Wall Street made some bold calls today. JP Morgan cut NKE to Hold and slashed its target from $52 to $47. The move signals deepening concern about Nike's recovery pace. Short interest sits at 5% of free float — modest, but bears have been steady.
BAC got the opposite treatment. Morgan Stanley's Betsy Graseck upgraded the bank and lifted the target sharply from $61 to $67. She joins a crowd of 22 Buy-rated analysts on the stock. Short interest is just 1.4% — institutions are not betting against this one.
The sharpest cut of the day hit CHTR. Citigroup's Michael Rollins kept a Buy rating but knocked the target from $230 to $190 — a $40 drop. Charter already carries 26% SI % of FF, one of the highest in large-cap media. That combination of heavy short interest and a falling target is worth watching.
Morgan Stanley also moved on energy, downgrading APA to Sell with a target of $41. AMAT and TXN each saw consensus target prices nudge higher. and also received small upward target revisions from analysts today.
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