Selected stock price target news of the day - October 19th, 2023

By: Matthew Otto

 

Netflix Beating Q3 Earnings Expectations and Revealing Optimistic Outlook

Netflix has reported financial performance for the third quarter of the year, announced an earnings of $3.73 per share, surpassing the consensus estimate of $3.49 among analysts. Revenue for the quarter stood at $8.54 billion, meeting expectations, while paid subscription net additions reached 8.8 million, surpassing the estimated 6.1 million. Netflix’s optimistic outlook includes a revenue forecast of $8.7 billion for the current quarter, slightly below the consensus view of $8.78 billion. The company’s commitment to resolving the ongoing work stoppage with SAG-AFTRA is emphasized, underlining its dedication to ensuring the resumption of content production.

 

Furthermore, Netflix expected an operating profit margin of 20% for 2023, at the high end of its earlier guidance. Management anticipates even better operating margins in the coming year, with a projected range of 22% to 23%. The company has made strategic pricing adjustments, increasing the U.S. monthly prices of its Premium and Basic plans. The Premium plan rises from $19.99 to $22.99, while the Basic plan goes from $9.99 to $11.99. 

 

Analysts Bullish on Netflix as Price Targets Get a Boost

  • Truist Securities analyst Matthew Thornton upgraded from Hold to Buy and raised the price target to $465.
  • Oppenheimer analyst Jason Helfstein maintained an Outperform rating and increased the price target from $470 to $475.
  • Keybanc analyst Justin Patterson upgraded from Sector Weight to Overweight and announced a $510 price target.
  • JPMorgan analyst Doug Anmuth raised the price target to $480.
  • Rosenblatt analyst Barton Crockett reiterated a Neutral rating and raised the price target to $404.
  • Deutsche Bank analyst Bryan Kraft kept a Buy rating and lowered the price target from $485 to $460.

 

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

Analyst Matthew Thornton (TRUIST) currently has the highest performing score on NFLX with 27/30 (90%) price target fulfillment ratio. His price targets carry an average of $59.88 (15.57%) potential upside. Netflix stock price reaches these price targets on average within 195 days. 

 

 

 

United Airlines Q3 Revenue of $14.5 Billion Amidst Operational Challenges

In the third quarter of 2023, United Airlines Holdings reported a revenue growth of 12.5% to reach $14.5 billion. Earnings per share of $3.65, surpassing expectations of $3.41. The positive results were attributed to United’s diverse revenue streams, resilient global network, and strategic capacity adjustments. Despite facing challenges such as the suspension of services to Tel Aviv due to geopolitical events, the airline demonstrated operational resilience and achieved a solid pretax margin of 10.8%.

 

The focus on cost management and efficiency was evident in the 2.6% year-over-year increase in CASM-ex (cost per available seat mile, excluding special items). However, fuel prices posed a challenge, with the average fuel price for the quarter ending $0.30 higher than the midpoint of the initial July expectation. The company also emphasized their growth strategy, with recent fleet developments, including the delivery of 18 Boeing 737 MAX aircraft and the order for 60 A321neos and 50 787s. 

 

Analysts Adjust Ratings and Price Targets Amid Market Dynamics

  • Raymond James analyst Savanthi Syth Maintained an Outperform rating and adjusted the price target from $70 to $68.
  • Susquehanna analyst Christopher Stathoulopoulos Reiterated a Neutral rating and lowered the price target from $44 to $40.
  • Citigroup analyst Stephen Trent Maintained a Buy recommendation and lowered the price target from $76 to $71.

 

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

Analyst Andrew Didora (BAML) currently has the highest performing score on UAL with 19/20 (95%) price target fulfillment ratio. His price targets carry an average of $4.74 (7.06%) potential upside. United Airlines Holdings stock price reaches these price targets on average within 227 days.

 

 

 

Abbott Laboratories Q3 2023 Performance with Double-Digit Growth

Abbott Laboratories announced financial results for the third quarter of 2023, with an adjusted earnings per share of $1.14. The company’s nutrition segment saw an 18% increase in sales, fueled by a 25% growth in pediatric nutrition. Adult nutrition also performed well, experiencing a 12% growth, driven by demand for flagship products such as Ensure and Glucerna. The Established Pharmaceuticals segment reported an 11% increase in sales, with broad-based growth observed across various markets and therapeutic areas, including cardiometabolic, women’s health, and CNS pain management.

 

In diagnostics, excluding COVID testing, Abbott achieved a 10% organic sales growth. Core lab diagnostics, a key component, recorded double-digit growth globally, showcasing increased demand for routine diagnostic testing. Rapid diagnostics, excluding COVID-related sales, also posted double-digit organic sales growth, boosted by higher demand for respiratory tests ahead of the anticipated flu season. Medical devices exhibited a remarkable overall sales growth of nearly 15%, with FreeStyle Libre in diabetes care contributing significantly with $1.4 billion in sales and a notable 28% growth. The cardiovascular devices category reported a 10% overall sales increase, led by double-digit growth in electrophysiology and structural heart. The neuromodulation segment demonstrated a 19% sales growth, driven by the successful launch of Eterna, Abbott’s first rechargeable neural stimulation device for pain management.

 

 Analysts Adjusted Price Targets Amidst Varied Outlooks 

  • Wells Fargo analyst Lawrence Biegelsen maintained an Overweight rating but lowered the price target from $136 to $116.
  • Raymond James analyst Jayson Bedford reiterated an Outperform rating and downgraded the price target from $123 to $110.
  • Morgan Stanley analyst Patrick Wood lowered the price target to $107.
  • Barclays analyst Matt Miksic set his price target to $133.
  • UBS analyst Danielle Antalffy moved his price target to $122.

 

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

Analyst Anthony Petrone (MIZUHO) currently has the highest performing score on ABT with 2/3 (66.67%) price target fulfillment ratio. His price targets carry an average of $2.42 (2.52%) potential upside. Abbott Laboratories stock price reaches these price targets on average within 16 days.

 

 

 

Daily stock Analysts Top Price Moves Snapshot