Selected stock price target news of the day - December 22nd, 2023

By: Matthew Otto

 

Carnival Surpasses Expectations: Riding High on Steady Demand

Carnival Corporation reported a performance in its fourth-quarter results, posting a net loss of $48 million, or 4 cents per share. This marked an improvement from the previous year’s loss of $1.6 billion, or $1.27 per share. Analysts had estimated a loss of 13 cents per share, highlighting Carnival’s outperformance against expectations. The company’s revenue for the quarter stood at $5.4 billion, surpassing market expectations of $5.31 billion. Carnival’s outlook extends to its first-quarter projections, with the company anticipating a core earnings increase of more than double compared to the same period in the previous year. 

 

Analyst Confidence as Price Targets Surge on Positive Outlook

  • Wells Fargo analyst Daniel Politzer maintained an Equal-Weight rating and raised the price target from $16 to $22.
  • Stifel analyst Steven Wieczynski reiterated a Buy rating and increased the price target from $22 to $25.
  • Barclays analyst Brandt Montour kept an Overweight rating and raised the price target from $22 to $24.
  • Deutsche Bank analyst Chris Woronka maintained a Hold rating and increased the price target from $14 to $18.

 

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

Analyst Christopher Stathoulopoulos (SUSQUEHANNA) currently has the highest performing score on CCL with 5/6 (83.33%) price target fulfillment ratio. His price targets carry an average of $2.36 (17.30%) potential upside. Carnival Corporation stock price reaches these price targets on average within 127 days. 

 

 

 

Nike’s Cost-Cutting Plan Amid Revenue Downturn

Nike has unveiled a plan to trim costs by a staggering $2 billion over the next three years. The company revised its full-year reported revenue outlook, now anticipating only a 1% growth compared to the earlier mid-single digits projection. Amid macroeconomic headwinds, particularly in Greater China and EMEA, Nike plans to streamline operations by reducing management layers, simplify its product assortment, and leverage technology, all while expecting reported revenue to be slightly negative in the current quarter. The cost-cutting initiative, set to cost the company between $400 million and $450 million in pretax restructuring charges, includes a focus on employee severance costs and follows recent reports of quiet layoffs. Nike showed a gross margin turnaround of 1.7 percentage points to 44.6%, beating estimates, and an increase in earnings per share to $1.03 against the expected 85 cents..

 

Analysts’ Mixed Signals: Varied Ratings and Price Target Adjustments

  • BMO Capital analyst Simeon Siegel maintained an Outperform rating and raised the price target from $110 to $118.
  • Raymond James analyst Rick Patel kept an Outperform rating and reduced the price target from $130 to $124.
  • Stifel’s Jim Duffy reiterated a Buy rating and adjusted the price target downward from $135 to $129.
  • TD Cowen analyst John Kernan downgraded from Outperform to Market Perform and the price target from $129 to $104.
  • Deutsche Bank analyst Gabriella Carbone reiterated a Buy rating and trimmed the price target from $132 to $128.

 

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

Analyst Rick Patel (RAYMOND JAMES) currently has the highest performing score on NKE with 12/16 (75%) price target fulfillment ratio. His price targets carry an average of $7.36 (6.00%) potential upside. Nike stock price reaches these price targets on average within 122 days.

 

 

 

Paychex Fiscal 2024 Guidance Sparks Hope Amid Quarterly Revenue Miss

Despite Paychex beating Wall Street estimates with adjusted earnings of $1.08 per share for the fiscal second quarter, the company’s total revenue of $1.26 billion failed to meet the anticipated $1.27 billion. In response to the market reaction, Paychex revised its fiscal year outlook, projecting a growth of 7% to 9% for the Professional Employer Organization and Insurance Solutions segment. Moreover, the company raised expectations for fiscal 2024 adjusted earnings, forecasting a growth between 10% and 11%, up from the earlier guidance of 9% to 11%.

 

Mixed Analyst Sentiments as Targets Adjust Amid Market Volatility

  • Stifel analyst David Grossman maintained a Hold rating and raised the price target from $124 to $130.
  • Barclays analyst Ramsey El-Assal kept an Equal-Weight stance and lowered the price target from $126 to $120.
  • TD Cowen analyst Bryan Bergin downgraded from Outperform to Market Perform and the price target from $132 to $123.

 

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

Analyst Moshe Katri (WEDBUSH) currently has the highest performing score on PAYX with 3/5 (60%) price target fulfillment ratio. His price targets carry an average of $2.28 (2.02%) potential upside. Paychex stock price reaches these price targets on average within 276 days.

 

 

 

Daily stock Analysts Top Price Moves Snapshot