Although the S&P 500, Dow and Nasdaq have been somewhat mixed on Wednesday, the markets collectively have never been stronger. What has helped push these markets to all-time highs? Earnings and a strong rally in the tech sector have been a big part of this push, not to mention the advancement of the recent tax bill in Congress has spurred some of these gains. Along with these, analysts have helped to shape the outlook of the market and encourage more growth.
24/7 Wall St. has taken a look at some of the biggest analyst calls on Wednesday that are driving stocks and we have included some of the biggest analyst highlights. It’s worth noting that while the consensus analyst price targets have yet to be updated, they are undoubtedly higher.
AeroVironment Inc. (NASDAQ: AVAV) shares were defying selling pressure seen elsewhere after posting an unexpected gain. Two analysts have raised their price targets, but the prior closing price of $43.25 is well under the current share price. Canaccord Genuity raised its price target to $50 from $48, and Piper Jaffray raised its target to $42 from $36. The prior consensus target price had been $41.00, but this impressive gain on Wednesday took the price even further above the consensus target and investors should consider that this is an all-time high for AeroVironment.
Shares of AeroVironment were last seen up about 30% at $56.08, with a 52-week trading range of $24.70 to $58.22.
AutoZone Inc. (NYSE: AZO) recently released its most recent earnings results and now analysts are clamoring to ratchet up their price targets. The premove consensus price target was roughly $690. Barclays raised its target to $800 from $710, Deutsche Bank to $700 from $625, JPMorgan to $815 from $800 and Morgan Stanley to $700 from $585.
Shares of AutoZone recently traded down 1.8% at $699.64. The stock has a 52-week range of $491.13 to $813.70.
First Solar Inc. (NASDAQ: FSLR) just issued its 2018 earnings and sales projections. The firm’s new forecast through 2020 expects to see the production of 14 gigawatts; the previous forecast was closer to 10 gigawatts. First Solar has seen several firms raise their price targets: Cowen to $77 from 460, Deutsche Bank to $75 from $65; JPMorgan to $59 from $58 and Robert W. Baird to $69 from $53.
Shares of First Solar were last seen up over 5% at $64.46, with a $59.76 consensus price target and a 52-week range of $25.56 to $65.43.
HD Supply Holdings Inc. (NASDAQ: HDS) saw a few analysts bolster its position with upgrades after the firm beat expectations in its most recent earnings report. The price target raises included: Raymond James to $42 from $40, RBC to $45 from $40, SunTrust Robinson Humphrey to $42 from $35 and Wells Fargo to $45 from $42.
Shares of HDS were trading at $38.74, with a consensus price target of $38.15 and a 52-week range of $28.97 to $44.73.
L3 Technologies Inc. (NYSE: LLL) just hosted its investor day and projected that it wants to be considered among the top defense firms. Multiple analysts have raised their target prices. RBC raised its rating to Outperform from Sector Perform and its target price to $239 from $202. Other price target hikes were seen as follows: Cowen to $210 from $200, Jefferies to $201 from $188 and JPMorgan to $220 from $205.
Shares of L3 were last seen at $195.39, with a consensus analyst target of $209.50 and a 52-week range of $143.54 to $199.97.
Toll Brothers Inc. (NYSE: TOL) reported earnings on Tuesday morning, and while investors may have been worried initially, analysts seem to have assuaged this with their updated price targets. Several firms have issued new targets, but they show some caution versus the current price. KeyBanc Capital Markets downgraded the stock to Sector Weight from Overweight. Target price hikes were seen as follows: Barclays to $40 from $37, JPMorgan to $48 from $45 KBW to $50 from $47, RBC to $54 from $52 and Wedbush to $45 from $40.
Shares of Toll Brothers were trading up 0.5% at $47.15, with a consensus price target of $45.97 and a 52-week range of $30.45 to $51.08.