Analysts Are Increasing Price Targets of These 10 Stocks

Published July 25, 2023 at 7:25 am EDT Updated September 7, 2026 at 12:00 pm EDT

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

As the Federal Reserve approaches the end of its rate-hiking cycle, investors are reconsidering shares of dividend-rich companies. The Fed’s aggressive rate increases have lifted short-term Treasury yields above 5%, providing income-seeking investors with more options after a decade of historically low rates. This has affected popular dividend-paying stocks, which were favored during lower-rate periods. With the expectation that the Fed will not raise rates significantly further, dividend payers are becoming appealing again, especially if Treasury yields decline. According to Reuters, some investors are shifting their focus to financial and energy stocks, anticipating an economic soft landing rather than a painful recession. A resurgence of interest in dividend-paying stocks is evident in inflows to the ProShares S&P 500 Dividend Aristocrats ETF, which tracks companies with a consistent history of increasing dividends. However, S&P 500 companies have been less generous to investors this year, with lower oil prices leading some energy companies to cut back on payouts. Despite this, investors seek out dividend-paying stocks as a source of total return, betting on potential faltering bond yields while stocks continue to perform well. Additionally, the appeal of dividend payers is attributed to a broadening of the market rally from tech and growth stocks into other sectors, such as energy and financials.

On the real estate front, the market is grappling with challenges in both residential and commercial segments, primarily influenced by higher interest rates. Despite this shared obstacle, distinct factors are driving residential and commercial real estate prices differently. Residential real estate has experienced a remarkable surge, with median home prices in the U.S. rising by 50.7% in 2.5 years to a record high of $413,800 in June 2022. Although home prices slightly pulled back to just over $396,000 in May 2023, there are concerns about low inventory, reluctance to switch to higher-rate mortgages, declining affordability, and tighter credit availability affecting the market. On the other hand, the commercial real estate market faces challenges due to the pandemic’s impact, leading to high office vacancy rates in major cities. According to Wells Fargo Advisors, small businesses relying on downtown foot traffic are suffering, and new lease rates are declining in many markets. Consequently, the commercial real estate sector’s outlook remains unfavorable, with expectations of further deterioration in the near-to-intermediate term, warranting caution for investors and stakeholders.

Oil prices have been holding steady near a three-month high, largely driven by positive signals from China’s efforts to bolster its economic growth and the continued tightening of the global crude market. China, as the world’s largest crude oil importer, plays a crucial role in influencing oil prices, and recent indications from the country’s top leaders have provided support to the market. One contributing factor to the bullish outlook for oil prices is the US crude’s notable achievement of closing above its 200-day average. This technical milestone has added to the positive sentiment among investors and analysts, signaling potential further upside in the oil market. Specifically, Brent crude futures have been maintaining a price above $82 a barrel in the London market, reflecting a substantial 4% gain over the last three trading sessions. Such upward momentum suggests growing confidence among traders in the short-term prospects for oil prices.

China’s commitment to supporting its real estate sector and boosting consumption is another significant development influencing the oil market. The country’s leaders have demonstrated their intention to provide support to the property market without resorting to major fiscal or monetary loosening measures. This approach is likely aimed at maintaining stability while addressing key economic challenges and supporting sustainable growth. The combination of China’s supportive measures and the ongoing tightening of the global crude market is contributing to the overall stability and optimism in the oil market. Investors and industry experts are closely monitoring these developments as they shape the trajectory of oil prices in the near future. The steady performance near a three-month high and the recent bullish sentiment provide some reassurance to market participants and may encourage further investment in the oil sector. However, uncertainties persist, and geopolitical factors and supply-demand dynamics will continue to play a crucial role in determining the future trajectory of oil prices.

On the stock market front, analysts are bullish on tech stocks such as Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT) along with healthcare stock Abbott Laboratories (NYSE:ABT). Check out the complete article to see the details of these upward revisions in price targets.

