Wall Street's latest moves show a clear divide. Analysts are bullish on chip equipment and defensive utilities. They are trimming targets on financial names.
Applied Materials attracted a fresh new recommendation this week. Its consensus target jumped to $503 from $451. The $346bn chip-equipment giant benefits from strong semiconductor capex spending. That gap — $52 in added target — is one of the biggest price target moves in the batch.
Consolidated Edison scored the only outright upgrade in the latest round of changes. The New York utility moved up in the ratings. It carries a $38bn market cap and a consensus target of $111. Defensive names are back in favour as rate-cut hopes grow.
On the downside, Equifax and American Express both saw target price trims. AXP's average target slipped to $360 from $362. FICO — Fair Isaac Corporation — also saw a small cut. Its target sits near $1,560.
CrowdStrike had a recommendation removed. The cybersecurity leader still holds 41 buy ratings from analysts. Its $151bn market cap and a $498 average target show continued long-term faith despite the removal.
Pfizer was a rare bright spot in pharma. Its consensus target ticked up slightly to $29.19. The stock remains a hold for most analysts with 15 neutral ratings outstanding.
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