Wall Street analysts shifted their outlook on several notable companies Friday, with pharmaceutical giant Bristol-Myers Squibb leading the pack with a fresh bullish call. Here's what the top research shops are saying about five stocks making moves this morning.
Bristol-Myers Squibb Catches a Bid
Guggenheim analyst Seamus Fernandez upgraded Bristol-Myers Squibb Company (BMY) from Neutral to Buy and set a $62 price target. The stock closed Thursday at $51.20, meaning Fernandez sees meaningful upside ahead for the pharmaceutical company. It's a notable vote of confidence for a stock that's been under pressure.
Energy Sector Gets Mixed Signals
In the energy space, Keybanc analyst Sophie Karp turned positive on CenterPoint Energy Inc (CNP), upgrading the utility from Sector Weight to Overweight with a $41 price target. Shares finished Thursday at $37.33, suggesting Karp sees roughly 10% upside from current levels.
Meanwhile, Mizuho analyst Nitin Kumar upgraded PBF Energy Inc (PBF) from Underperform to Neutral, raising his price target from $31 to $38. The refiner closed at $30.81 on Thursday. It's not exactly a ringing endorsement, but moving from Underperform to Neutral signals Kumar thinks the worst may be behind the company.
Hospitality Sector Sees Rating Shifts
The hotel industry got some attention Friday as well. Jefferies analyst Jaina Mistry upgraded InterContinental Hotels Group PLC (IHG) from Hold to Buy. The stock closed Thursday at $136.27, and Mistry apparently sees enough opportunity to recommend investors actively buy shares rather than just hold what they've got.
On the flip side, JP Morgan analyst Daniel Politzer upgraded Choice Hotels International, Inc. (CHH) from Underweight to Neutral but simultaneously cut his price target from $102 to $95. Shares closed at $89.08 on Thursday. So while Politzer is less bearish than before, he's still not exactly bullish, and the reduced target suggests some caution about the company's near-term prospects.
What It All Means
These rating changes reflect shifting sentiment across multiple sectors. The Bristol-Myers upgrade stands out as the most aggressively bullish call of the bunch, while the moves in energy and hospitality suggest analysts are recalibrating expectations as market conditions evolve. As always, these are just opinions, but when respected analysts change their tune, it's worth paying attention to their reasoning.