Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets

Published October 8, 2023 at 1:24 pm EDT Updated September 7, 2026 at 12:04 pm EDT

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

Barclays Plc suggests that global bonds are likely to continue falling unless there’s a significant decline in equities that renews interest in fixed-income assets, reported Bloomberg. According to analysts led by Ajay Rajadhyaksha, there isn’t a specific yield level that guarantees a sustained bond rally. They highlight that in the short term, a substantial bond rally could occur only if risk assets experience a sharp decline. The note also mentions that the Federal Reserve will persist as a net seller of Treasuries, potentially leading to a rise in the term premium. Additionally, Japanese investors may show a preference for domestic bonds as yields increase. The dollar remained stable on October 5, while West Texas Intermediate crude maintained its position around $84 per barrel, following a retreat observed in the previous session. The plummet in oil prices persists as Brent falls below the $85 mark amid apprehensions about a global growth slowdown impacting consumption. West Texas Intermediate (WTI) witnessed a further decline, dropping below $84 after experiencing a 5.7% slump in Wednesday’s trade. Notably, US data revealed the weakest seasonal gasoline usage in 25 years, contributing to the downward pressure on oil prices. This decline in crude prices closely followed a substantial drop in gasoline prices prompted by a surge in US stockpiles and a decrease in demand.

According to CNBC, in the clash between the International Energy Agency (IEA) and OPEC over peak oil demand, the IEA’s prediction of reaching peak demand by 2030 sparked criticism from OPEC, labeling it as fear-mongering. The dispute reflects the broader tension between climate concerns and energy security, evident at the recent ADIPEC gathering. Oil CEOs argue for a dual approach, claiming their industry is part of the solution. Eni’s CEO, Claudio Descalzi, warns against reducing oil investment, predicting economic repercussions from a supply shortfall. The IEA forecasts peak oil demand before 2030 due to factors like electric vehicles and renewable power. OPEC cites ongoing demand increases but faces climate scientists’ urgency to cut fossil fuel emissions. OPEC’s al-Ghais calls for a balanced approach, investing in both oil and renewables to meet Paris Agreement goals. The debate intensifies at COP28, where leaders address climate action.

On the stock market front, analysts are bullish on energy stocks such as Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX) and Ovintiv Inc. (NYSE:OVV) among many others. Check out the complete article to see the details of these upward revisions in price targets.

Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets

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10. Alphabet Inc. (NASDAQ:GOOGL)

Upside Potential: 8%

On October 4, Bank of America delivered an optimistic outlook on Alphabet Inc. (NASDAQ:GOOGL), raising its price target from $142.00 to $146.00 while maintaining a “Buy” recommendation. This upward adjustment, coupled with the current stock price of $135.24, indicates a 2.1% increase after the announcement. The 2.1% change in the current price following the upgrade underscores an immediate positive market response to Bank of America’s revised target. It signifies that investors react favorably to the heightened expectations for Alphabet Inc. future performance. While this near-term movement is noteworthy, the more substantial implication lies in the near 8% upside potential from the current price to the new target of $146.00. The revised target suggests that Bank of America envisions a considerable growth trajectory for Alphabet Inc., emphasizing confidence in the company’s fundamentals and future prospects. Investors may interpret this upward adjustment as a strong signal of the potential for sustained capital appreciation in Alphabet Inc. stock.

Artisan Global Value Fund made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q2 2023 investor letter:

“Our best performing stocks this quarter were Meta, Alphabet Inc. (NASDAQ:GOOG) and Heidelberg Materials. The rise in Alphabet’s share performance was primarily driven by the AI frenzy. Earlier this year, there were some doubts about Alphabet’s ability to compete with OpenAI’s ChatGPT product. This was a bit ironic since Alphabet has been using AI technology to improve its Google search results and advertising business for years. Indeed, the technology that underpins OpenAI’s ChatGPT actually came from Alphabet more than five years ago. But sometimes the market needs a reminder, and Alphabet provided tangible evidence of its capabilities. At a recent developer conference, it launched Bard, a consumer-oriented generative AI version of its search engine, as well as several other concrete examples of how AI could improve its current business. As with Meta, the long-term implications of AI on Alphabet’s business model are still far from certain. But we do believe that it is a technology leader in this field and will participate in whatever direction the technology develops.”

