Tesla (TSLA - Free Report) shares soared in today’s session, adding 10% following a recent upgrade from Morgan Stanley’s Adam Jonas. The updated price target for Tesla shares now sits at $400 per share (street high), up from the previous $250 per share target.
We see analyst upgrades and downgrades daily, commonly coming paired with updated price targets. They can be helpful tools for investors, providing a more structured plan and helping to inject positivity surrounding future performance.
Of course, stocks don’t straightforwardly reach price targets, as unforeseen circumstances can always influence performance. Overall, the shift in sentiment can be seen as a primary takeaway from these upgrades.
Outside of Tesla, several other companies, including McDonald’s (MCD - Free Report) and Owens Corning (OC - Free Report) , have seen recent upgrades among analysts. Let’s take a closer look at each.
Tesla
Tesla’s upgrade was centered around optimism for its custom supercomputer, Dojo, which is expected to generate remarkable value for the EV titan as it continues its push into its ‘Full Self-Driving’ capabilities.
The supercomputer has been under considerable attention for some time now, especially as artificial intelligence (AI) grips the world. It’s a considerably bullish call, with the new $400 per share price target reflecting 53% upside from current levels.
Owens Corning
Owens Corning is a world leader in building materials systems and composite solutions. Goldman Sachs updated its price target for OC shares from $113 per share to $150 per share.
The company has enjoyed positive earnings estimate revisions across the board, helping land the stock into a favorable Zacks Rank #1 (Strong Buy).
Owens Corning recently posted quarterly results well above expectations, exceeding the Zacks Consensus EPS Estimate by more than 25% and delivering a 2% revenue surprise. Shares have been boosted following back-to-back releases, as we can see illustrated below.
McDonald’s
We’re all familiar with McDonald’s, seeing those golden arches at seemingly every turn. Wells Fargo recently upgraded MCD shares to overweight from equal weight, with a $310 per share price target.
Like OC, analysts have become bullish on McDonald’s earnings outlook, with earnings expectations increasing modestly across all timeframes. The stock is currently a Zacks Rank #2 (Buy).
The company is forecasted to post solid growth in its current year, with Zacks Consensus Estimates suggesting 13% earnings growth on 10% higher revenues.
Bottom Line
Price targets can be helpful tools. Of course, it’s critical to note that not all stocks reach these forecasted levels, as unforeseen circumstances can always affect future performance.
Still, the positivity surrounding upgrades can be seen as a solid takeaway. And positivity is precisely what Tesla (TSLA - Free Report) shares enjoyed in today’s session, tacking on 10% in value.
Outside of Tesla, McDonald’s (MCD - Free Report) and Owens Corning (OC - Free Report) have also received recent favorable upgrades.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Tesla (TSLA - Free Report) shares soared in today’s session, adding 10% following a recent upgrade from Morgan Stanley’s Adam Jonas. The updated price target for Tesla shares now sits at $400 per share (street high), up from the previous $250 per share target.
We see analyst upgrades and downgrades daily, commonly coming paired with updated price targets. They can be helpful tools for investors, providing a more structured plan and helping to inject positivity surrounding future performance.
Of course, stocks don’t straightforwardly reach price targets, as unforeseen circumstances can always influence performance. Overall, the shift in sentiment can be seen as a primary takeaway from these upgrades.
Outside of Tesla, several other companies, including McDonald’s (MCD - Free Report) and Owens Corning (OC - Free Report) , have seen recent upgrades among analysts. Let’s take a closer look at each.
Tesla
Tesla’s upgrade was centered around optimism for its custom supercomputer, Dojo, which is expected to generate remarkable value for the EV titan as it continues its push into its ‘Full Self-Driving’ capabilities.
The supercomputer has been under considerable attention for some time now, especially as artificial intelligence (AI) grips the world. It’s a considerably bullish call, with the new $400 per share price target reflecting 53% upside from current levels.
Owens Corning
Owens Corning is a world leader in building materials systems and composite solutions. Goldman Sachs updated its price target for OC shares from $113 per share to $150 per share.
The company has enjoyed positive earnings estimate revisions across the board, helping land the stock into a favorable Zacks Rank #1 (Strong Buy).
Owens Corning recently posted quarterly results well above expectations, exceeding the Zacks Consensus EPS Estimate by more than 25% and delivering a 2% revenue surprise. Shares have been boosted following back-to-back releases, as we can see illustrated below.
McDonald’s
We’re all familiar with McDonald’s, seeing those golden arches at seemingly every turn. Wells Fargo recently upgraded MCD shares to overweight from equal weight, with a $310 per share price target.
Like OC, analysts have become bullish on McDonald’s earnings outlook, with earnings expectations increasing modestly across all timeframes. The stock is currently a Zacks Rank #2 (Buy).
The company is forecasted to post solid growth in its current year, with Zacks Consensus Estimates suggesting 13% earnings growth on 10% higher revenues.
Bottom Line
Price targets can be helpful tools. Of course, it’s critical to note that not all stocks reach these forecasted levels, as unforeseen circumstances can always affect future performance.
Still, the positivity surrounding upgrades can be seen as a solid takeaway. And positivity is precisely what Tesla (TSLA - Free Report) shares enjoyed in today’s session, tacking on 10% in value.
Outside of Tesla, McDonald’s (MCD - Free Report) and Owens Corning (OC - Free Report) have also received recent favorable upgrades.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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