Wall Street analysts spent their Friday reshuffling expectations across a diverse mix of stocks, delivering everything from eye-popping target increases to more sobering downgrades. Here's what the analyst crowd had to say about ten companies making waves this week.
BTIG made perhaps the most striking call of the day on Hudson Pacific Properties, Inc. (HPP), raising its price target from $4.75 all the way to $26. Analyst Thomas Catherwood kept his Buy rating intact on the real estate play, which closed Wednesday at $10.83. That new target implies substantial upside if BTIG's thesis plays out.
Over in pharmaceuticals, Ascendiant Capital bumped up its target for NRx Pharmaceuticals, Inc. (NRXP) from $47 to $48. Analyst Edward Woo maintained a Buy rating on the biotech stock, which settled at $2.71 on Wednesday. The massive gulf between the current price and the price target reflects the high-risk, high-reward nature of early-stage pharmaceutical investing.
Not all the news was rosy, though. Corcept Therapeutics Incorporated (CORT) caught downgrades from two separate firms. HC Wainwright & Co. slashed its price target from $145 to $90, with analyst Swayampakula Ramakanth maintaining a Buy rating nonetheless. Later, Canaccord Genuity followed suit, cutting their target from $140 to $99 while analyst Edward Nash also stuck with a Buy rating. The stock closed Wednesday at $34.80, well below even the reduced targets.
Vertiv Holdings Co (VRT) got a double dose of good news from Barclays. Analyst Julian Mitchell not only raised the price target from $181 to $200, but also upgraded the stock from Equal-Weight to Overweight. Vertiv shares finished Wednesday's session at $162.01, suggesting Mitchell sees more room to run for the data center infrastructure company.
Stephens & Co. had a busy day with multiple calls. The firm raised its price target on Digi International Inc. (DGII) from $50 to $55, with analyst Tommy Moll maintaining an Overweight rating. Digi International closed at $43.29 on Wednesday. Stephens also boosted its outlook on Glaukos Corporation (GKOS), lifting the target from $115 to $145 while analyst George Sellers kept an Overweight rating. Glaukos finished the day at $112.91.
In agricultural biotech, Bioceres Crop Solutions Corp. (BIOX) saw Canaccord Genuity trim its price target from $2.25 to $2. Analyst Austin Moeller maintained a Hold rating on the stock, which settled at $1.31 on Wednesday.
The headline-grabbing call came from Argus Research on Ulta Beauty, Inc. (ULTA). Analyst Deborah Ciervo raised the price target from $650 to $700 while maintaining a Buy rating. With Ulta Beauty shares closing at $605.01 on Wednesday, that new target represents approximately 16% upside potential. The beauty retailer has been navigating a competitive landscape, and this bullish call suggests Argus sees the company successfully managing those challenges.
Rounding out the list, Jefferies lifted its price target on Baidu, Inc. (BIDU) from $159 to $181. Analyst Thomas Chong maintained a Buy rating on the Chinese tech giant, which closed at $130.66 on Wednesday. The increased target reflects continued optimism about Baidu's artificial intelligence initiatives and its core search business.
These analyst moves reflect the constant recalibration Wall Street does as companies report earnings, market conditions shift, and new information emerges. Whether these price targets pan out is anyone's guess, but they offer a window into how professional analysts are thinking about these companies' prospects in the months ahead.