Latest news with #TruistSecurities
Yahoo
a day ago
- Business
- Yahoo
Truist Initiates PTC Therapeutics (PTCT) Coverage with Buy Rating on Drug Launches
PTC Therapeutics, Inc. (NASDAQ:PTCT) is one of the 10 biotech stocks screaming a buy. On June 17, analysts at Truist Securities initiated coverage of the stock with a 'Buy' rating and an $80 price target. The research firm remains bullish about the company's prospects ahead of the launch of two key drugs. A biopharmaceutical team in a laboratory analyzing new compounds to develop therapeutics. The research firm expects the two new drugs to act as catalysts for the biopharmaceutical company. The two drugs are sapropterin for phenylketonuria (PKU) and vatiquinone for Friedreich's ataxia (FA). The two drugs are slated for release in July and August, respectively. Truist Securities expects the two drugs to generate more than $2 billion in peak sales, which makes it believe the stock is undervalued at current levels. In addition to the two drugs, the research firm has echoed PTC Therapeutics' promising pipeline, especially PTC518, for Huntington's disease. Consequently, Truist Securities expects the launch of two new drugs and the development of the pipeline to help offset concerns related to Translarna's (ataluren) performance in Duchenne muscular dystrophy (DMD). PTC Therapeutics, Inc. (NASDAQ:PTCT) is a global biopharmaceutical company focused on developing and commercializing therapies for rare diseases. It discovers and develops treatments that benefit patients with unmet medical needs, particularly in para-genetic disorders. While we acknowledge the potential of PTCT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Best Software Stocks to Buy Now and 11 Must-Buy AI Stocks Analysts Are Betting On. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Update: Truist Ups PT on Darden Restaurants to $252 From $230, Expects SSS, EPS Beat in Fiscal Q4; Maintains Buy Rating
(Updates with the analyst's commentary.) Truist Securities raised Darden Restaurants (DRI) price Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Skift
6 days ago
- Business
- Skift
6 Playa Hotels Are Rebranded to Hyatt
The DJIA rose 317 points, the Nasdaq was up 294, the S&P 500 rose 56 points and the 10 year treasury yield was up .03 to 4.45%. Lodging stocks were mostly higher today, led by SOND with a 7% rise, while PEB and SHCO were both up 6% on the day. Truist Securities reported on the conference call they held last week with CoStar to discuss their updated U.S. lodging forecast and recent industry trends. CoStar's presentation at the NYU conference showcased a bumpy macro backdrop, decelerating YTD lodging results, and a lowered 2025/2026 lodging forecast. They labeled international demand as sliding/likely getting worse while mentioning a slower development pipeline and slow asset transaction activity. As you can see, they did not have a lot of good things to talk about. Summer travel is a bit tricky to decipher as the bookings are down, but travelers are still booking, but closer to the arrival dates. CoStar is not super worried about weak on the books and views the negative headlines as a false negative, but there is not much visibility into peak months with the short booking window. The luxury segment continues to outperform with strong demand and very healthy pricing power. Baird reported on six of Playa's hotels being rebranded to a Hyatt flag. When Hyatt moved on to the acquisition of PLYA, seven of their hotels did not carry a Hyatt flag. The change resulted in Hilton losing four properties and Wyndham losing one. Hilton now only has a dozen remaining all-inclusive resorts globally. The Wyndham Altra Playa del Carmen continues to accept reservations. Baird believes this hotel could be sold separately. The World Travel & Tourism Council (WTTC) has projected a landmark achievement for Mexico's tourism sector in 2025. According to their latest forecasts, the industry is expected to contribute $281 billion to the national GDP, making up 15.1% of the country's total GDP. The WTTC's Economic Impact Report, developed in collaboration with Oxford Economics, suggests that by the end of 2025, the tourism sector will support nearly 8 million jobs in Mexico, accounting for 13.3% of all employment in the country. The report also forecasts that international visitor spending will reach $39.6 billion, a 7.5% increase compared to 2019, and domestic tourism spending will surge to $209.9 billion, up 9.9% from previous highs. Looking towards 2035, the WTTC anticipates that Mexico's Travel and Tourism sector will contribute $362.3 billion to the economy, representing 16.2% of the national GDP. In North America, by 2025, travel and tourism are expected to contribute $3 trillion to the GDP, accounting for 8.8% of the regional economy. International visitor spending is anticipated to exceed $233 billion this year, with domestic