Price Target Cuts
Morgan Stanley Lowers Price Targets Across Multiple Stocks Despite Recent Earnings Beats
Anonymous
Morgan Stanley cut its price targets on several stocks, lowering Camtek’s target from $165 to $152 and Applied Materials’ from $642 to $563 while keeping equal-weight ratings on both; analysts’ broader consensus ratings remained Moderate Buy. It also reduced Charter Communications’ target from $150 to $140, maintaining an equal-weight rating, as other analysts’ views ranged from buy to underperform. For Comcast, Morgan Stanley lowered its target from $29 to $27 with an equal-weight rating, while Citigroup cut its target from $30 to $27.50 but retained a buy rating. Comcast’s broader analyst consensus remained Hold, reflecting mixed views on the cable company.
Key Points
1
Camtek reported quarterly EPS of $0.78, beating the $0.76 consensus, and revenue of $133.24 million, above the $130.44 million estimate; revenue was up 8% year over year.
2
Applied Materials’ analyst consensus price target was $655.72, considerably above Morgan Stanley’s new $563 target; Needham had a $740 target and KeyCorp a $750 target.
3
Charter Communications beat quarterly EPS expectations, reporting $10.66 against a $9.98 consensus estimate. MarketBeat data in the report put its average price target at $215.17 and its overall rating at “Reduce.”
4
Comcast beat quarterly estimates with EPS of $1.04 versus $0.97 expected and revenue of $29.94 billion versus $29.24 billion expected, although revenue declined 1.2% year over year.
Sentiment
Mostly NegativeNEGATIVENEUTRALPOSITIVE
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