Nvidia Soars as Analysts Upgrade Big Tech Stocks Amid iPhone Sales Concerns
The latest analyst calls from Tuesday included notable upgrades and downgrades for several prominent companies. Among them was Nvidia, which saw a price target increase to $850 by RBC Capital Markets. The firm cited strong demand for the company's graphics processing units (GPUs) as its reasoning.
Meanwhile, Apple received a downgrade from Stifel, with the firm reducing its price target to $170 due to concerns about the company's iPhone sales. Additionally, AMD was upgraded by RBC Capital Markets, which increased its price target for the chipmaker to $185.
Etsy, on the other hand, saw a downgrade from KeyBanc Capital Markets, with the firm reducing its price target to $55 due to concerns about the company's competitive landscape. Eli Lilly also received an upgrade from Morgan Stanley, which increased its price target for the pharmaceutical giant to $455.
Samsara was one of several other companies to receive analyst calls on Tuesday. The logistics technology provider saw a price target increase from Wedbush Securities, but it also faced downgrades from several firms due to concerns about its profitability and competitive position.