Several top Wall Street analysts have recently upgraded their ratings on a handful of prominent companies, suggesting a positive outlook for these businesses.
Loop Capital’s analyst Ananda Baruah raised the rating for NetApp, Inc. (NTAP) from Hold to Buy, and increased the price target from $121 to $150. This move reflects a bullish stance on NetApp’s future prospects. NetApp shares responded positively to the upgrade, closing at $120.72 on Friday, representing a 1.3% gain.
Deutsche Bank analyst Matt O’Connor upgraded the rating for Bank of America Corporation (BAC) from Hold to Buy, setting a new price target of $45. This upgrade indicates a belief in Bank of America’s potential for growth. The bank’s shares saw a 1.4% increase, closing at $40.75 on Monday.
Evercore ISI Group’s analyst Duane Pfennigwerth upgraded Southwest Airlines Co. (LUV) from In-Line to Outperform, raising the price target from $30 to $35. This upgrade reflects confidence in Southwest’s future performance. Southwest shares experienced a 0.6% rise, closing at $28.92 on Friday.
Matt O’Connor of Deutsche Bank also upgraded Wells Fargo & Company (WFC) from Hold to Buy, establishing a price target of $65. This upgrade points to a bullish outlook for Wells Fargo. The company’s shares closed at $58.47 on Friday, a 2% gain.
Finally, Mizuho analyst John Roberts upgraded International Flavors & Fragrances Inc. (IFF) from Neutral to Outperform, increasing the price target from $109 to $120. This upgrade suggests confidence in IFF’s future growth trajectory. IFF shares closed at $103.99 on Friday, registering a 1% gain.
These analyst upgrades highlight positive sentiments towards these companies and their potential for future growth. Investors may want to consider these developments when making investment decisions.
