Consumer Discretionary

Wells Fargo Analysts Get Picky With Restaurants In 2024

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Wells Fargo analysts are expecting restaurants stocks to slow their roll this year. They say in a research note that restaurants in their coverage have gained more than the S&P 500 in 4Q, but are facing slower comparable sales trends and traffic in the new year, causing them to be more selective. They’re leaning on companies with potential upside on margins and better traffic trends. McDonald’s is their top pick for the year with strong comparable sales drivers, while Yum! Brands gets a downgrade to equal-weight due to slower traffic and less of a pricing benefit. Yum! shares fall 5% pre-market, while McDonald’s shares are flat.

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Lululemon Athletica (NASDAQ:LULU) stock Analyst Ratings

/ / Consumer Discretionary /

Lululemon Athletica (NASDAQ:LULU) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 15.19% Truist Securities $555 → $561 Maintains Buy 12/14/2023 22.37% Stifel $529 → $596 Maintains Buy 12/13/2023 12.93% Telsey Advisory Group $520 → $550 Maintains Outperform 12/08/2023 -16.23% BMO Capital $376 → $408 Maintains Market Perform 12/08/2023 8.21% Truist Securities $500 → $527 Maintains Buy 12/08/2023 -7.6% Wells Fargo $445 → $450 Maintains Equal-Weight 12/08/2023 12.11% TD Cowen $545 → $546 Maintains Outperform 12/08/2023 3.07% Deutsche Bank $500 → $502 Maintains Buy 12/08/2023 -3.5% UBS $429 → $470 Maintains Neutral 12/08/2023 2.66% JP Morgan $489 → $500 Maintains Overweight 12/08/2023 -17.87% Bernstein $366 → $400 Maintains Market Perform 12/08/2023 1.23% Morgan Stanley $437 → $493 Maintains Overweight 12/08/2023 2.66% Keybanc $450 → $500 Maintains Overweight 12/08/2023 8.82% Barclays $480 → $530 Maintains Overweight 12/08/2023 6.77% Telsey Advisory Group $450 →

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Walmart Dives Into AI Shopping at CES. The Retailer Is Expanding Drone Delivery, Too. — Barrons.com

/ / Consumer Discretionary /

By Eric J. Savitz Walmart is going all-in on artificial intelligence software, a development which CEO Doug McMillon laid out during the retailer’s first-ever keynote address at the CES trade show in Las Vegas on Tuesday. “We build technology to serve people and not the other way around,” McMillon said in his speech at the Venetian. “Advances in technology make it feel like anything is possible…People, our customers and associates, come first and we’ll put technology to work to serve them better than ever.” Among other things, the retail giant announced a new generative-AI-powered search experience on Apple iPhones. The new feature will allow shoppers to search by specific user cases — like holding a Super Bowl watch party, and searching for wings, beer, and a big-screen TV. Walmart also disclosed another new feature, not yet available, called Walmart InHome Replenishment. The service will allow perishable goods purchased on a

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Walmart Expands Drone Delivery in Dallas as It Races Amazon — WSJ

/ / Consumer Discretionary /

By Sarah Nassauer Drones are more likely to be buzzing overhead this year if you live in Dallas. Walmart plans to offer drone delivery to most of the region this year, a major expansion of its effort in recent years to provide the delivery option to some customers in several states. In Dallas, Walmart will partner with Wing, a unit of Alphabet, and Zipline, a global drone delivery company that works with healthcare providers and others. Walmart is currently offering drone delivery in a limited way in Dallas. After the expansion, drone delivery from Walmart will be available to about 75% of the Dallas-Fort Worth population, the company said. The drone companies handle delivery, while Walmart provides goods and access to shoppers. The Federal Aviation Administration has in recent months allowed several drone-delivery companies to fly in less restrictive ways, spurring the Dallas expansion and other developments in the industry.

