Chips Rally, Robinhood Lands New Bull

ON Semiconductor grabbed the most analyst attention today. Two firms raised their price targets in quick succession. Evercore ISI lifted its target to $137 from $121. Needham followed, moving from $110 to $130. Both kept Buy ratings. The chipmaker has a market cap of $45 billion. Short interest sits at a modest 7.5% of free float.

Robinhood picked up a fresh Buy initiation from BTIG. Analyst Andrew Harte set a $125 target. That implies meaningful upside for the $77 billion fintech. Short sellers hold just 4.6% of the float, suggesting the market is not heavily positioned against it.

Bio-Techne saw the biggest single target jump of the session. Baird lifted its price target to $73 from $49. That is a 49% increase. The firm kept a Hold rating. Short interest is 9.5% of free float — the highest among today's movers.

NIKE was the session's key downgrade. Keybanc cut its rating to Hold from Buy. No new price target was issued. The $50 billion footwear giant has been under pressure. Analysts are now split: 22 Hold ratings against just 2 Buys.

Darden Restaurants attracted three separate target increases from Baird, Stephens, and BTIG. Targets ranged from $216 to $235.