Top firms adjust price targets and ratings for six stocks, citing valuation shifts and growth prospects in energy and industrials.
Wall Street analysts issued key rating changes, downgrading Apple and IBM while upgrading FuelCell, Halliburton, Red Rock Resorts, Newmont, and Wesco. The moves reflect shifting valuations and growth outlooks across sectors, particularly energy and industrials.
UBS raised FuelCell to Buy with a $27 target, up from $22, citing a 42% upside driven by recent partnerships with Fit Energy and Siemens. Piper Sandler upgraded Halliburton to Overweight at $43, noting a 20% pullback from mid-May highs. Wells Fargo lifted Red Rock Resorts to Overweight with a $75 target, expecting a breakout on accelerating growth.
TD Cowen upgraded Newmont to Buy at $127, down slightly from $129, calling its recent pullback a compelling entry point. Stephens raised Wesco to Overweight with a $400 target, up from $350, after a 10% summer decline, citing confidence in mid-to-high single-digit sales growth.