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Tech and Pharma Rally: Top Gainers with Upgraded Forecasts and Ratings

AInvestFriday, Jul 26, 2024 6:30 pm ET
1min read
1. 3mmpany (NYSE: MMM)
3mmpany surged by 22.97%. 3M reported Q2 2024 net sales of $6.255 billion, a 0.5% decline year-over-year, with adjusted sales of $6.019 billion and organic growth of 1.2%. Adjusted EPS forecast for 2024 was raised to $7.00-$7.30. CFO Monish Patolawala resigned post CEO transition.

2. Chartermmunications (Nasdaq: CHTR)
Chartermmunications surged by 16.62%. Charter Communications reported its second-quarter fiscal 2024 results on July 26, 2024. Morgan Stanley maintained an equal-weight rating and raised its price target to $330.00, while Citigroup downgraded to sell with a target of $255.00. Liberty Broadband Corp sold 139,200 shares on July 16, 2024.

3. Bristol-Myers Squibbmpany (NYSE: BMY)
Bristol-Myers Squibbmpany surged by 11.33%. Bristol-Myers Squibb reported second-quarter fiscal 2024 results, showing an 8.9% year-over-year revenue increase to $12.2 billion, surpassing expectations by $680 million. The company also raised its full-year profit guidance due to strong demand for new drugs.

4. Norfolk Southern (NYSE: NSC)
Norfolk Southern surged by 10.88%. Susquehanna maintains a Neutral rating on Norfolk Southern, with a target price of $255.00. Norfolk Southern announces a cash dividend of $1.3500 per share. Stifel maintains a Hold rating with a target price of $239.00. Bernstein maintains an Outperform rating, lowering the target price to $285.00.

5. Microstrategy Incorporated (Nasdaq: MSTR)
Microstrategy Incorporated surged by 9.1%. Maxim Group initiated coverage on Microstrategy with a Buy rating and a $1835 price target. Canaccord Genuity maintained a Buy rating, lowering the target to $1826. TD Cowen also maintained a Buy rating, raising the target to $1880. Bernstein initiated coverage with an Outperform rating and a $2890 price target.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.