5 Stocks Receiving Price Target Hikes After Earnings Beat

In this article, we discuss the 5 stocks receiving price target hikes after earnings beat. If you want to see more such stocks on the list, go directly to 10 Stocks Receiving Price Target Hikes After Earnings Beat.

5. Texas Instruments Incorporated (NASDAQ:TXN)

Number of Hedge Fund Holders: 59

Several market research firms raised their price targets for Texas Instruments Incorporated (NASDAQ:TXN) on Wednesday, January 25, after the Q4 earnings beat. BMO Capital lifted its price target from $195 to $215, UBS raised its price target from $165 to $190, and Benchmark increased its price target from $189 to $203.

If we look at the results, Texas Instruments Incorporated (NASDAQ:TXN) reported earnings of $2.13 per share for the fourth quarter, beating estimates of $1.98 per share. The quarterly sales of $4.67 billion also topped the consensus of $4.62 billion.

4. AT&T Inc. (NYSE:T)

Number of Hedge Fund Holders: 61

Cowen raised its price target for AT&T Inc. (NYSE:T) from $24 per share to $25 per share on Thursday, January 26, citing the company’s good quarterly performance. The telecommunications giant posted adjusted earnings of 61 cents per share for Q4, up from 56 cents per share in the year-ago period.

Revenue came in at $31.3 billion, representing a surge of less than one percent on a year-over-year basis. Analysts expected AT&T Inc. (NYSE:T) to earn 57 cents per share on revenue of $31.4 billion.

Speaking on the results, CEO of AT&T Inc. (NYSE:T), John Stankey, said in a statement:

“We met or surpassed all of our profitability targets for the year, all while investing at record levels to bring the benefits of our 5G and fiber technologies to even more people. As we enter 2023, I’m confident in the trajectory of our business and in our team’s ability to deliver profitable and durable growth for our shareholders.”

3. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 88

Tesla, Inc. (NASDAQ:TSLA) is next on the list of 5 stocks receiving price target hikes after earnings beat. The electric vehicle giant earned $1.19 per share on revenue of $24.32 billion in Q4. This compares to the consensus of $1.13 per share for earnings and $24.16 billion for revenue.

Looking forward, Tesla, Inc. (NASDAQ:TSLA) expects to produce 1.8 million vehicles in 2023. However, CEO Elon Musk said the company could potentially produce 2 million vehicles if everything goes smoothly and there is no major disruption (in terms of the supply chain, war, pandemic etc.)

A number of research firms raised their price targets for Tesla, Inc. (NASDAQ:TSLA) on Thursday, January 26, after recent earnings. Wedbush increased its price target from $175 to $200, Wells Fargo lifted its price target from $130 to $150 and BofA raised its price target from $130 to $155.

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 146

Mastercard Incorporated (NYSE:MA) received a price target hike from Deutsche Bank after delivering better-than-expected results for Q4. The research firm increased its price target for the payment-processing giant from $375 per share to $430 per share on Friday, January 27.

For the fourth quarter, Mastercard Incorporated (NYSE:MA) reported adjusted earnings of $2.65 per share, beating the consensus of $2.57 per share. The quarterly revenue of $5.82 billion also exceeded the consensus of $5.81 billion.

Separately, investment management firm L1 Capital also talked about Mastercard Incorporated (NYSE:MA) in its December 2022 quarterly report. Here’s what the firm said:

“During the December 2022 Quarter over 50% of the Fund’s holdings’ share prices increased by more than 10% in local currency with a number of them increasing by more than 20%. Five companies positively contributed over 0.5% (in AUD) to the Fund’s returns for the quarter which includes Mastercard Incorporated (NYSE:MA). Mastercard’s share price also increased over 20% in the December 2022 Quarter. These companies span a range of industries and size by market capitalization and include both ‘Growth’ and cyclical ‘Value’ businesses. All meet the L1 Capital International unique definition of Quality.”

1. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 165

Visa Inc. (NYSE:V) recently posted impressive financial results for its fiscal first quarter. The digital payment services provider reported adjusted earnings of $2.18 per share, up 21 percent over the year-ago period.

Revenue for the quarter also rose 12 percent versus last year to $7.9 billion. Analysts expected Visa Inc. (NYSE:V) to earn $2.01 per share on revenue of $7.7 billion.

Subsequently, Raymond James analyst John Davis lifted his price target for Visa Inc. (NYSE:V) from $261 per share to $281 per share on Friday, January 27, citing the company’s solid quarterly performance.

Speaking on the results, CEO Alfred F. Kelly, Jr., said in a statement:

“In our fiscal first quarter of 2023, Visa grew net revenues 12% year over year as we saw stable payments volume and processed transaction growth and continued cross-border travel recovery. We had 8% growth in GAAP EPS, 21% growth in non-GAAP EPS and returned $4 billion to shareholders.”

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