Analysts Are Increasing Price Targets of These 10 Stocks

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10. Intel Corporation (NASDAQ:INTC)

Upside Potential: N/A

Intel Corporation (NASDAQ:INTC) holds the title of the world’s leading chip manufacturer. However, the company has recently faced challenges in maintaining its technological advantage. Many experts are closely monitoring Intel’s decision to adopt a new approach of allowing other companies to use its manufacturing plants and actively pursuing new technologies. The outcome of this strategy is eagerly awaited to determine if it will bring positive outcomes for the company.

On July 24, Mizuho analyst Rakesh raised the price target for Intel Corporation from $30 to $33. This adjustment comes as Rakesh cites an overall improvement in the semiconductor sector’s price-earnings multiple, indicating a positive trend in the industry. Rakesh’s rationale for the price target increase includes the potential for Intel Corporation to benefit from the ongoing AI (Artificial Intelligence) revolution. While he believes that Intel Corporation could generate some additional revenue from this technological wave, he also notes that the company’s growth may be more subdued compared to its competitors in the semiconductor market. The revised price target of $33 suggests that Mizuho sees potential for Intel Corporation stock to appreciate further in the future, based on its assessment of the company’s performance and its position within the semiconductor industry.

09. Johnson & Johnson (NYSE:JNJ)

Upside Potential: 2%

Johnson & Johnson is an American multinational corporation founded in 1886 that is known for developing medical devices, pharmaceuticals, and consumer packaged goods. On July 24, Barclays raised the price target for Johnson & Johnson to $175 per share, up from the previous target of $171. This upward revision in the price target indicates Barclays’ positive outlook on Johnson & Johnson stock and its potential for further growth. The new price target of $175 reflects Barclays’ belief that Johnson & Johnson shares have the potential to reach that level in the future, signaling their confidence in the company’s fundamentals and future performance.

ClearBridge Large Cap Value Strategy made the following comment about Johnson & Johnson in its first quarter 2023 investor letter:

“The tech-dominated quarter was a headwind for both defensive and cyclical sectors, with shares of health care holdings such as UnitedHealth Group (UNH), Elevance (ELV) and Johnson & Johnson (NYSE:JNJ) declining after a strong 2022.”

08. Airbnb, Inc. (NASDAQ:ABNB)

Upside Potential: 8%

Airbnb, Inc. (NASDAQ:ABNB) is a travel services company that provides lodging options to travelers who are not interested in staying at hotels. It is one of the more popular companies and one that has disrupted the real estate sector. It enables property owners to temporarily rent out their properties to travelers and other users. The firm was set up in 2007 and is based in San Francisco, California. On July 24, KeyBanc analyst Justin Patterson significantly increased the projected price target for Airbnb, Inc. shares, raising it from $135 to $160. The basis for this optimistic adjustment lies in the observed resurgence of travel expenditures, indicating a reacceleration in the travel industry. As a result of their analysis and confidence in the company’s potential, KeyBanc maintained an overweight or buy rating on Airbnb, Inc. stock. This update from KeyBanc demonstrates a strong belief in Airbnb, Inc. growth prospects, indicating that the company is poised to benefit from the rebounding travel sector.

07. Baker Hughes Company (NASDAQ:BKR)

Upside Potential: 12%

On July 24, Baker Hughes Company (NASDAQ:BKR) received a favorable review from analyst Chase Mulvehill, who is associated with BofA Securities. In his recent assessment of Baker Hughes Company, Mulvehill reaffirmed his positive stance on the company by maintaining a Buy rating on its stock. Furthermore, he made an upward revision to the price target, raising it from $38 to $40. This suggests that he expects the stock to perform even better in the future and has confidence in its potential to provide attractive returns to investors. Mulvehill’s positive review and price target increase highlight his belief in Baker Hughes Company growth prospects and ability to navigate its industry’s challenges and opportunities.

