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Analysts are Increasing Price Targets of These 10 Stocks

In this article, we will take a look at the 10 stocks receiving price-target hikes from analysts. If you want to see more such stocks on the list, go directly to Analysts are Increasing Price Targets of These 5 Stocks.

The key U.S. stock averages rebounded on Tuesday Morning. The surge was partly led by better-than-expected earnings of companies like Best Buy Co., Inc. (NYSE:BBY), Agilent Technologies, Inc. (NYSE:A) and Dell Technologies Inc. (NYSE:DELL). As of 01:23 PM ET, S&P 500 was up 0.96 percent, Nasdaq Composite was positive 0.83 percent and Dow Jones Industrial Average rose 0.89 percent.

Meanwhile, analysts improved their price targets for Agilent Technologies, Inc. (NYSE:A) and Dell Technologies Inc. (NYSE:DELL) after they easily beat financial expectations for their respective quarters.

In addition, Walgreens Boots Alliance, Inc. (NASDAQ:WBA) and Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), also came into the spotlight on Tuesday after analysts lifted their price targets for them. Check out the remaining articles to find the reason behind the updated price targets for these stocks.

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10. Urban Outfitters, Inc. (NASDAQ:URBN)

Number of Hedge Fund Holders: 21

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) rose nearly five percent in pre-market trading Tuesday after Baird increased its price target for the lifestyle retailer from $23 per share to $26 per share.

The updated price target follows the fiscal third-quarter results of Urban Outfitters, Inc. (NASDAQ:URBN). The company reported earnings of 40 cents per share, marginally below the consensus of 42 cents per share. On the bright side, revenue for the quarter rose 3.9 percent on a year-over-year basis to $1.18 billion, topping estimates of $1.15 billion.

Speaking on the results, CEO of Urban Outfitters, Inc. (NASDAQ:URBN), Richard A. Hayne, said in a statement:

“We are pleased to announce record Q3 sales fueled by strong ‘comps’ at the Anthropologie and Free People brands. As we approach the all-important Black Friday/Cyber Monday weekend, we are encouraged by sales quarter-to-date.”

9. Foot Locker, Inc. (NYSE:FL)

Number of Hedge Fund Holders: 24

Shares of Foot Locker, Inc. (NYSE:FL) rose nearly four percent on Monday, November 21, after receiving a price-target hike from Citi. The research firm lifted its price target for the sportswear and footwear retailer from $33 per share to $38 per share following its better-than-expected Q3 earnings and improved full-year outlook.

Foot Locker, Inc. (NYSE:FL) recently reported adjusted earnings of $1.27 per share for its fiscal third quarter, beating the consensus of $1.11 per share. In addition, the quarterly revenue of $2.17 billion was also above the consensus of $2.09 billion.

For the full year, Foot Locker, Inc. (NYSE:FL) now expects adjusted earnings in the range of $4.42 – $4.50 per share, up from its prior guidance between $4.25 – $4.45 per share. In addition, revenue for the same period is now expected to drop 4 – 5 percent versus its earlier forecast calling for a decline of 6 – 7 percent.

8. Toll Brothers, Inc. (NYSE:TOL)

Number of Hedge Fund Holders: 32

Shares of Toll Brothers, Inc. (NYSE:TOL) rose before the opening bell today after JPMorgan turned bullish on the luxury homes builder.

The research firm upgraded Toll Brothers, Inc. (NYSE:TOL) from “Neutral” to “Overweight” and raised its price target for the stock from $47 per share to $58 per share.

JPMorgan analyst Michael Rehaut believes Toll Brothers, Inc. (NYSE:TOL) trades at a discount compared to its homebuilding rivals. Moving forward, Rehaut is shifting to a positive stance on the homebuilder stocks as he believes the group offer a favorable risk/reward.

7. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)

Number of Hedge Fund Holders: 38

Truist analyst Patrick Scholes improved his price target for Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) from $19 per share to $21 per share on Tuesday, November 22. The analyst updated the price target as a part of a broader research note on cruise line stocks.

Scholes, who maintains a “Buy” rating for Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), cited positive trends, such as an expected improvement in pricing in the current quarter over the comparable period of 2019. He also referred to a surge in booking pace for Q4 without a significant drop in pricing.

Like Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), Best Buy Co., Inc. (NYSE:BBY), Agilent Technologies, Inc. (NYSE:A) and Dell Technologies Inc. (NYSE:DELL) also came into the limelight today.

6. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Number of Hedge Fund Holders: 39

Shares of Walgreens Boots Alliance, Inc. (NASDAQ:WBA) rose over two percent this morning after receiving an upgrade from Cowen. The research firm raised its ratings for the healthcare giant from “Market Perform” to “Outperform” and increased its price target from $43 per share to $54 per share.

Cowen analyst Charles Rhyee was primarily moved by Walgreens’ renewed focus on healthcare services. Rhyee referred to the acquisition of health-at-home solutions provider CareCentrix and the recent investment in primary care clinics operator VillageMD.

Last week, J.P. Morgan analyst Lisa Gill also turned bullish on Walgreens Boots Alliance, Inc. (NASDAQ:WBA). She upgraded WBA stock from “Neutral” to “Overweight,” citing expected gains from its healthcare strategy.

Gill sees Walgreens Boots Alliance, Inc. (NASDAQ:WBA) growing its share in the retail pharmacy market in the long term. The analyst also pointed towards WBA’s cost transformation plan, which has created a profit tailwind for the company.

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Disclosure: None. Analysts are Increasing Price Targets of These 10 Stocks is originally published on Insider Monkey.

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