Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Analysts upgraded a trio of cybersecurity names on Sunday while taking an axe to BlackRock, creating a sharp split between tech and financials heading into earnings season.
Fortinet received an upgrade and now carries a consensus target of $167.91. The $124 billion network-security firm has minimal short interest at just 2% of free float. Palo Alto Networks also gained an upgrade. Analysts set their average target at $398.52 on a stock worth nearly $280 billion.
Applied Materials picked up an upgrade too. Its consensus target price eased slightly to $627.83. The semiconductor equipment maker rounds out a broad sweep of tech upgrades in a single session.
On the other side, BlackRock was downgraded. The $175 billion asset manager now has just two Buy ratings against 16 Sells in consensus, a heavily skewed picture that suggests stretched valuations. saw its consensus target trimmed to $56.50, reflecting softer sentiment on Macau gaming.
Two utilities also took hits. Southern Company and Ameren were both downgraded, suggesting analysts are rotating away from rate-sensitive defensive names. Canadian bank data may reinforce that view: business loans hit a record CAD 3.18 trillion in August, according to ORTEX Alt Data, pointing to a stronger lending environment that typically pressures utility-style yields.
The broader pattern is clear. Analysts are backing cybersecurity while trimming exposure to asset managers, gaming and utilities.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
