In this article, we discuss the 5 stocks receiving price-target hike from Wall Street analysts. If you want to see more such stocks on the list, go directly to Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets.

05. Medtronic plc (NYSE:MDT)

Upside Potential: 23%

On August 23, UBS Group opted to revise its target for Medtronic plc (NYSE:MDT), a well-established player in medical technology. The newly adjusted target price has been altered from $79 to $82, suggesting the potential for an increase in the target valuation. Despite this alteration, UBS Group has upheld its “Sell” rating for the stock. This modification in the target price indicates that UBS Group envisions the possibility of Medtronic plc (NYSE:MDT) stock reaching the $82 mark within a specific timeframe. The “Sell” rating underscores UBS Group’s perspective that the company’s performance might not be in sync with favorable market trends. Their analysis suggests that it may not be an appealing choice for investment.

Appleseed Fund made the following comment about Medtronic plc (NYSE:MDT) in its Q1 2023 investor letter:

“During the most recent quarter, Appleseed Fund added three new equity holdings: Medtronic plc (NYSE:MDT), Stanley Black & Decker (SWK), and Synovus Financial (SNV). Medtronic is the world’s largest device manufacturer, and it holds the number one or number two market share in most of its product segments. Medtronic’s business is heavily weighted towards complicated in-patient procedures, which are typically quite profitable. Industry dynamics are quite attractive with an aging global population and the growth of improved healthcare in emerging markets; furthermore, most of its segments are highly concentrated with just 2-3 players that split each segment’s market share, affording the key participants with significant economies of scale and pricing power. The Company has been recently addressing several temporary headwinds including a strong dollar, inflation, a delayed recovery in surgical volumes from the coronavirus pandemic, and supply chain issues. Once these issues reach the rearview mirror, the Company’s growth and margin expansion plans should transform into reality.”

04. Antero Resources Corporation (NYSE:AR)

Upside Potential: 24%

The Goldman Sachs Group decided on August 23 to increase its target for Antero Resources Corporation (NYSE:AR), a company in the energy sector. The updated target price has been raised from $28 to $32, indicating the potential for an upward shift in the target valuation. The “Buy” rating for the stock remains unchanged. This adjustment in the target price signifies that The Goldman Sachs Group anticipates the potential for Antero Resources Corporation (NYSE:AR) stock to reach $32 within a specified period. The “Buy” rating continues to reflect The Goldman Sachs Group’s positive view on the company’s performance, indicating that they consider it a favorable investment choice.

Carillon Eagle Mid Cap Growth Fund made the following comment about Antero Resources Corporation (NYSE:AR) in its Q1 2023 investor letter:

“Antero Resources Corporation (NYSE:AR) is a natural gas exploration and production company with operations in the Appalachian Basin. Overall natural gas storage inventories recently have reached slightly elevated levels, due largely to the milder than average winter experienced across the globe. This dynamic has weighed on benchmark natural gas prices, and in turn has pressured Antero’s stock. Despite these current headwinds, we believe the company’s relatively low-cost operations, strong balance sheet, positive recent productivity trends, and ability to price its production at a premium to benchmark prices should position it well to weather the current choppy environment until the country’s liquified natural gas export capacity increases over the next several years.”

03. Baidu, Inc. (NASDAQ:BIDU)

Upside Potential: 34%

On August 23, Barclays chose to increase its target for Baidu, Inc. (NASDAQ:BIDU), a prominent Chinese technology company. The newly adjusted target price has been raised from $181 to $183, indicating the potential for a slight upward adjustment in the target valuation. Barclays has also maintained its “Overweight” rating for the stock. This change in the target price suggests that Barclays envisions the potential for Baidu, Inc. (NASDAQ:BIDU) stock to reach $183 within a specified period. The “Overweight” rating underscores Barclays’ positive perspective on the company’s performance, indicating that it is an attractive investment choice.

Here is what Tweedy, Browne has to say about Baidu, Inc. (NASDAQ:BIDU) in its Q1 2023 investor letter:

“Many, if not most, stocks held in the Funds’ portfolios performed quite well in the first quarter. This was particularly true for the Funds’ non-US equity holdings, many of which have come into their own over the last two quarters, despite years of underperformance versus their US counterparts – a welcome shift given that our Funds’ portfolios have been somewhat non-US-centric in terms of their portfolio allocations for well over a decade. The Funds also received a long overdue boost from their Chinese and Hong Kong-based holdings in the wake of China’s reopening and the government’s signaling of a relaxation of their interventionist policies. This included strong returns in Baidu, Inc. (NASDAQ:BIDU) among others.”

02. Amazon.com, Inc. (NASDAQ:AMZN)

Upside Potential: 46%

Loop Capital’s analyst, Rob Sanderson, expressed an optimistic outlook on Amazon.com, Inc. (NASDAQ:AMZN) and has consequently raised the price target for the company. The price target has been increased by 11.1%, moving from $180 to $200 as of August 23. Despite this adjustment, Rob Sanderson has chosen to uphold the “Strong Buy” rating for the stock. This adjustment in the price target reflects Rob Sanderson’s belief that Amazon.com, Inc. (NASDAQ:AMZN) stock has the potential to reach $200 within a specific timeframe. The “Strong Buy” rating emphasizes Rob Sanderson’s positive stance on the company’s performance, suggesting they consider it a highly favorable investment choice.

Mairs & Power Growth Fund made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its second quarter 2023 investor letter:

“Regarding stock selection in the first half, Nvidia (NVDA) was a massive outperformer, up 189.54%. Amazon.com, Inc. (NASDAQ:AMZN) and Microsoft were also positive contributors, up 55.19% and 42.66%, respectively. All three stocks benefited from a renewed interest in growth stocks by investors in the first half of the year.

Amazon had an impressive first half of the year as well with growth out of its retail segment but slightly slower growth in its cloud business. Customers optimized workloads for existing capacity they were already paying for rather than adding incremental capacity in the current environment. We remain very excited about the opportunity for the company to reduce the labor needs of its retail segment through the use of technology and automation in the future.”

01. Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Upside Potential: 60%

On August 23, Eliana Merle, an analyst at UBS, increased the price target for Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), a pharmaceutical company. The updated price target has been raised by 6.7%, from $60 to $64, effective August 23, 2023. UBS has retained its “Buy” rating for the stock. This adjustment in the price target indicates Eliana Merle’s belief that Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) stock has the potential to reach $64 within a specified timeframe. The “Buy” rating signifies UBS’s positive perspective on the company’s performance, suggesting that they consider it a favorable investment opportunity.

You can also take a look at 10 Stocks That Will Change the Future and 15 Worst Performing Healthcare Stocks in 2023.