Wall Street turned bullish across several sectors Monday. Upgrades and target price hikes dominated the action.
CF Industries got the biggest rating boost. Analysts upgraded CF to a Buy-equivalent. The consensus target jumped to $125.47 from $122.58. The fertilizer giant carries a $19.2B market cap and short interest of just 5.9% of free float — a clean setup for bulls.
Block picked up two positive calls in quick succession. Canaccord Genuity's Joseph Vafi raised his target on XYZ to $85 from $80, reiterating Buy. The consensus target edged up to $90.20. Block trades at a $37.7B market cap with shorts covering a modest 3.9% of free float.
Ross Stores got a quiet but meaningful target bump. UBS analyst Jay Sole lifted his price target on ROST to $227 from $208 — a $19 jump — while keeping a Hold. The off-price retailer carries a $68.5B market cap. The big move in target suggests Sole sees the stock approaching fair value faster than expected.
UBS also raised targets on mall REIT SPG to $199 from $189 and shopping center operator to $81 from $75. Real estate analysts appear more confident on consumer spending resilience heading into summer.
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