Wall Street's top analysts came out swinging Monday with a flurry of rating changes that paint an interesting picture of where the smart money sees opportunity and risk. From memory chips to chocolate bars, here's the full rundown of who's getting love and who's facing skepticism.
The Semiconductor Star
Micron Technology Inc (MU) grabbed headlines with Wedbush analyst Matt Bryson boosting the price target from $220 to $300 while maintaining an Outperform rating. That's a hefty vote of confidence for the memory chip maker, whose shares closed at $241.14 on Friday. If Bryson's target proves accurate, we're looking at roughly 24% upside from here.
Consumer Goods Get Sweet on Hershey
Morgan Stanley analyst Megan Alexander had kind words for Hershey Co (HSY), upgrading the chocolate giant from Equal-Weight to Overweight and raising the price target from $195 to $211. The stock closed Friday at $181.83, suggesting Alexander sees meaningful room to run for the iconic American candy maker.
Chemicals and Materials Mixed
BMO Capital analyst John McNulty delivered a split decision on chemical companies. Ashland Inc (ASH) got the thumbs up with an upgrade from Market Perform to Outperform and a price target jump from $61 to $71. The stock finished Friday at $59.15, meaning McNulty is projecting about 20% upside.
On the flip side, McNulty wasn't as enthusiastic about LyondellBasell Industries NV (LYB), downgrading it from Market Perform to Underperform and slashing the price target from $48 to $36. With shares settling at $44.39 on Friday, this represents one of the few bearish calls in an otherwise bullish batch of ratings.
Real Estate and Hospitality
CBRE Group Inc (CBRE) saw Keefe, Bruyette & Woods analyst Jade Rahmani upgrade the commercial real estate services firm from Market Perform to Outperform, hiking the price target from $168 to $185. The stock closed at $159.58 Friday.
In hospitality, Goldman Sachs analyst Lizzie Dove elevated Hilton Hotels Corporation (HLT) from Neutral to Buy, raising the price target from $285 to $317. Hilton shares finished the week at $280.24, putting them tantalizingly close to Goldman's old target and suggesting Dove sees more gains ahead.
Technology Sector Shake-Up
Perhaps the most dramatic turnaround came for Akamai Technologies Inc (AKAM). Keybanc analyst Jackson Ader flipped from Underweight to Overweight and nearly doubled the price target from $66 to $115. That's a massive reassessment of the content delivery network company, whose shares closed at $85.88 on Friday.
Healthcare Sector Upgrades
The pharmaceutical sector saw multiple bullish moves. B of A Securities analyst Tim Anderson upgraded Bristol-Myers Squibb Co (BMY) from Neutral to Buy, raising the price target from $52 to $61. The stock closed at $52.41 Friday, just above the old target.
Anderson also maintained his Buy rating on Merck & Co Inc (MRK) while boosting the price target from $105 to $120. Merck shares finished the week at $100.30.
Biotechnology Optimism
HC Wainwright & Co. analyst Andrew S. Fein showed strong conviction in DBV Technologies SA - ADR (DBVT), maintaining a Buy rating while dramatically increasing the price target from $20 to $35. The biotech company's shares settled at $18.37 on Friday, suggesting Fein sees nearly 90% upside potential.
What It All Means
The overwhelming theme here is bullish optimism across diverse sectors. Out of ten rating changes, only one was a downgrade. That suggests analysts are finding value in the current market environment, whether in established players like Hershey and Merck or growth stories like Micron and Akamai. Of course, analyst targets are educated guesses, not guarantees. But when multiple major firms start raising their expectations simultaneously, it's worth paying attention to where they're placing their bets.