Analysts Lift Custodians, Flag Chip Names

Custody bank stocks got a wave of target price upgrades today. State Street, Northern Trust, and Bank of New York Mellon all saw consensus targets move higher. BNY's average target rose to $147.31 from $145.23. Northern Trust's jumped to $172.85 from $171.00. The moves suggest growing confidence in fee-based financial businesses.

In semiconductors, a surprise recommendation removal hit Micron Technology. One analyst pulled their rating entirely. That stands out — the consensus average target swings wildly between $1,048 and $1,368, showing deep disagreement on fair value. Micron carries just 3.4% short interest as a share of free float.

ON Semiconductor also lost a recommendation today. The $45 billion chipmaker has 7.5% SI % FF. Analysts are trimming exposure ahead of what could be a tough cycle for power semiconductors.

On the consumer side, Darden Restaurants got a target price bump. The consensus target ticked up to $227.64. The restaurant operator has seen steady demand despite macro pressure.

PepsiCo and Intuit both saw targets trimmed slightly. Lockheed Martin also faced a small cut, to $624.11 from $625.16.