In a strategic move, Oppenheimer has initiated coverage on Reddit (RDDT) with an Outperform rating, setting a price target of $125. This decision comes after a notable 49% decline in the stock since February 19. Despite challenges such as medium-term risks, reliance on Google (GOOGL), and weak international engagement, the firm sees potential for Reddit to bolster advertiser demand through its innovative products leveraging targeted data and subreddits.
Meanwhile, Lyft (LYFT) has also garnered attention from Oppenheimer, receiving an Outperform rating and a $15 price target. The firm anticipates continued growth in ridesharing, driven by increased costs of car ownership and advancements in robotaxi technology, which promise to lower fares.
Deutsche Bank has upgraded Peloton (PTON) to a Buy, with a revised price target of $6.60. Noting the stock's over 30% dip since its recent fiscal report, the firm highlights Peloton's strong subscription-based revenue and competitive churn rates, predicting a potential rebound in the next year.
In other updates, Atlassian (TEAM) got an upgrade from Baird to Outperform with a lower price target of $255. Baird acknowledges Atlassian's strong business model and positive market positioning, especially with its generative AI strategy, suggesting current valuations are enticing for long-term investors.
UBS has also shown confidence in HubSpot (HUBS), upgrading it to Buy with a new target of $675. This comes after a 35% drop in its shares, with UBS citing HubSpot's growth potential and robust fiscal guidance as key factors for the upgrade.
On the downside, concerns have arisen for PayPal (PYPL), which has been downgraded to Sell by Seaport Research. The research firm doubts PayPal's ability to meet its mid-term growth targets amid potential declines in consumer spending, prompting a reassessment of future revenue expectations.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for Comcast Corp (CMCSA, Financial) is $42.85 with a high estimate of $58.00 and a low estimate of $31.00. The average target implies an upside of 25.25% from the current price of $34.22. More detailed estimate data can be found on the Comcast Corp (CMCSA) Forecast page.
Based on the consensus recommendation from 30 brokerage firms, Comcast Corp's (CMCSA, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Comcast Corp (CMCSA, Financial) in one year is $45.94, suggesting a upside of 34.27% from the current price of $34.215. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Comcast Corp (CMCSA) Summary page.
