US Top Rating Updates on 11/22: PG, SE, ATVI, LYFT and More
Procter & Gamble Initiated With an Outperform at Wolfe Research
Wolfe Research analyst Greg Badishkanian initiated coverage of
$Procter & Gamble (PG.US)$ with an Outperform rating and $156 price target. Badishkanian expects demand elasticities to beat expectations as brand investments and innovation drive wallet share to P&G, the analyst tells investors in a research note. He views their geographic exposure and balance sheet as defensive, which should support fund flows.
Sea Limited Downgraded on Lack of Visibility at Cowen
Cowen analyst John Blackledge downgraded
$Sea (SE.US)$ to Market Perform from Outperform with a price target of $60, down from $72. The analyst cites the lack of visibility in both commerce and gaming for the downgrade. The rise in consumer mobility and challenging demand environment create and "unclear" path to profitability for Sea, Blackledge tells investors in a research note.
Lyft Downgraded to Market Perform at Cowen on Macro and Insurance Headwinds
Cowen analyst John Blackledge downgraded
$Lyft Inc (LYFT.US)$ to Market Perform from Outperform with a price target of $14, down from $36. Near-term challenges include higher insurance costs, which could persist due to inflationary pressures, the potential for revenue per rider to be affected by a weaker consumer environment and a regulatory overhang, said Blackledge, who has cut his 2023-2027 estimates for Lyft.
Source: Seeking Alpha, The Fly
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