09. Saia, Inc. (NASDAQ:SAIA)

Upside Potential: 11%

On October 4, Susquehanna exhibited heightened optimism for Saia, Inc. (NASDAQ:SAIA) within the logistics and transportation industry by revising its price target from $320.00 to $450.00 while maintaining a “Neutral” rating. This upward adjustment signifies a substantial 11% potential upside from the prevailing stock price of $404.73. The adjustment in the price target indicates Susquehanna’s positive outlook on Saia, Inc. growth prospects and its ability to navigate the complexities of the logistics sector effectively. The neutral rating suggests a balanced assessment of Saia, Inc. current performance, acknowledging stability even as the price target is raised. Investors keen on assessing the investment landscape within the logistics industry may find this revised target particularly noteworthy. The 11% difference between the new target and the current price highlights the perceived upside potential, serving as a crucial metric for those considering positions in Saia, Inc.. While the immediate 0.5% increase in the current stock price following the target revision is noteworthy, the broader implication lies in the substantial upside potential. This combination of short-term movement and long-term potential provides investors with a multifaceted view, encouraging them to consider both immediate market responses and the overarching growth prospects for Saia, Inc. in their strategic decision-making.

TimesSquare U.S. Small Cap Growth Strategy made the following comment about Saia, Inc. in its Q2 2023 investor letter:

“Saia, Inc. (NASDAQ:SAIA), a transportation services company, surged ahead by 26% and posted a solid quarter with higher-than-expected earnings. Better pricing offset a volume decline. Saia has opened four new terminals year-to-date.”

08. Linde plc (NYSE:LIN)

Upside Potential: 19%

On October 4, Linde plc (NYSE:LIN) received a favorable endorsement from Citigroup as the financial institution raised its price target for the company from $448.00 to $450.00, maintaining a “Buy” recommendation. This adjustment comes in the context of the industrial gases industry, reinforcing positive sentiments for Linde plc (NYSE:LIN) future performance. The current stock price stands at $378.61, marking a 1.6% increase following the target revision. The elevated price target signals Citigroup’s confidence in Linde’s growth trajectory, suggesting the potential for further appreciation in the company’s market value. The “Buy” recommendation aligns with a bullish outlook, emphasizing the attractiveness of Linde plc (NYSE:LIN) stock as an investment opportunity. Investors, particularly those interested in the industrial gases sector, may find this updated target price a compelling factor in their decision-making process. The 1.6% increase in the current stock price reflects an immediate positive market response to Citigroup’s revised outlook, indicating the resonance of the upgraded target among investors. As market participants evaluate their portfolios, the combination of the 1.6% immediate price change and the 18.7% upside potential from the current price to the new target of $450.00 provides a holistic perspective.

Madison Funds made the following comment about Linde plc (NYSE:LIN) in its fourth-quarter 2022 investor letter:

“Linde plc (NYSE:LIN) stock was strong during the fourth quarter following a solid third quarter. Linde remains well positioned with the passage of the Inflation Reduction Act and energy transition with carbon dioxide sequestration opportunities, gasification services, and various hydrogen projects. Linde and Schlumberger announced that they entered into a collaboration of carbon capture, utilization, and sequestration (CCUS) projects to accelerate decarbonization solutions across industrial and energy sectors. The collaboration will combine decades of experience in carbon dioxide capture and sequestration. The collaboration will focus on hydrogen and ammonia production where carbon dioxide is a by-product. The International Energy Agency estimates that 6 Gigatons of carbon dioxide will need to be abated with CCUS in order to reach net zero by 2050. During the quarter, Linde also announced that it became a signatory to the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative. As a signatory, Linde has committed to aligning its strategy and activities with the UNGC’s Ten Principles across human rights, labor, environment, and anti-corruption.”

07. Halliburton Company (NYSE:HAL)

Upside Potential: 20%

Citigroup raised the target for Halliburton Company (NYSE:HAL) stock on October 4 from $42.00 to $46.00, reflecting analyst Scott Gruber’s optimistic view on the company’s future earnings and operational efficiency. Gruber’s “Buy” rating is underpinned by his expectation that Halliburton’s investments in electronic fracking, coupled with high-quality execution, will result in market share gains and enhance Completion and Production (C&P) margins. Additionally, Gruber anticipates that Halliburton Company commitment to upgrading tools and improving operational efficiency, especially in remote operations, will contribute to the expansion of Drilling and Evaluation (D&E) margins. Another key factor influencing Gruber’s recommendation is his positive forecast for Halliburton Company EBITDA in the coming years. He foresees a 6% increase in 2024 EBITDA to $5.55 billion and a 5% rise in 2025 EBITDA to $6.17 billion. Despite projecting a capex of $1.43 billion for the next year, Gruber expects Halliburton’s Free Cash Flow (FCF) conversion to reach nearly 50%. Taking these factors into account, Gruber has revised the target price for Halliburton Company stock to $46, applying a 7.5x multiple to the 2025 EBITDA.