ClearBridge Mid Cap Growth Strategy made the following comment about Baker Hughes Company in its Q4 2022 investor letter:

“We established a new position in Baker Hughes Company (NASDAQ:BKR), in the energy sector, which provides technological support and services to energy and industrial companies including oilfield services, oilfield equipment, turbomachinery and process solutions and digital solutions. We believe management’s focus on capital discipline has helped streamline their strategic focus and placed greater emphasis on improving cash generation and returns. Additionally, Baker Hughes’ overwhelming market share in the gas turbine and compression business creates a long-term growth runway due to the global buildout of renewable energy projects and rising liquefied natural gas capital expenditures.”

06. Domino’s Pizza, Inc. (NYSE:DPZ)

Upside Potential: 12%

Domino’s Pizza, Inc. (NYSE:DPZ) is a multinational pizza company that operates through three segments – U.S. Stores, International Franchises, and Supply Chain. On July 24, Citi raised the price target for Domino’s Pizza, Inc. to $431 per share, up from the previous target of $405. This upward adjustment in the price target suggests that Citi analysts anticipate Domino’s Pizza, Inc. stock to experience further growth and have a positive outlook on the company’s performance. The new price target of $431 indicates the level at which Citi analysts believe the stock could reach in the future, reflecting their confidence in the company’s fundamentals and potential for future earnings growth. This increase in the price target could be an indicator of Citi’s belief in Domino’s Pizza, Inc. ability to capitalize on opportunities, outperform its competitors, and deliver value to its investors.

LRT Capital made the following comment about Domino’s Pizza, Inc. in its October investor letter:

“Domino’s Pizza, Inc. is the world’s largest franchisor of pizza restaurants with over 13,800 locations in 85 countries. As for any restaurant operator, the key metric to consider for Domino’s Pizza is same-store-sales (SSS) growth. Growing same-store-sales are ultimately how a restaurant business increases earnings from its existing assets. The company continues to impress in this criterion with SSS having grown in the U.S. for 40 consecutive quarters, and an astounding 109 straight quarters internationally.

Two-thirds of the company’s stores are currently abroad, and the international segment remains the company’s largest growth opportunity, as the penetration of convenient fast food remains lower abroad than in the United States. Pizza is a product with exceptionally high gross margins, one that “translates” well across different cultures, and one that literally “travels well”, not losing much of its appeal when delivered in a cardboard box. The rise of 3rd party delivery platforms such as Uber Eats, Doordash and Grubhub is challenging the pizza category as it has expanded the number of choices consumers have for convenient takeout. However, the economics of food delivery remain challenging for most restaurants and platforms alike25, while pizza delivery continues to be highly profitable. Regardless of how the “delivery wars” currently playing out end, Domino’s financial results show little impact of this increased competition, and the company continues to deliver exceptional financial performance…” (Click here to read the full text)

05. Abbott Laboratories (NYSE:ABT)

Upside Potential: 15%

Abbott Laboratories is an Illinois, United States-based healthcare company. On July 24, Barclays analyst Matt Miksic increased the price target for Abbott Laboratories to $132 per share, up from the previous target of $127. Despite the upward adjustment in the price target, Miksic maintains an Overweight rating on Abbott Laboratories stock, indicating his continued positive outlook on the company’s performance. This upward revision in the price target suggests that the analyst expects Abbott Laboratories stock to experience further growth and believes it has the potential to outperform the market and its peers. The new price target of $132 indicates a level at which the analyst believes the stock could reach in the future, reflecting confidence in the company’s fundamentals, products, and potential for future earnings growth. As an “Overweight” rating typically suggests a recommendation to buy more of the stock compared to its benchmark weighting, this reaffirms Miksic’s confidence in Abbott Laboratories future prospects and potential for sustained success in its industry.

