Become a logicalchat Member

Latest Post

Great stocks to buy right now in usa for short & Long term-Best stocks to buy in 2024-2025

Stock Analysis: Great Stocks to Buy Right Now – Humana Inc (HUM) When searching for opportunities in the stock market, one of the great stocks...

Your story starts here. Sign up and let's connect in ways that truly matter!

HomeUncategorizedUpgrades and Downgrades: Lockheed Martin, Beyond Receives Upgrade; Netflix, Crocs Faces Downgrade.

Upgrades and Downgrades: Lockheed Martin, Beyond Receives Upgrade; Netflix, Crocs Faces Downgrade.

Upgrades and Downgrades by Wall Street analysts bullish on Lockheed Martin, Beyond while downgrading Netflix, Crocs

Lockheed Martin

JPMorgan Upgrades Lockheed Martin

  • Upgraded to Overweight.
  • Price target: $518..

JPMorgan’s Analysis of Lockheed Martin’s Performance

  • Lockheed Martin has not kept pace with the broader market, falling 5% over the past year despite a 26% market increase.
  • The bank attributed the decline in defense budget growth, political disturbances, and specific company issues to macroeconomic factors.
  • Despite these challenges, the defense industry received the FY24 budget, easing concerns.
  • JPMorgan anticipates additional funding for defense initiatives in Ukraine, Israel, Taiwan, and others.
  • The bank suggests a shift in market sentiment could favor defense stocks, with Lockheed positioned as a key indicator.
  • Lockheed stock traded higher on premarket headlines, gaining around 1.50%.

Crocs

Williams Trading Downgrades Crocs

  • Mid-morning: Hold
  • Price target: $125

Williams Trading Downgrades Crocs Rating

  • Crocs downgraded from ‘Buy’ to ‘Hold’ by Williams Trading.
  • Estimates and price target reduced from $135 to $125.
  • Sales of HEYDUDE, improving in men’s, not robust enough for a year-on-year increase in 2024.
  • HEYDUDE President, Rick Blackshaw, stepping down.
  • Terence Reilly appointed as new EVP & President of HEYDUDE.
  • Williams Trading sees it challenging for HEYDUDE to regain momentum.
  • Hold rating means stock’s total return expected to exceed more than 15% over the next 12-month investment horizon.

Beyond (NYSE:BYON)

Maxim Covers Beyond (NYSE:BYON)

  • Initiated coverage at Buy.
  • Targets $50 price.

Maxim’s Outlook on Beyond

  • Maxim’s optimistic outlook is driven by Beyond’s potential to leverage key trends in the “Consumer Internet: 24 Trends for 2024” report.
  • The firm will monitor the interest rate landscape to see if lower rates could boost the home e-commerce sector.
  • Maxim’s endorsement signifies confidence in Beyond’s strategic positioning to capitalize on market dynamics and drive growth.
  • Beyond’s stock traded higher on premarket headlines, opening at $24.31 and closing at $23.86, a 1.27% gain.

Etsy

Morgan Stanley Downgrades Etsy

  • Etsy downgraded to Underweight.
  • Price target: $55

Morgan Stanley’s Analysis of Etsy’s GMS Growth

  • Etsy has maintained a 165% growth in GMS since 2019, but is nearing market saturation.
  • Despite attracting 57 million new buyers and reactivating 51 million since 2021, Etsy’s core GMS has declined by 5% year-over-year.
  • The decline is partly due to a 7% year-on-year decrease in GMS per buyer, impacted by a tough macroeconomic environment.
  • Morgan Stanley expects GMS to reach a CAGR of approximately 3% from 2023 to 2026 due to diminishing greenfield opportunity.
  • The bank’s 2025/2026 GMS estimates fall below consensus due to the trade-off between GMS growth and profitability.
  • The stock’s total return is expected to be below the average total return of the analyst’s industry coverage universe over the next 12-18 months.

Netflix

Netflix Downgraded by Canaccord

  • Netflix downgraded to Hold.

Netflix’s Q2 Revenue and Profitability Report

  • Netflix’s revenue boosted by member additions and expanded paid sharing offering.
  • Profitability outperformed guidance.
  • Q2 revenue aligns with expectations, while operating income guidance surpasses consensus.
  • FY24 revenue guidance of 13-15% year-on-year, slightly below consensus.
  • FY24 operating margin guidance increased to 25% from 24%.
  • Canaccord sees limited growth catalysts for the next few quarters.
  • Stock downgraded to ‘Hold’ due to potential upside.
  • Stock closed 9% lower than Thursday’s close.

Must read book about investing – check here

Upgrades and Downgrades Upgrades and Downgrades Upgrades and Downgrades Upgrades and Downgrades

Related Post