My high 10 issues to look at Monday, July 24
1. Chevron (CVX) on Sunday introduced glorious preliminary second-quarter results, whereas extending the contract of CEO Mike Wirth. The USA’ second-largest oil agency in Might introduced an settlement to increase its shale operations by buying PDC Energy (PDCE) in a deal valued at $7.6 billion, together with debt. Chevron is ready to launch its full second-quarter report on Friday.
2. Truist on Monday lowered its worth goal on Membership oil title Pioneer Natural Resources (PXD) to $196 a share, from $220, whereas sustaining a maintain score on the inventory. The agency mentioned it expects free money move for many exploration-and-production corporations like Pioneer to be down over 50% given decrease commodity costs.
3. Piper Sandler on Monday downgraded Membership title Estee Lauder (EL) to impartial, from a buy-equivalent score. The agency additionally lowered its worth goal on the cosmetics agency to $195 a share, down from $265. That is the results of of the downfall of the Chinese language client, which appears infinite.
4. Deutsche Financial institution on Monday raised its worth goal on Membership holding Apple (AAPL) to $210 a share, up from $180, citing upside to the tech large’s iPhone, Mac and companies revenues. Apple is ready to report fiscal third-quarter outcomes on Aug. 3.
5. UBS on Monday downgraded electric-vehicle maker Tesla (TSLA) to carry, from purchase, noting “very restricted” upside to the corporate’s share worth going ahead. Nonetheless, the agency raised its worth goal on Tesla to $270 a share, up from $220.
6. Mizuho on Monday raised its worth goal on Membership holding Nvidia (NVDA) to $530 a share, up from $400, whereas sustaining a purchase score on the inventory. The analysts cited accelerating demand for generative synthetic intelligence.
7. KeyBanc on Monday, in a name I really like, raised its worth goal on Airbnb (ABNB) to $160 a share, from $135, on the again of reaccelerating journey spending. The agency reiterated an obese, or purchase, score on Airbnb inventory.
8. Mizuho on Monday raised its worth goal on Intel (INTC) to $33 a share, from $30, arguing semiconductor group multiples have improved. The agency maintained a impartial score on the inventory.
9. Raymond James on Monday upgraded home-construction firm DR Horton (DHI) to outperform, or purchase, from market carry out on the again its “excellent” fiscal third-quarter outcomes. The agency, which has a worth goal of $160 on DHI shares, famous an “spectacular rebound” in homebuilding margins.
10. Wells Fargo on Monday downgraded its score on Interpublic Group (IPG) to equal weight, or impartial, from obese, forward of a late-cycle downturn. The agency lowered its worth goal on IPG to $33 a share, from $43.
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