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Top Analyst Calls: Broadcom Price Target Jumps 14% While ServiceTitan Gets Trimmed

MarketDash Editorial Team
3 days ago
Wall Street analysts shuffled their price targets Friday, with Broadcom getting a notable boost to $435 from Oppenheimer. Meanwhile, ServiceTitan saw its target cut despite maintaining a bullish rating, and Ciena received an eye-popping upgrade to $240.

Wall Street analysts rolled out a fresh batch of rating changes and price target adjustments Friday, covering everything from semiconductor giants to beauty retailers. The moves paint an interesting picture of where the smart money sees opportunities and risks heading into the weekend.

Semiconductor Sector Gets Some Love

The headline grabber is Broadcom Inc (AVGO), which received a price target bump from Oppenheimer analyst Rick Schafer. He lifted his target to $435 from $400 while maintaining an Outperform rating. That new target implies upside of more than 14% from Thursday's closing price of $381.03. Not too shabby for a company that's already trading at nearly $400 per share.

Meanwhile, Ciena Corp (CIEN) got what might be the most aggressive upgrade of the day. Needham analyst Ryan Koontz nearly doubled his price target, jumping from $130 all the way to $240 while keeping a Buy rating. The stock closed Thursday at $195.73, so if Koontz is right, there's still meaningful upside ahead for the networking equipment maker.

Software and Tech Services Mixed

ServiceTitan Inc (TTAN) had a less cheerful morning. Piper Sandler analyst Hannah Rudoff cut the price target from $155 to $140, though she maintained an Overweight rating. The stock closed Thursday at $95.59, which means it has plenty of room to run even with the reduced target. Still, a price target cut is never ideal optics.

On the brighter side, Samsara Inc (IOT) picked up a boost from BMO Capital. Analyst Daniel Jester raised his price target from $47 to $50 while maintaining an Outperform rating. The stock settled at $40.71 on Thursday, suggesting Jester sees solid upside potential ahead.

Rubrik Inc (RBRK) also got a bump, with Rosenblatt analyst Blair Abernethy lifting the price target from $115 to $120 while keeping a Buy rating. Shares settled at $70.43 on Thursday, implying substantial upside if the target proves accurate.

Healthcare and Medical Devices Climbing

The healthcare sector saw multiple upgrades. Cooper Companies Inc (COO) received a price target increase from Needham analyst David Saxon, who raised his target from $94 to $100 while maintaining a Buy rating. The stock closed at $77.03 on Thursday.

Edwards Lifesciences Corp (EW) also moved higher in analysts' eyes. BTIG analyst Marie Thibault increased the price target from $100 to $103 while maintaining a Buy rating. Edwards Lifesciences shares closed at $85.78 on Thursday.

Retail Sector Shows Divergence

The retail calls were all over the map. Ulta Beauty Inc (ULTA) got a nice vote of confidence from JP Morgan analyst Christopher Horvers, who raised his price target from $606 to $647 while maintaining an Overweight rating. The stock closed at $533.95 on Thursday, so there's still upside to the target if Horvers is correct.

Dollar General Corp (DG) saw BMO Capital analyst Kelly Bania raise the price target from $115 to $130 while maintaining a Market Perform rating. Shares closed at $125.29 on Thursday, meaning the stock is already trading above the old target and near the new one.

Not everyone in retail got good news, though. Sportsman's Warehouse Holdings Inc (SPWH) took a hit from Baird analyst Peter Benedict, who slashed the price target from $3.5 to $2 while maintaining a Neutral rating. The stock closed at $2.45 on Thursday, already sitting between the old and new targets.

What It All Means

These analyst calls show Wall Street is still finding pockets of opportunity despite elevated valuations in many sectors. The semiconductor and healthcare spaces seem particularly favored based on these upgrades, while retail remains a mixed bag. The Ciena upgrade stands out as especially bullish, while the Sportsman's Warehouse downgrade reflects ongoing challenges in the sporting goods retail space.

As always, price targets are just one data point. They represent where analysts think stocks could trade within the next 12 to 18 months under certain assumptions, but they're far from guarantees. Still, when respected analysts at major firms make significant changes, it's worth paying attention to their reasoning.

