Uber To Rally Around 55%? Here Are 10 Other Analyst Forecasts For Wednesday
Portfolio Pulse from Lisa Levin
Analysts have updated their price targets for several stocks, including Lumentum, FedEx, Clene, Chipotle, Snowflake, Tesla, Coherent, Nike, Beauty Health, Uber, and Legacy Housing. The changes include both upgrades and downgrades, with some stocks experiencing pre-market price movements.

June 21, 2023 | 12:00 pm
News sentiment analysis
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NEGATIVE IMPACT
HC Wainwright & Co. slashed Clene's price target from $15 to $7, maintaining a Buy rating. Clene shares fell 2.5% to $0.9751 in pre-market trading.
The significant price target cut for Clene is a negative signal for the stock, indicating that the analyst has lowered their expectations for the company's performance. The maintained Buy rating suggests some potential upside, but the pre-market price drop indicates that investors may be reacting negatively to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Stifel lowered Beauty Health's price target from $17 to $10, downgrading the stock from Buy to Hold. Beauty Health shares fell 5.6% to $8.21 in pre-market trading.
The price target cut and downgrade for Beauty Health are negative signals for the stock, indicating that the analyst has lowered their expectations for the company's performance. The pre-market price drop suggests that investors may be reacting negatively to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Rosenblatt raised Coherent's price target from $41 to $55, downgrading the stock from Buy to Neutral. Coherent shares fell 4.5% to $52.85 in pre-market trading.
The price target increase for Coherent suggests a potential upside, but the downgrade from Buy to Neutral indicates that the analyst does not see a strong short-term catalyst. The pre-market price drop may be due to the downgrade or other market factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Raymond James cut FedEx's price target from $280 to $270, maintaining an Outperform rating. FedEx shares fell 2.9% to $224.93 in pre-market trading.
The price target reduction for FedEx may be seen as a negative signal, but the maintained Outperform rating suggests that the analyst still believes in the stock's potential. The pre-market price drop may be a reaction to the price target cut or other market factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Rosenblatt raised Lumentum's price target from $48 to $67, maintaining a Neutral rating. Lumentum shares fell 1.3% to $60.56 in pre-market trading.
The price target increase suggests a potential upside for Lumentum, but the maintained Neutral rating indicates that the analyst does not see a strong short-term catalyst. The pre-market price drop may be due to other market factors or investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Telsey Advisory Group cut Nike's price target from $140 to $135, maintaining an Outperform rating. Nike shares rose 0.2% to $109.78 in pre-market trading.
The price target reduction for Nike may be seen as a negative signal, but the maintained Outperform rating suggests that the analyst still believes in the stock's potential. The pre-market price increase may be a reaction to the rating or other market factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Barclays raised Tesla's price target from $220 to $260, downgrading the stock from Overweight to Equal-Weight. Tesla shares rose 1.3% to $278.11 in pre-market trading.
The price target increase for Tesla is a positive signal, but the downgrade from Overweight to Equal-Weight indicates that the analyst sees the stock as fairly valued at the moment. The pre-market price increase may be a reaction to the price target raise or other market factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Wedbush raised Chipotle's price target from $2,200 to $2,300, maintaining an Outperform rating. Chipotle shares rose 0.8% to close at $2,049.80 on Tuesday.
The price target increase for Chipotle is a positive signal for the stock, indicating that the analyst has higher expectations for the company's performance. The maintained Outperform rating and the stock's price increase suggest that investors may be reacting positively to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
EF Hutton raised Legacy Housing's price target from $28 to $30, maintaining a Buy rating. Legacy Housing shares gained 2.6% to close at $21.58 on Tuesday.
The price target increase for Legacy Housing is a positive signal for the stock, indicating that the analyst has higher expectations for the company's performance. The maintained Buy rating and the stock's price increase suggest that investors may be reacting positively to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Needham raised Snowflake's price target from $180 to $216, maintaining a Buy rating. Snowflake shares rose 0.4% to $179.76 in pre-market trading.
The price target increase for Snowflake is a positive signal for the stock, indicating that the analyst has higher expectations for the company's performance. The maintained Buy rating and the stock's pre-market price increase suggest that investors may be reacting positively to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Oppenheimer raised Uber's price target from $55 to $65, maintaining an Outperform rating. Uber shares fell 3.1% to close at $42.17 on Tuesday.
The price target increase for Uber is a positive signal for the stock, indicating that the analyst has higher expectations for the company's performance. The maintained Outperform rating suggests potential upside, but the stock's price drop may be due to other market factors or investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100