Spotify To Rally Around 36%? 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 US-listed companies, including FMC Corporation, NXP Semiconductors, Quest Diagnostics, Aptiv PLC, Kimball Electronics, New York Community Bancorp, Rallybio Corporation, Spotify Technology, Dynatrace, and Snap Inc. The changes include both upgrades and downgrades, with adjustments to price targets reflecting analysts' latest views on these stocks.
February 07, 2024 | 2:06 pm
News sentiment analysis
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NEGATIVE IMPACT
Morgan Stanley downgraded Aptiv from Equal-Weight to Underweight and slashed the price target from $90 to $74. Shares gained 2.4% to close at $84.19.
Despite the downgrade and price target cut by Morgan Stanley, the short-term impact may be mixed due to the recent gain in share price, indicating market factors may also be at play.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Keybanc cut FMC's price target from $80 to $76 but maintained an Overweight rating. FMC shares fell 11.5% to close at $53.45.
The reduction in price target by Keybanc, despite maintaining an Overweight rating, could lead to short-term negative sentiment among investors, as evidenced by the recent drop in share price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
EF Hutton cut Kimball Electronics' price target from $37 to $33 but maintained a Buy rating. Shares fell 14.1% to close at $20.18.
The significant drop in share price following the price target cut, despite a Buy rating, suggests a negative short-term impact on investor sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
B of A Securities downgraded New York Community Bancorp from Buy to Neutral and cut the price target from $8.5 to $5. Shares fell 22.2% to close at $4.20.
The downgrade and significant price target cut by B of A Securities likely contributed to the sharp decline in share price, indicating a strong negative short-term impact.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEUTRAL IMPACT
Rosenblatt raised Dynatrace's price target from $58 to $65, maintaining a Buy rating. Shares fell 0.8% to close at $59.58.
The increase in price target and Buy rating suggests a positive outlook, but the slight drop in share price indicates a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Jefferies upgraded Quest Diagnostics from Hold to Buy and raised the price target from $140 to $155. Shares gained 2% to close at $126.26.
The upgrade to Buy and the increase in price target by Jefferies indicate a strong positive outlook for Quest Diagnostics, likely leading to further investor interest.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
JP Morgan raised NXP Semiconductors' price target from $220 to $240, maintaining a Neutral rating. Shares rose 0.9% to close at $223.
The increase in price target by JP Morgan could foster positive sentiment among investors, as reflected by the slight increase in share price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
HC Wainwright & Co. lowered Rallybio's price target from $17 to $12 but maintained a Buy rating. Shares rose 24% to close at $1.55.
Despite the price target cut, the maintenance of a Buy rating and the significant share price increase suggest a positive short-term outlook among investors.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Rosenblatt raised Snap's price target from $11 to $12, maintaining a Neutral rating. Shares rose 4.2% to close at $17.45.
The slight increase in price target, despite a Neutral rating, coincides with a rise in share price, indicating a modestly positive short-term sentiment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90
POSITIVE IMPACT
Rosenblatt raised Spotify's price target from $300 to $315, maintaining a Buy rating. Shares gained 3.9% to close at $231.92.
The increase in price target and continued Buy rating by Rosenblatt likely contribute to positive investor sentiment, as reflected by the rise in share price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90