IBM Leads Upgrades as Semis Face Target Cuts

IBM led the positive analyst moves today. The consensus target rose to $252 from $243. That follows strong quarterly results and reflects growing confidence in the company's AI software push.

Texas Instruments also drew fresh target increases, with the consensus moving to $337 from $332. Danaher and Teledyne Technologies each received lifted targets. Teledyne's consensus now stands at $763.50, up from $754.

On the downside, Lam Research saw the consensus target trimmed to $371 from $377. Semiconductor equipment stocks have faced pressure as investors reassess capex cycle timing.

AT&T slipped to a $28 consensus target from $28.28. The stock carries a predominantly Hold consensus, leaving little room for upside surprise.

Las Vegas Sands had its target cut to $51.87 from $53.55. Gaming stocks remain sensitive to Macau volume data. Massachusetts online sports wagering revenue rose 36% year on year to $70.9m in September, per ORTEX Alt Data, suggesting the online channel is taking share from retail casino sportsbooks, which fell 37% in the same state over the same period.

Nike bucked the broader cautious tone. Its consensus target edged up to $36.50. The stock still carries a majority Hold rating, but the direction of travel is improving as investors watch turnaround progress.

Chubb rounded out the positive movers. The insurance giant's target rose to $370.65 from $370.22, reflecting steady underwriting performance in a resilient market.