Netflix To $650? Here Are 10 Top Analyst Forecasts For Wednesday
Portfolio Pulse from Avi Kapoor
Top Wall Street analysts have updated their price targets for several companies, including Netflix, Reddit, Cytokinetics, Sage Therapeutics, Shopify, The Home Depot, Ciena, S&P Global, Blue Owl Capital, and Genpact. Notably, Netflix's price target was raised to $650 by Deutsche Bank, while The Home Depot received an upgrade to Buy from Loop Capital.
October 09, 2024 | 12:09 pm
News sentiment analysis
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NEGATIVE IMPACT
Baird cut Sage Therapeutics' price target from $13 to $9, maintaining a Neutral rating. Shares fell 4.3% to $6.43.
The reduced price target and share price drop reflect negative sentiment, likely due to concerns about the company's prospects.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
HC Wainwright & Co raised Cytokinetics' price target from $90 to $120, maintaining a Buy rating. Despite this, shares fell 2.1% to $54.33.
The raised price target suggests long-term optimism, but the immediate share price drop indicates short-term market skepticism or other factors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Baird boosted Genpact's price target from $38 to $44, maintaining a Neutral rating. Shares fell 1.6% to close at $38.92.
The raised price target indicates long-term optimism, but the immediate share price decline suggests short-term market skepticism.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
JMP Securities raised Blue Owl Capital's price target from $24 to $25, maintaining a Market Outperform rating. Shares fell 1.8% to close at $20.35.
Despite the raised price target, the share price drop suggests short-term market concerns or other influencing factors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Morgan Stanley increased Ciena's price target from $60 to $63, maintaining an Overweight rating. Ciena shares rose 2.6% to close at $65.25.
The raised price target and Overweight rating reflect positive expectations, contributing to the share price increase.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Loop Capital raised The Home Depot's price target from $360 to $460 and upgraded the stock from Hold to Buy. Shares gained 1.5% to close at $414.18.
The upgrade to Buy and significant price target increase indicate strong confidence in Home Depot's future performance, boosting investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Deutsche Bank raised Netflix's price target from $590 to $650, maintaining a Hold rating. Netflix shares gained 2.8% to close at $721.76.
The increase in price target by Deutsche Bank suggests positive sentiment, likely boosting investor confidence and contributing to the 2.8% rise in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Needham raised Reddit's price target from $75 to $85, maintaining a Buy rating. Reddit shares gained 0.5% to close at $70.77.
The raised price target and maintained Buy rating indicate positive expectations, which may support further share price appreciation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Baird boosted Shopify's price target from $79 to $90, maintaining an Outperform rating. Shopify shares gained 2.1% to close at $82.58.
The increased price target and Outperform rating suggest strong growth expectations, contributing to the share price increase.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Morgan Stanley raised S&P Global's price target from $564 to $570, maintaining an Overweight rating. Shares gained 2.4% to close at $518.35.
The increased price target and Overweight rating suggest continued confidence in S&P Global's performance, supporting the share price rise.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80