Dell To Rally Around 27%? Here Are 10 Top Analyst Forecasts For Friday
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 Thursday. Notable adjustments include increases in price targets for Veeva Systems, SoundHound AI, Bath & Body Works, Dell Technologies, Flywire Corporation, Hormel Foods, Autodesk, ACI Worldwide, and AvePoint. Meanwhile, Zscaler's price target was reduced, and Flywire Corporation was downgraded from Overweight to Equal-Weight by Morgan Stanley.
March 01, 2024 | 1:14 pm
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POSITIVE IMPACT
Canaccord Genuity raised ACI Worldwide's price target from $34 to $40, maintaining a Buy rating. ACI Worldwide's stock gained 6.3%.
The increase in ACI Worldwide's price target and the maintenance of a Buy rating likely contributed to the stock's positive performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Piper Sandler increased Autodesk's price target from $234 to $260, maintaining a Neutral rating. Autodesk's stock rose by 1.1%.
The increase in Autodesk's price target, despite a Neutral rating, suggests a positive adjustment in valuation, contributing to the stock's rise.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Evercore ISI Group raised AvePoint's price target from $9 to $10, maintaining an Outperform rating. AvePoint's stock rose by 1.1%.
The increase in AvePoint's price target and the continued positive rating suggest a favorable outlook, aiding the stock's slight rise.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Bernstein raised Dell Technologies' price target from $90 to $120, maintaining an Outperform rating. Dell's stock rose by 1.5%.
The substantial increase in Dell's price target and the continued positive rating likely contributed to the stock's upward movement.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Goldman Sachs raised Hormel Foods' price target from $26 to $28, maintaining a Sell rating. Hormel Foods' stock climbed by 14.6%.
Despite the Sell rating, the increase in Hormel Foods' price target and possibly other positive market factors led to a significant stock rise.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
DA Davidson raised SoundHound AI's price target from $5 to $7.5, maintaining a Buy rating. The stock surged by 17%.
The significant increase in SoundHound AI's price target and the maintenance of a Buy rating likely contributed to the stock's sharp rise.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 95
POSITIVE IMPACT
Barclays raised Veeva's price target from $240 to $245, maintaining an Overweight rating. Veeva's stock slightly rose by 0.1%.
The increase in price target by Barclays reflects a positive outlook on Veeva, potentially leading to a short-term positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Bernstein lowered Zscaler's price target from $311 to $280 but maintained an Outperform rating. Zscaler's stock rose by 2%.
Despite the reduction in price target, the maintenance of an Outperform rating by Bernstein suggests a continued positive outlook, aiding the stock's rise.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Telsey Advisory Group increased Bath & Body Works' price target from $50 to $53, maintaining an Outperform rating. The stock fell by 5.4%.
Despite the positive adjustment in price target and rating, Bath & Body Works' stock experienced a decline, possibly due to other market factors.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
Morgan Stanley raised Flywire's price target from $27 to $30 but downgraded the stock from Overweight to Equal-Weight. Flywire's stock fell by 1.6%.
The downgrade from Overweight to Equal-Weight by Morgan Stanley, despite the increased price target, likely led to the stock's decline.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90