spending projected to grow by 1.4% annually to $1.8 trillion. A Philadelphia developer is planning major changes at the Sheraton Atlantic City Convention Center Hotel. According to the Philadelphia Business Journal, Scannapieco Development Corporation plans to make half of the Sheraton's hotel rooms apartments. The remaining 250 rooms on the 3rd to 9th floors will be renovated. The apartments will primarily be made by combining two hotel rooms into one apartment. The 131 new apartments will cater to the over-55 crowd. There will be one gym for the hotel section of the building and another for the apartments. The hotel and the apartments will share the lobby. The hotel renovations should be finished in less than a year, and the apartment transitions are expected to take 18–20 months, with work beginning later this year. VP Management celebrated the grand opening of the Fairfield Inn and Suites by Marriott located in Beckley, West Virginia. The 95-room hotel features an outdoor patio, indoor pool, fitness center, and meeting rooms. TownePlace Suites Pensacola has recently completed a multi-million dollar renovation transforming the all-suite hotel's communal spaces and 97 guestrooms and elevating the guest experience. The renovation touched the lobby and breakfast area, the fitness center, and the pool and patio. TownePlace Suites Pensacola is owned by Apple Hospitality REIT, Inc. and managed by McKibbon Hospitality. The Indianapolis Airport Authority broke ground on the new Westin Indianapolis Airport hotel to be built on the airport's terminal campus. The Indianapolis Airport Authority expects work on the hotel to be finished in December 2027. The hotel will include 253 guestrooms, a full-service restaurant, a fitness center, a seventh-floor bar and lounge area, approximately 10,000 square feet of meeting space, and a pedestrian passage through the hotel to the airport garage. A new Hilton-branded hotel held a grand opening on June 11 in Spring Lake, North Carolina. The Spark Hotel by Hilton offers 88 guestrooms, a communal lobby, a breakfast bar, a fitness center, and an outdoor pool. Millennium Hotels and Resorts announced the rebranding of Millennium Downtown New York as M Social Hotel New York Downtown, scheduled to debut in the summer of 2025. Located within Manhattan's vibrant Financial District, the hotel boasts 569 newly renovated rooms, including 98 suites; 3,500 square feet of versatile event space across six meeting rooms; and a fully transformed lobby. The property plans to open the Beast & Butterflies restaurant by late 2025. The Hyatt Regency Austin has begun a full hotel renovation, which is expected to be completed in September. According to a news release, the Hyatt Regency Austinrenovation includes a comprehensive redesign of the hotel's 448 guestrooms and suites, corridors, meeting facilities, and public spaces. The hotel will also introduce a new hotel dining option, Ripple & Roots. The hotel will remain open during the renovations, with new spaces opening in phases. Royal Beach Hotel Punta Cana will officially open for guests on July 1, 2025. The 66-room resort features a restaurant, lobby bar, a pool with a bar, fitness center, spa, and 2 meeting spaces. The resort will fall under the JdV by Hyatt brand. Barbados is witnessing a luxury hospitality renaissance as the collection of resorts previously gathered under the Elegant Hotels banner undergoes a $150 million renovation and relaunch. Seven luxe beachfront properties in all are part of the initiative, which will see them re-imagined and integrated into Marriott International's high-end brand portfolios: Autograph Collection, Tribute Portfolio, and The Luxury Collection. The Waves Resort & Spa in Saint James has reopened as Barbados' first all-inclusive wellness-focused boutique luxury resort, under the Autograph Collection banner. The partly adults-only sanctuary has been completely re-imagined and features a spa and two distinct dining concepts. Treasure Beach has now reopened as the Treasure Beach Art Hotel, also under the Autograph Collection. The 35-key, all-inclusive boutique luxury property is located on Barbados' legendary Platinum Coast. Completing the initial phase of the renovations is The House, which also recently reopened as part of the Autograph Collection portfolio. The upgrade project extends beyond these initial properties, with additional transformations scheduled through 2025 for Tamarind, which will also reopen as an Autograph Collection property; as well as Crystal Cove and Turtle Beach, both scheduled to reopen as all-inclusive resorts under the Tribute Portfolio. The Colony Club, on the west coast of Barbados, will reopen as a Luxury Collection resort. Personnel News Westgate Resorts announced the appointment of Angel Miranda as its new Chief Information Officer. Miranda has been serving as the company's Interim CIO since the beginning of the year.