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Netflix, Inc. (NASDAQ: NFLX) Stock Analyst Ratings

/ / Consumer Discretionary /

Netflix, Inc. (NASDAQ: NFLX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 5.25% Citigroup → $500 Downgrades Buy → Neutral 12/28/2023 10.51% Keybanc $510 → $525 Maintains Overweight 12/22/2023 4.2% DZ Bank → $495 Downgrades Buy → Hold 12/21/2023 10.51% Wedbush → $525 Reiterates Outperform → Outperform 12/18/2023 15.77% Morgan Stanley $475 → $550 Maintains Overweight 10/19/2023 -0.01% Morgan Stanley $430 → $475 Upgrades Equal-Weight → Overweight 10/19/2023 1.04% JP Morgan $455 → $480 Maintains Overweight 10/19/2023 -3.17% Guggenheim → $460 Reiterates Buy → Buy 10/19/2023 10.51% Wedbush → $525 Reiterates Outperform → Outperform 10/19/2023 -2.12% Truist Securities $430 → $465 Upgrades Hold → Buy 10/19/2023 -0.01% Oppenheimer $470 → $475 Maintains Outperform 10/19/2023 -14.96% Rosenblatt $400 → $404 Maintains Neutral 10/19/2023 7.35% Keybanc → $510 Upgrades Sector Weight → Overweight 10/17/2023 -9.49% Truist Securities $485 → $430 Maintains Hold 10/16/2023

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Airbnb (NASDAQ:ABNB) Stock Analyst Ratings

/ / Consumer Discretionary /

Airbnb (NASDAQ:ABNB) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 -3.42% BMO Capital → $134 Initiates Coverage On → Market Perform 12/12/2023 -27.93% Barclays $135 → $100 Downgrades Equal-Weight → Underweight 12/08/2023 — DBS Bank Downgrades Buy → Hold 11/29/2023 0.9% Jefferies $155 → $140 Downgrades Buy → Hold 11/17/2023 -1.98% Evercore ISI Group → $136 Downgrades Outperform → In-Line 11/03/2023 15.32% Susquehanna $165 → $160 Maintains Positive 11/02/2023 -14.95% JP Morgan $130 → $118 Maintains Neutral 11/02/2023 -11.35% Piper Sandler $142 → $123 Maintains Neutral 11/02/2023 -24.32% Morgan Stanley $110 → $105 Maintains Underweight 11/02/2023 -2.7% Wedbush $145 → $135 Maintains Neutral 11/02/2023 8.11% Needham $160 → $150 Maintains Buy 10/31/2023 -6.31% Mizuho $150 → $130 Maintains Neutral 10/24/2023 — Seaport Global Initiates Coverage On → Neutral 10/03/2023 — Keybanc Downgrades Overweight → Sector Weight 09/15/2023 -9.19% Truist Securities $116

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Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings

/ / Consumer Discretionary /

Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 17.75% BMO Capital → $69 Initiates Coverage On → Outperform 12/29/2023 5.8% Nomura $59 → $62 Downgrades Buy → Neutral 12/19/2023 19.45% Keybanc $61 → $70 Maintains Overweight 12/04/2023 27.99% Oppenheimer $65 → $75 Maintains Outperform 12/01/2023 5.8% JMP Securities → $62 Reiterates Market Outperform → Market Outperform 11/30/2023 7.51% Needham → $63 Reiterates Buy → Buy 11/30/2023 22.87% Tigress Financial $66 → $72 Maintains Buy 11/13/2023 5.8% JMP Securities $57 → $62 Maintains Market Outperform 11/08/2023 5.8% Morgan Stanley $60 → $62 Maintains Overweight 11/08/2023 5.8% Roth MKM $61 → $62 Maintains Buy 11/08/2023 5.8% JP Morgan $56 → $62 Maintains Overweight 11/08/2023 -1.02% Truist Securities $60 → $58 Maintains Buy 11/08/2023 9.22% Wells Fargo $59 → $64 Maintains Overweight 11/08/2023 4.1% Keybanc $60 → $61 Maintains Overweight

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Starbucks Brews Aggressive Expansion In India: Eyes 1,000 Stores By 2028 With Workforce Doubling

