Nike To Rally Around 36%? Here Are 10 Top Analyst Forecasts For Friday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have updated their price targets and ratings for several companies. Notably, Morgan Stanley downgraded FedEx, Loop Capital reduced Cracker Barrel's target, and Goldman Sachs cut Terex's target. Meanwhile, Baird raised Nike's target, and TD Cowen increased Darden Restaurants' target.
September 20, 2024 | 12:34 pm
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NEGATIVE IMPACT
Evercore ISI Group cut AutoZone's price target from $3,900 to $3,350 but maintained an Outperform rating. Shares fell 1.1% to $3,040.09.
Despite an Outperform rating, the reduced price target suggests a reassessment of growth prospects, impacting the stock negatively.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
Loop Capital cut Cracker Barrel's price target from $50 to $45, maintaining a Hold rating. Shares fell 1.1% to $41.11.
A reduced price target and a Hold rating suggest limited upside, contributing to the stock's decline.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Morgan Stanley downgraded FedEx from Equal-Weight to Underweight and cut the price target from $215 to $200. Despite this, FedEx shares rose 0.7% to $300.39.
The downgrade and reduced price target from a major firm like Morgan Stanley typically signal a negative outlook, which could pressure the stock price downward despite the recent gain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Goldman Sachs slashed Terex's price target from $72 to $62, maintaining a Neutral rating. Shares fell 3.6% to $53.83.
The significant cut in the price target by Goldman Sachs likely contributed to the sharp decline in Terex's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
TD Cowen raised Darden Restaurants' price target from $150 to $165, maintaining a Hold rating. Shares gained 8.3% to $172.27.
The raised price target and significant share price increase suggest strong market confidence in Darden's performance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Baird raised Nike's price target from $100 to $110, maintaining an Outperform rating. Nike shares rose 0.1% to $80.98.
The increased price target and Outperform rating from Baird indicate positive sentiment, likely supporting upward momentum in Nike's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 85