Top Analyst Ratings & Analysis for Sept 20th, 2024

Top Ratings

Amazon (AMZN)

• Analyst: Evercore ISI
• Rating Change: Upgraded to Outperform
• New Target Price: USD 240 (up from USD 225)

Evercore ISI’s upgrade of Amazon reflects growing confidence in the company’s ability to drive revenue and profit growth, particularly as it continues to expand its e-commerce and cloud computing services. The raised target price means that analysts expect Amazon to capitalize on market opportunities and navigate challenges effectively.

Salesforce (CRM)

• Analyst: Needham & Company
• Rating: Reiterated Buy
• Target Price: USD 345 (Maintains)

Needham & Company’s reaffirmation of a “Buy” rating for Salesforce indicates strong confidence in the company’s growth trajectory within the CRM (customer relationship management) sector. Despite the target price remaining unchanged, analysts may be optimistic about Salesforce’s robust product offerings and its strategic acquisitions that enhance its competitive position. This steady outlook suggests that Salesforce is well-positioned to capitalize on increasing demand for cloud-based solutions.

National Bank of Canada (NA:CA)

• Analyst: Scotia Capital
• Rating Change: Downgraded to Neutral from Sector Perform
• New Target Price: CAD 135 (up from CAD 129)

Scotia Capital’s downgrade of National Bank of Canada to “Neutral” signals a more cautious outlook, despite increasing the target price from CAD 129 to CAD 135. The downgrade reflects the market conditions that could limit further upside potential. The increase in target price is an adjustment to the stock’s current valuation, suggesting the stock is near its fair value point.

CrowdStrike (CRWD)

• Analyst: Susquehanna International Group
• Rating: Reiterated Positive
• Target Price: USD 310 (unchanged)

Susquehanna International Group’s decision to reiterate a “Positive” rating for CrowdStrike indicates strong confidence in the company’s continued growth and resilience in the cybersecurity market. By maintaining the target price at USD 310, analysts convey that they believe CrowdStrike’s stock is well-positioned to reach this value over the next 12 months, reflecting both current performance and future potential.

Cisco Systems (CSCO)

• Analyst: Evercore ISI
• Rating: Outperform
• Target Price: USD 60 (up from USD 55)
• Date of Update: September 20, 2024

Evercore ISI’s decision to raise the target price for Cisco Systems from USD 55 to USD 60 and maintain an “Outperform” rating reflects an optimistic view on the company’s future performance. This upward revision suggests that analysts believe Cisco is poised for solid growth and can exceed current market expectations.