QUALCOMM To Rally Around 20%? Here Are 10 Top Analyst Forecasts For Friday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have updated their outlooks on several major stocks. Keybanc slashed Asana's price target, Needham cut MongoDB's target, and B of A Securities lowered Veeva Systems' target. Evercore ISI Group reduced Ulta Beauty's target, while Keefe, Bruyette & Woods downgraded Valley National Bancorp. Piper Sandler also cut Veeva Systems' target. Morgan Stanley boosted Dell Technologies' target, and B of A Securities raised QUALCOMM's target. Telsey Advisory Group cut Kohl's target, and Morgan Stanley increased The Gap's target.
May 31, 2024 | 12:58 pm
News sentiment analysis
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NEGATIVE IMPACT
Keybanc slashed the price target for Asana from $14 to $13 and maintained an Underweight rating. Asana shares fell 4.9% to close at $13.13.
The reduction in price target and maintenance of an Underweight rating by Keybanc suggests a negative outlook, leading to a 4.9% drop in share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Morgan Stanley boosted the price target for Dell Technologies from $152 to $155, maintaining an Overweight rating. Shares fell 5.2% to close at $169.92.
Despite the increase in price target and maintenance of an Overweight rating by Morgan Stanley, Dell Technologies' shares fell 5.2%, indicating negative market sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Telsey Advisory Group cut Kohl's price target from $28 to $23, maintaining a Market Perform rating. Shares dipped 22.9% to close at $21.02.
The reduction in price target and maintenance of a Market Perform rating by Telsey Advisory Group led to a significant 22.9% drop in Kohl's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Needham cut the price target for MongoDB from $465 to $290 but maintained a Buy rating. MongoDB shares dipped 7.2% to close at $310.00.
Despite maintaining a Buy rating, the significant reduction in price target by Needham led to a 7.2% drop in MongoDB's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
B of A Securities lowered Veeva Systems' price target from $240 to $204, maintaining a Neutral rating. Shares fell 3.2% to close at $194.19.
The reduction in price target and maintenance of a Neutral rating by B of A Securities suggests a cautious outlook, leading to a 3.2% drop in share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Keefe, Bruyette & Woods lowered Valley National Bancorp's price target from $12 to $8 and downgraded the stock from Outperform to Market Perform. Shares gained 0.6% to close at $6.95.
The downgrade and reduction in price target by Keefe, Bruyette & Woods suggest a cautious outlook, but shares still gained 0.6%, indicating mixed market sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Morgan Stanley boosted The Gap's price target from $20 to $27, maintaining an Equal-Weight rating. Shares gained 4% to close at $22.52.
The increase in price target and maintenance of an Equal-Weight rating by Morgan Stanley led to a 4% rise in The Gap's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
B of A Securities raised QUALCOMM's price target from $180 to $245, maintaining a Buy rating. Shares fell 1.3% to close at $204.80.
The increase in price target and maintenance of a Buy rating by B of A Securities suggest a positive outlook, despite a 1.3% drop in QUALCOMM's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Evercore ISI Group cut the price target for Ulta Beauty from $630 to $500 but maintained an Outperform rating. Shares rose 1.9% to close at $385.58.
Despite the reduction in price target, the maintenance of an Outperform rating by Evercore ISI Group led to a 1.9% rise in Ulta Beauty's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80