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. Meta Platforms, Inc. (NASDAQ:META)
Upside Potential: 13%
On January 29, Jefferies analyst Brent Thill increased the price target for Meta Platforms, Inc. (NASDAQ:META) to $455.00 from $425.00, affirming a Buy rating on the stock. This adjustment reflects Jefferies’ outlook on Meta’s position within the technology industry and its assessment of the company’s future growth prospects. With the revised price target suggesting a 13% upside potential relative to the current market price, Jefferies’ decision underscores a bullish sentiment regarding Meta Platforms, Inc. (NASDAQ:META) trajectory. The higher target price indicates Jefferies’ confidence in Meta Platforms, Inc. (NASDAQ:META) ability to navigate challenges and capitalize on opportunities in the evolving digital landscape. Maintaining a Buy rating indicates Jefferies’ conviction that Meta is poised for significant growth and value creation. This rating suggests that Meta’s performance is expected to outpace the broader market and deliver above-average returns to investors. The raised price target of $455.00 reflects Jefferies’ positive outlook on Meta’s strategic initiatives and potential for sustained revenue and earnings growth. It signals that Meta Platforms, Inc. (NASDAQ:META) stock is undervalued relative to its growth prospects, making it an attractive investment opportunity for investors seeking exposure to the technology sector. As of the closing bell on January 29, Meta Platforms, Inc. (NASDAQ:META) stock was trading at $401.02, implying a potential upside from Jefferies’ revised price target.
04. McDonald’s Corporation (NYSE:MCD)
Upside Potential: 17%
On January 29, Bank of America raised its price target for McDonald’s Corporation (NYSE:MCD), a key player in the fast-food industry, from $291.00 to $341.00, while maintaining a “neutral” rating on the stock. This adjustment reflects Bank of America’s assessment of McDonald’s Corporation (NYSE:MCD) position and potential within the restaurant industry landscape. With the revised price target indicating a 17% upside potential relative to the closing market price on January 29, Bank of America’s decision underscores a notable degree of optimism regarding McDonald’s future performance. The increased target price reflects Bank of America’s confidence in McDonald’s Corporation (NYSE:MCD) ability to execute its strategic plans and capitalize on opportunities within the highly competitive restaurant sector. By maintaining a “neutral” rating, Bank of America acknowledges McDonald’s Corporation (NYSE:MCD) strengths and recognizes potential challenges that may impact its performance. This rating indicates that Bank of America views McDonald’s as having balanced prospects compared to its industry peers. While optimistic about McDonald’s growth potential, Bank of America also acknowledges the presence of certain uncertainties and risks that could affect the company’s trajectory. The upward adjustment in the price target to $341.00 highlights Bank of America’s positive outlook on McDonald’s Corporation (NYSE:MCD) long-term value proposition and its potential to deliver shareholder returns. It suggests that McDonald’s Corporation (NYSE:MCD) stock is currently undervalued relative to its projected earnings trajectory, making it an attractive investment opportunity for investors looking to gain exposure to the restaurant industry.
03. Visa Inc. (NYSE:V)
Upside Potential: 17%
On January 29, Barclays analyst Raimo Lenschow reaffirmed their positive stance on Visa Inc. (NYSE:V), a leading player in the financial services industry, maintaining an “Overweight” rating on the stock. Additionally, Lenschow raised the price target for Visa Inc. (NYSE:V) from $304 to $319, indicating an upside potential of 17% relative to the closing market price on January 29. This adjustment reflects Lenschow’s continued confidence in Visa’s position and growth prospects within the financial services sector. By maintaining an “Overweight” rating, Lenschow emphasizes Visa’s strong performance and outlook compared to its industry peers. This rating suggests that Barclays views Visa Inc. (NYSE:V) as an attractive investment opportunity with favorable prospects for long-term growth and value creation. The increased price target of $319 highlights Barclays’ optimistic outlook on Visa Inc. (NYSE:V) future earnings potential and market performance. It signifies Barclays’ belief that Visa Inc. (NYSE:V) stock is currently undervalued relative to its projected earnings trajectory and growth prospects.
