Analysts Boost Duolingo, Slash PG&E Target Amid Market Volatility
Wall Street analysts have been active this week, revising their ratings and price targets for various stocks. On Tuesday, September 1st, Akamai Technologies (NASDAQ: AKAM) was upgraded to Overweight from Neutral at Piper Sandler, with a target price of $125.
Duolingo (NASDAQ: DUOL), the language learning app, saw its shares doubled in value after being upgraded to Outperform from In Line at Evercore ISI. The new target price is now set at $210.
Rising interest rates and geopolitical tensions have put pressure on the stock market, with investors considering hedging their portfolios or taking profits as we enter September, traditionally a tough month for stocks.
The Federal Reserve's plans are also causing concern, with odds of a September rate hike increasing to 55% following Chairman Warsh's speech at Jackson Hole. This could impact Treasury bonds, which saw yields rise on Monday.