Sarepta price target lowered to $30 from $84 at JPMorgan
JPMorgan lowered the firm's price target on Sarepta (SRPT) to $30 from $84 and keeps an Overweight rating on the shares. The firm made changes to its revenue assumptions for key Elevidys post the disclosure of second non-ambulatory patient death.
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Oil prices climb on fears Iran will blockade supplies
STORY: Oil prices climbed to their highest in five months on Monday as fears grew over what conflict in the Middle East could mean for supplies. Traders are waiting to see what Iran does next, after the U.S. struck its key nuclear facilities. Media reports say the country's parliament has approved a move to close the Strait of Hormuz. That's the narrow waterway between Iran and Oman, through which around a fifth of the world's oil is moved. Although there are also pipeline routes out of the region, experts say they won't be enough to make up for a halt to shipping. The concerns saw international benchmark Brent crude up around 1.5% in Asian morning trade Monday, with U.S. crude posting similar gains. Both are up 10% or more since the conflict began. One analyst told Reuters that a move by Iran to disrupt shipping could see oil hit $100 per barrel, up from around $78 now. That could spur inflation and mean higher gasoline prices around the world. Stock prices headed the other way on Monday, with Japan's Nikkei index down 0.5% early on. But analysts said there was no sign yet of panic selling across markets. Optimists cited hopes that regime change in Iran could bring a more moderate government to power. Though analysts at JPMorgan cautioned that past episodes of upheaval in the Middle East typically resulted in oil prices spiking by 76%.
Business Insider
4 hours ago
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Dassault Systemes price target lowered to EUR 27 from EUR 28 at Jefferies
Jefferies lowered the firm's price target on Dassault Systemes (DASTY) to EUR 27 from EUR 28 and keeps an Underperform rating on the shares. The firm says ongoing macro uncertainty means positive surprises are unlikely in the company's Q2. It believes questions over whether Dassault will meet guidance are persist until year-end. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Yahoo
4 hours ago
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Oil prices rise after US strikes on Iran with Strait of Hormuz status in focus
Oil futures rose on Sunday night after US strikes on Iran's three main nuclear sites intensified fears of a potential supply shock, amid the threat that Tehran could retaliate by closing a key maritime chokepoint. Brent crude (BZ=F), the international benchmark, gained as much as 5.7% before paring gains to trade near $79 per barrel. West Texas Intermediate (CL=F) futures also jumped more than 2% to trade north of $75 per barrel. Oil prices had already posted weekly gains on Friday following the outbreak of conflict between Israel and Iran more than a week ago. On Sunday, traders weighed possible retaliation moves from Iran, a major oil producer and exporter, following the US's direct involvement. According to state media, Iran's parliament voted to close the Strait of Hormuz. The final decision on whether to shut the vital waterway — which handles roughly 20% of global oil flows — rests with Iran's Supreme National Security Council and Supreme Leader Ayatollah Ali Khamenei. What Wall Street once viewed as a low-probability event is now being treated as a significantly heightened risk. "Should oil exports through the Strait of Hormuz be affected, we could easily see $100 oil," said Andy Lipow, president of Lipow Oil Associates. Following the outbreak of the Israel-Iran war, JPMorgan analysts forecast that under a "severe outcome," a closure of the Strait of Hormuz could push oil prices to $120–$130 per barrel. If crude climbs into that range, analysts predict gasoline and diesel prices could rise by as much as $1.25 per gallon. 'Consumers would be looking at a national average gasoline price of around $4.50 per gallon—closer to $6.00 if you're in California,' Lipow said. Other possible retaliatory moves from Iran could include supporting Yemen's Houthi rebels in renewed attacks on commercial shipping. If the conflict escalates and the US or Israel targets Iran's oil export infrastructure, analysts warn that Tehran may retaliate by striking facilities in neighboring countries. 'In other words, 'If we can't export our oil, you can't have yours,'' Lipow said. The key issue isn't just the potential for disruption, but how long it lasts, Rebecca Babin, senior energy trader at CIBC Private Wealth, told Yahoo Finance on Sunday. 'If infrastructure is hit but can be quickly restored, crude may struggle to hold gains,' she said. 'But if Iran's response causes lasting damage or introduces long-term supply risk, we're likely to see a stronger and more sustained move higher.' Last week, JPMorgan analysts noted that since 1967 — aside from the Yom Kippur War in 1973 — none of the 11 major military conflicts involving Israel have had a lasting impact on oil prices. In contrast, events directly involving major regional oil producers — such as the first Gulf War in 1990, the Iraq War in 2003, and the imposition of sanctions on Iran in 2018 — have all led to meaningful and sustained moves in oil markets. 'During these episodes, we estimate that oil traded at a $7–$14 per barrel premium to its fair value for an extended period,' wrote JPMorgan's Natasha Kaneva and her team. They added that the most significant and lasting price impacts historically come from 'regime changes' in oil-producing countries — whether that be through leadership transitions, coups, revolutions, or major political shifts. 'While demand conditions and OPEC's spare capacity shape the broader market response, these events typically drive substantial oil price spikes, averaging a 76% increase from onset to peak,' Kaneva wrote. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) had raised output in the months leading up to Israel's strike on Iran on June 13. Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
