Micron To Rally More Than 25%? 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, including Albemarle Corporation (ALB), Micron Technology (MU), Nordstrom (JWN), James River Group Holdings (JRVR), Foot Locker (FL), Couchbase (BASE), International Business Machines Corporation (IBM), GoDaddy Inc. (GDDY), and Shake Shack Inc. (SHAK). These changes reflect analysts' latest views on these stocks, with some experiencing upgrades, downgrades, and adjustments in price targets.
March 07, 2024 | 1:30 pm
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POSITIVE IMPACT
Piper Sandler increased GoDaddy's price target from $130 to $145, maintaining an Overweight rating.
The increase in price target and positive rating suggest strong confidence in GoDaddy's growth potential.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Stifel raised Micron's price target from $80 to $120 and upgraded the stock from Hold to Buy.
The upgrade and significant increase in price target suggest strong confidence in Micron's future performance.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
TD Cowen upgraded Shake Shack from Market Perform to Outperform and raised the price target from $91 to $125.
The upgrade and significant price target increase reflect a bullish outlook on Shake Shack's future performance.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Keybanc cut Albemarle's price target from $178 to $159 but maintained an Overweight rating.
The reduction in price target suggests a cautious outlook, but the Overweight rating indicates a positive view on the stock's potential.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Goldman Sachs raised Couchbase's price target from $20 to $30, maintaining a Neutral rating.
The increase in price target suggests a positive adjustment in valuation, though the Neutral rating indicates a wait-and-see approach.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
NEUTRAL IMPACT
Bernstein raised IBM's price target from $165 to $186, maintaining a Market Perform rating.
The raised price target indicates a positive view on IBM's valuation, but the neutral rating suggests a balanced perspective.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Telsey Advisory Group slashed Foot Locker's price target from $38 to $28 and downgraded the stock to Market Perform.
The significant cut in price target and downgrade reflect a bearish view on Foot Locker's near-term prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Keefe, Bruyette & Woods cut James River Group's price target from $11 to $9, maintaining a Market Perform rating.
The decrease in price target with a neutral rating suggests a cautious but not overly negative outlook.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Nordstrom received mixed reviews with Jefferies lowering the price target from $18 to $17 and downgrading to Hold, while B of A Securities raised the target from $13 to $15 but maintained an Underperform rating.
The mixed analyst views and adjustments in price targets indicate uncertainty and a potentially bearish outlook for Nordstrom.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85