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Walmart raised to be overweight, Datadog jumped on increase By

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Here’s a Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Walmart, Datadog, and Neurocrine Biosciences, and initiation at Savers Value Village.

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Walmart upgraded on Piper Sandler

Walmart (NYSE:) shares are up more than 1% pre-market today after Piper Sandler upgraded the company to Overweight from Neutral and raised its price target to $210.00 from $145.00, as reported real-time on InvestingPro.

The company will report Q2/24 earnings on August 17. Road estimates are $1.67 for EPS and $159.33 billion for revenue.

Datadog leverages Wolfe Research improvements

Datadog (NASDAQ:) shares are up more than 3% pre-market today after Wolfe Research upgraded the company to Outperform from Peerperform with a target price of $140.00 ahead of the company’s upcoming Q2/23 earnings report, scheduled for Aug. 8.

Initially, when Datadog started as Peer Perform, Wolfe’s analysis indicated a potential slowdown in growth due to various factors such as macros, optimization challenges, competition, and go-to-market (GTM) execution. As expected, growth slowed significantly (from 63% in 2022 to around 25% consensus for 2023). However, despite this slowdown, the company’s valuation has actually increased. Moreover, recent checks show that optimization challenges are easing, competition is easing, GTM execution has improved, and there is a promising Generative AI tailwind that could position Datadog as one of the fastest growing software companies.

Savers Value Village received bullish coverage initiatives from several Wall Street firms

Savers Value Village (NYSE:) received coverage initiatives from a number of Wall Street firms, including Goldman Sachs, UBS, Jefferies, Baird, and Piper Sandler, following last month’s IPO.

Goldman begins the coverage with a Buy rating and a target price of $28.00. According to the bank, Savers Value Village is expected to see significant profitable growth due to consistent company growth across geographies, accelerated unit growth in the filler market, and improved quality of supply resulting in better margins and increased free cash flow.

Neurocrine Biosciences gets an upgrade at Leerink Partners

Leerink Partners upgraded Neurocrine Biosciences (NASDAQ:) to Outperform from Market Perform and raised its target price to $125.00 from $115.00, noting that the risk/reward at current levels is very attractive.

Leerink raised Ingrezza’s sales estimate once again based on the strong Rx trend. Ingrezza’s forecasts were raised from ~$1.75 billion to ~$1.8 billion, from $2.0 billion to $2.1 billion, and from $2.2 billion to $2.3 billion for 2023, 2024 and 2025 respectively.

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