Wall Street turned bullish on technology and AI infrastructure stocks Thursday, with several notable target price upgrades cutting across chipmakers and networking names.
Applied Materials drew the biggest consensus shift. Analysts raised the average target to $471, up from $447. The chipmaker's strong positioning in advanced semiconductor equipment is driving the positive revisions.
Networking name Ciena also saw a meaningful lift. The average target rose to $424 from $411. Ciena has benefited from rising demand for optical networking gear tied to AI data centre buildouts.
Vertiv posted the sharpest single-stock target move. The average price target jumped to $355 from $343 — a $13 leap. Vertiv makes power and cooling infrastructure for data centres. It has emerged as a direct play on AI capex spending.
Not all the news was positive. Apple was downgraded by one analyst. Its consensus slipped slightly. The average target edged down to $308 from $306.
Amazon also saw a small target trim, to $311. The cuts come despite broad market optimism, suggesting some analysts see limited near-term upside at current valuations.
HP Inc. was upgraded. Its consensus improved to a more favourable mix, with one fewer sell rating recorded.
The day's tone was clear: AI infrastructure winners continue to attract fresh bullish calls from the Street.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
