On December 5, 2023, several analysts made notable adjustments to their price targets for a variety of stocks, reflecting changing expectations in the market. Key changes included increases for technology and financial companies, while some firms experienced reductions in their price targets.
Significant Price Target Increases
Alcoa (NYSE:AA) saw its price target raised from $35.00 to $45.00 by JPMorgan Chase & Co., which maintains a neutral rating on the stock. Apple (NASDAQ:AAPL) benefited from a target increase by CLSA, moving from $265.00 to $330.00, leading to an outperform rating.
In the real estate sector, Alexandria Real Estate Equities (NYSE:ARE) had its target price trimmed slightly by Cantor Fitzgerald, from $52.00 to $48.00, still holding a neutral rating. Conversely, Broadstone Net Lease (NYSE:BNL) experienced a minor decrease in its target from $22.00 to $21.00 by BTIG Research, which continues to recommend a buy.
Among healthcare stocks, Cooper Companies (NASDAQ:COO) had multiple analysts raise their price targets. Robert W. Baird increased it from $85.00 to $98.00, while Wells Fargo & Company adjusted it from $72.00 to $82.00. Additionally, JPMorgan Chase & Co. raised its price target for Cooper from $66.00 to $78.00, maintaining a neutral rating.
In the tech sector, CrowdStrike (NASDAQ:CRWD) saw a significant boost from Argus, which raised its target from $540.00 to $600.00 and maintains a buy recommendation.
Price Target Reductions
On the other hand, some stocks faced downward adjustments. Carrier Global (NYSE:CARR) had its price target lowered by Royal Bank Of Canada from $75.00 to $70.00, although the firm still holds an outperform rating.
In the case of Coinbase Global (NASDAQ:COIN), The Goldman Sachs Group, Inc. reduced its target from $314.00 to $294.00, maintaining a neutral stance. Similarly, Docusign (NASDAQ:DOCU) suffered multiple price target cuts from various analysts, including a drop from $102.00 to $82.00 by Bank of America Corporation and a reduction to $75.00 by both Robert W. Baird and Piper Sandler.
Further reductions were noted for PayPal (NASDAQ:PYPL), with Deutsche Bank Aktiengesellschaft cutting its price target from $75.00 to $65.00, while maintaining a hold rating.
These adjustments highlight the dynamic nature of stock valuations and reflect analysts’ ongoing assessments based on market conditions. Investors should remain aware of these changes as they can influence trading strategies and investment decisions.
