NVIDIA To Rally Around 20%? 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 notable changes for NVIDIA, Boeing, and Southwest Airlines. NVIDIA's price target was raised significantly, while Boeing and Southwest Airlines saw adjustments in their price targets and ratings amidst varying stock performance.
March 13, 2024 | 12:51 pm
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NEGATIVE IMPACT
Wolfe Research cut Boeing's price target from $270 to $260, maintaining an Outperform rating. Shares fell 4.3% to close at $184.24.
The reduction in Boeing's price target, despite maintaining an Outperform rating, may reflect concerns about near-term challenges. This could contribute to negative sentiment and pressure on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Jefferies raised Southwest Airlines' price target from $20 to $28 and upgraded the stock from Underperform to Hold. Shares fell 14.9% to close at $28.76.
The upgrade and price target increase for Southwest Airlines indicate a more positive outlook from analysts. However, the significant drop in share price suggests that other factors may be influencing investor sentiment, leading to a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
NVIDIA's price target was raised from $925 to $1,100 by B of A Securities, maintaining a Buy rating. Shares rose 7.2% to close at $919.13.
The significant increase in NVIDIA's price target by a reputable analyst firm, coupled with a maintained Buy rating, suggests strong confidence in the company's future performance. This is likely to positively influence investor sentiment and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100