Market Movers: Philip Morris, GM, Norfolk Southern, Charter, and Carvana Surge Amid Analysts Ratings
Tuesday, Oct 22, 2024 6:30 pm ET
1min read 1. Philip Morris International (NYSE: PM)
Philip Morris International surged by 10.47%. Philip Morris, along with British American Tobacco and Japan Tobacco, agreed to pay CAD 32.5 billion to settle Canadian tobacco litigation. UBS maintains sell rating with a $103 target. Citigroup, Deutsche Bank, and Goldman Sachs maintain buy ratings with targets of $132, $135, and $140 respectively.
2. General Motorsmpany (NYSE: GM)
General Motorsmpany surged by 9.81%. General Motors reported better-than-expected third-quarter results driven by steady truck and SUV sales, boosting its full-year profit guidance. Revenue increased 10% to $48.8 billion, with an adjusted EPS of $2.96 per share, surpassing analyst estimates.
3. Norfolk Southern (NYSE: NSC)
Norfolk Southern gained solidly by 4.94%. Norfolk Southern is set to release its Q3 fiscal 2024 results on October 22. Stifel, Jefferies, Bernstein, and Citigroup maintain ratings of Hold, Buy, Outperform, and Buy, with respective price targets of $245, $280, $286, and $294.
4. Chartermmunications (Nasdaq: CHTR)
Chartermmunications gained solidly by 4.57%. Charter Communications' October 22 trading volume rose to $502 million. Wolfe Research downgraded its rating to underperform with a $300 target, while RBC Capital initiated coverage with a sector perform rating and a $345 target. Liberty Broadband Corp sold shares on October 15 and September 17.
5. Carvana (NYSE: CVNA)
Carvana gained solidly by 3.07%. Carvana reported $5.39 billion October 22 revenue. Jefferies maintained a hold rating, raising the target to $185.00. Many insider transactions were disclosed. JP Morgan kept an overweight rating with a $230.00 target. B of A Securities maintained a buy rating, increasing the target to $210.00.
Philip Morris International surged by 10.47%. Philip Morris, along with British American Tobacco and Japan Tobacco, agreed to pay CAD 32.5 billion to settle Canadian tobacco litigation. UBS maintains sell rating with a $103 target. Citigroup, Deutsche Bank, and Goldman Sachs maintain buy ratings with targets of $132, $135, and $140 respectively.
2. General Motorsmpany (NYSE: GM)
General Motorsmpany surged by 9.81%. General Motors reported better-than-expected third-quarter results driven by steady truck and SUV sales, boosting its full-year profit guidance. Revenue increased 10% to $48.8 billion, with an adjusted EPS of $2.96 per share, surpassing analyst estimates.
3. Norfolk Southern (NYSE: NSC)
Norfolk Southern gained solidly by 4.94%. Norfolk Southern is set to release its Q3 fiscal 2024 results on October 22. Stifel, Jefferies, Bernstein, and Citigroup maintain ratings of Hold, Buy, Outperform, and Buy, with respective price targets of $245, $280, $286, and $294.
4. Chartermmunications (Nasdaq: CHTR)
Chartermmunications gained solidly by 4.57%. Charter Communications' October 22 trading volume rose to $502 million. Wolfe Research downgraded its rating to underperform with a $300 target, while RBC Capital initiated coverage with a sector perform rating and a $345 target. Liberty Broadband Corp sold shares on October 15 and September 17.
5. Carvana (NYSE: CVNA)
Carvana gained solidly by 3.07%. Carvana reported $5.39 billion October 22 revenue. Jefferies maintained a hold rating, raising the target to $185.00. Many insider transactions were disclosed. JP Morgan kept an overweight rating with a $230.00 target. B of A Securities maintained a buy rating, increasing the target to $210.00.
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