The world of finance is constantly in motion, and Wall Street analysts are always evaluating companies and adjusting their outlook. This week saw a flurry of changes, with price targets being revised and ratings getting updated for a range of companies.
Tech & Energy:
Piper Sandler raised their price target for Nasdaq, Inc (NDAQ) from $73 to $80, maintaining an Overweight rating. Despite the upgrade, Nasdaq shares closed down 1.7% on Monday.
In the tech sector, Guidewire Software, Inc (GWRE) received a boost from Baird, who increased their price target from $175 to $204. The investment firm maintained an Outperform rating. However, Guidewire Software shares also saw a decline of 1.1% on Monday.
On the energy front, Piper Sandler raised the price target for Phillips 66 (PSX) from $136 to $144, with an Overweight rating. The stock closed down 0.1% on Monday.
Healthcare & Software:
HC Wainwright & Co. demonstrated confidence in Scholar Rock Holding Corporation (SRRK), raising their price target from $30 to $35 and keeping a Buy rating. The stock experienced a remarkable 362% jump on Monday.
HubSpot, Inc. (HUBS) saw an upward adjustment in its price target from Stifel, who boosted it from $600 to $625 while maintaining a Buy rating. The stock closed down 2.4% on Monday.
Mixed Signals:
The outlook for Frontier Communications Parent, Inc (FYBR) was less optimistic, with TD Cowen downgrading the stock from Buy to Hold and reducing the price target from $39 to $38.5. The stock closed down 0.1% on Monday.
RBC Capital adjusted their rating for CEMEX, S.A.B. de C.V. (CX) from Underperform to Sector Perform, while lowering the price target from $9 to $6.5. The stock closed down 0.7% on Monday.
Solar & Infrastructure:
B of A Securities lowered their price target for First Solar, Inc (FSLR) from $343 to $321, maintaining a Buy rating. The stock closed down 0.7% on Monday.
Morgan Stanley cut the price target for SolarEdge Technologies, Inc. (SEDG) from $28 to $23, holding an Equal-Weight rating. Despite the downgrade, SolarEdge shares rose 1.4% on Monday.
Keybanc showed optimism for Tetra Tech, Inc (TTEK), raising their price target from $49 to $56 and maintaining an Overweight rating. The stock closed down 0.7% on Monday.
These analyst rating changes provide valuable insights into market sentiment and can be used to inform investment decisions. It is important to consider these updates alongside other relevant factors before making any investment choices.
