In this article, we will discuss the 10 stocks whose price targets were recently raised by analysts. If you want to see more such stocks on the list, go directly to Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets.
05. Cintas Corporation (NASDAQ:CTAS)
Upside Potential: 13%
On March 28, Truist Securities revised its outlook on Cintas Corporation (NASDAQ:CTAS), a prominent player in the uniform and business services industry. They raised the price target for Cintas Corporation (NASDAQ:CTAS) from $660 to $775 while maintaining a buy rating on the stock. This upward adjustment indicates a 13% upside potential compared to the stock’s current market price of $660.00 as of April 1. Cintas Corporation (NASDAQ:CTAS) operates within the broader business services sector, providing specialized products and services such as uniforms, restroom supplies, safety products, and facility services to businesses across various industries. Truist Securities pointed out Cintas Corporation (NASDAQ:CTAS) commitment to innovation and technology adoption, which positions the company to capitalize on emerging opportunities and stay ahead of competitors in the rapidly evolving business services landscape. Overall, Truist Securities’ bullish stance on Cintas reflects their confidence in the company’s ability to deliver sustained growth and generate value for shareholders over the long term. The upward revision in the price target signifies their optimistic assessment of Cintas Corporation (NASDAQ:CTAS) fundamentals and future prospects, making it an attractive investment opportunity for investors seeking exposure to the business services sector.
04. The Walt Disney Company (NYSE:DIS)
Upside Potential: 19%
On March 28, Needham, a leading financial services firm, adjusted its outlook on The Walt Disney Company (NYSE:DIS), a major player in the entertainment and media industry. They increased the price target for The Walt Disney Company (NYSE:DIS) from $120.00 to $145.00 while reaffirming a buy rating on the stock. This upward revision indicates a significant 19% upside potential compared to the stock’s current market price of $121.11 as of April 1. The Walt Disney Company (NYSE:DIS) operates within the broader entertainment and media sector, encompassing segments such as theme parks, media networks, studio entertainment, and direct-to-consumer streaming services. Needham’s decision to raise the price target and maintain a buy rating reflects their positive assessment of The Walt Disney Company (NYSE:DIS) future growth prospects and overall performance within the entertainment industry. Needham’s bullish stance on The Walt Disney Company (NYSE:DIS) reflects their confidence in the company’s ability to navigate challenges and capitalize on opportunities in the rapidly evolving entertainment landscape. The upward adjustment in the price target signifies their optimistic outlook for Disney’s long-term growth potential, making it an attractive investment opportunity for investors seeking exposure to the entertainment and media industry.
03. DraftKings Inc. (NASDAQ:DKNG)
Upside Potential: 22%
On March 28, MoffettNathanson adjusted its outlook on DraftKings Inc. (NASDAQ:DKNG), a prominent player in the sports betting and online gaming industry. They increased the price target for DraftKings Inc. (NASDAQ:DKNG) from $52.00 to $55.00 while reiterating a buy rating on the stock. This upward revision suggests a substantial 22% upside potential compared to the stock’s current market price of $44.99 as of April 1. DraftKings Inc. (NASDAQ:DKNG) operates within the broader sports betting and online gaming sector, which has experienced rapid growth and expansion in recent years, fueled by increasing legalization and acceptance of online gambling across various jurisdictions. MoffettNathanson’s decision to raise the price target and maintain a buy rating underscores their positive outlook on DraftKings Inc. (NASDAQ:DKNG) future growth prospects and overall performance within the sports betting industry. MoffettNathanson’s bullish stance on DraftKings Inc. (NASDAQ:DKNG) reflects their confidence in the company’s ability to capitalize on the expanding sports betting market and drive sustained growth over the long term. The upward adjustment in the price target signifies their optimistic outlook for DraftKings Inc. (NASDAQ:DKNG) prospects, making it an attractive investment opportunity for investors seeking exposure to the sports betting and online gaming industry.
Baron Discovery Fund stated the following regarding DraftKings Inc. (NASDAQ;DKNG) in its fourth quarter 2023 investor letter:
“We added to our position in DraftKings Inc. (NASDAQ;DKNG), the leading mobile sportsbook and gaming operator in the U.S. While we lowered our estimates for the fourth quarter due to lower hold in the month of November, it is important to keep in mind that while hold can be volatile from quarter to quarter, the company continues to slowly increase hold over time (primarily because of a higher percentage of the handle being in higher hold “parlay” bets). We continue to be attracted to DraftKing’s dominant market share and the scale advantages that come with this.”
02. Wayfair Inc. (NYSE:W)
Upside Potential: 27%
On March 28, Citi, a renowned financial institution, upheld its positive outlook on Wayfair Inc. (NYSE:W), a leading player in the online home goods and furniture industry. They reiterated their Buy rating on the stock and raised the price target from $73 to $85, implying a substantial 27% upside potential compared to the stock’s current market price of $65.60 as of April 1. Wayfair Inc. (NYSE:W) operates within the competitive landscape of the online home goods and furniture sector, which has seen significant growth and evolution in recent years due to shifting consumer preferences towards online shopping for home furnishings. Citi’s decision to maintain a Buy rating and increase the price target underscores their confidence in Wayfair Inc. (NYSE:W) ability to capitalize on the ongoing trends in e-commerce and home improvement. Citi’s reaffirmation of a Buy rating on Wayfair Inc. (NYSE:W) reflects their positive assessment of the company’s competitive positioning, growth prospects, and execution capabilities within the dynamic online home goods and furniture industry. The upward adjustment in the price target signifies their optimism about Wayfair Inc. (NYSE:W) ability to deliver value for investors in the foreseeable future.
01. Axsome Therapeutics, Inc. (NASDAQ:AXSM)
Upside Potential: 38%
On March 28, Mizuho, a prominent financial institution, increased its price target on Axsome Therapeutics, Inc. (NASDAQ:AXSM), a key player in the pharmaceutical industry. Despite the minimal adjustment from $108.00 to $109.00, they upheld their Buy rating for the company. This adjustment implies a significant 38% upside potential compared to the stock’s current market price of $77.55 as of April 1. Axsome Therapeutics, Inc. (NASDAQ:AXSM) operates in the highly competitive and dynamic pharmaceutical sector, focusing on the development of innovative therapies to address unmet medical needs in various therapeutic areas. Mizuho’s decision to maintain a Buy rating and slightly increase the price target reflects their confidence in Axsome Therapeutics, Inc. (NASDAQ:AXSM) continued growth prospects and potential for value creation for investors. Mizuho’s reaffirmation of a Buy rating and modest increase in the price target for Axsome Therapeutics, Inc. (NASDAQ:AXSM) reflect their positive assessment of the company’s innovative pipeline, strategic partnerships, financial strength, and execution capabilities within the competitive pharmaceutical industry. The upward adjustment in the price target signals Mizuho’s confidence in Axsome Therapeutics, Inc. (NASDAQ:AXSM) potential to deliver value for investors in the coming months and years.
Should you invest $1,000 in Axsome Therapeutics right now?
Before you buy stock in AXSM, consider this:
The Insider Monkey Quarterly Newsletter just identified what we believe are the 14 best stocks for investors to buy now… and AXSM wasn’t one of them. The 14 stocks that made the cut could produce monster returns in the next few months.
Quarterly Newsletter is your easy-to-follow blueprint for building a winning portfolio. It includes stock picks from billionaires, regular updates from hedge fund investor letters, and 14 fresh stock picks each quarter. The Quarterly Newsletter service has more than doubled the return of S&P 500 since 2014.
You can also take a peek at Top 20 Most Unfriendly States in the US and 13 Most Profitable Renewable Energy Stocks.
