Analyst activity picked up on Wednesday, with upgrades dominating the flow across industrials and materials.
STERIS received a consensus upgrade, with the average analyst target price jumping to $271.86 from $256.86. The medical equipment sterilisation firm carries a market cap of $20.7 billion. Short interest sits at just 1.9% of free float — shorts are not betting against this one.
The Mosaic Company was upgraded to Buy from Hold by RBC Capital's Andrew Wong. The fertiliser producer's average target now stands at $27. With a $7.1 billion market cap and SI at 5.5% of free float, there is moderate short pressure to unwind if the upgrade gains traction.
Zebra Technologies got a target price lift from Truist Securities' Jamie Cook, moving to $267 from $256. The barcode and tracking equipment maker is maintained at Hold.
JP Morgan went the other way on utilities. Analyst Jeremy Tonet cut targets on both Duke Energy — to $136 from $139 — and CenterPoint Energy — to $45 from $46. Both remain Hold-rated.
Comcast saw consensus targets trimmed, with the average dipping to $32.74 from $32.88.
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