NEW YORK - In a series of optimistic updates from major financial institutions, several companies have seen their stock ratings upgraded with new price targets reflecting anticipated economic improvements and strong brand performances.
Morgan Stanley has shifted its stance on Target Corporation (NYSE:TGT), upgrading the retail giant's stock from "Equal Weight" to "Overweight." The investment firm has also set a new price target of $165. This upgrade is grounded in a positive outlook on the economy, including expectations for lower interest rates and a rebound in the housing market, which could boost consumer spending at retail outlets.
Similarly, Piper Sandler has expressed confidence in Home Depot (NYSE:NYSE:HD), assigning an "overweight" rating to the home improvement retailer. The firm's bullish position comes with a new price target of $400, bolstered by favorable home equity trends that are likely to encourage homeowners to invest in renovations and upgrades.
In the technology sector, Western Digital (NASDAQ:WDC), a prominent data storage company, has received optimistic evaluations from both Barclays and Deutsche Bank. Both financial institutions have issued "Overweight/Buy" ratings, converging on a consensus price target of $65. The upgrades reflect a positive outlook on the tech industry and Western Digital's strategic position within it.
Additionally, Boston Beer Company (NYSE:NYSE:SAM) has caught the attention of Bernstein analysts, who have upgraded the stock with a price target of $335. This decision is largely driven by the strong performance of the company's Twisted Tea brand, which continues to capture consumer interest and expand its market share.
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