Wall Street analysts have been busy revising their opinions on several prominent companies, providing investors with valuable insights into market trends and future prospects. Here’s a look at some of the most notable analyst rating changes, including price target adjustments, upgrades, and downgrades:
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Autodesk (ADSK):
Mizuho raised its price target from $230 to $260, maintaining a Neutral rating. Analyst Matthew Broome sees potential for growth in Autodesk’s software solutions. This news contributed to a 1.4% increase in Autodesk’s share price, closing at $258.23 on Thursday.*
MongoDB (MDB):
Morgan Stanley boosted its price target from $320 to $340, retaining an Overweight rating. Analyst Sanjit Singh believes MongoDB’s database platform is well-positioned for continued success. This positive outlook resulted in a 4.4% gain for MongoDB shares, ending the day at $245.72.*
Victoria’s Secret (VSCO):
B of A Securities raised its price target from $18 to $21, but maintained an Underperform rating. Analyst Alice Xiao remains cautious despite the increase, suggesting potential challenges for the company. Victoria’s Secret shares declined by 3.7% to $23.96 on Thursday.*
CrowdStrike Holdings (CRWD):
HSBC boosted its price target from $302 to $339 and upgraded the stock from Hold to Buy. Analyst Stephen Bersey believes CrowdStrike’s cybersecurity offerings are in high demand. This optimistic outlook led to a 2.8% surge in CrowdStrike shares, closing at $271.67.*
Kohl’s Corporation (KSS):
TD Cowen lowered its price target from $25 to $21 and downgraded the stock from Buy to Hold. Analyst Oliver Chen cited concerns about the company’s future growth prospects. Despite the downgrade, Kohl’s shares rose slightly by 0.6% to $19.77.*
Autodesk (ADSK):
Piper Sandler also increased its price target for Autodesk, raising it from $239 to $257 while maintaining a Neutral rating. Analyst Clarke Jeffries’ assessment mirrors Mizuho’s, indicating potential for growth but not necessarily outperformance. Autodesk’s shares closed at $258.23, up 1.4% for the day.*
Elastic N.V. (ESTC):
Baird slashed its price target from $135 to $95 and downgraded the stock from Outperform to Neutral. Analyst Shrenik Kothari expressed concerns about the company’s financial performance. However, Elastic shares managed a 0.6% increase to $103.64.*
Dollar General Corporation (DG):
Morgan Stanley significantly lowered its price target from $170 to $100 and downgraded the stock from Overweight to Equal-Weight. Analyst Simeon Gutman expressed concerns about Dollar General’s future earnings potential. This pessimistic outlook led to a substantial 32.2% drop in Dollar General shares, closing at $84.03.*
Stratasys Ltd. (SSYS):
Needham lowered its price target from $12 to $10, while maintaining a Buy rating. Analyst James Ricchiuti sees potential for long-term growth despite the recent challenges. Stratasys shares fell by 9.9% to $6.92.*
Best Buy Co., Inc. (BBY):
Loop Capital raised its price target from $100 to $110, keeping a Buy rating. Analyst Anthony Chukumba remains optimistic about Best Buy’s future performance. This positive sentiment resulted in a 14.1% surge in Best Buy shares, closing at $100.18.These analyst ratings provide valuable insights for investors seeking to make informed decisions about their portfolios. Remember, analyst opinions are just one piece of the puzzle when it comes to investment strategies. It’s crucial to conduct thorough research and consult with financial advisors before making any investment decisions.
