In this article, we discuss the 5 stocks receiving price-target hike from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Increasing Price Targets of These 10 Stocks.
05. Enphase Energy, Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 63
B. Riley has raised its price target on Enphase Energy, Inc. (NASDAQ:ENPH) from $242 to $247 while maintaining a Neutral rating on the shares. The analyst notes that uncertainty in the U.S. residential market following five years of strong growth has led to investor caution towards the space, resulting in divergence in company performance across the group. The firm believes that commentary around demand, improvements in supply chains, and project delays are likely key to sentiment on earnings calls as a whole. However, the firm would focus investor interest toward asset ownership business models, where it believes “depressed valuations look quite attractive.” The analyst conveyed this information on April 25 to investors in a research note.
04. HCA Healthcare, Inc. (NYSE:HCA)
Number of Hedge Fund Holders: 64
On April 25, Wells Fargo analyst Stephen Baxter raised the price target on HCA Healthcare, Inc. (NYSE:HCA) from $243 to $275 and maintained an Equal Weight rating on the shares. The firm notes that HCA Healthcare, Inc. (NYSE:HCA) results were generally strong, and the company seems to be positioned for attractive EBITDA growth in 2024 and 2025.
Renaissance Large Cap Growth Strategy made the following comment about HCA Healthcare, Inc. (NYSE:HCA) in its Q4 2022 investor letter:
“Lastly, HCA Healthcare, Inc. (NYSE:HCA) was another contributor. The company is seeing solid improvements in surgical volumes and overall healthcare usage. Meanwhile, labor expenses, which have weighed heavily on operating margins, appear to be reversing as extra headcount brought on to accommodate spikes in patient volumes due to COVID is finally subsiding.”
03. Walmart Inc. (NYSE:WMT)
Number of Hedge Fund Holders: 66
Walmart Inc. (NYSE:WMT) is the world’s largest retailer. It has more than ten thousand stores all over the world and more than two million employees. The firm is known for large warehouses, alongside supermarkets, hypermarkets, and cash and carry stores. On April 25, KeyBanc analyst Bradley Thomas raised the price target on Walmart Inc. (NYSE:WMT) from $170 to $175 and maintained an Overweight rating on the shares after conducting investor meetings with senior management. The firm believes that Walmart Inc. (NYSE:WMT) has the most compelling growth outlook of the past 20 years, supported by share gains in key categories, accelerating growth from margin accretive businesses, and cost and efficiency benefits from automation. Furthermore, KeyBanc sees many long-term drivers ahead.
02. PepsiCo, Inc. (NASDAQ:PEP)
Number of Hedge Fund Holders: 70
On April 25, Morgan Stanley increased its price target on PepsiCo, Inc. (NASDAQ:PEP) from $200 to $210 and maintained an Overweight rating on the shares after the company’s Q1 earnings release. According to the analyst, PepsiCo, Inc. (NASDAQ:PEP) results included a significant EPS beat, strong organic sales, and an increase in FY23 guidance. The analyst also praised PepsiCo, Inc. (NASDAQ:PEP) robust pricing power, limited demand elasticity, recent business reinvestments, and ongoing emphasis on productivity.
01. Biogen Inc. (NASDAQ:BIIB)
Number of Hedge Fund Holders: 75
On April 25, Morgan Stanley increased the price target on Biogen Inc. (NASDAQ:BIIB) from $349 to $371 and maintained an Overweight rating on the shares following the company’s Q1 results. The analyst reportedly used a discounted cash flow analysis with a 10% discount rate and a 2% terminal growth rate to derive the new price target.
ClearBridge Investments made the following comment about Biogen Inc. (NASDAQ:BIIB) in its Q3 2022 investor letter:
“Biogen Inc. (NASDAQ:BIIB) was the leading contributor among several biopharma names, boosted by positive, pivotal clinical data for its next-generation Alzheimer’s treatment Lecanemab. In a pivotal trial, the drug proved safe and efficacious in slowing progression of Alzheimer’s disease.”
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