Analyst sentiment shifted sharply on Thursday. Three names stand out from a busy round of rating changes.
ACN took the hardest hit. Accenture was downgraded at the consensus level. The average analyst target price dropped from $227.74 to $208.16. That is an 8.6% cut. The IT services giant carries a $95.8 billion market cap. It now faces more sell recommendations than holds among analysts covering the stock.
DDOG got a big vote of confidence. Scotiabank analyst Patrick Colville reiterated a Buy rating and raised his target from $225 to $275. That is a $50 jump. Datadog has a $75 billion market cap. The move reflects growing optimism around the cloud monitoring firm's AI-driven product suite.
ALB drew two positive actions in quick succession. Citigroup's Patrick Cunningham upgraded Albemarle from Hold to Buy with a $225 target. A new recommendation was added separately the same day. Albemarle has been battered by weak lithium prices. Short interest sits at 9.1% of free float. Analysts may be betting that the lithium cycle has bottomed.
FDX also saw target price upgrades. The consensus average rose to $339.71 from $327.96. FedEx reports earnings later this month. Expectations appear to be edging higher.
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