Cantor Fitzgerald initiated coverage across the semiconductor space on Monday. Analyst Matthew Prisco gave NXP Semiconductors and Microchip Technology Buy ratings, with targets of $400 and $125 respectively. He tagged ON Semiconductor and Texas Instruments at Hold.
The NXP call is notable. The $59 billion chipmaker carries just 3.5% short interest. A Buy at $400 implies meaningful upside from current levels.
Away from chips, Wells Fargo's Mike Mayo initiated Huntington Bancshares at Buy with a $23 target. Mayo is one of Wall Street's most-watched bank analysts. Huntington's $36 billion market cap and low 2.3% short interest suggest the stock is not a crowded trade.
The biggest downgrade of the day hit Amcor. JP Morgan's Jeffrey Zekauskas cut the packaging giant from Buy to Hold. His target stayed at $44. Amcor has a $21 billion market cap. Short interest sits at just 4.3%, so this isn't a heavily shorted name — but a Buy-to-Hold cut from JPM carries weight.
Dell Technologies and Regeneron both saw consensus target price increases, at $506 and $840 respectively.
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