Uber To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Thursday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have updated their price targets and ratings for several US-listed companies, leading to varied stock price movements on Wednesday. Notable adjustments include upgrades and increased price targets for HubSpot, Entegris, The Home Depot, Ingredion, Medpace Holdings, and Uber Technologies, with significant stock gains for some. Conversely, Owens Corning, United States Steel Corporation, Comcast Corporation, and Akamai Technologies saw downgrades and/or reduced price targets, affecting their stock prices differently.
February 15, 2024 | 1:12 pm
News sentiment analysis
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NEGATIVE IMPACT
HSBC downgraded Akamai Technologies from Hold to Reduce and lowered the price target from $109 to $96. Akamai's stock fell 8.2% to close at $114.80.
The downgrade and price target reduction by HSBC likely contributed to Akamai Technologies' significant stock decline, reflecting a bearish analyst view.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Evercore ISI Group downgraded Owens Corning from Outperform to In-Line and cut the price target from $163 to $154. The stock fell 2.7% to close at $143.03.
The downgrade and reduced price target by Evercore ISI Group likely contributed to Owens Corning's stock decline, indicating a more cautious analyst outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Redburn Atlantic downgraded Comcast Corporation from Buy to Neutral and cut the price target from $50 to $44. Comcast's stock rose 0.4% to close at $42.02.
Despite the downgrade and reduced price target by Redburn Atlantic, Comcast's stock experienced a slight increase, suggesting mixed market reactions to the news.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 85
NEUTRAL IMPACT
Morgan Stanley raised United States Steel's price target from $40 to $51 but downgraded the stock from Overweight to Equal-Weight. The stock slightly rose 0.1% to close at $45.64.
The mixed signal of a higher price target but a downgrade to Equal-Weight by Morgan Stanley likely resulted in a neutral short-term impact on United States Steel's stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Needham raised Entegris' price target from $120 to $150 with a Buy rating. Entegris' stock gained 5.7% to close at $131.17.
The significant increase in price target and continued Buy rating by Needham likely influenced the stock's positive performance, reflecting strong market confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Telsey Advisory Group increased The Home Depot's price target from $325 to $335, maintaining a Market Perform rating. The stock rose 0.2% to close at $358.23.
The modest increase in price target and stable Market Perform rating by Telsey Advisory Group likely had a slight positive impact on The Home Depot's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Piper Sandler raised HubSpot's price target from $630 to $675, maintaining an Overweight rating. HubSpot's stock rose 4.3% to close at $629.64.
The increased price target and maintained Overweight rating by Piper Sandler likely contributed to the positive stock movement, indicating strong analyst confidence in HubSpot.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Goldman Sachs upgraded Ingredion to Buy from Neutral and raised the price target from $122 to $135. Ingredion's stock rose 2.2% to close at $110.79.
The upgrade to Buy and increased price target by Goldman Sachs likely contributed to Ingredion's stock appreciation, signaling strong analyst support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
UBS upgraded Medpace Holdings to Buy from Neutral and raised the price target from $282 to $452. Medpace's stock surged 7.1% to close at $389.80.
The substantial upgrade and price target increase by UBS likely played a key role in Medpace Holdings' significant stock gain, reflecting high analyst confidence.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Keybanc raised Uber Technologies' price target from $79 to $90, maintaining an Overweight rating. Uber's stock surged 14.7% to close at $79.15.
The significant price target increase and maintained Overweight rating by Keybanc likely drove Uber Technologies' substantial stock gain, indicating strong analyst and market optimism.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 95