Key facts
- Morgan Stanley upgraded Dell Technologies to Overweight with a $500 price target.
- Mizuho initiated coverage on Micron Technology with a Buy rating and a $150 price target.
- Wolfe Research forecasts Bitcoin to fall below $40,000 by late October.
- TD Cowen raised Victoria's Secret's price target to $75.
- Bank of America raised its price target for Air Products and Chemicals (APD).
- DA Davidson increased its price target for Target stock.
- DA Davidson added Costco and Nvidia to its Best-of-Breed lists.
- Jefferies increased Prysmian's price target to €176.
- S&P upgraded its outlook for Exxon Mobil stock.
- KeyBanc increased its stock price target for Dycom Industries.
- Craig-Hallum increased its price target on Plug Power (PLUG) after strong Q1 results.
- BofA and BMO increased their price targets for Linde (LIN).
A wave of analyst actions from various financial institutions has reshaped price targets and ratings across a spectrum of companies. Morgan Stanley has upgraded Dell Technologies to an Overweight rating from Equal-weight, simultaneously raising its price target to $500. Analyst Erik Woodring attributed this upgrade to improved execution, marking a reversal from a previous underweight stance. In the semiconductor sector, Mizuho Financial Group initiated coverage on Micron Technology with a Buy rating and set a price target of $150. Analyst Vijay Rakesh pointed to robust demand for AI-driven memory as the primary catalyst for this positive outlook. Wolfe Research, however, presented a bearish forecast for Bitcoin, predicting its price will drop below $40,000 by the end of October.
Several companies saw their price targets increased. TD Cowen raised Victoria's Secret's price target to $75, citing strong brand execution following a quarter that surpassed expectations, though some analysts express caution about current enthusiasm. Bank of America increased its price target for Air Products and Chemicals (APD) after the company reported better-than-expected quarterly earnings, highlighting strong performance and a positive outlook for the industrial gas supplier. DA Davidson raised its price target for Target stock and added both Costco and Nvidia to its Best-of-Breed lists; Costco maintained a Neutral rating, while Nvidia's inclusion underscores its top-performing status. Jefferies boosted Prysmian's price target to €176, driven by AI-driven demand for fiber optics, which also saw Prysmian shares rise. S&P has upgraded its outlook for Exxon Mobil stock, anticipating robust future cash flow. KeyBanc increased its stock price target for Dycom Industries, recognizing strong performance in Fiber to the Home (FTTH) deployments, and also raised the price target for American Healthcare REIT. Craig-Hallum increased its price target on Plug Power (PLUG) following strong Q1 results and improving fundamentals. BofA and BMO both raised their price targets for Linde (LIN), reflecting positive sentiment towards the company's hydrogen and industrial gas segments.
Barclays upgraded Ariston Group, citing a recent pullback in its share price and raising its price target. Conversely, Mizuho downgraded Consolidated Edison, arguing that its discount is no longer compelling due to limited upside potential. Rosenblatt analyst Jonathan Stearns increased Hive Digital's stock price target to $14, attributing it to growth in the high-performance computing sector. KeyBanc upgraded Murphy Oil's stock rating, emphasizing its exposure to oil prices. Deutsche Bank initiated coverage of Onto Innovation with a Buy rating, citing its growth outlook. Mizuho lowered its stock price target for Cooper Companies due to concerns about the market outlook and increased its price target for Lam Research. Freedom Broker raised ServiceTitan's stock price target, driven by advancements in artificial intelligence. Finally, Mizuho Financial Group reaffirmed its Neutral rating on Comstock Resources, Inc., without specifying a price target.