Nasdaq To Rally Around 13%? Here Are 10 Top Analyst Forecasts For Tuesday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have updated their price targets and ratings for several companies, including Nasdaq, Scholar Rock, Frontier Communications, CEMEX, Guidewire Software, First Solar, SolarEdge Technologies, Tetra Tech, Phillips 66, and HubSpot. These changes reflect varying outlooks on the stocks, with some receiving upgrades and others downgrades.
October 08, 2024 | 12:05 pm
News sentiment analysis
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POSITIVE IMPACT
Baird boosted Guidewire Software's price target from $175 to $204, maintaining an Outperform rating. Shares fell 1.1% to $182.17.
The significant increase in price target and maintained Outperform rating suggest positive sentiment, likely leading to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Stifel boosted HubSpot's price target from $600 to $625, maintaining a Buy rating. Shares fell 2.4% to $522.09.
The significant increase in price target and maintained Buy rating suggest positive sentiment, likely leading to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Piper Sandler raised Nasdaq's price target from $73 to $80, maintaining an Overweight rating. Despite this, Nasdaq shares fell 1.7% to $70.87.
The increase in price target and maintained Overweight rating suggest positive sentiment from Piper Sandler, which could lead to a short-term price increase despite the recent drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Piper Sandler raised Phillips 66's price target from $136 to $144, maintaining an Overweight rating. Shares fell 0.1% to $138.50.
The increase in price target and maintained Overweight rating suggest positive sentiment, likely leading to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
HC Wainwright & Co raised Scholar Rock's price target from $30 to $35, maintaining a Buy rating. Shares jumped 362% to $34.28.
The significant price target increase and Buy rating, along with a massive share price jump, indicate strong positive sentiment and potential for further gains.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 95
POSITIVE IMPACT
Keybanc raised Tetra Tech's price target from $49 to $56, maintaining an Overweight rating. Shares fell 0.7% to $48.01.
The increase in price target and maintained Overweight rating suggest positive sentiment, likely leading to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
NEUTRAL IMPACT
RBC Capital cut CEMEX's price target from $9 to $6.5 but upgraded the stock from Underperform to Sector Perform. Shares fell 0.7% to $5.88.
The upgrade to Sector Perform offsets the negative impact of the price target cut, resulting in a neutral short-term outlook.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Morgan Stanley cut SolarEdge's price target from $28 to $23, maintaining an Equal-Weight rating. Shares rose 1.4% to $20.42.
The price target cut is offset by the maintained Equal-Weight rating and recent share price increase, resulting in a neutral short-term outlook.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
B of A Securities slashed First Solar's price target from $343 to $321, maintaining a Buy rating. Shares fell 0.7% to $229.62.
The reduction in price target, despite a maintained Buy rating, suggests some negative sentiment, likely leading to short-term price pressure.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
TD Cowen cut Frontier Communications' price target from $39 to $38.5 and downgraded the stock from Buy to Hold. Shares fell 0.1% to $35.32.
The downgrade from Buy to Hold and a slight reduction in price target suggest a less optimistic outlook, likely leading to short-term price pressure.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85