Analysts at Barclays have modestly increased their price target for PepsiCo (NASDAQ:PEP) following the beverage giant’s third quarter financial results on their view the company is “playing the long game.”
They upped their price target from US$179 to US$181 and maintained their ‘Overweight’ rating.
Unity Software Inc (NYSE:U)’s CEO retirement announcement is likely a good start to rebuilding trust with customers and investors, but also adds uncertainty about future financial targets and possibly its overall growth strategy, according to Jefferies analysts.
In an update to clients, they reduced their target price on Unity Software stock by 2% to $29 per share, believing the company will likely not be able to meet its current financial targets.
The investor pullback on Square parent Block Inc (NYSE:SQ) shares has been “largely unjustified,” analysts at Bank of America (BoA) believe.
They maintain their ‘Buy’ rating on the stock and price objective of US$71. Block shares traded hands at US$46.15 early on Wednesday afternoon.
As shares in property investment trusts continue to endure wide discounts to their net asset value, broker Numis said if interest rates are at or near their peak then the sector offers "selective value".
The discounts average around 32% across the sector, with as low as 6% up to 58% at the top. Meanwhile, the sector dividend yield is around 7.5%.
Marston's PLC, the pub group listed on the FTSE 250, has released an encouraging trading update for the 52-week period ending in September.
The update highlighted strong underlying sales momentum and outlined plans for further cost savings and margin improvements.
BP PLC's (LSE:BP.) shares are worth almost double their current price, Barclays says, following the oil supermajor's latest capital markets update.
Oil and gas equity analysts at the bank said on Wednesday that they expect BP’s share price would represent fair value at 1000p, saying they expect a positive reaction to the company's capital markets event in Denver, of which today is the second day.
Louis Vuitton Moet Hennessy (EPA:MC), the luxury goods conglomerate, missed revenue targets by about 4% in the third quarter as the high-end goods market experienced a slowdown and with shares slipping close to 6%, analysts are expecting further troubles to ensue.
Prior to the results, JPMorgan Chase & Co (NYSE:JPM) claimed that while headwinds facing LVMH are likely to be felt across the whole industry it did not believe a full read across was viable for companies like Burberry Group PLC (LSE:BRBY), which is down 2.5%, and Gucci owner Kering because they are currently undergoing a transformation plan.
City analysts have responded positively to FTSE 250-listed outsourcing company Mitie Group PLC (LSE:MTO)’s upped annual profit guidance.
Mitie cited a strong half-year performance, reporting robust revenue growth of approximately 11%, with organic growth at around 9.3%, totalling £2.1 billion for the first six months of the year.
Eli Lilly and Co (NYSE:LLY) shares were trading 2.6% higher pre-market after a positive read-across from a key trial read-out from its main rival in the weight-loss market.
Denmark’s Novo Nordisk (NYSE:NVO) stopped a trial early after it emerged its Ozempic jab had been a resounding success in treating kidney failure in diabetes.
Shopify Inc (TSX:SH., NYSE:SHOP)’s share price rebounded this week, curbing a slump in September, as the e-commerce and payment processing company prepares to release its results for the third quarter later this month.
Investors who invested in Shopify five years ago have seen their share value triple during that time.
Financial analysts at Barclays struck a balanced tone in response to challenger Metro Bank Holdings PLC (LSE:MTRO)'s recently announced financing package.
Announced on Sunday, the “transformational, if initially painful, financing package” comprises a £325 million capital raise, divided between £150 million in new equity from Metro's largest shareholders and £175 million in fresh debt from bondholders.
American investment bank Stifel has described as ‘impressive’ the latest trading update from discoverIE Group PLC, a designer, and manufacturer of customised electronics.
In the statement, discoverIE said its progress in the first half meant it was on track to meet full-year expectations.
Boutique investment bank Peel Hunt has lauded the preliminary clinical findings from Faron Pharmaceuticals Limited (AIM:FARN, OTC:FPHAF), terming them as 'highly encouraging.'
The data comes from an interim analysis of the BEXMAB study, a Phase I/II trial assessing the effectiveness of bexmarilimab in treating acute myeloid leukaemia (AML) and myelodysplastic syndromes (MDS), both challenging blood disorders often unresponsive to conventional therapies.
FirstGroup PLC (LSE:FGP) shares jumped early on after the rail and bus operator tipped full-year results would come in ahead of expectations on stronger-than-anticipated summer demand.
Adjusted operating profit should come in between £14 million and £20 million ahead of previously laid out guidance for financial year 2024, First said on Wednesday.
QinetiQ Group PLC (LSE:QQ.) cited robust trading in the second quarter as the defence contractors said it was on course to meet full-year expectations.
It reported significant organic revenue growth and an improvement in its operating profit margin in the opening six months of the financial year versus the comparable period 12 months ago.