Intel Cut, Lilly Lifted in Busy Analyst Session

Intel drew the sharpest analyst action on Friday. DA Davidson's Gil Luria slashed his target from $100 to $70. Rosenblatt went further, cutting its target from $80 to $70 and reiterating a Sell. Both firms kept Hold or Sell ratings on the $484 billion chipmaker, where short interest sits at just 3.2% of free float but sentiment is firmly downbeat.

Pharma moved the other way. Scotiabank raised its target on Eli Lilly from $1,300 to $1,605, a $305 jump, while keeping a Buy. Lilly's market cap stands at $1.2 trillion. JP Morgan also lifted its target on Merck from $165 to $175 with a Buy, signalling renewed confidence in large-cap pharma.

JP Morgan swept through financial stocks with a broad set of target price upgrades. State Street got the biggest lift, rising from $187.5 to $192.5. Northern Trust moved from $185 to $191.5. PNC Financial edged up to $259. All three remain rated Hold or below, suggesting JP Morgan sees value but not urgency.

Republic Services stood out in industrials. JP Morgan raised its target by $20 to $265, keeping a Hold. That gap between a large target hike and a cautious rating reflects a stock that has already run hard.

Gilead Sciences rounded out the session. TD Cowen moved its target from $160 to $175 with a Buy, the second consecutive week of positive analyst revisions for the biotech.