Carillon Eagle Mid Cap Growth Fund made the following comment about Halliburton Company in its Q1 2023 investor letter:

“Halliburton Company (NYSE:HAL) provides equipment and services to the global energy industry. Investor concerns surrounding the impact that recent softness in crude oil and natural gas prices would have on the overall level of production activity weighed on the company’s stock in the quarter. However, the recent commitment by the Organization of the Petroleum Exporting Countries (OPEC) to reduce production to balance global supply and demand should support healthy levels of activity specifically within North American shale, where Halliburton is a market leader. Over the longer term, we believe the company also should lay a pivotal role in helping exploration and production companies navigate ongoing productivity declines.”

06. Occidental Petroleum Corporation (NYSE:OXY)

Upside Potential: 23%

On October 4, BS Group increased its target for Occidental Petroleum Corporation (NYSE:OXY) from $72.00 to $74.00, maintaining a “Neutral” rating. Despite this upward revision, the current stock price for Occidental Petroleum Corporation is $60.04, reflecting a 3.9% decline after the target adjustment. The augmented target by UBS Group suggests a certain level of optimism regarding Occidental Petroleum Corporation future performance. The “Neutral” rating indicates a balanced perspective, recognizing stability in Occidental Petroleum Corporation current circumstances, even with the revised target. However, the 3.9% reduction in the current stock price prompts consideration of short-term market dynamics that may have influenced this decline. Investors need to delve into potential factors contributing to this immediate movement. This development is pertinent for investors, particularly those interested in the energy sector, as it provides insights into both the positive long-term outlook implied by the target increase and the short-term market dynamics affecting the current stock price. As investors contemplate their strategies, combining the 3.9% immediate price decrease and the potential 23.3% upside from the current price to the new target of $74.00 offers a nuanced perspective. This dual consideration encourages investors to navigate both the complexities of short-term market movements and the broader growth narrative for Occidental Petroleum Corporation.

05. Exxon Mobil Corporation (NYSE:XOM)

Upside Potential: 28%

On October 4, UBS Group raised its target for Exxon Mobil Corporation from $139.00 to $143.00, maintaining a “Buy” rating. This adjustment within the energy industry underscores UBS Group’s positive outlook on Exxon Mobil Corporation future prospects. However, despite the increased target, the current stock price for Exxon Mobil Corporation is $111.50, reflecting a 3.7% decline after the target revision. The heightened target from UBS Group indicates a bullish sentiment regarding Exxon Mobil Corporation potential for growth. The “Buy” recommendation suggests a strong endorsement of Exxon Mobil Corporation as an attractive investment. Nevertheless, the 3.7% reduction in the current stock price warrants attention. This development holds significance for investors, particularly those in the energy sector, offering insights into both the positive long-term outlook implied by the target increase and the short-term market forces affecting the current stock price. As investors formulate their strategies, combining the 3.7% immediate price decrease and the potential 28.8% upside from the current price to the new target of $143.00 provides a comprehensive perspective. This dual consideration encourages investors to navigate both the intricacies of short-term market movements and the broader growth narrative for Exxon Mobil Corporation.

04. Chevron Corporation (NYSE:CVX)

Upside Potential: 29%

On October 4, UBS Group raised its target price for Chevron Corporation from $209.00 to $210.00 while maintaining a “Buy” rating. This adjustment in the target reflects UBS Group’s positive outlook on the future prospects of Chevron Corporation within the energy industry. Despite this upward revision, the current stock price for Chevron Corporation stands at $163.03, indicating a modest 2.3% decline following the target adjustment. UBS Group’s increased target suggests a favorable sentiment regarding the growth potential of Chevron Corporation, and the “Buy” recommendation serves as a strong endorsement of it as an attractive investment opportunity. As investors strategize, the combination of the immediate 2.3% price decrease and the potential 28.8% upside from the current price to the new target of $210.00 provides a comprehensive perspective. This dual consideration encourages investors to navigate both the nuances of short-term market movements and the broader growth narrative for Chevron.

