Wall Street analysts have been busy adjusting their outlooks on a number of high-profile companies, with several price target changes and rating updates announced recently.
B of A Securities lowered its price target for PVH Corp. from $133 to $130, but maintained a Buy rating on the stock. PVH shares ended the day down 6.4% at $97.75. Meanwhile, Rosenblatt lowered the price target for CrowdStrike Holdings from $330 to $325, also maintaining a Buy rating. CrowdStrike shares closed down 2.1% at $264.20.
On the other hand, Loop Capital raised its price target for Salesforce from $240 to $270, but kept a Hold rating on the stock. Salesforce shares dropped 2% to close at $258.90. Similarly, Baird increased its price target for Veeva Systems from $245 to $251, while maintaining an Outperform rating. Veeva shares ended the day down 0.5% at $199.35.
Wells Fargo raised its price target for NVIDIA Corporation from $155 to $165, keeping an Overweight rating. NVIDIA shares closed down 2.1% at $125.61. Williams Trading boosted its price target for Shoe Carnival from $42 to $51, maintaining a Buy rating. Shoe Carnival shares closed down 6.1% at $40.47.
Evercore ISI Group increased its price target for Spotify Technology from $420 to $460, maintaining an Outperform rating. Spotify shares ended the day down 0.6% at $337.56. Morgan Stanley, however, took a different approach, cutting its price target for Equinor ASA from $30.5 to $25.8 and downgrading the stock from Equal-Weight to Underweight. Equinor shares closed at $27.10.
In a positive move, Piper Sandler boosted its price target for Neurocrine Biosciences from $131 to $159 and upgraded the stock from Neutral to Overweight. Neurocrine Biosciences shares fell 18.9% to close at $123.76. Finally, UBS raised its price target for HP Inc. from $34 to $37, while maintaining a Neutral rating. HP shares ended the day down 2.4% at $34.76.
These analyst revisions highlight the dynamic nature of the stock market and the continuous assessment of companies’ performance and potential. Investors can leverage these insights to inform their own investment decisions, but it’s crucial to remember that analyst recommendations are just one piece of the puzzle when it comes to investing.
