Analysts Stocks

      Daily Update - Jan 24, 2023

      Selected stock price news highlights of the day

      By: Matthew Otto

      Synchrony

      Achieved record-breaking success in the quarter with $577 million net earnings and a diluted share of $1.26, contributing to strong receivables growth. Capital was returned to shareholders via a buyback scheme worth $803 million – including repurchase shares valued at up to $700 Million. Furthermore, purchase volume surged by 11% on a core basis due primarily to 15% loan receivable increase; active accounts also saw 8% rise whereas new account openings were down 13%. With their effective performance driving highly positive results such as 19 Basis Point decrease in Net Interest Margin alongside 390 BP drop from Efficiency ratio – all culminating into 550 BP reduction for Return on Equity (ROE) & 120 point cut back from Return On Assets(RoA).

      • Moshe Orenbuch of Credit Suisse lowered his price target from $38 to $37 while still keeping an Outperform rating.
      • James Fotheringham at BMO similarly decreased his prediction from $56 to $53 but kept an Outperform rating.
      • David Scharf at JMP raised his stock forecast from $39 to $42 with a Market Underperform tating.
      • Citi  Arren Cyganovich held onto a Buy while his stock forecast from $44 to $45.
      • Morgan Stanley analyst Betsy Graseck boosts her price target from $29 to $31.

      FTNT

      • Morgan Stanley analyst Hamza Fodderwala lowered his price target for Fortinet from $71 to $69 but maintained an Overweight outlook on their stock. Guggenheim analyst Raymond McDonough initiated coverage with a Neutral rating.
      • JP Morgan’s Brian Essex started with an Outperform rating and  price target at $69.

      AMZN

      Amazon is hoping to entice new Prime members with its latest RxPass perk, a $5 monthly subscription allowing customers to access over 80 common chronic conditions through 50 generic medications. This service builds on the e-commerce giant’s growing presence in health care – which began back in 2018 when they purchased PillPack and continued into 2020 as they launched their own pharmacy platform.

      • Telsey Advisory Group analyst Joseph Feldman maintains an Outperform rating for Amazon s despite lowering his price target from $140 to $125.

      MRNA

      • Morgan Stanley’s Matthew Harrison had reduced his price target from $209 to $205 while maintaining an Equal-Weight rating.

      The mRNA Vaccines market is projected to grow at a remarkable rate of 6.78% over the next seven years, reaching an estimated value of $91.14 Billion by 2029 according to Cognitive Market Research’s analysis .

      BKR

      Evercore ISI Group analyst James West is bullish on Baker Hughes and has raised his price target from $33 to an $37, while Susquehanna’s Charles Minervino also expressed a Positive opinion with a significantly higher forecast of up to $40.

      BX

      Morgan Stanley’s Michael Cyprys and JP Morgan’s Kenneth Worthington have given two thumbs-up to Blackstone, a “best in class” investment management business.

      • Cyprys upgraded his ratings from Neutral to Overweight while raising the price target to $113 from $110
      • Worthington upgraded his ratings from Neutral to Overweight while raising the price target from $104 to $105.

      CSTR

      • Janney Montgomery Scott and DA Davidson have both downgraded their outlook on CapStar , dropping the stock rating from Buy to Neutral, analyst Feddie Strickland set a price target of $19 while Kevin Fitzsimmons has a his price target at $18.5.

      CYBR

      • Brian Essex of JP Morgan initiated coverage with a Neutral rating and a price target at $147.
      • Hamza Fodderwala of MS maintained his Overweight rating albeit lowering his price target from $162 to $160, Fodderwala had his stock forecast above the stock price in the last six years.

       

      Caesars Entertainment

      Has announced the offering of Senior Secured Notes with a 7.00% annual interest rate and issue price equal to 100% of principal amount due 2030.

      • Steven Wieczynski from Stifel and Brandt Montour from Barclays have increased their respective buy/overweight ratings on Caesars as well as raise their respective prices targets from $63 to $68 and $65 to $66 respectively.

       

      DHR

      Dad a successful fourth quarter and year in 2022 – bolstered by an 25.0% increase in net earnings for the quarter, compared to 2021. Revenue rose 2.5%, with Non-GAAP core revenue growth of 7.5%. Over the full year period, their net earnings jumped 13.5%, while their adjusted diluted non-GAAP per common share increased 9%.

      Danaher

      Adjusted its definition of revenue growth and forecasted mid-single digit increases in Q1.

      • Baird’a Catherine Schulte and Barclays Luke Sergot who both maintained their Outperform/Overweight ratings on DNR while raising price targets to $321/$290 respectively.