Price targets can be helpful for investors, as they can facilitate a more structured trade with pre-determined exit levels. Of course, it’s important to remember that not all stocks reach analysts’ forecasted levels.
Price targets are based on a variety of factors, including the company's financial performance, industry trends, and overall market conditions.
And recently, three stocks – Kellogg’s (K - Free Report) , Philip Morris International (PM - Free Report) , and Ulta Beauty (ULTA - Free Report) – have all seen favorable upgrades from analysts. Let’s take a closer look at how all three currently stack up.
Kellogg’s
Kellogg’s manufactures and markets ready-to-eat cereals and convenience foods, carrying a balanced portfolio of products. The stock has seen positive earnings estimate revisions, helping land it into a favorable Zacks Rank #2 (Buy). Bernstein upgraded K shares to Market Perform from Underperform with a price target of $62 per share.
The company posted strong results in its latest release, exceeding our consensus EPS estimate by 10% and delivering a positive 2.4% revenue surprise. Kellogg’s revenue growth has remained stable, further reflected in the chart below.
In addition, K shares provide a solid income stream; shares currently yield a solid 3.6% annually, well above the Zacks Consumer Staples sector average. The company has continued to increasingly reward its shareholders throughout the years, as we can see in the chart below.
Philip Morris International
Philip Morris International is a leading international tobacco company working to deliver a smoke-free future, evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. Citi upgraded PM shares from Neutral to Buy with a new price target of $117 per share.
Like Kellogg’s, Philip Morris rewards its shareholders handsomely; the company’s annual dividend presently yields a sizable 5.3%, with the payout growing by nearly 3% over the last five years.
In addition, shares don’t appear stretched regarding valuation, with the current 15.4X forward earnings multiple sitting in line with the five-year median and well below the Zacks Consumer Staples sector average.
Ulta Beauty
Ulta Beauty is a leading beauty retailer in the United States, with a vast product catalog that includes cosmetics, fragrances, skincare, hair care, bath and body products, salon styling tools, and more. Loop Capital upgraded ULTA shares to Buy from Hold with a $520 per share price target.
The company’s 65.6% trailing twelve-month return on equity is undoubtedly worth highlighting, reflecting higher efficiency in generating profits from existing assets relative to peers.
Further, the company continues to repurchase its shares aggressively, reflecting a shareholder-friendly nature. As of April 29th, ULTA had $816.5 million remaining available under the initial $2.0 billion repurchase program unveiled in 2022.
Bottom Line
Price targets can help investors structure a trade, as they reflect current sentiment around the stock. Of course, it’s critical to remember that not all stocks reach analysts’ forecasted levels.
And recently, all three stocks above – Kellogg’s (K - Free Report) , Philip Morris International (PM - Free Report) , and Ulta Beauty (ULTA - Free Report) – have received favorable upgrades from analysts.
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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
Price targets can be helpful for investors, as they can facilitate a more structured trade with pre-determined exit levels. Of course, it’s important to remember that not all stocks reach analysts’ forecasted levels.
Price targets are based on a variety of factors, including the company's financial performance, industry trends, and overall market conditions.
And recently, three stocks – Kellogg’s (K - Free Report) , Philip Morris International (PM - Free Report) , and Ulta Beauty (ULTA - Free Report) – have all seen favorable upgrades from analysts. Let’s take a closer look at how all three currently stack up.
Kellogg’s
Kellogg’s manufactures and markets ready-to-eat cereals and convenience foods, carrying a balanced portfolio of products. The stock has seen positive earnings estimate revisions, helping land it into a favorable Zacks Rank #2 (Buy). Bernstein upgraded K shares to Market Perform from Underperform with a price target of $62 per share.
The company posted strong results in its latest release, exceeding our consensus EPS estimate by 10% and delivering a positive 2.4% revenue surprise. Kellogg’s revenue growth has remained stable, further reflected in the chart below.
In addition, K shares provide a solid income stream; shares currently yield a solid 3.6% annually, well above the Zacks Consumer Staples sector average. The company has continued to increasingly reward its shareholders throughout the years, as we can see in the chart below.
Philip Morris International
Philip Morris International is a leading international tobacco company working to deliver a smoke-free future, evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. Citi upgraded PM shares from Neutral to Buy with a new price target of $117 per share.
Like Kellogg’s, Philip Morris rewards its shareholders handsomely; the company’s annual dividend presently yields a sizable 5.3%, with the payout growing by nearly 3% over the last five years.
In addition, shares don’t appear stretched regarding valuation, with the current 15.4X forward earnings multiple sitting in line with the five-year median and well below the Zacks Consumer Staples sector average.
Ulta Beauty
Ulta Beauty is a leading beauty retailer in the United States, with a vast product catalog that includes cosmetics, fragrances, skincare, hair care, bath and body products, salon styling tools, and more. Loop Capital upgraded ULTA shares to Buy from Hold with a $520 per share price target.
The company’s 65.6% trailing twelve-month return on equity is undoubtedly worth highlighting, reflecting higher efficiency in generating profits from existing assets relative to peers.
Further, the company continues to repurchase its shares aggressively, reflecting a shareholder-friendly nature. As of April 29th, ULTA had $816.5 million remaining available under the initial $2.0 billion repurchase program unveiled in 2022.
Bottom Line
Price targets can help investors structure a trade, as they reflect current sentiment around the stock. Of course, it’s critical to remember that not all stocks reach analysts’ forecasted levels.
And recently, all three stocks above – Kellogg’s (K - Free Report) , Philip Morris International (PM - Free Report) , and Ulta Beauty (ULTA - Free Report) – have received favorable upgrades from analysts.
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
Get the latest research report on PM - FREE
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