Significant Upgrades and PT Adjustments by Brokerage Firms: Dycom Industries, Ford, Futu Holdings, NVIDIA, Pembina Pipeline, Toll Brothers, and Vipshop
- May 25th, 2023
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Brokerage firms have made significant adjustments to their price targets and ratings for several prominent companies. These revisions reflect changing perspectives on the growth prospects and investment potential of these stocks.
Dycom Industries, Inc. (NYSE: DY), a leading provider of specialty contracting services, has been upgraded by Wells Fargo from Equal Weight to Overweight. Additionally, the price target for $DY has been raised from $105 to $120. As a result of this positive assessment, $DY is currently trading at $99.68, reflecting a gain of $2.66 (+2.74%).
Daiwa Securities has upgraded Ford Motor Company (NYSE: F) from Underperform to Neutral, indicating a more favorable outlook on the company's performance. Although the upgrade to Neutral suggests a more cautious stance, it still represents an improvement from the previous rating. Currently, $F trading price stands at $11.41, with an increase of $0.09 (+0.75%).
Credit Suisse has upgraded Futu Holdings (Nasdaq: FUTU) from Neutral to Outperform, signaling increased confidence in the company's prospects. However, $FUTU is currently experiencing a decline, trading at $37.80 with a decrease of $1.32 (-3.37%).
NVIDIA Corporation (Nasdaq: NVDA), a leading semiconductor company, has received multiple upgrades from reputable sources. Robert W. Baird has upgraded the stock from Neutral to Outperform, accompanied by a price target increase from $300 to $475. Wedbush has also upgraded NVDA from Neutral to Outperform and raised the price target from $290 to $490. Additionally, Craig Hallum has upgraded the stock from Hold to Buy. These positive evaluations have significantly impacted the trading price of $NVDA, which currently stands at $383.06, reflecting an impressive gain of $77.68 (+25.44%).
Credit Suisse has upgraded Pembina Pipeline Corporation (NYSE: PBA) from Neutral to Outperform, suggesting a more optimistic view of the company's future performance. Despite the upgrade, $PBA is currently experiencing a slight decline, trading at $30.58 with a decrease of $0.03 (-0.08%).
RBC Capital Markets has upgraded Toll Brothers, Inc. (NYSE: TOL), a prominent home construction company, from Sector Perform to Outperform. Furthermore, the price target for $TOL has been raised from $55 to $77. This positive evaluation has driven $TOL price to $68.65, with an increase of $3.56 (+5.47%).
JP Morgan has upgraded Vipshop Holdings Limited (NYSE: VIPS) from Neutral to Overweight and raised the price target from $16 to $18. This upgrade reflects a more positive outlook on the company's performance. Currently, $VIPS is trading at $15.06, with an increase of $0.14 (+0.97%).
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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