Analysts are bullish on semiconductors and cautious on tech services. That's the clearest pattern from today's rating changes.
AMAT is the standout story. UBS raised its price target on Applied Materials to $515 from $480, keeping a Buy rating. Citi went further — lifting its target to $550 from $520, also Buy. That puts the average analyst target near $515. The $349B chip equipment giant has just 2% short interest. Bears are not betting against it.
CHRW got a consensus upgrade. The freight broker's target now sits at $196.58. Analysts see the transport recovery trade alive and well. Short interest is a modest 5.8% of free float.
The sharpest cut of the day hit CTSH. Citigroup's Bryan Keane slashed his target on Cognizant Technology Solutions to $51 from $58 — a 12% reduction — while keeping a Hold rating. The IT services firm carries 9.3% short interest. That's elevated versus peers. Keane's move suggests margin pressure concerns have not eased.
NOC also saw a consensus upgrade. Northrop Grumman's average target edged up to $711.59. Defence spending tailwinds remain a key analyst theme heading into summer.
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.