/ / Consumer Discretionary /

Starbucks Corporation (NASDAQ:SBUX) plans to operate 1,000 stores in India by 2028, or one new store opening every three days, doubling employment. The strategy, which JV Tata Starbucks Private Limited will manifest, focuses on skilling local partners for jobs and promoting Indian-origin coffee to Starbucks customers worldwide. The company said in a statement that India’s strategic importance as one of Starbucks’ fastest-growing markets globally will see Starbucks doubling down on its presence in the market. Tata Starbucks now operates over 390 stores across 54 Indian cities, with approximately 4,300 employees. The company will also double its workforce to approximately 8,600 partners as it plans to enter Tier 2 and 3 Indian cities, expand drive-thrus, airports, and its 24-hour store footprint to serve customers. Recently, the coffee chain giant’s values and beliefs were under the microscope after Starbucks Workers United and its local branches, representing various U.S. stores of the chain, posted

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United Airline Holdings (NASDAQ:UAL) Stock Analyst Ratings

/ / Consumer Discretionary /

United Airline Holdings (NASDAQ:UAL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 28.65% B of A Securities $40 → $56 Upgrades Underperform → Buy 12/20/2023 49.32% Raymond James $68 → $65 Maintains Outperform 10/19/2023 125.13% JP Morgan $93 → $98 Maintains Overweight 10/19/2023 56.21% Raymond James $70 → $68 Maintains Outperform 10/19/2023 -8.11% Susquehanna $44 → $40 Maintains Neutral 10/19/2023 63.11% Citigroup $76 → $71 Maintains Buy 10/11/2023 1.08% Susquehanna $57 → $44 Maintains Neutral 10/05/2023 60.81% Raymond James $76 → $70 Maintains Outperform 10/02/2023 72.29% Morgan Stanley $80 → $75 Maintains Overweight 09/29/2023 10.27% Jefferies $65 → $48 Maintains Hold 09/26/2023 56.21% Bernstein $71 → $68 Maintains Outperform 08/28/2023 33.24% Evercore ISI Group $65 → $58 Maintains In-Line 08/07/2023 83.78% Redburn Partners → $80 Upgrades Neutral → Buy 07/24/2023 92.97% Citigroup $75 → $84 Maintains Buy 07/23/2023 49.32% Jefferies →

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Netflix Cut to Hold at Citi on Fears Over Revenue, Spending

/ / Consumer Discretionary /

Netflix (NFLX) was downgraded to neutral from buy at Citi, which kept a $500 price target on the streaming giant. “First, we believe 2024 revenue estimates may be a tad too high. Second, we see scope for 2025 content investments to exceed Street estimates. Third, we cannot rule-out potential acquisitions,” said analysts led by Jason Bazinet. Netflix stock has climbed 48% over the last 52 weeks though it’s slipped marginally this year. -Steve Goldstein

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Domino’s Pizza (NYSE:DPZ) stock Analyst Ratings

/ / Consumer Discretionary /

Domino’s Pizza (NYSE:DPZ) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 -8.41% Bernstein → $370 Upgrades Underperform → Market Perform 01/05/2024 16.34% Oppenheimer $450 → $470 Maintains Outperform 01/04/2024 16.34% Stifel $440 → $470 Maintains Buy 01/03/2024 -14.35% Barclays $340 → $346 Maintains Underweight 12/20/2023 15.35% HSBC → $466 Initiates Coverage On → Buy 12/11/2023 12.63% Benchmark → $455 Upgrades Hold → Buy 12/11/2023 -0.99% Piper Sandler $401 → $400 Downgrades Overweight → Neutral 12/08/2023 3.96% JP Morgan $410 → $420 Maintains Overweight 12/08/2023 17.58% BMO Capital $455 → $475 Maintains Outperform 12/08/2023 11.39% Evercore ISI Group $435 → $450 Maintains Outperform 12/08/2023 16.34% TD Cowen $430 → $470 Maintains Outperform 12/08/2023 12.63% Morgan Stanley $435 → $455 Maintains Overweight 12/08/2023 -0.99% Stephens & Co. $365 → $400 Maintains Equal-Weight 12/08/2023 4.95% Citigroup $396 → $424 Maintains Neutral 12/08/2023 -15.84% Barclays

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