By Davit Kirakosyan
Investing.com -- Here is your daily Pro Recap of the biggest analyst picks you may have missed since Friday’s close: fresh buy ratings at Medtronic, Live Nation, PPG, and more.
As always, InvestingPro subscribers got this news first. Start your free 7-day trial to get on board.
Medtronic upgraded following FDA approval of MiniMed 780G
Wells Fargo upgraded Medtronic (NYSE:MDT) to Overweight from Equal Weight and raised its price target to $100.00 from $77.00.
Shares gained more than 2% on Friday after FDA approved the MiniMed 780G System for modifications to the SmartGuard (SG) Technology and for expanding the indications for use to include the Guardian 4 Sensor. The system can automatically adjust and correct insulin levels every 5 minutes for both basal (background) and bolus (mealtime) insulin requirements.
Live Nation initiated at Buy on numerous opportunities to grow cash flow
Seaport Global Securities initiated coverage on Live Nation Entertainment (NYSE:LYV) with a Buy rating and a price target of $85.00.
According to the firm, shares of Live Nation, the world’s largest concert promoter and ticket-seller, with approximately 30% market share in each, are temporarily depressed due to Ticketmaster regulatory headline risk, which Seaport Global believes will subside.
The potential for growth in concert volume, attendance, market share, pricing, ticketing service add-ons, hospitality offerings, and sponsorship presents opportunities to increase cash flow. Seaport Global believes this growth has the potential to result in $2.45 billion of adjusted operating income by 2027.
The company is set to report its Q1/23 earnings results on May 4, after the market close.
PPG Industries upgraded to Overweight following Q1 beat
JPMorgan upgraded PPG Industries (NYSE:PPG) to Overweight from Neutral and raised its price target to $156.00 from $130.00.
The company reported its Q1/23 earnings results on Thursday, with EPS of $1.82 coming in better than the consensus estimate of $1.42. Revenue was $4.4B, compared to the consensus of $4.38B.
For the full year, the company expects EPS in the range of $6.95-$7.25, above the consensus estimate of $6.86.
2 more analyst picks
Atlantic Equities initiated coverage on Intuit (NASDAQ:INTU) with an Overweight rating and a price target of $530.00.
The company will report its Q3/23 results on May 23. Consensus estimates stand at $8.46 for EPS and $6.09B for revenues.
Loop Capital upgraded Alteryx (NYSE:AYX) to Buy from Hold with a price target of $65.00, noting its recent checks indicate that the company's solid sales momentum over the past several quarters can be sustained not only well into this year but over the next several years.
For the Q1 earnings report, scheduled this Thursday, Loop Capital expects at least an in-line quarter and in-line guidance.
