In this article, we will discuss the 10 stocks whose price targets were recently raised by 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. NVIDIA Corporation (NASDAQ:NVDA)
Upside Potential: 22%
On May 7, analyst Toshiya Hari of Goldman Sachs increased the price target for NVIDIA Corporation (NASDAQ:NVDA), a technology company specializing in graphics, computing, and networking solutions, from $1,000 to $1,100. Hari also reiterated a Buy recommendation on the stock. Nvidia’s current market price stands at $911.35, which offers an upside potential of 22% following the upgrade. Goldman Sachs believes that NVIDIA Corporation (NASDAQ:NVDA) continues to trade at an attractive valuation in comparison to its peers, particularly given its rapid growth and the sustainable nature of its growth trends over the coming years. Analyst Hari sees opportunities for positive earnings per share revisions that could further drive Nvidia’s stock price upward. The current valuation of 35 times earnings is seen as a relative bargain, especially when compared to the stock’s historical premium over the past three years.
Hari’s optimism is bolstered by recent comments from major tech companies that suggest they will increase spending on AI infrastructure in 2025, building on an already significant level of investment in 2024. This trend plays directly into NVIDIA Corporation (NASDAQ:NVDA) strengths, as the company is a leading provider of AI technology solutions globally. Nvidia’s strategic position in delivering advanced graphics and computing solutions both domestically and internationally positions it to benefit from the growing demand for AI infrastructure. Investors can expect the company’s performance to continue to thrive, given the robust trends in the technology sector and NVIDIA Corporation (NASDAQ:NVDA) capacity to capitalize on them.
04. ServiceNow, Inc. (NYSE:NOW)
Upside Potential: 24%
On May 7, Baird analyst Rob Oliver reaffirmed his Outperform rating on ServiceNow, Inc. (NYSE:NOW), a technology company specializing in AI-powered business transformation, while raising the price target from $870 to $885. Given the stock’s current market price of $719.91, the new target represents an upside potential of 24%. The upgrade from Baird comes in light of ServiceNow, Inc. (NYSE:NOW) ongoing growth and strategic partnerships, particularly the recently announced collaboration with Genesys at the company’s annual customer and partner event, Knowledge 2024. Genesys, a global leader in AI-powered experience orchestration, and ServiceNow are joining forces to enhance both customer and employee experiences.
The partnership will integrate the Genesys Cloud™ platform with ServiceNow Customer Service Management (CSM) to create Unified Experience, an AI-driven solution that aims to transform service delivery for organizations worldwide. This collaboration is poised to strengthen ServiceNow’s market position and expand its range of innovative offerings. ServiceNow, Inc. (NYSE:NOW) focus on leveraging AI for business transformation, combined with its recent strategic partnership, positions it for continued success in the technology industry. This, along with the significant upside potential from the current market price, makes ServiceNow an attractive option for investors looking to capitalize on the company’s growth and future prospects.
03. Moderna, Inc. (NASDAQ:MRNA)
Upside Potential: 25%
On May 7, UBS Group raised its price target for Moderna, Inc. (NASDAQ:MRNA), a leading biotechnology company, from $143 to $151 while maintaining a Buy rating on the stock. Moderna’s current market price stands at $122.19, presenting an upside potential of 25% following the upgrade. Moderna is known for its groundbreaking work in the development and commercialization of messenger RNA (mRNA) therapeutics and vaccines for a variety of medical conditions, including infectious diseases, immuno-oncology, rare diseases, autoimmune disorders, and cardiovascular diseases. The company’s global presence spans across the United States, Europe, and other international markets.
UBS’s upgraded price target reflects the firm’s confidence in Moderna, Inc. (NASDAQ:MRNA) ability to capitalize on its innovative research and development pipeline. Moderna, Inc. (NASDAQ:MRNA) focus on mRNA technology positions it at the forefront of medical advancements, particularly given the growing interest in mRNA-based therapies and vaccines. Investors may find Moderna, Inc. (NASDAQ:MRNA) growth potential and strategic positioning in the biotechnology industry appealing. With the company’s robust pipeline and its commitment to expanding the applications of mRNA technology, Moderna is poised to make significant strides in addressing unmet medical needs, making it a strong investment opportunity in the biotech space.
02. Exxon Mobil Corporation (NYSE:XOM)
Upside Potential: 31%
On May 7, UBS Group raised its price target for Exxon Mobil Corporation (NYSE:XOM), a major energy company, from $150 to $152 while maintaining a Buy rating in a research report. ExxonMobil’s current market price is $116.58, indicating an upside potential of 31% following the upgrade. The company’s recent addition of Maria Jelescu Dreyfus to its board highlights its focus on strategic growth and financial stability, elements that are key for investors. ExxonMobil’s market capitalization of $458.26 billion and forward-looking P/E ratio of 13.16 demonstrate its strong market position and potential for sustained profitability. Exxon Mobil Corporation (NYSE:XOM) consistent dividend track record is a notable aspect for investors, as the company has raised its dividend for 41 consecutive years and maintained dividend payments for an impressive 54 years. This level of consistency underlines ExxonMobil’s commitment to providing returns to shareholders, even amid the challenges and fluctuations inherent in the energy sector. In addition to its dividend reliability, ExxonMobil’s stock is known for its low price volatility, making it an appealing choice for investors seeking stability in their portfolios. Given the company’s resilience and long-standing history in the industry, Exxon Mobil Corporation (NYSE:XOM) remains a solid investment option for those interested in the energy market.
01. Pliant Therapeutics, Inc. (NASDAQ:PLRX)
Upside Potential: 242%
On May 7, Oppenheimer maintained its Outperform rating on Pliant Therapeutics, Inc. (NASDAQ:PLRX), a biopharmaceutical company, while raising the price target from $47 to $48. With the stock’s current market price at $13.44, the new price target suggests an upside potential of 242%. Pliant Therapeutics, Inc. (NASDAQ:PLRX) specializes in the discovery, development, and commercialization of innovative treatments for fibrosis and related diseases in the United States. The company’s focus on these complex medical conditions positions it as a key player in the clinical stage biopharmaceutical industry. The decision by Oppenheimer analyst Jeff Jones to raise the price target reflects confidence in Pliant Therapeutics, Inc. (NASDAQ:PLRX) ability to advance its pipeline of novel therapies for fibrosis, a challenging and often debilitating medical condition. The company’s commitment to cutting-edge research and development could potentially lead to breakthroughs in the treatment of fibrosis, offering substantial growth opportunities. Investors may find the significant upside potential attractive, especially given the company’s strategic focus and the growing need for effective therapies in the field of fibrosis. As Pliant Therapeutics, Inc. (NASDAQ:PLRX) continues to progress in its clinical trials and research, it holds promise as a noteworthy investment opportunity in the biopharmaceutical sector.
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