Latest news with #SeaportResearch
Bloomberg
2 days ago
- Business
- Bloomberg
S&P, Nasdaq Climb as Apple Plans Provide Boost
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Nuveen's Tony Rodriguez, Cleo Capital's Sarah Kunst, Seaport Research Partners' David Joyce, AlixPartners' Jeff Goldstein, Manulife John Hancock Investments' Emily Roland, D.A. Davidson's Tom White, Remitly's Matt Oppenheimer, Informatica's Amit Walia, Intelligent Alpha's Doug Clinton. (Source: Bloomberg)
Yahoo
22-07-2025
- Business
- Yahoo
Seaport downgrades MGM, lifts Macau casino forecasts as Las Vegas outlook weakens
-- Seaport Research downgraded MGM Resorts (NYSE:MGM) and MGM China (OTC:MCHVY) to Neutral given a slowdown in Las Vegas and limited upside after a strong run in Macau stocks, even as it raised its Macau gaming forecasts and estimates for several companies. Macau's casino industry has shown stronger-than-expected momentum in the second quarter, with Seaport now expecting gross gaming revenue (GGR) to grow 7% for the full year and over 9% in the second half. The firm said sentiment toward China has improved despite lingering macro concerns, helped by stimulus and recent gains in tourism. While Macau-focused stocks remain below pre-pandemic valuation levels, Seaport noted that investor attention will shift to the sustainability of recent growth. It raised price targets across most of its coverage, except for MGM, which it sees under pressure from slower U.S. demand and rising capital spending tied to projects in New York and Japan. In the U.S., the firm flagged softness in Las Vegas as a near-term concern, though it expects no major downturn in the broader casino market. Top picks include Melco Resorts, Las Vegas Sands (NYSE:LVS), Sands China (OTC:SCHYY) and Wynn Macau (OTC:WYNMF). Seaport remains positive on Wynn Resorts (NASDAQ:WYNN) long-term, pointing to the potential of its UAE expansion. Related articles Seaport downgrades MGM, lifts Macau casino forecasts as Las Vegas outlook weakens After soaring 149%, this stock is back in our AI's favor - & already +25% in July If Powell goes, does Fed trust go with him? 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
Yahoo
21-07-2025
- Business
- Yahoo
Target downgraded, Dollar Tree upgraded: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The 5 Upgrades: Barclays upgraded Dollar Tree (DLTR) to Overweight from Equal Weight with a price target of $120, up from $95. The company is positioned to benefit from a trade down by consumes, which will accelerates in the second half of 2025, the firm tells investors in a research note. Morgan Stanley upgraded Pinterest (PINS) to Overweight from Equal Weight with a price target of $45, up from $37. The firm's advertising checks are constructive on Pinterest's improving ad efficiency and performance-driven growth. Morgan Stanley upgraded Etsy (ETSY) to Equal Weight from Underweight with a price target of $50, up from $38. The firm sees a more balanced catalyst path for the shares after they underperformed the S&P 500 Index by 20% over the past year. Seaport Research upgraded both Analog Devices (ADI) and Texas Instruments (TXN) to Neutral from Sell with no price target. While the firm sees "no strong catalysts," it acknowledges that it was "wrong" in its prior thought that the analog inventory cycle was not going to improve and the macro economy was slowing. Monness Crespi upgraded Fiserv (FI) to Neutral from Sell with no price target, telling investors that the firm sees fair value at about $155 per share. The firm's sense is that the market has been looking to revalue the stock as long as the Clover volume trajectory remains above double digits over the medium term and it recommends investors to "be ready" for the next opportunity. Top 5 Downgrades: Barclays downgraded Target (TGT) to Underweight from Equal Weight with an unchanged price target of $91. The firm says that absent a bigger strategic shift, the company's sales will continue to underperform. Needham downgraded Sarepta (SRPT) to Underperform from Hold without a price target. The company late Friday reported receiving an informal request from the FDA to voluntarily halt shipments of Elevidys and that it denied this request, the firm tells investors in a research note. Mizuho, Leerink, and Baird also downgraded Sarepta to Neutral-equivalent ratings, while Deutsche Bank cut its rating on the name to Sell. Truist downgraded Biogen (BIIB) to Hold from Buy with a price target of $142, down from $199, after a transfer in coverage. The stock's discounted multiple versus pees is warranted given the "suboptimal" growth outlook for Biogen's commercial franchise, the firm tells investors in a research note. Argus downgraded Elevance Health (ELV) to Hold from Buy, citing the ongoing pressures on the company's profit margins from medical cost trends in its Medicaid and ACA marketplace businesses. Truist downgraded Royal Caribbean (RCL) to Hold from Buy with a price target of $337, up from $275. Truist has observed a bounce-back in bookings since April's pullback, but when averaging March-early July's year over year bookings, demand pace is only up low-to-mid-single digits, well off the high-teens monthly pace that 2024 averaged, the firm tells investors in a research note. Top 5 Initiations: Loop Capital initiated coverage of Autodesk (ADSK) with a Hold rating and $320 price target. Loop is constructive on Autodesk's long-term prospects but believes the stock's current valuation reflects much of its expected growth and execution improvements. Benchmark initiated coverage of General Motors (GM) with a Buy rating and $65 price target, calling the stock "a compelling opportunity for investors seeking exposure to a durable, cash-generative U.S. industrial franchise with underappreciated upside potential." Oppenheimer initiated coverage of Affirm (AFRM) with an Outperform rating and $80 price target, offering 15% upside potential. The firm argues that Affirm stands out as a leader in the Buy Now, Pay Later space with its advanced underwriting, robust funding strategy, strong merchant relationships, and transparent pricing model. Stephens initiated coverage of Paylocity (PCTY) with an Equal Weight rating and $200 price target. The firm believes the company is well positioned to gain share "while navigating sub-optimal labor market conditions," but believes the valuation reflects expectations of a conservative guide with modest outperformance. Barclays initiated coverage of Kroger (KR) with an Equal Weight rating and $75 price target. The firm is positive on Kroger's post-deal refocus. Barclays also started Sprouts Farmers (SFM) with an Equal Weight and Albertsons (ACI) with an Underweight. 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
