Citi Reshuffles Retail Calls; Photonics Gets a Boost

Citigroup analyst Steven Zaccone made contrasting moves in retail on August 13. He cut his target on LOW from $285 to $267 while keeping a Buy rating. That puts the home improvement giant under pressure as the housing market stays soft.

Zaccone was more optimistic elsewhere. He raised his target on WSM to $248 from $200 and kept a Hold. BBY also got a target lift to $88 from $79, again with a Hold rating. Both moves suggest cautious optimism for discretionary spending.

The most striking target upgrade came in photonics. Consensus lifted COHR to an average target of $410.76 from $394.62. Coherent carries a $69.6 billion market cap and just 5.3% short interest. The stock is benefiting from AI-driven demand for data centre connectivity components.

REGN also saw a target bump, with the consensus price rising slightly to $833.65. The biotech has 17 analyst buy ratings and no sells.

SYK was the session's notable downgrade. The medical device maker lost a buy recommendation, shifting the consensus balance toward holds. Its average target barely moved, at $382.88.