Analysts Are Increasing Price Targets of These 10 Stocks

Published January 23, 2023 at 9:12 am EST Updated September 7, 2026 at 11:52 am EDT

In this article, we will discuss the 10 stocks whose price targets were recently raised by analysts.

Social network giant Meta Platforms, Inc. (NASDAQ:META), streaming behemoth Netflix, Inc. (NASDAQ:NFLX) and consumer goods giant The Procter & Gamble Company (NYSE:PG) recently came into the spotlight after receiving price-target hikes from analysts.

Netflix, Inc. and The Procter & Gamble Company received the updated price targets following their latest quarterly performance. On the other hand, MKM Partners increased its price target for Meta Platforms, Inc., citing an improvement in ad spending in the coming quarters.

Meanwhile, tech stocks, including Block, Inc. (NYSE:SQ) and Coinbase Global, Inc. (NASDAQ:COIN), were also on the list of 10 stocks receiving price-target hikes from analysts. Check out the remaining article to see the details of the aforesaid price actions.

Analysts Are Increasing Price Targets of These 10 Stocks

Photo by Austin Distel on Unsplash

10. PagerDuty, Inc. (NYSE:PD)

Number of Hedge Fund Holders: 17

Shares of PagerDuty, Inc. (NYSE:PD) rose nearly six percent on Friday, January 20, after Morgan Stanley upgraded the cloud computing company from “Equal-Weight” to “Overweight.”

The research firm also lifted its price target for PagerDuty, Inc. from $32 per share to $36 per share, citing its attractive valuation. Analyst Sanjit Singh seemed impressed with the company’s durable sales growth.

Singh thinks investors are underestimating the company’s top-line growth and future margin expansion. He added that a subscription model has brought stability in sales, offering PagerDuty, Inc. room to execute initiatives to improve cost structure and expand operating margin.

9. WNS (Holdings) Limited (NYSE:WNS)

Number of Hedge Fund Holders: 19

Baird raised its price target for WNS (Holdings) Limited (NYSE:WNS) from $88 per share to $90 per share on Friday, January 20. The research firm was primarily moved by the company’s upbeat Q3 results and updated outlook for the full year.

WNS (Holdings) Limited recently released solid financial results for its fiscal third quarter. The company reported adjusted earnings of $1.01 per share, compared to 88 cents per share in the year-ago period.

In addition, adjusted sales for the quarter jumped 12.2 percent on a year-over-year basis to $292.9 million. The results exceeded the consensus of 97 cents per share for earnings and $290.7 million for sales.

Looking forward, WNS (Holdings) Limited now expects adjusted earnings in the range of $3.82 – $3.89 per share for its fiscal 2023, up from its previous outlook between $3.68 – $3.87 per share.

8. Ralph Lauren Corporation (NYSE:RL)

Number of Hedge Fund Holders: 22

Shares of Ralph Lauren Corporation (NYSE:RL) rose to a nearly 10-month high on Friday, January 20, after Barclays turned bullish on the fashion company. The research firm upgraded the stock from “Equal-Weight” to “Overweight” and lifted its price target from $101 per share to $134 per share.

Barclays analyst Paul Kearney called Ralph Lauren Corporation a “best-in-class apparel brand,” citing its brand elevation and opportunities in the digital and international segments.

The analyst also thinks that Ralph Lauren Corporation has a greater direct-to-consumer foothold than rivals, giving it more protection even if retailers or wholesalers decide to stock less of its products.

7. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Hedge Fund Holders: 28

JPMorgan increased its price target for Coinbase Global, Inc. from $53 per share to $60 per share on Friday, January 20.

Analyst Kenneth Worthington referred to the surge in cryptocurrency prices at the start of this year and how an exchange like Coinbase Global, Inc. could benefit from it.

Separately, Coinbase Global, Inc. recently suspended its operations in Japan. The move was primarily driven by volatile market conditions in the country. However, Oppenheimer thinks the decision won’t have any significant impact on the company’s sales.

Like Coinbase Global, Inc., analysts also recently raised their price targets for Meta Platforms, Inc., Netflix, Inc. and The Procter & Gamble Company.

6. PPG Industries, Inc. (NYSE:PPG)

Number of Hedge Fund Holders: 34

Credit Suisse lifted its price target for PPG Industries, Inc. (NYSE:PPG) from $104 per share to $118 per share on Friday, January 20. The price-target hike came a day after the paints and coatings supplier posted better-than-expected financial results for the fourth quarter.

PPG Industries, Inc. reported adjusted earnings of $1.22 per share, down from $1.26 per share in the year-ago period but above analysts’ average estimate of $1.13 per share. Revenue remained nearly unchanged at $4.2 billion, while analysts were looking for $4.12 billion.

For the current quarter, PPG Industries, Inc. anticipates adjusted earnings in the range of $1.10 – $1.20 per share. However, it expects Q1 sales to drop by a mid-single-digit percentage on a year-over-year basis.

