In this article, we discuss the 5 stocks receiving price-target cut from analysts. If you want to see more such stocks on the list, go directly to Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks.
05. Albemarle Corporation (NYSE:ALB)
Price Reaction after the Price Target Cut: -2.89 (-2.35%)
On January 30, UBS Group revised its price target for Albemarle Corporation (NYSE:ALB) downwards from $142.00 to $137.00, retaining a neutral rating on the stock. Despite this adjustment, the market price of Albemarle Corporation (NYSE:ALB) experienced a decline of 2.35%, settling at $120.38 by the close of trading. Albemarle Corporation (NYSE:ALB) operates in the specialty chemicals industry, which is influenced by factors such as raw material costs, global demand for specialty chemicals, and regulatory changes. The decision by UBS Group to lower the target price reflects a reassessment of Albemarle’s potential performance and market conditions within the specialty chemicals sector. Despite the decrease in the stock price, UBS Group maintains a neutral stance, indicating a cautious outlook on Albemarle Corporation (NYSE:ALB) near-term prospects. Stakeholders will likely monitor how Albemarle Corporation (NYSE:ALB) addresses the challenges outlined in the updated assessment and whether its strategic initiatives are aligned with market dynamics. The revised target price serves as a reference point for investors, providing insights into Albemarle Corporation (NYSE:ALB) perceived valuation and potential for growth within the competitive specialty chemicals landscape.
04. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)
Price Reaction after the Price Target Cut: -2.16 (-2.35%)
On January 30, Robert W. Baird adjusted its price target for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), reducing it from $127.00 to $104.00 while affirming an “outperform” rating for the company. Despite this revision, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) market price experienced a decline of 2.35%, settling at $89.62 by the close of trading. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) operates in the biotechnology industry, where developments in drug research, regulatory approvals, and competitive dynamics heavily influence stock performance. The decision by Robert W. Baird to lower the price target reflects a reassessment of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) growth prospects and market conditions within the biotechnology sector. Despite the decrease in the stock price, Robert W. Baird maintains a positive outlook, indicating confidence in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) long-term potential. The revised price target serves as a benchmark for investors, offering insights into BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) perceived valuation and its trajectory within the competitive biotechnology landscape.
Aristotle Atlantic Large Cap Growth Strategy made the following comment about BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in its Q1 2023 investor letter:
“BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) develops drugs with a focus on rare disease treatments. Its portfolio consists of several commercial products and multiple clinical and preclinical product candidates for the treatment of various diseases. The company’s Vimizim, Naglazyme and Aldurazyme drugs treat versions of the life-threatening genetic condition mucopolysaccharidosis (MPS), caused by a rare enzyme deficiency that prevents patients from metabolizing certain complex carbohydrates. Another drug, Kuvan, is approved to treat enzyme deficiency phenylketonuria (PKU). Additional medicines include Brineura and Palynziq.
We see BioMarin, anchored by their durable enzyme-based therapies, poised to grow from new indications, primarily Voxzogo, the first-approved treatment for Achondroplasia, and Roctavian, a drug awaiting FDA approval for the treatment of Severe Hemophilia A, with gene therapy and the ability to address a large chronically managed patient population. Additionally, the company has an early pipeline outside of these major indications in rare diseases within the usculoskeletal/metabolic, hematology, cardiovascular and CNS therapeutic focus areas.”
