Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Analysts drew a sharp line between cybersecurity and utilities this week, with upgrades pouring into tech while power stocks took hits.
Fortinet, Palo Alto Networks, and Palantir all received upgrades. The cybersecurity pair now sit at consensus average targets of $167.91 and $398.52 respectively. Palantir's target reached $206.43. Three upgrades in one session for the security and AI space signals growing analyst confidence ahead of fourth-quarter IT budgets.
The contrast with utilities was stark. Southern Company and Ameren were both downgraded. Southern's consensus target sits at $96.29. Ameren's stands at $115.75. Rising rate expectations may be pressuring the sector's income appeal.
BlackRock was downgraded despite a lofty consensus target of $1,336.71. The move bucks the usual bullish tone around asset managers.
Applied Materials was upgraded, with the consensus target edging down slightly to $627.83 from $632.28. The chip equipment maker benefits from ongoing semiconductor capex cycles.
On the energy side, Occidental Petroleum saw its consensus target tick up to $69.62. Las Vegas Sands saw its target trimmed to $56.50, with analysts cooling on Macau recovery momentum.
ORTEX Index Rebalance Radar notes that Fabrinet faces a coin-flip deletion from MSCI World, with a $826M forced sell potentially looming after tomorrow's ranking cut-off.
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.
