Amazon To Rally Over 37%? 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 companies, including Amazon, Gartner, Starbucks, PayPal, Zebra Technologies, McDonald's, CECO Environmental, Skyworks Solutions, Sirius XM, and The Macerich Company. These changes reflect analysts' latest views on these stocks, with adjustments made to price targets and, in some cases, ratings.
May 01, 2024 | 12:14 pm
News sentiment analysis
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NEGATIVE IMPACT
Piper Sandler downgraded The Macerich Company from Neutral to Underweight and slashed the price target from $17 to $11. Macerich shares fell 14.1% to close at $13.76.
The downgrade and significant price target reduction indicate a bearish outlook for The Macerich Company, likely contributing to negative short-term investor sentiment.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
TD Cowen downgraded Skyworks Solutions from Buy to Hold and cut the price target from $125 to $90. Skyworks' shares fell 1.2% to close at $106.59.
The downgrade and price target cut reflect a more cautious outlook on Skyworks Solutions, likely leading to negative short-term sentiment among investors.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEUTRAL IMPACT
Baird lowered Gartner's price target from $536 to $517 but maintained an Outperform rating. Gartner's shares fell 8% to close at $412.59.
Despite the price target cut, Baird's continued Outperform rating indicates a belief in Gartner's strong fundamentals, which may mitigate negative short-term impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEUTRAL IMPACT
BMO Capital slightly lowered McDonald's price target from $335 to $330, maintaining an Outperform rating. McDonald's shares fell 0.2% to close at $273.04.
The minor price target adjustment and stable Outperform rating suggest a neutral short-term impact, with underlying confidence in McDonald's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Goldman Sachs upgraded Sirius XM from Sell to Neutral and lowered the price target from $3.5 to $3.25. Sirius XM's shares fell 7.3% to close at $2.94.
The upgrade to Neutral despite a lower price target suggests a moderated outlook, with the stock's drop indicating short-term market reaction to the price target adjustment.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Mizuho raised Amazon's price target from $230 to $240, maintaining a Buy rating. Amazon's stock fell 3.3% to close at $175.00.
The price target increase by Mizuho suggests a positive outlook on Amazon's future performance, potentially leading to a short-term bullish sentiment among investors.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Needham increased CECO Environmental's price target from $23 to $26, maintaining a Buy rating. CECO's shares fell 14.9% to close at $21.62.
Despite the stock's significant drop, the raised price target and Buy rating indicate a positive long-term view, potentially leading to recovery and short-term buying opportunities.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
JMP Securities increased PayPal's price target from $70 to $82, maintaining a Market Outperform rating. PayPal's shares rose 1.4% to close at $67.92.
The raised price target and positive stock response indicate a bullish outlook for PayPal, suggesting potential short-term gains.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
BTIG reduced Starbucks' price target from $115 to $100, maintaining a Buy rating. Starbucks' stock slightly rose by 0.2% to close at $88.49.
The price target reduction reflects adjustments in valuation, yet the maintained Buy rating and slight stock increase suggest a stable outlook.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
TD Cowen raised Zebra Technologies' price target from $300 to $375, maintaining a Buy rating. The stock rose 4.9% to close at $314.56.
The significant price target increase and stock's positive reaction highlight strong investor confidence and a bullish short-term outlook for Zebra Technologies.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90