Wells Fargo Bets Big on Chips and Airlines

Wells Fargo made two bold calls today. The bank lifted its target on AMD to $615 — a $110 jump — keeping a Buy rating. AMD's $880 billion market cap reflects its AI chip momentum. Short interest sits at just 2.9% of free float. That's a low-conviction bear trade.

Wells Fargo also raised its target on United Airlines to $165 from $130. Analyst Christian Wetherbee kept a Buy. UAL carries a $44 billion market cap. Short interest is 4.6% of free float. Bears are light here too.

Southwest Airlines got a smaller boost from the same analyst. The target moved to $50 from $44. Wetherbee kept a Hold rating.

Walt Disney earned an upgrade from JP Morgan. Analyst David Karnovsky moved to Buy. The target went to $140 from $139 — a token raise. But the rating shift matters. Disney's short interest is just 1.5% of free float.

Zoetis saw its consensus target cut to $118 from $124. The animal health stock faces growing headwinds. LyondellBasell also suffered a target trim to $77 from $79.

Oracle was the lone large-cap consensus upgrade. Its average target edged up to $253.