02. Natera, Inc. (NASDAQ:NTRA)
Upside Potential: 20%
On January 29, The Goldman Sachs Group reiterated its bullish stance on Natera, Inc. (NASDAQ:NTRA), a prominent player in the genetic testing industry, maintaining a “BUY” rating on the stock. Additionally, Goldman Sachs increased the price target for Natera, Inc. (NASDAQ:NTRA) from $64.00 to $80.00, indicating a substantial upside potential of 20% relative to the closing market price on January 29. This reaffirmation of confidence by Goldman Sachs underscores the firm’s positive outlook on Natera’s position and growth prospects within the genetic testing sector. By maintaining a “BUY” rating, Goldman Sachs signals its belief that Natera represents an attractive investment opportunity with favorable prospects for long-term growth and value appreciation. The raised price target of $80.00 reflects Goldman Sachs’ optimistic view on Natera, Inc. (NASDAQ:NTRA) future performance and earnings potential. This adjustment signifies Goldman Sachs’ belief that Natera’s stock is currently undervalued relative to its expected earnings trajectory and growth opportunities. Goldman Sachs’ analysis and price target revision for Natera are likely to have an impact on investor perceptions and contribute to ongoing discussions about Natera, Inc. (NASDAQ:NTRA) competitive positioning and growth trajectory within the genetic testing industry. As a leading provider of genetic testing services, Natera, Inc. (NASDAQ:NTRA) continues to attract attention from analysts and investors, with Goldman Sachs expressing confidence in its ability to deliver strong returns for shareholders.
Alger Spectra Fund made the following comment about Natera, Inc. (NASDAQ:NTRA) in its Q2 2023 investor letter:
“Natera, Inc. (NASDAQ:NTRA) is a specialty lab providing genetic testing services in the reproductive health, oncology and transplant markets. Reproductive health tests are run to screen for common genetic disorders such as trisomy 13, 18, and 21 in pregnant women – these tests are also known as non-invasive prenatal testing (NIPT). The company’s oncology franchise is led by Signatera, a test used to detect minimal residual disease (MRD) – the applications of this test are primarily to monitor therapy response and detect cancer recurrence. Lastly, Natera’s transplant franchise is led by Prospera, a test used to monitor transplant organ rejection. Natera’s tests are all based on the company’s proprietary liquid biopsy platform to detect cell-free DNA. Shares detracted from performance this quarter after the company reported lower than expected fiscal first quarter gross margins. Moreover, we believe investors sold shares this quarter following a strong first quarter rally after the Centers for Medicare & Medicaid Services (CMS) announced they would cover Natera’s Signatera Breast tests. Despite this quarter’s decline in share price, the company reported solid quarterly revenues that beat analyst estimates, driven by strong volumes in women’s health and management raised its fiscal 2023 revenue guidance above consensus.”
01. Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP)
Upside Potential: 174%
On January 29, Oppenheimer analyst Jeff Jones reaffirmed his bullish outlook on Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP), a key player in the pharmaceutical industry, maintaining an “Outperform” rating on the stock. Additionally, Jones raised the price target for Corbus Pharmaceuticals from $20 to $51, suggesting a substantial upside potential of 174% relative to the closing market price on January 29. This reiteration of confidence by Jeff Jones underscores his positive assessment of Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) position and growth prospects within the pharmaceutical sector. By maintaining an “Outperform” rating, Jones indicates his belief that Corbus Pharmaceuticals presents an attractive investment opportunity with favorable prospects for long-term growth and value appreciation. The increased price target of $51 reflects Jones’ optimistic view on Corbus Pharmaceuticals’ future performance and earnings potential. This adjustment signifies Jones’ conviction that Corbus Pharmaceuticals’ stock is currently undervalued relative to its anticipated earnings trajectory and growth opportunities. The revised price target is expected to enhance investor confidence in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) growth potential and contribute to positive sentiment surrounding the stock. Jones’ analysis and price target revision for Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) are likely to influence investor perceptions and contribute to ongoing discussions about the company’s competitive positioning and growth trajectory within the pharmaceutical industry.
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