Top Performers: Southern Company and American Tower Lead Mild Gains with Robust Revenue
Tuesday, Sep 3, 2024 6:30 pm ET
1min read 1. The Southernmpany (NYSE: SO)
The Southernmpany gained mildly by 2.9%. The Southern Company reported $131.09 billion in revenue for H1 2024, up 7.2% year-over-year, with a net profit of $22.59 billion. B of A Securities, Morgan Stanley, and Scotiabank maintained their ratings with respective targets of $87.00, $78.00, and $96.00.
2. American Tower (NYSE: AMT)
American Tower gained mildly by 2.82%. American Tower reported Q2 2024 revenue of $5.734 billion, up 3.53% year-over-year, with a net profit of $1.83 billion. Deutsche Bank, RBC Capital, and BMO Capital maintain their buy ratings, increasing price targets to $235, $236, and $246 respectively. Internal transactions were disclosed on August 6 and 28.
3. At&T (NYSE: T)
At&T gained mildly by 2.75%. AT&T was fined $950,000 by the FCC for failing to provide emergency call services in 2023. AT&T's Q2 2024 revenue was $59.825 billion, a slight decrease year-over-year. MoffettNathanson, Scotiabank, and RBC Capital issued ratings with target prices of $18, $24, and $25, respectively.
4. Verizonmmunications (NYSE: VZ)
Verizonmmunications gained mildly by 2.75%. Verizon Communications reported second-quarter fiscal 2024 results, with revenue of $65.77 billion and a net income of $9.42 billion, down 3.68% year-over-year. Analysts' ratings: TD Cowen buy with a target of $51.00, RBC Capital sector perform target at $42.00, and JP Morgan neutral target at $45.00. CEO noted longer smartphone upgrade cycles.
5. Pepsico (Nasdaq: PEP)
Pepsico gained mildly by 2.7%. PepsiCo leads 2024 North American Food and Beverage Top 100 with $556.41 billion. PepsiCo targets trillion-dollar new channels along with Suntory and Ferrero. International giants including PepsiCo report strong growth in China. PepsiCo's mid-2024 revenue hit $40.751 billion, net income $5.147 billion.
The Southernmpany gained mildly by 2.9%. The Southern Company reported $131.09 billion in revenue for H1 2024, up 7.2% year-over-year, with a net profit of $22.59 billion. B of A Securities, Morgan Stanley, and Scotiabank maintained their ratings with respective targets of $87.00, $78.00, and $96.00.
2. American Tower (NYSE: AMT)
American Tower gained mildly by 2.82%. American Tower reported Q2 2024 revenue of $5.734 billion, up 3.53% year-over-year, with a net profit of $1.83 billion. Deutsche Bank, RBC Capital, and BMO Capital maintain their buy ratings, increasing price targets to $235, $236, and $246 respectively. Internal transactions were disclosed on August 6 and 28.
3. At&T (NYSE: T)
At&T gained mildly by 2.75%. AT&T was fined $950,000 by the FCC for failing to provide emergency call services in 2023. AT&T's Q2 2024 revenue was $59.825 billion, a slight decrease year-over-year. MoffettNathanson, Scotiabank, and RBC Capital issued ratings with target prices of $18, $24, and $25, respectively.
4. Verizonmmunications (NYSE: VZ)
Verizonmmunications gained mildly by 2.75%. Verizon Communications reported second-quarter fiscal 2024 results, with revenue of $65.77 billion and a net income of $9.42 billion, down 3.68% year-over-year. Analysts' ratings: TD Cowen buy with a target of $51.00, RBC Capital sector perform target at $42.00, and JP Morgan neutral target at $45.00. CEO noted longer smartphone upgrade cycles.
5. Pepsico (Nasdaq: PEP)
Pepsico gained mildly by 2.7%. PepsiCo leads 2024 North American Food and Beverage Top 100 with $556.41 billion. PepsiCo targets trillion-dollar new channels along with Suntory and Ferrero. International giants including PepsiCo report strong growth in China. PepsiCo's mid-2024 revenue hit $40.751 billion, net income $5.147 billion.
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