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Top Analyst Calls: Broadcom Price Target Jumps 14% While ServiceTitan Gets Trimmed

MarketDash Editorial Team
3 days ago
Wall Street analysts shuffled their price targets Friday, with Broadcom getting a notable boost to $435 from Oppenheimer. Meanwhile, ServiceTitan saw its target cut despite maintaining a bullish rating, and Ciena received an eye-popping upgrade to $240.

Wall Street analysts rolled out a fresh batch of rating changes and price target adjustments Friday, covering everything from semiconductor giants to beauty retailers. The moves paint an interesting picture of where the smart money sees opportunities and risks heading into the weekend.

Semiconductor Sector Gets Some Love

The headline grabber is Broadcom Inc (AVGO), which received a price target bump from Oppenheimer analyst Rick Schafer. He lifted his target to $435 from $400 while maintaining an Outperform rating. That new target implies upside of more than 14% from Thursday's closing price of $381.03. Not too shabby for a company that's already trading at nearly $400 per share.

Meanwhile, Ciena Corp (CIEN) got what might be the most aggressive upgrade of the day. Needham analyst Ryan Koontz nearly doubled his price target, jumping from $130 all the way to $240 while keeping a Buy rating. The stock closed Thursday at $195.73, so if Koontz is right, there's still meaningful upside ahead for the networking equipment maker.

Software and Tech Services Mixed

ServiceTitan Inc (TTAN) had a less cheerful morning. Piper Sandler analyst Hannah Rudoff cut the price target from $155 to $140, though she maintained an Overweight rating. The stock closed Thursday at $95.59, which means it has plenty of room to run even with the reduced target. Still, a price target cut is never ideal optics.

On the brighter side, Samsara Inc (IOT) picked up a boost from BMO Capital. Analyst Daniel Jester raised his price target from $47 to $50 while maintaining an Outperform rating. The stock settled at $40.71 on Thursday, suggesting Jester sees solid upside potential ahead.

Rubrik Inc (RBRK) also got a bump, with Rosenblatt analyst Blair Abernethy lifting the price target from $115 to $120 while keeping a Buy rating. Shares settled at $70.43 on Thursday, implying substantial upside if the target proves accurate.

Healthcare and Medical Devices Climbing

The healthcare sector saw multiple upgrades. Cooper Companies Inc (COO) received a price target increase from Needham analyst David Saxon, who raised his target from $94 to $100 while maintaining a Buy rating. The stock closed at $77.03 on Thursday.

Edwards Lifesciences Corp (EW) also moved higher in analysts' eyes. BTIG analyst Marie Thibault increased the price target from $100 to $103 while maintaining a Buy rating. Edwards Lifesciences shares closed at $85.78 on Thursday.

Retail Sector Shows Divergence

The retail calls were all over the map. Ulta Beauty Inc (ULTA) got a nice vote of confidence from JP Morgan analyst Christopher Horvers, who raised his price target from $606 to $647 while maintaining an Overweight rating. The stock closed at $533.95 on Thursday, so there's still upside to the target if Horvers is correct.

Dollar General Corp (DG) saw BMO Capital analyst Kelly Bania raise the price target from $115 to $130 while maintaining a Market Perform rating. Shares closed at $125.29 on Thursday, meaning the stock is already trading above the old target and near the new one.

Not everyone in retail got good news, though. Sportsman's Warehouse Holdings Inc (SPWH) took a hit from Baird analyst Peter Benedict, who slashed the price target from $3.5 to $2 while maintaining a Neutral rating. The stock closed at $2.45 on Thursday, already sitting between the old and new targets.

What It All Means

These analyst calls show Wall Street is still finding pockets of opportunity despite elevated valuations in many sectors. The semiconductor and healthcare spaces seem particularly favored based on these upgrades, while retail remains a mixed bag. The Ciena upgrade stands out as especially bullish, while the Sportsman's Warehouse downgrade reflects ongoing challenges in the sporting goods retail space.

As always, price targets are just one data point. They represent where analysts think stocks could trade within the next 12 to 18 months under certain assumptions, but they're far from guarantees. Still, when respected analysts at major firms make significant changes, it's worth paying attention to their reasoning.