Truist Cuts Intuit as Solar Targets Climb

Truist Securities downgraded INTU to Hold from Buy on August 3. Analyst Arvind Ramnani cut his price target to $350 from $410. That is a $60 drop. Intuit carries a market cap of $86 billion. Short interest sits at 5.6% of free float.

The most bullish action of the day came in solar. Analysts lifted consensus targets on FSLR to $256. The stock has short interest of 9.6% of free float. That elevated short position makes any price target upgrade more meaningful — short sellers may be squeezed if momentum builds.

Alternative asset manager ARES also saw targets raised to $144.78. Analysts lifted average targets by over $3 in the latest round. The stock has short interest of 7.5% of free float.

CSCO received an upgrade in consensus. The networking giant moved higher in analyst rankings, with the average target now at $131.

Defense name LHX saw UBS cut its target to $298 from $312 while keeping a Hold rating. UBS also trimmed MLM to $715 from $739, still rated Buy.

The pattern today is clear. Analysts are cautious on software valuations while lifting targets in energy transition and alternative finance names.