Here’s what Polen Capital said about Abbott Laboratories in its Q1 2023 investor letter:

“As stated below in the portfolio activity section, Abbott Laboratories (NYSE:ABT) is expected to see roughly $6 billion in COVID test sales evaporate this year, creating a headwind for margins and underlying earnings per share. As long-term owners of the business, these test sales were never part of our original investment case. The core business, our primary focus, has a clear path of growing high single digits in 2023 with durable growth beyond, in our view. We believe the current price of 23x NTM P/E , while reasonable, is also misleading considering earnings this year will be artificially depressed because of the drop in COVID testing sales. On normalized earnings, the price is lower. We anticipate underlying EPS growth of at least low-teens over the next three to five years.

Lastly, we trimmed Abbott Laboratories, bringing it back to a more average position size and to also fund our increase in Thermo Fisher. Abbott is entering a year in which the company is expected to see approximately $6bn in COVID-19 test sales disappear, thus, creating a headwind for margins and EPS. That said, the core business has a clear path to growing high single digits in FY23. EPS grew at a 20% CAGR from 2019-2022, far beyond our expectations when we initiated our investment. Now, we expect a more normal growth rate of low teens EPS beyond this year. Further, management’s adeptness at allocating capital continues to impress us. We expect Abbott to drive top line growth without heavily investing in R&D and SG&A this year— management effectively “front-loaded” those investments in 2021 and 2022 when COVID test sales created a bolus of cash. We believe this should allow for leverage on the operating margin going forward. Combined, Abbott and Thermo Fisher now represent 7% of the Portfolio.”

04. Mastercard Incorporated (NYSE:MA)

Upside Potential: 16%

Mastercard Incorporated (NYSE:MA) is a financial technology company that provides transaction processing and other payment-related products and services. On July 24, Barclays analyst Raimo Lenschow conveyed an optimistic outlook on Mastercard Incorporated and raised the price target from $437 to $470. This upward revision in the price target signifies Barclays’ strong belief in the company’s future performance and growth prospects. Lenschow’s positive assessment of Mastercard Incorporated indicates that he expects the company to continue performing well and potentially outperform the market. The new price target of $470 suggests that Barclays sees the stock’s value reaching that level in the future, reflecting their confidence in Mastercard Incorporated fundamentals and potential for further appreciation.

LVS Advisory made the following comment about Mastercard Incorporated in its second quarter 2023 investor letter:

“We have owned Mastercard Incorporated on and off since inception. We re-initiated the position in summer 2022 during the broader market sell-off. The stock traded off to an attractive valuation and we believed the tailwinds from a reopening of international travel still had legs. This was a small portfolio position and the stock has appreciated in the year we have owned it. The stock’s valuation is once again rich and the tailwinds from international travel and consumer spending appear to be tapering. We sold the position because we believe other opportunities within our existing portfolio will generate superior returns.”

03. Apple Inc. (NASDAQ:AAPL)

Upside Potential: 17%

Wells Fargo analyst Aaron Rakers, on July 24, made some positive adjustments to the price targets for shares of Apple Inc. while keeping their existing ratings unchanged. The new price target for Apple Inc. stock has been raised from $210 to $225, reflecting the analyst’s optimistic outlook on the company’s performance. These revisions were made in anticipation of Apple Inc. third-quarter earnings announcement scheduled for August 3. In his analysis, Rakers emphasized the favorable prospects for the PC industry, asserting that the inventory correction phase has been successfully completed. This positive development allows him to shift the focus towards a stabilizing demand environment as we progress into the second half of 2023 and the first half of 2024. As a result, he maintains an optimistic stance on Apple Inc. future performance. Wells Fargo’s Overweight rating, which remained unchanged, indicates the analyst’s confidence in Apple Inc. ability to outperform its competitors and the broader market. This suggests that Rakers expects Apple Inc. stock price to experience growth and deliver favorable returns to investors.

