AOC 1001’s ability to target and deliver siRNA into muscle precisely – an unprecedented achievement that surges forward Avidity’s proprietary platform with potentially wide-ranging applications towards previously untreatable diseases or targets such as myotonic dystrophy.

      • Credit Suisse’s Judah Frommer raised his price targets from $33 to $35 with an Outperform rating
      • Raymond James’ Steven Seedhouse  upgraded from $30 to $71 and a Strong Buy rating.

      The stock is traded at half of it’s peak market value achieved last year.