NVIDIA To Rally More Than 19%? Here Are 10 Top Analyst Forecasts For Tuesday
Portfolio Pulse from Avi Kapoor
Wall Street analysts have updated their price targets and ratings for several US-listed companies, leading to varied stock price movements on Monday. Notable adjustments include increases in price targets for Microchip Technology, The Gap, Omnicom Group, NVIDIA, Tyson Foods, Zeta Global, and decreases for Alibaba, Bowlero, CVS Health, Fastenal. These changes reflect analysts' evolving views on these companies' future prospects.
May 07, 2024 | 12:31 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Truist Securities slightly cut Alibaba's price target from $114 to $113, maintaining a Buy rating. Alibaba shares rose 0.3% to close at $81.55.
The minor price target cut for Alibaba, while maintaining a Buy rating, suggests a slight adjustment rather than a significant change in outlook. The stock's slight increase indicates a neutral to slightly positive short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 85
POSITIVE IMPACT
Citigroup upgraded The Gap from Neutral to Buy and raised the price target from $21 to $28. Gap shares rose 2.9% to close at $22.21.
The upgrade and price target increase by Citigroup indicate a strong confidence in The Gap's future performance, potentially driven by strategic initiatives or market conditions favoring retail, suggesting a positive short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Susquehanna raised Microchip Technology's price target from $100 to $105, maintaining a Positive rating. The stock rose 2.6% to close at $93.76.
The price target increase by Susquehanna suggests a bullish outlook on Microchip Technology, likely due to positive performance or future growth prospects, which could lead to further stock appreciation in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Goldman Sachs raised NVIDIA's price target from $1,000 to $1,100, maintaining a Buy rating. NVIDIA shares gained 3.8% to close at $921.40.
The significant price target increase for NVIDIA by Goldman Sachs reflects a bullish stance on the company, likely due to strong growth in its core markets. This is expected to have a positive impact on NVIDIA's stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 95
POSITIVE IMPACT
Barclays upgraded Omnicom Group from Equal-Weight to Overweight and raised the price target from $100 to $110. Shares rose 0.5% to close at $93.19.
The upgrade and price target increase for Omnicom Group by Barclays suggest optimism about the company's market position and growth prospects, likely leading to positive momentum in the stock's short-term performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Needham raised Zeta Global's price target from $13 to $18, maintaining a Buy rating. Zeta Global shares gained 1.4% to close at $13.00.
The price target increase and continued Buy rating for Zeta Global by Needham suggest confidence in the company's growth trajectory, likely due to strong business fundamentals, indicating a positive short-term impact on the stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
NEUTRAL IMPACT
Baird slightly reduced Fastenal's price target from $71 to $69, maintaining a Neutral rating. Fastenal shares fell 2.5% to close at $66.74.
The minor price target adjustment for Fastenal, along with a Neutral rating, suggests a modest reassessment of the stock's value. The decline in shares indicates a neutral to slightly negative short-term impact, possibly due to market reactions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Piper Sandler raised Tyson Foods' price target from $55 to $57, maintaining a Neutral rating. Tyson Foods shares fell 5.7% to close at $58.50.
Despite the price target increase, Tyson Foods' stock fell, possibly due to market conditions or other external factors. The Neutral rating suggests a balanced view, with the price target increase having a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Oppenheimer cut Bowlero's price target from $18 to $15 but maintained an Outperform rating. Bowlero shares fell 10.3% to close at $11.20.
The price target reduction for Bowlero, despite an Outperform rating, suggests concerns that may have contributed to the stock's significant drop. This indicates a negative short-term impact, possibly due to operational or market challenges.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
TD Cowen drastically cut CVS Health's price target from $99 to $59 and downgraded the stock from Buy to Hold. CVS shares rose slightly by 0.1% to close at $55.97.
The significant price target cut and downgrade for CVS Health by TD Cowen suggest a major reassessment of the company's valuation and prospects, likely due to underlying business challenges. The slight stock increase indicates a mixed short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 95