Stock Market News

5 analyst picks of the day: Nike upped on Q3 beat | Pro Recap

2023.03.24 12:06


© Reuters.

By Davit Kirakosyan

Investnig.com — Here is your daily Pro Recap of the biggest analyst upgrades you may have missed since yesterday.

Nike upgraded at Barclays on a high probability of margin upside

Barclays upgraded Nike (NYSE:) to Overweight from Equalweight and raised its price target to $154.00 from $110.00 on its belief in a high probability of margin upside.

“Combining improving freight relief as we enter FY24 with reduced promotional pressure, we believe the visibility on gross margin recapture is significantly improved,” said the firm.

The company reported its Q3 results on Tuesday, which, according to Barclays, demonstrated the company’s “broad-based brand strength in spite of a weakening consumer macro backdrop.”

Q3 EPS came in at $0.79, better than the consensus estimate of $0.55. Revenue was $12.4 billion, beating the consensus estimate of $11.47B. The company expects fiscal 2023 revenue to grow high single-digits, an improvement from mid-single-digit guidance in the prior quarter.

As always, InvestingPro subscribers got this news in real time. Get faster headlines for better, data-driven decisions.

Two analysts upgraded Regeneron Pharma following a positive Dupixent data announcement

Regeneron Pharmaceuticals (NASDAQ:) was upgraded at Jefferies and Raymond James after the company announced positive data from the Phase 3 trial evaluating Dupixent in chronic obstructive pulmonary disease (COPD) indication. As a result, shares gained more than 6% yesterday.

Jefferies upgraded the stock to Buy from Hold and raised its price target to $925.00 from $675.00.

Meanwhile, Raymond James upgraded to Market Perform from Underperform as it believes there are limited remaining clinical downside catalysts during 2023, but it does expect the continued debate around the outlook for EYLEA, VABYSMO, and 8mg aflibercept to weigh on the stock.

Accolade upgraded to Buy

Guggenheim upgraded Accolade (NASDAQ:) to Buy from Neutral with a price target of $16.00. Shares jumped more than 10% yesterday.

“We began warming up to the name after seeing the results of our benefits management survey that highlighted Advocacy/Navigator benefits as an increasing area of focus,” said the firm, adding that the company has had a strong 2022 selling season, demonstrated solid gross revenue retention, and indicated a faster than expected path to cash break even.

With the improved growth outlook and profitability, the firm believes that investors are likely to reward the company with a higher multiple.

2 more picks

Citi upgraded Pioneer Natural Resources (NYSE:) to Buy from Neutral and raised its price target to $210.00 from $193.00. According to the firm, capital efficiency should improve for domestic E&Ps on lower service rates, while Pioneer Natural Resources should also experience rising well productivity in H2/23.

Rosenblatt initiated coverage on Five9 (NASDAQ:) with a Buy rating and a price target of $85.00.

“The stock is currently trading at 4.8x our FY23 revenue estimate of $0.9B of revenue. We believe the stock deserves to be re-rated at least halfway back to its pre-pandemic range of 10x-12x,” said the firm, noting that this new level would be supported by better growth, profitability and increased exposure to AI/Automation to its product profile and expanding its market reach upmarket and internationally.

InvestingPro | Be The First To Know

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,175.30 5.43%
ethereum
Ethereum (ETH) $ 3,494.95 6.69%
tether
Tether (USDT) $ 1.00 0.19%
xrp
XRP (XRP) $ 2.32 8.65%
bnb
BNB (BNB) $ 696.61 3.98%
solana
Solana (SOL) $ 198.37 9.41%
dogecoin
Dogecoin (DOGE) $ 0.336882 10.80%
usd-coin
USDC (USDC) $ 1.00 0.21%
cardano
Cardano (ADA) $ 0.944553 9.35%
staked-ether
Lido Staked Ether (STETH) $ 3,492.55 6.67%
tron
TRON (TRX) $ 0.258425 4.52%
avalanche-2
Avalanche (AVAX) $ 40.90 14.32%
chainlink
Chainlink (LINK) $ 24.70 11.45%
the-open-network
Toncoin (TON) $ 5.77 7.27%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,128.33 5.99%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 10.18%
sui
Sui (SUI) $ 4.62 11.93%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,739.19 5.13%
hedera-hashgraph
Hedera (HBAR) $ 0.32088 21.60%
stellar
Stellar (XLM) $ 0.397438 13.95%
polkadot
Polkadot (DOT) $ 7.58 10.55%
hyperliquid
Hyperliquid (HYPE) $ 30.18 14.21%
weth
WETH (WETH) $ 3,496.73 6.86%
bitcoin-cash
Bitcoin Cash (BCH) $ 476.87 10.27%
uniswap
Uniswap (UNI) $ 14.62 8.32%
leo-token
LEO Token (LEO) $ 9.44 0.53%
litecoin
Litecoin (LTC) $ 110.50 10.93%
pepe
Pepe (PEPE) $ 0.000019 10.87%
bitget-token
Bitget Token (BGB) $ 4.94 22.40%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,691.39 6.73%
near
NEAR Protocol (NEAR) $ 5.62 12.31%
ethena-usde
Ethena USDe (USDE) $ 0.999856 0.20%
aave
Aave (AAVE) $ 377.54 13.43%
aptos
Aptos (APT) $ 9.86 9.65%
internet-computer
Internet Computer (ICP) $ 11.18 12.88%
usds
USDS (USDS) $ 1.00 0.35%
crypto-com-chain
Cronos (CRO) $ 0.166715 9.30%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.531999 13.63%
vechain
VeChain (VET) $ 0.053385 18.74%
ethereum-classic
Ethereum Classic (ETC) $ 28.26 9.11%
mantle
Mantle (MNT) $ 1.24 7.49%
render-token
Render (RENDER) $ 7.95 14.68%
bittensor
Bittensor (TAO) $ 503.05 13.13%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.42 13.10%
mantra-dao
MANTRA (OM) $ 3.81 9.27%
monero
Monero (XMR) $ 192.66 1.30%
whitebit
WhiteBIT Coin (WBT) $ 24.67 1.40%
arbitrum
Arbitrum (ARB) $ 0.831268 10.90%
dai
Dai (DAI) $ 1.00 0.18%
algorand
Algorand (ALGO) $ 0.405112 16.18%