03. Boston Properties, Inc. (NYSE:BXP)
Price Reaction after the Price Target Cut: -2.21 (-3.06%)
On January 30, Barclays revised its price target for Boston Properties, Inc. (NYSE:BXP), lowering it from $65.00 to $64.00, while maintaining an “equal weight” rating for the stock. Following this adjustment, Boston Properties, Inc. (NYSE:BXP) experienced a decrease in market price of 3.06%, closing at $70.05 by the end of the trading day. Boston Properties operates in the real estate investment trust (REIT) industry, where factors such as interest rates, economic conditions, and property demand significantly impact stock performance. The decision by Barclays to reduce the price target suggests a reassessment of Boston Properties’ valuation and market prospects within the REIT sector. Despite the decrease in stock price, Barclays retains a neutral stance, indicating a balanced view of Boston Properties, Inc. (NYSE:BXP) performance relative to its peers. Investors may interpret the revised price target as Barclays’ response to evolving market conditions and the company’s ability to navigate challenges in the commercial real estate sector. Stakeholders will likely monitor Boston Properties, Inc. (NYSE:BXP) execution of its business strategy and asset management initiatives in light of Barclays’ updated assessment. The revised price target serves as a reference point for investors, providing insights into Barclays’ valuation of Boston Properties and its expectations for the company’s performance going forward. As such, it contributes to the ongoing dialogue surrounding Boston Properties, Inc. (NYSE:BXP) position within the dynamic landscape of the REIT industry.
02. Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)
Price Reaction after the Price Target Cut: -0.5500 (-10.66%)
On January 30, Mizuho revised its price target for Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN), reducing it from $8.00 to $7.00, while maintaining a “neutral” rating for the company. Following this adjustment, Maxeon Solar Technologies experienced a significant decrease in market price, plummeting by 10.66% and closing at $4.61 by the end of the trading day. Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) operates in the renewable energy industry, where factors such as government policies, technological advancements, and global energy demand play pivotal roles in stock performance. Mizuho’s decision to lower the price target indicates a reevaluation of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) valuation and growth prospects within the renewable energy sector. Despite maintaining a neutral stance, the downward adjustment suggests caution regarding the company’s near-term outlook and market sentiment. Investors may interpret Mizuho’s revised price target as a reflection of evolving market conditions and potential headwinds facing Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN). Stakeholders will likely scrutinize the company’s operational performance, innovation efforts, and strategic initiatives in response to Mizuho’s updated analysis. The adjusted price target serves as a benchmark for investors, offering insights into Mizuho’s valuation of Maxeon Solar Technologies and its expectations for the company’s future trajectory. Consequently, it contributes to the ongoing discourse surrounding Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) position within the dynamic landscape of the renewable energy industry.
01. Calix, Inc. (NYSE:CALX)
Price Reaction after the Price Target Cut: -11.40 (-25.70%)
On January 30, Rosenblatt Securities adjusted its price target for Calix, Inc. (NYSE:CALX), reducing it from $57.00 to $45.00, while affirming a “buy” rating for the company. Following this alteration, Calix experienced a significant decline in market price, dropping by 25.70% and concluding at $32.98 at the close of the trading day. Calix, Inc. (NYSE:CALX) operates within the technology sector, specifically focusing on telecommunications equipment and services, where factors such as technological innovation, market competition, and regulatory dynamics influence stock performance. Rosenblatt Securities’ decision to lower the price target indicates a reassessment of Calix, Inc. (NYSE:CALX) valuation and growth potential within the telecommunications industry. Despite maintaining a positive outlook with a “buy” rating, the downward revision suggests concerns regarding Calix’s near-term prospects and market sentiment. Investors are likely to scrutinize Calix, Inc. (NYSE:CALX) operational performance, product innovation, and strategic initiatives in response to Rosenblatt Securities’ updated assessment. The revised price target serves as a benchmark for stakeholders, offering insights into Rosenblatt Securities’ valuation of Calix, Inc. (NYSE:CALX) and its expectations for the company’s future growth trajectory. The adjusted price target contributes to ongoing discussions about Calix, Inc. (NYSE:CALX) position within the rapidly evolving telecommunications landscape, guiding investors in their decision-making process. As such, it underscores the importance of thorough analysis and diligence when evaluating investment opportunities within the technology sector.
Carillon Tower Advisers made the following comment about Calix, Inc. (NYSE:CALX) in its Q3 2022 investor letter:
“Another strong performer during Q3 was Calix, Inc. (NYSE:CALX). Calix stock rebounded sharply in the quarter after reporting stellar earnings. They offer next-gen fiber broadband solutions to telecommunication companies primarily for rural markets. The broadband buildout in rural markets is still in the early innings, and the company’s subscription model offers great visibility going forward.”
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