Tesla To Rally Around 22%? Here Are 10 Top Analyst Forecasts For Wednesday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have updated their outlooks on several major stocks, including Tesla, Zions Bancorporation, Alphabet, Boot Barn, CoStar Group, Chipotle, Visa, Spotify, Procter & Gamble, and Ulta Beauty. Notable changes include Piper Sandler raising Tesla's price target to $300 and Rosenblatt boosting Spotify's price target to $399.
July 24, 2024 | 1:15 pm
News sentiment analysis
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POSITIVE IMPACT
Rosenblatt boosted Spotify's price target from $396 to $399, maintaining a Buy rating. Spotify shares gained 12% to close at $330.79 on Tuesday.
The increase in the price target and the significant share price gain indicate strong positive sentiment and potential short-term upward movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Piper Sandler raised Tesla's price target from $205 to $300, maintaining an Overweight rating. Tesla shares fell 2% to close at $246.38 on Tuesday.
The significant increase in the price target by Piper Sandler suggests strong future performance expectations, likely boosting investor confidence in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Truist Securities increased Zions Bancorporation's price target from $45 to $54, maintaining a Hold rating. Zions shares gained 6.2% to close at $52.53 on Tuesday.
The increase in the price target and the significant share price gain indicate positive sentiment and potential short-term upward movement.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Guggenheim raised Chipotle's price target from $54.5 to $55, maintaining a Neutral rating. Chipotle shares fell 1.9% to close at $52.55 on Tuesday.
The minor increase in the price target and the Neutral rating suggest a limited short-term impact.
CONFIDENCE 60
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Wells Fargo raised Alphabet's price target from $187 to $190, maintaining an Equal-Weight rating. Alphabet shares rose 0.1% to close at $181.79 on Tuesday.
The minor increase in the price target and the minimal share price change suggest a neutral short-term impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
UBS decreased Boot Barn's price target from $140 to $125 and downgraded the stock from Buy to Neutral. Boot Barn shares fell 1% to close at $122.54 on Tuesday.
The downgrade and reduced price target indicate a negative outlook, likely leading to short-term downward pressure on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
JMP Securities slashed CoStar Group's price target from $110 to $90, maintaining a Market Outperform rating. CoStar shares fell 0.9% to close at $74.84 on Tuesday.
The significant reduction in the price target suggests a more cautious outlook, likely leading to short-term downward pressure.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Jefferies cut Procter & Gamble's price target from $182 to $175 and downgraded the stock from Buy to Hold. Procter & Gamble shares fell 1% to close at $166.62 on Tuesday.
The downgrade and reduced price target indicate a negative outlook, likely leading to short-term downward pressure on the stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Piper Sandler slashed Ulta Beauty's price target from $494 to $404 and downgraded the stock from Overweight to Neutral. Ulta Beauty shares fell 0.6% to close at $389.29 on Tuesday.
The downgrade and significant reduction in the price target suggest a more cautious outlook, likely leading to short-term downward pressure.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Morgan Stanley cut Visa's price target from $326 to $322, maintaining an Overweight rating. Visa shares fell 1.1% to close at $264.79 on Tuesday.
The slight reduction in the price target and the share price decline suggest a cautious short-term outlook.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70