Micron Technology attracted the most aggressive price target moves on Wednesday. DA Davidson's Gil Luria raised his target to $2,000 from $1,500. That is a $500 jump in a single call. Wells Fargo's Aaron Rakers also lifted his target to $1,525 from $1,220. Both analysts kept Buy ratings. The consensus now sits at 38 Buy ratings versus just one Sell. Micron carries a $1.18 trillion market cap and short interest at just 3.4% of free float.
QUALCOMM also drew fresh attention. Wells Fargo raised its target to $265 from $230. The consensus was upgraded too, with Buy recommendations rising to five from four. QCOM has a $208 billion market cap.
Barclays analyst Lauren Lieberman made a notable sector rotation call in beverages. She upgraded Keurig Dr Pepper to Buy from Hold, lifting her target to $36 from $30. In the same note, she downgraded Brown-Forman to Hold from Buy, keeping her target at $27. The move signals a shift toward non-alcoholic drinks and away from spirits.
Boston Scientific saw Stifel cut its target sharply to $65 from $75. The Buy rating was kept, but the $10 drop stands out against a stock with 25 Buy ratings.
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