Analyst desks were busy on Tuesday. Upgrades and downgrades hit names across energy, utilities, and healthcare.
Gilead Sciences received the day's most notable upgrade. The biotech giant now has 23 Buy ratings from analysts. Its consensus target price sits at $157.83. The upgrade reflects growing confidence in Gilead's drug pipeline.
Dominion Energy was the day's biggest casualty. Analysts downgraded the utility, shifting a Hold to a Sell. The $60 billion company now carries just one Buy against 15 Holds. Rate-sensitive utilities remain under pressure as the interest rate outlook stays murky.
Morgan Stanley made two big moves. Analyst Robert Kad raised his target on Williams Companies to $98 from $90. Morgan Stanley's Hamza Fodderwala also lifted the price target on Palo Alto Networks to $253 from $223. Both targets sit well above the current consensus.
Philip Morris International saw its consensus target nudge up to $192.79. The tobacco giant has 11 Buy ratings and zero Sells. Defensive names with pricing power continue to attract analyst favour.
Target and Lowe's both saw minor target cuts after recent earnings reports gave little reason for optimism on consumer spending.
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