Chips Rise, Creative Software Falls in Analyst Calls

Analysts made a sharp split in the tech sector this week. AMD received an upgrade while Adobe took a downgrade — from two separate firms on the same day.

AMD's consensus moved from 41 Hold ratings to 42. Its average target price climbed to $486. The chipmaker carries a $796 billion market cap and very low short interest of 2.7% of free float.

Adobe was cut to Hold by Citigroup's Tyler Radke, who slashed his target from $264 to $228. That is a 14% target price reduction in one move. Consensus now shows 23 Holds against just 12 Buys. Adobe's market cap sits at $88 billion. Short interest has ticked up to 4.8% of free float.

KLA Corporation also drew a downgrade. Its average target fell sharply. The semiconductor equipment firm has a $315 billion market cap.

Morgan Stanley took the opposite stance in energy refining. The bank lifted targets on Marathon Petroleum to $265 and Phillips 66 to $196. Valero Energy also received a target bump to $255.

Lennar saw its average target trim to $90 as homebuilder sentiment stays cautious.