Analyst desks were busy Monday, with notable moves across consumer staples, real estate, and tech.
EQR was downgraded in a consensus move, with the average target price slipping to $70.83 from $71.33. The residential REIT has a $25.5bn market cap. Short sellers hold just 3.4% of free float — modest pressure.
CPB got a target price lift, with the consensus nudging up to $22.11. The stock carries unusually high short interest at 27.6% of free float, and a cost to borrow of nearly 6%. Analysts are more bullish. Short sellers are not.
CIEN saw its target price trimmed. The optical networking firm trades at a $69bn market cap. Its consensus target now sits around $559. One analyst removed their recommendation entirely, signalling some uncertainty after a strong recent run.
AVGO picked up a target price upgrade, pushing the consensus to $520. Broadcom draws 44 analyst buy ratings with zero sells — the strongest conviction reading in today's batch.
IVZ and both got target hikes from Evercore ISI's Glenn Schorr. He lifted Invesco to $31 and T. Rowe Price to $111, signalling more confidence in asset managers despite market volatility.
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