Chips and Cloud Lead Analyst Target Upgrades

Wall Street lifted targets across tech and industrials on July 23. The moves follow a busy earnings week.

Texas Instruments drew the biggest absolute target jump. The average analyst target rose to $314.90, up from $307.58. That is a $7.32 increase. The chipmaker carries a $265 billion market cap and short interest sits at just 1.8% of free float — shorts are not betting against it.

ServiceNow also got a target bump. The average price target climbed to $139.91 from $138.84. Analysts stayed firmly bullish with 44 buy ratings. Short interest stands at 5.6% of free float. Availability is over 2,100% — shorts can easily borrow shares but few are bothering.

Align Technology saw a recommendation removed from consensus. The orthodontics firm now has 11 buy ratings. Its average target slipped slightly to $208.15. Short sellers hold 7% of free float — above the tech average.

On the downgrade side, CoStar Group and Crown Castle both saw target cuts. CoStar's average target fell to $43.95 from $44.45. Crown Castle dropped to $97.32 from $98.27. Both moves are modest but signal softening analyst enthusiasm.

CME Group and CSX rounded out the upgrades, with average targets edging higher after solid quarterly results.