Yahoo
09-06-2025
- Business
- Yahoo
Airbnb downgraded as travel slowdown hits sector
The US hotel industry is experiencing a decline in performance, driven by reduced international visitor numbers and heightened volatility in consumer and business confidence, according to analysts at Truist Securities. The slowdown is expected to persist through the remainder of 2025, impacting major hotel operators and short-term rental platforms. In a note released Friday, Truist analyst C. Patrick Scholes downgraded Airbnb's stock rating from 'hold' to 'sell', citing underwhelming summer travel trends in both the US and Europe. He revised the price target for Airbnb shares from $112 to $106, suggesting a potential 17% drop from Thursday's close. Airbnb shares declined 0.7% following the announcement and have lost 3% of their value so far this year. Analysts based their assessment on millions of US hotel booking records and conversations with industry leaders. They concluded that a combination of weaker middle-class leisure travel, government contract cutbacks, and less inbound international tourism is fuelling the decline. The trend appears more concentrated in midrange hotels, which typically serve government clients and cost-conscious travellers. Scholes and his team highlighted 'middle-class leisure underperformance' as a key factor behind lower occupancy rates in these properties. Premium chains are also affected, though to a lesser degree. Truist also lowered its price targets on several hotel companies. Hyatt Hotels was reduced from $156 to $140, Choice Hotels from $144 to $128, DiamondRock Hospitality from $10 to $9, and Marriott International from $300 to $273. These adjustments reflect growing concerns about sustained weakness in demand and its impact on earnings across the lodging sector. Shares of all mentioned hotel companies posted small gains on Friday, but broader market trends indicate that investor sentiment remains cautious. The Consumer Discretionary Select Sector SPDR Fund, which includes Airbnb, has fallen 4.4% in 2025. The uncertain economic environment is amplifying pressure on the travel and hospitality industry. Analysts pointed to inconsistent business travel recovery and fluctuating consumer spending as additional challenges. Despite post-pandemic reopenings, the anticipated rebound in hotel demand has failed to materialise at expected levels. With inbound international travel still below pre-pandemic figures, the outlook for the US lodging sector remains clouded. Truist forecasts that without a significant shift in economic confidence or international visitor numbers, softness in the market may persist well into next year. "Airbnb downgraded as travel slowdown hits sector" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
Broadcom Gets Mixed Reactions As Modest Earnings Beat Sparks Profit-Taking
Wall Street analysts rerated Broadcom Inc (NASDAQ: AVGO) after it reported second-quarter financial results on Thursday. The company reported second-quarter revenue of $15 billion, up 20%, beating analyst estimates of $14.99 billion, driven by continued momentum in AI semiconductor solutions and VMware. The semiconductor company reported second-quarter adjusted earnings of $1.58 per share, beating analyst estimates of $1.56. The second-quarter AI revenue grew 46% to over $4.4 billion, driven by robust demand for AI networking. Broadcom Tomahawk 6 Flexes AI Muscle, Hyperscalers Are Buying In Broadcom expects third-quarter revenue of approximately $15.8 billion, versus estimates of $15.79 billion. JP Morgan analyst Harlan Sur maintained Broadcom with an Overweight and raised the price target from $250 to $325. Truist Securities analyst William Stein reiterated Broadcom with a Buy and raised the price target from $267 to $295. Rosenblatt analyst Kevin Cassidy maintained Broadcom with a Buy and raised the price target from $223 to $340. Cantor Fitzgerald analyst Matthew Prisco reiterated Broadcom with an Overweight and a $300 price target. Benchmark analyst Cody Acree maintained Broadcom with a Buy and raised the price target from $255 to $315. JP Morgan analyst Sur is encouraged by the Broadcom team's strong line of sight to fiscal 2026 AI revenue profile driven by strong cloud/hyperscaler capex spending trends with continued focus on AI training combined with accelerating AI inference workloads, continued ramp of Alphabet Inc (NASDAQ:GOOGL) Google's next-gen TPU v6/v7 3nm AI accelerator ASICs, ramp up of Meta Platforms (NASDAQ:META) 3nm, and continued strong adoption of ethernet networking. The continued substantial AI revenues underscore Broadcom's strong design win pipeline and confirm Sur's belief that internally developed custom ASIC silicon programs offer opportunities for differentiation, efficiency gains, and improved silicon economics. The analyst said