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Russell Indexes Boost CMPX and CVRX; EOSE, ITUB, KBH, SOUN, and FLNC Gain PT Boosts

  • June 23rd, 2023
  • 248 views

Compass Therapeutics, Inc. (Nasdaq: CMPX), a biotechnology company focused on the development of antibody therapeutics, and CVRx, Inc. (Nasdaq: CVRX), a medical device company specializing in neuromodulation therapies, have both announced their inclusion in the Russell 2000 and Russell 3000 Indexes. 

This annual reconstitution by Russell indexes captures the largest US stocks based on market capitalization. Being part of the Russell 3000 Index grants automatic inclusion in either the large-cap Russell 1000 Index or the small-cap Russell 2000 Index, along with the appropriate growth and value style indexes. 

As of the US market opens on June 26, 2023, these additions signify increased visibility and potential for both companies. 

In after-hours trading, $CMPX was at $3.41 (+3.96%) and $CVRX at $14.70 (+1.73%) following the announcements.

Eos Energy Enterprises, Inc. (Nasdaq: EOSE), a leading provider of safe, scalable, and sustainable zinc-based energy storage solutions, has been maintained at a Buy rating by EF Hutton, accompanied by a raised price target from $3.5 to $4.5.

Despite $EOSE closing at $3.60 on Thursday, the updated price target suggests a potential upside of $0.90 or approximately 25%, based on the brokerage firm's view.

Itaú Unibanco Holding S.A. (NYSE: ITUB), one of the largest financial institutions in Latin America, was also maintained at a Buy rating by Goldman Sachs, with an increased price target from $6.2 to $7.2.

With Thursday's closing price at $5.99, the adjusted price target implies a potential upside of $1.21 or about 20.20% for $ITUB, according to the investment banking firm's analysis.

KB Home (NYSE: KBH), a renowned homebuilding company, was maintained at an Outperform rating by Wedbush, who raised the price target from $55 to $64.

Despite closing at $51.55 on Thursday, the adjusted price target reflects a potential upside of $12.45 or approximately 24.15% for $KBH, based on the investment firm's assessment.

SoundHound AI, Inc. (Nasdaq: SOUN), a leading provider of voice AI and conversational intelligence technologies, was also maintained at an Overweight rating by Cantor Fitzgerald, with the price target raised from $2.8 to $6.2.

Based on Thursday's closing price of $4.08, the adjusted price target suggests a potential upside of $2.12 or about 52.00% for $SOUN, according to the financial services firm's perspective.

Fluence Energy, Inc. (Nasdaq: FLNC), a global leader in energy storage systems and services, was maintained at an Outperform rating by RBC Capital, who raised the price target from $26 to $32.

Based on Thursday's closing price of $25.76, the adjusted price target indicates a potential upside of $6.24 or approximately 24.21% for $FLNC, based on the investment firm's analysis.

These price targets and potential upsides are based on the assessments and views of the respective firms, indicating the projected appreciation in stock value according to their analysis and expectations. Investors should carefully consider these opinions while making investment decisions.

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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