Reddit Cut, Regeneron Raised in Busy Analyst Session

JP Morgan delivered the sharpest move of the day, slashing its target on RDDT from $185 to $150 while keeping a Hold rating. That is a 19% cut to the street price target. Reddit carries short interest of nearly 15% of free float, meaning bears are already positioned against the stock. The lower target gives those shorts fresh cover.

Regeneron got the opposite treatment. JP Morgan's Chris Schott raised his price target on REGN to $1,050 from $950, maintaining a Buy. The consensus average target also climbed, reaching $924 from $869. Short interest on Regeneron sits below 3% of free float, with no real bear thesis in the market.

XEL was the day's headline downgrade. Xcel Energy slipped to a consensus sell signal, with the ratings mix shifting as one analyst moved to a lower tier. The utility sector has faced pressure from rising borrowing costs.

Canaccord Genuity raised DXCM to a $97 target from $90, a bullish call on the glucose monitoring company. JP Morgan trimmed INTC to an $80 target from $85, keeping a Hold. Intel continues to struggle to regain analyst confidence.

RSG saw its consensus target jump to $253 from $244, reflecting strong waste sector sentiment after recent earnings.