Wedgewood Partners Large Cap Focused Growth Fund made the following comment about Apple Inc. in its second quarter 2023 investor letter:

“Apple Inc. (NASDAQ:AAPL) contributed to positive performance during the quarter despite declining revenues and operating earnings mostly driven by difficult comparisons in its Mac segment. iPhone sales grew as supply chain bottlenecks seem to be in the rearview mirror, with component prices falling. The Company also highlighted the torrid growth of its App Store ecosystem, which saw over $1.1 trillion in billings on the platform during 2022, more than double the billings in 2019. Apple has tremendous leverage across the mobile economy due to the App Store’s mission-critical relevance to both developers and users. We continue to hold Apple as a top weighting in the portfolio because this asset-light ecosystem drives sustainably high returns on invested capital.

In January 2007 Steve Jobs introduced the iPhone at Macworld in San Francisco. At the time of that momentous day, Jobs had not planned for third-party developers to build native software applications (apps) for the iPhone’s internal operating software (iOS). However, later that year, bowing to considerable pressure from the developer community, Jobs relented. When the second-generation iPhone (3G) was released in the summer of 2008, Apple announced the opening of the iPhone App Store at the same time. According to the Company in July 2009, after just the first 12 months since the launch of the App Store, 1.5 billion apps were downloaded from 65,000 apps from more than 100,000 developers from 77 countries.

That early symbiotic relationship between the iPhone (hardware) and the App Store (software) completely redefined the utility of the iPhone (think Intel and Microsoft). Too bad American Express coined the phrase, “Don’t Leave Home Without It.” That perfectly describes the utility of the modern iPhone. Heck, for years now, most of us won’t walk from the kitchen to the garage without it…” (Click here to read the full text)

02. Microsoft Corporation (NASDAQ:MSFT)

Upside Potential: 20%

On July 24, DA Davidson increased its price target on Microsoft Corporation from $350 to $415 per share. This significant upward adjustment in the price target is attributed to Microsoft Corporation strong leadership and prominence in the field of artificial intelligence (AI). The firm’s positive assessment of Microsoft Corporation AI capabilities indicates its confidence in the company’s ability to leverage this cutting-edge technology to drive growth and innovation. As a result, DA Davidson maintains its buy rating on Microsoft Corporation shares, suggesting that they believe the stock has the potential to outperform the market and deliver favorable returns to investors. The new price target of $415 represents the level at which DA Davidson expects Microsoft Corporation stock to potentially reach in the future, reflecting their optimistic outlook for the company’s performance and growth prospects.

The Ithaka Group made the following comment about Microsoft Corporation in its second quarter 2023 investor letter:

“Microsoft Corporation (NASDAQ:MSFT) builds best-in-class platforms and provides services that help drive small business productivity, large business competitiveness, and public-sector efficiency. Microsoft’s products include operating systems, cross-device productivity applications, server applications, software development tools, video games, and business-solution applications. The company also designs, manufactures, and sells devices, including PCs, tablets, and gaming/entertainment consoles that all integrate with Azure, its cloud computing service. In the quarter Microsoft’s stock appreciated on the back of excitement surrounding the company’s positioning in the generative AI market and its ability to monetize the coming wave of corporate investment in supercomputing and AI.”

01. Coterra Energy Inc. (NYSE:CTRA)

Upside Potential: 30%

Coterra Energy Inc. (NYSE:CTRA) is a Texas-based energy company involved in hydrocarbon exploration. On July 24, Stifel analyst Derrick Whitfield increased the price target for Coterra Energy Inc. to $35 per share, up from the previous target of $34. Alongside this positive adjustment, Whitfield reaffirmed his Buy rating on Coterra Energy Inc. stock, indicating his continued confidence in the company’s future performance. The upward revision in the price target suggests that the analyst expects Coterra Energy Inc. stock to experience further appreciation and believes it has the potential to outperform the market. The new price target of $35 represents a level Whitfield believes the stock could reach in the future, reflecting his positive outlook on the company’s fundamentals and growth prospects.

You can also take a look at 10 Best Retail Dividend Stocks to Buy and 12 Highest Yielding Dow Jones Dividend Stocks