Wall Street analysts turned bullish on financials Friday. Morgan Stanley was upgraded, pushing consensus estimates higher. Its average analyst target now sits at $231.86, up from $226.48.
State Street also won a target lift. Analysts raised the average price target to $196.89 from $185.04. That is a nearly $12 jump. State Street's market cap stands at $51.4 billion.
Regional banks joined the rally. Regions Financial and Truist Financial both received upward target revisions. UnitedHealth Group saw its consensus target rise to $471.65 from $455.04.
The bearish calls landed in media and energy. Fox Corporation was downgraded by consensus. Short interest in FOXA is notably elevated at 21.1% of free float. That is well above typical large-cap levels.
Netflix saw its consensus target trimmed to $97.91 from $98.54. The cut is small but marks the second consecutive week of downward revisions. also had its target shaved, with analysts settling at $228.96.
The overall tone favours financials heading into earnings season. Banks with strong Q2 results are being rewarded with fresh upgrades and higher price targets.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
