JP Morgan and RBC Capital led a broad round of upward target revisions on Thursday, with infrastructure and industrials grabbing the headlines.
PWR drew the most dramatic upgrade. JP Morgan's Mark Strouse lifted his target to $805 from $627 — a $178 jump. The electrical infrastructure giant carries a $109B market cap and is riding the AI data centre buildout wave.
CAT also got a big bump. JP Morgan raised its Caterpillar target to $1,125 from $860, keeping a Buy rating. The $414B machinery titan beat first-quarter earnings expectations.
AMD saw its RBC Capital target raised to $325 from $230, though the analyst kept a Hold rating. The $578B chipmaker recently reported stronger-than-expected data centre GPU demand.
Not all moves were upward. Piper Sandler cut its target on AJG (Arthur J. Gallagher) to $211 from $226 and trimmed AFL (Aflac) to .
Dan Ives at Wedbush reiterated a $350 Buy on AAPL, maintaining one of the street's most bullish stances as Apple navigates tariff headwinds.
The overall tone was bullish. Upgrades outnumbered downgrades across the session. Infrastructure and industrials names led the positive revisions.
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