Thursday brought a wave of analyst rating changes across Wall Street, with some notable shifts in sentiment on major names. Here's what the smart money is saying about ten stocks that caught analysts' attention.
The Big Winners
The most eye-catching move came from Cantor Fitzgerald on Alphabet Inc (GOOGL), where analyst Deepak Mathivanan flipped from Neutral to Overweight while boosting the price target from $310 to $370. That new target sits about 15% above where Alphabet closed Wednesday at $322.03, suggesting Mathivanan sees meaningful upside ahead for the tech giant.
General Motors Co (GM) got an even more aggressive vote of confidence from Piper Sandler. Analyst Alexander Potter upgraded the automaker from Neutral to Overweight and raised his price target from $66 all the way to $98. That's a massive jump, and with GM shares closing at $81.91 on Wednesday, Potter is clearly betting on continued momentum in Detroit's comeback story.
Airbnb Inc (ABNB) received what you might call a lukewarm embrace. Cantor Fitzgerald's Deepak Mathivanan upgraded the stock from Underweight to Neutral and increased the price target from $117 to $141. With Airbnb shares at $137.04, that's not exactly screaming upside, but moving from bearish to neutral is still a meaningful shift in perspective.
Over in real estate, Terreno Realty Corp (TRNO) caught Baird's attention. Analyst David Rodgers upgraded the industrial REIT from Neutral to Outperform and nudged the price target from $63 to $64. Terreno closed at $59.10, so Rodgers sees some room to run there.
On the biotech front, BTIG analyst Julian Harrison raised his price target on Abivax SA (ABVX) from $120 to $150 while maintaining a Buy rating. Abivax shares closed at $126.48 on Wednesday, putting them roughly halfway between the old and new targets.
The Downgrades
Not everyone had a good day. Intuit Inc (INTU) took a particularly hard hit from Wells Fargo. Analyst Michael Turrin downgraded the tax software giant from Overweight to Equal-Weight and slashed the price target from $840 to $700. That's a $140 haircut, and with Intuit settling at $651.15 on Wednesday, it suggests Wells Fargo thinks the stock has limited upside from current levels.
Ventyx Biosciences Inc (VTYX) faced a downgrade from Canaccord Genuity analyst Edward Nash, who moved from Buy to Hold and cut the price target from $16 to $14. The stock closed at $13.73, essentially right at the new target, suggesting Nash thinks the risk-reward is now balanced rather than skewed to the upside.
Potlatchdeltic Corp (PCH) also got the downgrade treatment. BMO Capital analyst Ketan Mamtora shifted from Outperform to Market Perform and reduced the price target from $51 to $45. With Potlatchdeltic shares at $40.00, there's still some implied upside, but Mamtora clearly expects more muted performance going forward.