Planet Fitness To Rally Around 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 downgrades for Roblox Corporation and upgrades for Verrica Pharmaceuticals, Fortrea Holdings, and Planet Fitness, among others.
May 14, 2024 | 1:01 pm
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NEGATIVE IMPACT
Roblox Corporation's price target was cut from $55 to $35 by Roth MKM, and the stock was downgraded from Buy to Neutral, leading to a 1.6% stock price decrease.
The downgrade and significant price target cut by a major analyst could lead to negative investor sentiment and further stock price declines in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Fortrea Holdings Inc.'s price target was reduced from $45 to $36 by Baird, but the stock was upgraded from Neutral to Outperform, leading to a 14.9% stock price decrease.
Despite the upgrade to Outperform, the significant price target cut and stock price drop indicate mixed investor sentiment, suggesting a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Planet Fitness, Inc. had its price target raised from $68 to $78 by JP Morgan, upgrading the stock from Neutral to Overweight, which led to a 0.9% stock price increase.
The upgrade and price target increase by JP Morgan likely boosted investor confidence, contributing to the stock's price increase.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Verrica Pharmaceuticals Inc. saw its price target doubled from $8 to $16 by Needham, maintaining a Buy rating, which resulted in a 19.5% stock price increase.
The substantial price target increase and maintained Buy rating likely contributed to positive investor sentiment and the significant stock price jump.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100