Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades for Rambus, WEC Energy, Dynatrace, and Teva Pharma.
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Rambus shares soar on Jefferies upgrade
Rambus (NASDAQ:RMBS) shares surged more than 9% yesterday after Jefferies upgraded the company to Buy from Hold and raised its price target to $65.00 from $45.00, as reported in real time on InvestingPro.
The upgrade followed recent meetings with management and increased confidence in the company’s positioning. According to Jefferies, the company is well positioned for not only leading buffer chip share in ramping DDR5 but also for a meaningful share in the significant adjacent growth opportunities of companion chips and CXL.
Earlier this month, the company reported its Q1 earnings, significantly missing the Street estimates.
WEC Energy upgraded to Buy at Mizuho
Mizuho Securities upgraded WEC Energy (NYSE:WEC) to Buy from Neutral with a price target of $98.00.
According to the firm, regulatory concerns that resulted in a stock underperformance over the past two months are overblown given WEC largely resolved its WI filings earlier this year, covering the WI utilities through 2024. Furthermore, on the IL side, the firm noted that the staff testimony published earlier this month appears constructive.
2 more upgrades
BTIG upgraded Dynatrace (NYSE:DT) to Buy from Neutral with a price target of $57.00 following the Q4 beat on Wednesday, highlighted by upside on all key metrics.
According to BTIG, growth appears to be stabilizing despite macro headwinds and ongoing customer cloud optimization initiatives. Furthermore, the firm noted that commentary on new products, namely application security and log monitoring, was encouraging.
Evercore ISI upgraded Teva Pharma (NYSE:TEVA) to Outperform from In Line following the company's reported Q1 results last week, with revenue coming in better than expected, while EPS missing the estimates.
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