Analysts Raise Bar on Vertex, Eye Homebuilders

Vertex Pharmaceuticals drew two bullish calls on Wednesday. UBS analyst Michael Yee lifted his target to $640. TD Cowen's Phil Nadeau followed at $575, up from $550. Both rate the stock Buy. The consensus target now sits at $640, against $615 previously.

Construction materials are also moving. Vulcan Materials saw its consensus target tick up to $312 from $310. IDEX Corporation got a boost too, with the average target rising to $263 from $259.

The other side of the ledger is busy in homebuilding. Lennar, PulteGroup, and NVR all saw consensus targets trimmed. Lennar's target slipped to $77.27. PulteGroup's fell to $132.41. The cuts point to caution on US housing demand heading into year-end. Dutch new car registrations fell 14% in October, a signal that also bears on broader consumer spending trends.

Oracle took a small consensus target cut, to $233.34 from $234.10. The rating mix remains heavily Buy-skewed with 35 buys.

LyondellBasell got a rare piece of good news. UBS raised its target to $69 from $62, while keeping a Hold rating. The chemicals sector has been under pressure, so the upgrade in price expectations stands out.

ON Semiconductor was initiated at Hold by TD Cowen with a $75 target. The stock sits in the middle of a crowded analyst field, with 15 Holds and 14 Buys already on the book.