Analysts Adjust Price Targets for Major Stocks on January 6

Equities research analysts made significant adjustments to price targets for various publicly traded companies on January 6, 2024. Notable changes include upgrades and downgrades from several respected financial institutions, reflecting shifts in market sentiment and forecasts.

Key Price Target Increases

American Airlines Group (NASDAQ:AAL) saw its price target raised from $15.00 to $17.00 by Bank of America Corporation, which retains a neutral rating on the stock. Similarly, Arch Capital Group (NASDAQ:ACGL) received an upgrade from $100.00 to $102.00 from Keefe, Bruyette & Woods, which maintains a market perform rating.

Albemarle (NYSE:ALB) experienced a substantial increase in its price target from $75.00 to $135.00 as per Berenberg Bank, which currently rates the stock as a hold.

In the airline sector, Alaska Air Group (NYSE:ALK) had its target price raised from $62.00 to $70.00, with Bank of America Corporation assigning a buy rating. Similarly, Delta Air Lines (NYSE:DAL) saw its target boosted from $74.00 to $80.00, also by Bank of America Corporation.

Notable Price Target Reductions

While many companies enjoyed upward adjustments, some experienced reductions. American Assets Trust (NYSE:AAT) had its price target cut from $20.00 to $19.00 by Morgan Stanley, which maintains an equal weight rating on the stock.

Additionally, Biohaven (NYSE:BHVN) saw its target reduced from $26.00 to $21.00, while still holding an overweight rating from Morgan Stanley. Other notable reductions included PulteGroup (NYSE:PHM), which saw its target lowered from $150.00 to $132.00 by Wells Fargo & Company.

In the insurance sector, The Hartford Insurance Group (NYSE:HIG) received a target increase from $145.00 to $160.00 by Keefe, Bruyette & Woods, indicating confidence in the company’s continued performance.

Overall, the adjustments made by these financial institutions reflect a dynamic market environment where analysts are closely monitoring trends and making strategic decisions based on new data. Investors will be keen to observe how these changes influence stock performance in the coming weeks.

For those interested in staying updated on the latest market changes, signing up for daily summaries from credible sources such as MarketBeat may provide valuable insights.