By Davit Kirakosyan
Halliburton (NYSE:HAL) shares rose more than 4% intra-day today after Wells Fargo upgraded the company to Overweight from Equal Weight and raised its price target to $52.00 from $33.00. The company reported better-than-expected Q3 results yesterday.
Pivotal Research upgraded Netflix (NASDAQ:NFLX) to Buy from Sell and raised its price target to $375.00 from $200.00. The upgrade was driven by a number of reasons, including (1) an increase in its admittedly conservative 2023 net new subscriber forecasts from 5.5 million to 15 million (vs. consensus of 12.5 million), (2) competitors are taking price (including Apple (NASDAQ:AAPL) yesterday) which Pivotal views as fundamentally positive, (3) while Pivotal remains concerned about consumer churn down to $7 ad-supported packages (particularly in a recession) that is unlikely to develop into a potential issue until H2/23 at the earliest, and (4) stock appears to be a relatively attractive place for investors to be amidst major slowdowns in digital advertising. Shares were up more than 2% intra-day today.
Deutsche Bank upgraded Humana (NYSE:HUM) to Buy from Hold and raised its price target to $576.00 from $514.00 on the back of its recent AEP-Palooza event, where six regional independent MA brokers confirmed the solidifying of the company’s leading position in MA, and the rising challenges facing many of its competitors.
Goldman Sachs upgraded Biogen (NASDAQ:BIIB) to Buy from Neutral and raised its price target to $370.00 from $271.00 as it believes the company is now poised to address the early Alzheimer’s disease market in 2023+ following the recent topline lecanemab Ph3 (CLARITY-AD) data. Yesterday, the company released a Q3 beat and raised its guidance. Shares were trading more than 2% higher intra-day today.
Want to get this news first? Upgrade to InvestingPro for real-time market coverage.