Here are Wednesday’s biggest calls on Wall Street: Barclays initiates Penn as overweight Barclays initiated several casino and gaming companies, saying they are attractively valued. “We’re positive on diversified land-based gaming (CZR, PENN, BYD), and select companies across Lodging and Leisure, based on demand exposures and/or valuation.” Read more about this call here. Raymond James upgrades Ulta to strong buy from outperform Raymond James said in its upgrade of the stock that “beauty/going out remains in demand.” “We are upgrading Ulta Beauty to Strong Buy from Outperform and raise our PT to $485 from $475 as the retailer’s wide range of price points from prestige to mass should mitigate the impact of potential trade-down, while beauty/going out remains in demand.” JPMorgan downgrades Bath & Body Works to neutral from overweight JPMorgan downgraded Bath & Body Works due to what the firm called a “multi-year model reset.” “We are lowering our FY23 EPS to $3.30 (below Consensus at $4.90) based on the following: low-singledigit same-store-sales growth equating to a high-single-digit 2019-23 comp CAGR.” Loop downgrades JOANN to hold from buy Loop said it sees an “elevated risk profile” in the fabric retailer. “We were disheartened to hear of CFO Matt Susz’s unexpected death two weeks ago, and we think this adds risk to Joann’s near-term execution and investor-facing communications.” Barclays initiates Marriott as overweight Barclays said in its initiation of the hotel chain that it sees “beats and raises” in the quarters ahead. ” MAR leading position in luxury global travel stands out to us in terms of its ability to produce beats and raises over the next several quarters.” Barclays initiates Royal Caribbean as overweight Barclays initiated coverage of the cruise company and said it’s the “highest quality operator in the space.” “We see RCL as the highest quality operator in the space, and well positioned to re-establish its pre-pandemic operational momentum…
2022-06-29 08:35:00
All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator
Read more from original source here…
2 min read
2 min read
