QUALCOMM To Rally Around 22%? Here Are 10 Top Analyst Forecasts For Thursday
Portfolio Pulse from Avi Kapoor
Wall Street analysts have updated their price targets and ratings for several US-listed companies, impacting their stock performance. Notable changes include upgrades and downgrades for companies like First Solar, Mastercard, Fastly, Hudson Technologies, QUALCOMM, Carvana, TTM Technologies, Wingstop, Wolfspeed, and O-I Glass, with adjustments in price targets reflecting analysts' current views on these stocks.
May 02, 2024 | 12:38 pm
News sentiment analysis
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NEGATIVE IMPACT
Canaccord Genuity lowered Hudson Technologies' price target from $15 to $10 and downgraded the stock to Hold. Shares fell 1.2%.
The downgrade and price target reduction by Canaccord Genuity likely contributed to negative investor sentiment, leading to a short-term decline in Hudson Technologies' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Mizuho slightly cut Mastercard's price target from $480 to $478 but maintained a Buy rating. Shares fell 2%.
The minor price target cut by Mizuho might slightly dampen investor sentiment, but the maintained Buy rating suggests a generally positive outlook, potentially limiting the downside.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Baird reduced O-I Glass's price target from $28 to $22 but maintained an Outperform rating. Shares fell 15.9%.
The significant price target cut by Baird, despite the Outperform rating, likely contributed to the sharp decline in O-I Glass's stock price, reflecting negative market reaction.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Susquehanna cut Wolfspeed's price target from $25 to $23, maintaining a Neutral rating. Shares fell 3.4%.
The price target reduction by Susquehanna may have negatively impacted investor sentiment towards Wolfspeed, contributing to the stock's decline.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
NEUTRAL IMPACT
DA Davidson significantly reduced Fastly's price target from $24 to $8.5 and downgraded the stock to Neutral. Shares rose 2.2%.
Despite the drastic price target cut and downgrade, Fastly's shares rose, indicating that market sentiment may not align with the analyst's view or other factors are at play.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Baird raised Carvana's price target from $65 to $110, maintaining a Neutral rating. Shares gained 5%.
The significant price target increase by Baird, despite the Neutral rating, suggests an improved outlook for Carvana, which likely contributed to the stock's positive performance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Jefferies raised First Solar's price target from $209 to $211, maintaining a Buy rating. Shares rose 0.7%.
The price target increase by Jefferies reflects a positive outlook on First Solar, likely contributing to investor confidence and potentially driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Wolfe Research raised QUALCOMM's price target from $180 to $200, maintaining an Outperform rating. Shares fell 1.1%.
The price target increase by Wolfe Research indicates a strong positive outlook on QUALCOMM, which could lead to increased investor interest and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Stifel upgraded TTM Technologies from Hold to Buy and raised the price target from $15 to $19. Shares fell 1.1%.
The upgrade and price target increase by Stifel signal a bullish outlook for TTM Technologies, which could attract investor interest and support a positive stock price movement in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
TD Cowen raised Wingstop's price target from $410 to $430, maintaining a Buy rating. Shares fell 0.2%.
The price target increase for Wingstop by TD Cowen reflects optimism about the company's prospects, which could lead to positive stock price momentum despite the slight dip.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90