D.R. Horton To Rally Around 19%? Here Are 10 Top Analyst Forecasts For Wednesday
Portfolio Pulse from Avi Kapoor
Wall Street analysts have updated their price targets and ratings for several companies. Nokia's price target was cut by Raymond James, while Q2 Holdings and C4 Therapeutics received price target boosts from Piper Sandler and Stifel, respectively. Lululemon's target was raised by Telsey Advisory Group, and Darden Restaurants' by Keybanc. Barclays increased D.R. Horton's target, JP Morgan raised Health Catalyst's, and Needham boosted Twilio's. Morgan Stanley lifted Coherent Corp.'s target but downgraded the stock, and Wells Fargo cut Johnson & Johnson's target and downgraded the stock.
December 13, 2023 | 12:44 pm
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NEGATIVE IMPACT
Wells Fargo lowered Johnson & Johnson's price target from $170 to $163 and downgraded the stock from Overweight to Equal-Weight. Shares slightly rose to close at $155.07.
The price target cut and downgrade to Equal-Weight are negative signals, likely leading to a short-term negative impact despite the marginal share price rise.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Morgan Stanley upped Coherent Corp.'s price target from $39 to $45 but downgraded the stock from Overweight to Equal-Weight. Shares dropped 0.1% to close at $41.82.
The mixed signal of a higher price target with a downgrade to Equal-Weight and a slight share price drop suggests a neutral short-term impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Raymond James cut Nokia's price target from $4.5 to $4 but maintained an Outperform rating. Shares gained 3.2% to close at $3.22.
The price target cut could be seen as negative, but the Outperform rating and the stock's recent gain suggest a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Stifel raised C4 Therapeutics' price target from $2 to $12 and upgraded the stock from Hold to Buy. Shares surged 98.3% to close at $2.34.
The tenfold price target increase and upgrade to Buy, coupled with the stock's massive surge, indicate a strong positive short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 90
POSITIVE IMPACT
Barclays increased D.R. Horton's price target from $143 to $166 and maintained an Overweight rating. Shares gained 0.7% to close at $139.80.
The significant price target hike and maintained Overweight rating, along with the share price gain, suggest a positive short-term impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Keybanc lifted Darden Restaurants' price target from $175 to $177 and maintained an Overweight rating. Shares dropped 0.1% to close at $161.08.
The modest price target increase and Overweight rating indicate a slightly positive short-term impact, despite the small decline in share price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
JP Morgan cut Health Catalyst's price target from $14 to $11 but upgraded the stock from Neutral to Overweight. Shares rose 0.7% to close at $7.34.
Despite the price target reduction, the upgrade to Overweight and the stock's price increase point to a positive short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Telsey Advisory Group raised Lululemon's price target from $520 to $550 and maintained an Outperform rating. Shares rose 0.2% to close at $503.65.
The price target increase and continued Outperform rating suggest a positive short-term impact, supported by the slight share price increase.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Piper Sandler increased Q2 Holdings' price target from $30 to $41 and upgraded the stock from Underweight to Neutral. Shares fell 0.3% to close at $37.61.
The significant price target increase and upgrade to Neutral suggest a positive short-term outlook despite the slight share price drop.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Needham raised Twilio's price target from $70 to $80 and maintained a Buy rating. Shares fell 0.1% to close at $71.14.
The price target increase and sustained Buy rating suggest a positive short-term impact, despite the slight decrease in share price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80