Yahoo
14-07-2025
- Business
- Yahoo
Rivian downgraded, PayPal upgraded: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The 5 Upgrades: Seaport Research upgraded PayPal (PYPL) to Neutral from Sell without a price target. The firm says potential tariff impacts to the company's business are proving better than feared. Seaport Research upgraded MasterCard (MA) to Buy from Neutral with a $616 price target. The firm expects "strong compounding" of the company's earnings and views the recent pullback in the shares as a buying opportunity. Deutsche Bank upgraded Hyatt (H) to Buy from Hold. The firm believes Hyatt has the "best catalyst path in lodging looking forward." Barclays upgraded SolarEdge (SEDG) to Equal Weight from Underweight with a price target of $29, up from $12. The firm believes the One Big Beautiful Bill creates an "uneven playing field" for loans and cash in solar versus leases, and now expects SolarEdge to see 20% sales growth. Raymond James upgraded Paymentus (PAY) to Outperform from Market Perform with a $37 price target. The firm views the stock's 29% pullback since May 19 as a "compelling buying opportunity." Top 5 Downgrades: Guggenheim downgraded Rivian (RIVN) to Neutral from Buy without a price target. The firm cites softer long-term R2/R3 assumptions driven by softer R1 sales and negative U.S. Electric Vehicle and Emissions policy changes for the downgrade. BTIG downgraded Affirm (AFRM) to Neutral from Buy without a price target. BTIG worries that Affirm will continue to experience Revenue Less Transaction Costs margin pressure like they experienced last quarter, while at the same time not showing accelerating gross merchandise value growth. Piper Sandler downgraded Best Buy (BBY) to Neutral from Overweight with a price target of $75, down from $82. While the shares have underperformed year-to-date and expectations are low, Best Buy lacks meaningful catalysts in the coming quarters to meaningfully accelerate comp and earnings growth, the firm tells investors in a research note. Evercore ISI downgraded Procter & Gamble (PG) to In Line from Outperform with a price target of $170, down from $190. Macro pressures are transient, but the firm's concern lies in adverse shifts in retail channels that challenge Procter's growth potential, and could cap Procter's sales growth below the 4% needed to drive operating leverage. Morgan Stanley downgraded CrowdStrike (CRWD) to Equal Weight from Overweight with a price target of $495, up from $490. The firm sees a full valuation with the shares up 50% from the April lows. Top 5 Initiations: Argus initiated coverage of Coinbase (COIN) with a Buy rating and $400 price target. Coinbase is in the early stages of expanding into other crypto products, and while its valuations are "off the charts," its margins are higher than the peer group and its growth runway is promising, justifying the premium, Argus says. Melius Research rolled out coverage on 11 names in the restaurant group. The firm says restaurants are no longer competing just with each other, but with grocers and concipient stores for meal occasions. The firm put Sell ratings on McDonald's (MCD) and Starbucks (SBUX), Buy ratings on Yum! Brands (YUM), Texas Roadhouse (TXRH), Restaurant Brands (QSR) and Dutch Bros (BROS), and Hold ratings on Chipotle (CMG), Darden (DRI), Domino's Pizza (DPZ), Cava Group (CAVA) and Wingstop (WING). Gordon Haskett initiated coverage of Carvana (CVNA) with a Hold rating and $329 price target. With Carvana trading at a material premium to peers and recent tariff-driven demand pull-forward likely to pressure volumes over coming quarters, the firm sees limited multiple expansion ahead. Needham initiated coverage of Shopify (SHOP) with a Buy rating and $135 price target. Shopify remains in just the mid-cycle of a durable growth opportunity, as consumer spending remains strong and the recent U.S. tax bill can spur near-term consumer spend that can positively impact Shopify's GMV, the firm tells investors in a research note. Jefferies initiated coverage of BridgeBio (BBIO) with a Buy rating and $70 price target. The firm believes Attruby could become a blockbuster pill with $4B in sales in transthyretin amyloid cardiomyopathy. Sign in to access your portfolio
Yahoo
07-07-2025
- Business
- Yahoo
Netflix Gets Downgraded After Hitting Record Highs; Wall Street Cools Its Hype
After soaring to an all-time high of $1,341.15 just days ago, Netflix (NFLX, Financials) is now getting a reality check; Seaport Research analyst David Joyce just downgraded the stock to neutral, saying it may be time for the streaming giant to pause and prove itself. Netflix closed Monday at $1,289.14 just off its record but Joyce thinks the stock only has about 10% room to run over the next year; in his view, the future is already priced in. The big issue? Execution. Joyce says Netflix needs time to deliver on several big bets from building out its ad-supported model, to bundling third-party content like France's TF1 Group, to launching real-world attractions like Netflix House, which opens in Philadelphia and Dallas later this year. He's also cautious ahead of Netflix's Q2 earnings on July 17; volatility is expected. This article first appeared on GuruFocus. 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
