This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXMPEA7H0NX_M.jpgInvestingPro subscribers got this news first. Never miss another market-moving headline.
Adobe Systems (NASDAQ:ADBE) shares gained more than 2% pre-market today after Morgan Stanley upgraded the company to Overweight from Equalweight and raised its price target to $660.00 from $510.00, as reported in real-time on InvestingPro.
The bank highlighted the reasons behind the rating change, stating that the increased clarity on AI-enabled products and the roadmap for monetization have bolstered their confidence in Creative Cloud’s organic growth potential. Additionally, the expectation of mid/high-teens EPS growth within the next three years provides further justification for an increase in the multiple and price target.
Jefferies downgraded Carvana (NYSE:CVNA) to Underperform from Hold and cut its price target to $30.00 from $55.00, representing the fifth downgrade this month.
Piper Sandler upgraded Wayfair (NYSE:W) to Overweight from Neutral and raised its price target to $97.00 from $35.00. As a result, shares jumped over 8% pre-market today.
The upgrade was driven by stabilizing the home furnishings industry, improving sales, positive supplier feedback, attractive valuation, and the potential for sustained EBITDA profitability.
The company is set to report its Q2/23 earnings on Thursday before the market opens.
Goldman Sachs upgraded Chevron (NYSE:CVX) to Buy from Neutral with a price target of $187.00, following the company’s reported Q2 beat on Friday.
Shares gained more than 1% pre-market today.
Get ready to supercharge your investment strategy with our exclusive discounts.
Don’t miss out on this limited-time opportunity to access cutting-edge tools, real-time market analysis, and expert insights. Join InvestingPro today and unlock your investing potential. Hurry, the Summer Sale won’t last forever!
