Citigroup made bold moves across three sectors in one session. The bank raised its target on GM to $131 from $108. It also lifted Ford to $19 from $13. Both upgrades follow easing trade war fears on US auto tariffs.
Barclays made the most eye-catching call of the day. Analyst Tom O'Malley raised his target on Intel to $100 from $65. That is a 54% target hike. Intel's market cap stands at $576 billion. Short interest is a light 2.8% of free float.
Citigroup initiated AppLovin with a Buy rating and a $710 target. APP carries a $187 billion market cap. The ad-tech firm has just 5% of its free float sold short.
On the downside, UBS cut its target on lululemon to $153 from $176. Analyst Jay Sole kept a Hold rating. The move comes as the athleisure brand faces slowing consumer demand. Citigroup also trimmed its target on Accenture to $195 from $215, maintaining a Hold.
The consensus on Abbott Laboratories was upgraded. MGM Resorts saw its consensus slip one notch to a mild downgrade, with the average target barely moving to $44.84.
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