Barclays Cuts Targets Across the Board

Barclays swept through a wide range of sectors on Friday, issuing a batch of target price changes that leaned bearish on chemicals and energy while lifting travel and medtech names.

The most eye-catching upgrade came for ABNB. Barclays analyst Ross Sandler raised his target to $195 from $150, a 30% jump, while keeping a Hold rating. The stock carries short interest of 3.5% of free float, so the move adds upward pressure without a large short base to unwind.

PODD also saw its target lifted, to $165 from $150 at Barclays. The insulin pump maker's short interest sits at 8.3% of free float. A rising target on a Hold-rated stock with that level of short interest could attract some covering.

On the bearish side, Barclays cut its target on ALB to $95 from $109, a 13% reduction, keeping a Hold. Albemarle's short interest stands at 10.9% of free float, one of the heavier short loads in the chemical sector. The lithium producer has been under pressure as battery metal prices remain soft.

DVN received a target cut to $57 from $60 at Barclays despite keeping a Buy rating. MCHP saw B. Riley reduce its target to $85 from $98, also retaining Buy, as the chip sector faces lingering demand concerns.

ED was the standout on the utility side, drawing two separate target increases from Barclays and Wells Fargo on the same day, the latter lifting its target sharply to $134 from $118.