Truist Securities analyst Bertrand Donnes initiated coverage on BKV Corporation (BKV) with a Buy rating and a price target of $24, highlighting the company’s unique ‘closed-loop’ system and strong growth potential across its three segments. The analyst expects BKV to deliver on all three segments by 2025, with the company well-positioned to consolidate Barnett upstream assets, expand its Power JV into data center demand, and pursue larger CCUS projects.
Truist Securities has initiated coverage on Guardian Pharmacy Services (GRDN) with a ‘Buy’ rating and a price target of $22. The firm sees a sizable market opportunity for the company, which operates long-term care pharmacies, citing strong industry trends driven by the aging population and an increase in residents at assisted living facilities. Truist believes Guardian’s differentiated scale, suite of capabilities, and strategic market targeting make it well-positioned for growth.
Truist Securities has raised its price target for Corcept Therapeutics, citing strong Korlym sales despite growing competition and the potential of its new drug, relacorilant. The firm believes Corcept could achieve $3 billion in revenue within five years, driven by increased market penetration of relacorilant.
Truist Securities analyst Jordan Levy has initiated coverage on First Solar, Inc. (FSLR) with a ‘Buy’ rating and a price target of $300. Levy highlights First Solar’s competitive edge in the utility-scale solar market, driven by its innovative technology, ongoing R&D investments, and strong contracted backlog. He expects First Solar’s modules to become even more competitive with ongoing technology enhancements and forecasts $640 million in aggregate R&D spend from 2024 to 2026.
Truist Securities has downgraded Incyte Corporation due to the approaching patent loss for its top-selling drug, Jakafi. While Incyte’s pipeline holds promise, Truist expresses concern about the ability to offset the revenue decline from generic competition. The analyst highlights the importance of late-stage results for Povorcitinib in hidradenitis suppurativa and early-stage data for Zilurgisertib in myelofibrosis.
Truist Securities initiated coverage on Longboard Pharmaceuticals, Inc. (LBPH) with a Buy rating and a $60 price target, citing its CNS-focused biotech platform and the potential of its lead drug bexicaserin to disrupt the epilepsy market. The analyst believes bexicaserin’s superior safety profile and comparable efficacy to current market leader Fintepla could lead to market share gains and market expansion.
Truist Securities has initiated coverage on Protagonist Therapeutics (PTGX) with a Buy rating and a $60 price target, citing its promising lead assets and significant market potential. The firm forecasts robust sales for rusfertide and JNJ-2113, highlighting their potential to disrupt the blood cancer and inflammatory diseases markets respectively.
Truist Securities analyst Scot Ciccarelli expects Five Below’s second-quarter results to be in line with lowered estimates but with top-line risks. The analyst cited concerns regarding the recent CEO change, self-inflicted issues, and potential for reduced unit growth. Despite recognizing Five Below’s strong product innovation and unit economics, Truist maintains a Hold rating until gaining more clarity on the situation.
Lockheed Martin Corp (LMT) reported better-than-expected first-quarter financial results, driven by revenue growth and strong earnings. Despite the positive results, analysts have varying opinions on the company’s stock.
