Wall Street Trims Energy, Lifts Travel Targets Saturday

Barclays swept through its coverage universe Friday, issuing target price changes across energy, chemicals, and consumer sectors.

Albemarle took the sharpest cut. Barclays trimmed the lithium miner's target to $95 from $109, keeping a Hold. The stock is already a consensus sell with 14 bearish ratings against 9 holds.

In energy, Devon Energy saw its Barclays target slip to $57 from $60 on a Buy. EOG Resources got a lift to $155 from $147, also retaining a Hold.

The surprise of the batch was Airbnb. Barclays lifted its target by $45 to $195, the biggest percentage jump in the sweep. The rating stays at Hold, but with 25 sell ratings on the stock the revised target stands well above the consensus view.

Utilities attracted attention from two desks. Consolidated Edison received upgrades from both Barclays (target raised to $108) and Wells Fargo (target raised to $134, Buy). Wells Fargo also initiated Atmos Energy with a Buy at $201.

Microchip Technology faced the roughest treatment. B. Riley Securities cut its target to $85 from $98, keeping a Buy, as the chip sector continues to struggle with inventory normalisation. Twenty analysts already rate the stock a sell.

FactSet Research got a Barclays target lift to $305 from $250 despite carrying a Sell rating, reflecting strong pricing power in financial data.