that the fundamentals of cyclical semiconductor businesses are stabilizing across most areas. He stressed that Broadcom continues successfully converting and upselling to its VCF full-stack solution in the infrastructure software business. Even during macro volatility, the team drives a solid revenue growth profile. Sur estimated that Free Cash Flow generation will be $26 billion this year, up 34% year over year, implying a substantial dividend raise at the end of this fiscal year. Broadcom remains his top pick in semiconductors. Broadcom delivered only a modest upside to calendar first-quarter results and the calendar second-quarter guide. Still, Truist Securities analyst Stein noted investors were expecting a more significant beat, considering results from Nvidia Corp (NASDAQ:NVDA) and capex outlooks from hyperscale companies. Stein stated Broadcom's long-term position in AI is stable or potentially improving, with significant customer additions (3 current and 4 potential additions) suggesting meaningful potential upside. He also anticipated long-term upside at VMWare. Broadcom's non-AI semi-sales in the calendar first quarter aligned with Stein's estimate. Still, management guided to flat quarter-on-quarter growth, implying $4 billion in the calendar second quarter and a ~5% miss compared to his model (not surprising to him, considering that he noted excess channel inventory). AI computes (custom accelerators) made up ~60% of total AI sales in the calendar first quarter, implying ~$2.6 billion (14% below his estimate of $3.1 billion). However, Stein remarked that AI networking delivered $1.8 billion in sales, up 170% Y/Y and 33% above his estimate of $1.3 billion. He said that Broadcom expects to shift back to 70/30 compute/networking going forward, implying a double-digit quarter-over-quarter decline in AI networking revenue and an acceleration in custom silicon. Rosenblatt analyst Cassidy writes in the analyst note that Broadcom reported a mostly inline quarter with AI revenue up 46% Q/Q and guided to 60% Y/Y growth. The analyst said that based on good visibility from its three XPU customers, management believes this growth rate can continue into 2026. He was interested in adopting Broadcom's Ethernet products to scale up connectivity and scaling out. Scale-up unit volumes are 5x to 10x higher than scale-out, Cassidy said. The analyst noted that the applications are for both LLM training and inference. He said that with three hyper-scale customers ramping up production, management discussed the other four XPU prospects. Cassidy continued recommending the stock for its strong custom ASIC capabilities. While the second-quarter results and third-quarter guide may be viewed as only a 'skinny beat,' underneath the covers was a very bullish outlook from Broadcom management, Cantor analyst Prisco stated. Broadcom remains Prisco's top pick. AI Semi revenues were guided at +16% Q/Q and 60% Y/Y for the third quarter, with management then suggesting improved visibility today that gives them confidence that the AI semiconductor business can grow at this ~60% rate for all of fiscal 2025 and 2026, the analyst said. He said that AI semiconductor revenues are projected to reach $20 billion+ in fiscal 2025 and $30 billion+ in fiscal 2026, delivering meaningful upside to consensus into calendar 2026. Prisco remarked that non-AI Semiconductor revenues continue to bounce along the bottom while the cash cow Infrastructure Software grows modestly. On a relatively modest beat and raise, Broadcom's shares are off about 4% after hours as investors grapple with results that were closer to the small upside that pummelled Marvell's shares last week versus the stronger outperformance delivered by Nvidia when adjusting for their Chinese exposure, analyst Acree stated. The analyst writes that he understands investors taking profits, particularly considering the company's $120-plus run since its recent early April lows of about $139. He continues to believe Broadcom represents an attractive opportunity as the number two provider of advanced accelerated compute and networking solutions to the AI industry, with direct leverage to the steadily increasing capex budgets of a growing number of the market's largest hyperscale investors. Price Action: AVGO stock is trading lower by 5.25% to $243.28 at the last check Friday. Read Next:Photo by Ken Wolter via Shutterstock Date Firm Action From To Mar 2022 Truist Securities Maintains Buy Mar 2022 JP Morgan Maintains Overweight Mar 2022 Morgan Stanley Maintains Overweight View More Analyst Ratings for AVGO View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? BROADCOM (AVGO): Free Stock Analysis Report This article Broadcom Gets Mixed Reactions As Modest Earnings Beat Sparks Profit-Taking originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
