ADVFN Logo
Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

Market Analysts Shuffle Ratings: Key Upgrades and Downgrades in the Latest Stock Assessments

Bruno T
Analysis & Opinion
March 19 2024 2:54AM


In the whirlwind of market shifts and strategic recalibrations, several notable companies have seen changes in their stock ratings and price targets from leading financial analysts. Here’s a roundup of some key adjustments:

3M Company received a vote of confidence from Barclays, as the firm upgraded its rating to ‘overweight’ from ‘equal weight’ and lifted its price target from $111 to $126. This adjustment reflects a more bullish outlook on the conglomerate’s prospects.

American Tower Corporation experienced a slight shift in sentiment from ARC Independent Research, which downgraded the stock to ‘hold’ from ‘buy.’ However, the firm nudged its price target up from $210 to $212, suggesting a stable outlook despite the downgrade.

Fifth Third Bancorp saw a downgrade from Stephens, moving from ‘overweight’ to ‘equal weight,’ with a set target price of $41. This suggests a recalibration of expectations for the financial institution.

MongoDB, Inc. faced a notable downgrade from Redburn Atlantic, moving from ‘neutral’ to ‘sell’ with a significant price target cut from $410 to $295. This suggests increasing skepticism about the database platform’s short-term growth prospects.

CRH Plc remained steady in Morgan Stanley’s view, maintaining a ‘market weight’ rating while receiving a target price boost from $68 to $83. This indicates a positive shift in valuation expectations for the building materials company.

Micron Technology, Inc. continues to hold a ‘neutral’ recommendation from Baird, with an optimistic increase in the price target from $78 to $115, signaling expected stability and potential growth in the semiconductor sector.

The Cooper Companies, Inc. enjoyed an upgrade from Redburn Atlantic, moving to ‘buy’ from ‘neutral,’ although the price target was adjusted downwards from $375 to $125, indicating a potential reassessment of the company’s valuation.

Nvidia Corporation stands out with an ‘overweight’ rating maintained by Cantor Fitzgerald, alongside a substantial increase in the target price from $900 to $1200, underscoring the high expectations for the tech giant, especially in the burgeoning AI market.

Snowflake Inc. faced a downgrade by Redburn Atlantic to ‘sell’ from ‘neutral,’ with a significant cut in the price target from $180 to $125, reflecting growing concerns over the cloud-based data-warehousing company’s valuation and growth trajectory.

These shifts in ratings and price targets reflect the dynamic nature of the market and the ongoing reassessment of companies’ future prospects by financial analysts.