Analysts are intrested in these 5 stocks: ( (TRP) ), ( (PENN) ), ( (DKNG) ) and ( (TTD) ). Here is a breakdown of their recent ratings and the rationale behind them.
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TC Energy is catching the attention of analysts with a recent upgrade by Benjamin Pham, who has moved the stock to a ‘Buy’ rating with a target price of CAD 83. Pham highlights the company’s strong project execution and a self-funded balance sheet as key factors driving its growth. The company’s solid performance in Q3, particularly in natural gas volumes, and its strategic position in the nuclear power sector, make it a standout among its peers. The analyst believes that TC Energy’s shares deserve a premium valuation, given its visible growth trajectory and low-risk business model.
PENN Entertainment has seen mixed reactions from analysts. Steven Wieczynski from Stifel has upgraded the stock to ‘Buy’, citing the company’s pivot to an iCasino-led digital strategy and the removal of the ESPN Bet overhang as positive developments. Wieczynski sees potential for the stock to climb into the $20s, driven by a de-risked free cash flow inflection. However, Bernie Mcternan has downgraded the stock to ‘Hold’, expressing concerns about the company’s cost structure and revenue retention amid increasing competition. Despite the differing views, both analysts acknowledge the company’s strategic shifts and potential for future growth.
DraftKings is making waves with a new ‘Buy’ rating from Bernie Mcternan, who has set a target price of USD 52. The company is launching prediction markets with sports, which is seen as a significant growth opportunity. Despite lowering its EBITDA guidance, DraftKings is poised for growth with an exclusive ESPN partnership and accelerating OSB handle growth. The company’s strategic moves and focus on innovation are expected to drive its future success, making it an attractive option for investors.
Trade Desk has been upgraded to ‘Buy’ by Mark Zgutowicz, who has set a target price of USD 65. The company is overcoming macro uncertainties and restructuring challenges, with a strong performance in Q3 driven by newer growth engines like decisioned CTV and retail media. Trade Desk’s focus on AI efficiency gains and strategic partnerships is expected to drive significant growth. The stock is considered oversold, presenting a potential opportunity for investors looking for value in the ad technology sector.
Overall, these companies are trending among analysts for their strategic shifts and growth potential. While each faces its own set of challenges, the opportunities for growth and innovation make them intriguing options for investors looking to capitalize on emerging trends in their respective industries.