The Latest Breaking News from Raymond James

Raymond James analyst Savanthi Syth upgraded Southwest Airlines Co (NYSE:LUV) to Strong Buy from Outperform and lowered the price target to $55 (an upside of 56%) from $57. The analyst states that the revised U.S. airline estimates reflect a stronger near-term revenue trend, stubbornly higher fuel prices, anticipated demand softening, and planned and expected capacity…

Raymond James analyst Savanthi Syth upgraded Frontier Group Holdings Inc (NASDAQ:ULCC) to Outperform from Market Perform while maintaining the same price target of $14 (an upside of 45%). The analyst states that the revised U.S. airline estimates reflect a stronger near-term revenue trend, stubbornly higher fuel prices, anticipated demand softening, and planned and expected capacity…

The oil stocks have outperformed the broader market in 2022, driven by surging oil prices amid substantial fuel demand and supply chain disruptions exacerbated by geopolitical instability. As the crude oil prices are expected to soar further, Raymond James oil and energy analyst John Freeman recommends investing in Marathon Oil…

Raymond James hosted an online advertising conference call with an industry expert. The expert has visibility into ~$2 billion of spend with a mix similar to the ad industry and diversified across Fortune 1,000 advertisers. 

Upgrades

Analysts acknowledged Braze, Inc's (NASDAQ:BRZE) Q1 beat amid macro headwinds. Piper Sandler analyst Brent Bracelin maintained Braze with an Overweight and cut the price target from $65 to $42 based on lower growth assumptions given increasing external risks. Despite increasing macro headwinds, BRZE delivered another strong quarter. Increasing investments in direct-to-consumer (DTC) and first-party data stacks have…

Mizuho Securities analyst Vincent Lovaglio raised the price target for Devon Energy Corp (NYSE:DVN) to $94 (an upside of 28%) from $92, reflecting the $865 million Rim Rock acquisition. The analyst states that the transaction adds 15kboed and 38k net acres to the company's existing 48kboed and 85k net acre Bakken position at ~4x free cash…

Target Corporation (NYSE: TGT) announced several initiatives on Tuesday to right-size its inventory, including order cancellations and slashing prices.

Coupa Software Inc (NASDAQ: COUP) shares traded higher by 1.8% on Tuesday after the company reported strong earnings numbers and record subscription revenues in the first quarter.