5. Comerica Incorporated (NYSE:CMA)

Number of Hedge Fund Holders: 45

DA Davidson raised its price target for Comerica Incorporated (NYSE:CMA) from $80 per share to $82 per share on Friday, January 20, citing its upbeat financial performance for the fourth quarter.

Comerica Incorporated’s latest earnings were primarily driven by solid net interest income and strong loan growth. The Texas-based financial services company earned $2.58 per share, well above $1.66 per share in the comparable period of 2021. Revenue for the quarter grew 36 percent versus last year to $1.02 billion. Analysts expected Comerica Incorporated to earn $2.55 per share on revenue of $1.01 billion.

In addition, the company’s net interest income skyrocketed 61 percent to $742 million, while total loans jumped 9.5 percent to $52.38 billion in the quarter. On the downside, total deposits fell 15.6 percent to $71.36 billion.

4. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 69

Stifel increased its price target for The Procter & Gamble Company from $139 per share to $147 per share on Friday, January 20. The latest price action came a day after the consumer goods giant released its fiscal Q2 results.

The Procter & Gamble Company reported adjusted earnings of $1.59 per share, down from $1.66 per share in the year-ago period. Revenue also slipped 1 percent on a year-over-year basis to $20.77 billion. Analysts were looking for earnings of $1.59 per share on revenue of $20.73 billion.

3. Block, Inc. (NYSE:SQ)

Number of Hedge Fund Holders: 75

Shares of Block, Inc. jumped over seven percent on Friday, January 20, after Truist increased its price target for the digital payments company from $85 per share to $105 per share.

Truist analyst Andrew Jeffrey lifted the price target as a part of a broader research coverage on fintech stocks. Jeffrey thinks the company’s gross payment volume growth will jump to 32 percent from 22 percent last year.

Separately, asset management firm Baron Funds also talked about Block, Inc. in its second-quarter 2022 investor letter. Here’s what the firm said:

“Block, Inc. provides point-of-sale technology to small businesses and operates the Cash App ecosystem of financial services for individuals. Shares fell due to mixed quarterly results with more modest growth in the Seller business offsetting strength in Cash App. While integration of recently acquired Afterpay is progressing well and credit metrics remain healthy, the buy-now-pay-later business slowed due to greater competitive intensity. We continue to own the stock due to Block’s long runway for growth, sustainable competitive advantages, and unique corporate culture.”

2. Netflix, Inc. (NASDAQ:NFLX)

Number of Hedge Fund Holders: 115

A number of research firms lifted their price targets for Netflix, Inc. following its impressive quarterly performance last week. Canaccord raised its price target for the video streaming giant from $365 per share to $400 per share on Friday, January 20.

Canaccord was primarily moved by the company’s better-than-expected net subscriber additions. Meanwhile, Deutsche Bank increased its price target for Netflix, Inc. from $350 per share to $400 per share, while Cowen also raised its price target from $405 per share to $440 per share on January 20. Both research firms praised the company’s latest results and paid-sharing initiative.

Now let’s have a look at the key highlights from the Q4 report. Netflix, Inc. added 7.66 million new subscribers in the quarter, beating the consensus of 4.5 million by a big margin.

Revenue for the quarter rose 1.8 percent on a year-over-year basis to $7.85 billion, marginally above expectations. On the downside, Netflix, Inc. posted earnings of 12 cents per share, which came in well below the consensus, due to a loss associated with a debt held in Europe.

1. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 177

Shares of Meta Platforms, Inc. closed higher on Friday, January 20, after receiving a price-target hike from MKM Partners. The research firm lifted its price target for the social network giant from $140 per share to $155 per share.

MKM Partners analyst Rohit Kulkarni expects ad spending to improve in the coming quarters, with YouTube and Instagram potentially being the top beneficiaries of the increased spending. In addition, Kulkarni kept a “Buy” rating for Meta Platforms, Inc..

Separately, investment management firm Wedgewood Partners also discussed Meta Platforms, Inc. in its third-quarter 2022 investor letter, stating:

“Meta Platforms detracted from performance during the quarter and for most of the year. Meta’s advertising revenue grew slightly (currency-adjusted) over 2021 but was up over +60% compared to 2019 (pre-Pandemic). The Company reported 2.9 billion “daily active users (DAUs)” of its Family of Apps (as of September 2022), up nearly +30% from December 2019. Despite these impressive gains, the stock now trades at absolute levels well below where it traded before the Pandemic. Much of the market’s concern revolves around slowing revenue growth and aggressive reinvestment. It is now quite evident that there was a tremendous pull-forward of demand for many businesses and services over the past couple of years. The normalization of revenue growth from that pull-forward is hardly an existential crisis. Further, while Meta’s profit margins have fallen below pre-Pandemic levels, the business likely hired well in excess of what it needed because it assumed the Pandemic induced growth would continue. Meta has plenty of room to moderate its expense base and drive significant value by repurchasing shares at today’s historically depressed multiples.”

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