Analysts Swing Hard on Energy and Med-Tech

Scotiabank handed Targa Resources the boldest target price upgrade of the session. The bank lifted its price target from $257 to $314. That is a 22% jump in expected upside. The analyst maintained a Buy rating on the $62.5 billion midstream energy company. Short interest is just 2.5% of free float. Bears are scarce on this one.

The mood was darker at William Blair. The firm downgraded The Cooper Companies from Buy to Hold. The medical device maker has a $12.4 billion market cap. No revised target was issued alongside the call — a sign the analyst sees limited near-term upside but not outright risk.

Also in energy, Scotiabank trimmed its target on The Williams Companies to $85 from $86. The cut was minor. The Buy rating stayed in place.

Elsewhere, consensus targets inched higher on Ares Management and Apollo Global Management as Wall Street edges up assumptions for alternative asset managers. Both remain heavily Buy-rated.

Macquarie initiated coverage on Block with a Hold and a $75 target. The fintech name draws a cautious first call from the Australian bank.