This Gap Analyst Turns Bullish; Here Are Top 5 Upgrades For Thursday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have upgraded their ratings for Fortinet, Toast, The Gap, e.l.f. Beauty, and V.F. Corporation. These upgrades come with increased price targets, despite recent declines in share prices for most of these companies.
July 18, 2024 | 1:56 pm
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POSITIVE IMPACT
Baird upgraded e.l.f. Beauty from Neutral to Outperform, boosting the price target to $230. Shares dipped 9.7% to $170.70.
The upgrade to Outperform and a significantly higher price target indicate strong future growth potential, likely attracting investors.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
TD Cowen upgraded Fortinet from Hold to Buy with a new price target of $75. Shares fell 0.6% to $59.11.
The upgrade from Hold to Buy and a higher price target suggests positive future performance, likely boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Morgan Stanley upgraded The Gap from Equal-Weight to Overweight, increasing the price target to $29. Shares fell 4.6% to $22.95.
The upgrade to Overweight and a higher price target suggest improved outlook, which could lead to a rebound in share price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Mizuho upgraded Toast from Neutral to Outperform, raising the price target to $33. Shares fell 2.5% to $26.62.
The upgrade to Outperform and a higher price target indicate strong future prospects, which may attract more investors.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Citigroup upgraded V.F. Corporation from Neutral to Buy, raising the price target to $20. Shares gained 13.6% to $16.15.
The upgrade to Buy and a higher price target, along with a significant share price gain, indicate strong investor confidence and positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100