Carillon Eagle Growth & Income Fund made the following comment about Chevron Corporation in its Q2 2023 investor letter:

“Chevron Corporation (NYSE:CVX) stock also traded lower as global oil prices declined in response to fears of an economic slowdown. Energy stocks were the second-worst-performing sector in the quarter.”

03. Ovintiv Inc. (NYSE:OVV)

Upside Potential: 46%

As of October 4, UBS Group has set a higher target for Ovintiv Inc., elevating it from $62.00 to $64.00 while affirming a “Buy” rating. This adjustment, situated within the dynamic realm of the energy sector, reflects UBS Group’s optimistic projection for Ovintiv Inc. forthcoming opportunities. Despite this upgraded target, the current stock price for Ovintiv stands at $43.85, revealing a 4.3% retreat subsequent to the target adjustment. The escalated target from UBS Group signals a favorable sentiment regarding Ovintiv Inc. growth trajectory, potentially influenced by the ever-evolving trends within the energy industry, strategic maneuvers by the company, or broader market dynamics. The steadfast “Buy” recommendation is a testament to UBS Group’s unwavering confidence in Ovintiv Inc. as a compelling investment within the dynamic energy landscape.

Smead Value Fund made the following comment about Ovintiv Inc. in its first quarter 2023 investor letter:

“Our biggest detractors were mainly a function of the decline in oil and gas prices. Ovintiv Inc. (NYSE:OVV), which absorbed some of our Continental Resources proceeds and Conoco Phillips (COP), declined the most. Bank of America (BAC) got hammered by the Silicon Valley Bank meltdown and fears about our financial system. We’ve owned BAC for over ten years and it has outperformed the rest of our portfolio.”

02. monday.com Ltd. (NASDAQ:MNDY)

Upside Potential: 55%

Tigress Financial has significantly raised its target for monday.com Ltd. (NASDAQ:MNDY) from $210.00 to $240.00 while maintaining a “Buy” rating. This upward adjustment underscores Tigress Financial’s heightened optimism about the future performance of monday.com Ltd.. Despite the increased target, the current stock price for monday.com Ltd. stands at $155.05, reflecting a notable 2.0% increase following the target revision. The augmented target from Tigress Financial indicates a strong bullish sentiment regarding monday.com Ltd. growth trajectory, likely driven by factors such as stellar operational performance, strategic initiatives, or favorable market trends. The reiterated “Buy” recommendation reinforces Tigress Financial’s conviction that Monday.com presents an attractive investment opportunity. This development holds significance for investors, especially those with an interest in the technology sector, providing insights into both the immediate market sentiment and the long-term growth narrative for monday.com Ltd.. As investors shape their strategies, the combination of the 2.0% immediate price increase and the potential 54.8% upside from the current price to the new target of $240.00 presents a comprehensive perspective.

01. Intel Corporation (NASDAQ:INTC)

Upside Potential: 56%

On October 4, Northland Securities increased its target for Intel Corporation (NASDAQ:INTC) from $45.00 to $56.00 while maintaining an “Outperform” rating. This adjustment reflects Northland Securities’ heightened confidence in Intel Corporation future prospects. Despite the increased target, the current stock price for Intel Corporation is $35.93, indicating a modest 0.7% increase following the target revision. The elevated target from Northland Securities underscores a positive sentiment regarding Intel’s growth potential, likely influenced by strategic initiatives, technological advancements, or other market dynamics. The continued “Outperform” rating signifies Northland Securities’ belief that Intel remains positioned for strong performance. The 0.7% increase in the current stock price suggests a positive market response to the raised target, indicating investor optimism about Intel’s trajectory. The potential 55.7% upside from the current price to the new target of $56.00 is significantly high and appealing.

ClearBridge Large Cap Growth Strategy made the following comment about Intel Corporation in its Q4 2022 investor letter:

“A third approach to return generation is purchasing idiosyncratic businesses that largely control their own destiny. Intel Corporation (NASDAQ:INTC), which we purchased in the first quarter on the premise that it would develop a leading domestic foundry business, has struggled with execution missteps and product delays. We are maintaining the position to provide ongoing exposure to semiconductors.”

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