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Tech Titans and Pharma Gains: Palo Alto, PayPal, Eli Lilly Shine

AInvestTuesday, Aug 20, 2024 6:30 pm ET
1min read
1. Palo Alto Networks (Nasdaq: PANW)
Palo Alto Networks surged by 7.18%. Palo Alto Networks reported an 18.19% year-over-year revenue increase to $5.838 billion and strong Q4 FY2024. Scotiabank, Oppenheimer, and JP Morgan maintain ratings of sector outperform and overweight with updated price targets of $400, $410, and $387, respectively.

2. Paypal Holdings (Nasdaq: PYPL)
Paypal Holdings gained solidly by 3.54%. PayPal Holdings reported $15.584 billion in revenue and $2.016 billion net profit for H1 2024. JP Morgan, Barclays, and Baird maintained "Overweight" ratings with price targets of $80 and $85. Daiwa Capital upgraded to "Outperform," and Argus Research upgraded to "Buy."

3. Eli Lilly Andmpany (NYSE: LLY)
Eli Lilly Andmpany gained solidly by 3.08%. Eli Lilly experienced a notable trading day on August 20 with five insider transactions disclosed. Their GLP-1 drug significantly reduces type 2 diabetes risk in prediabetic, overweight adults. Additionally, Eli Lilly expanded its Emgality commercialization agreement with Organon to 11 new markets.
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.