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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) , Wix.com (WIX - Free Report) , and Celsius Holdings (CELH - Free Report) – have all seen favorable upgrades from analysts. Below is a chart illustrating the year-to-date performance of all three, with the S&P 500 blended in as a benchmark.
Image Source: Zacks Investment Research
Let’s take a closer look at how each currently stacks up.
Celsius Holdings
Celsius, a current Zacks Rank #1 (Strong Buy), operates within the functional energy drinks and liquid supplement categories internationally and in the United States. BofA Securities recently raised its PT for CELH shares from $98 to $125 per share.
Image Source: Zacks Investment Research
The upgrade followed better-than-expected results on May 9th; CELH exceeded the Zacks Consensus EPS Estimate by more than 80% and delivered a 15% revenue surprise. As shown below, the company’s revenue growth has been stellar.
In 2022, the company signed a $550 million distribution agreement with heavyweight PepsiCo, which is undoubtedly paying off.
Image Source: Zacks Investment Research
Kellogg’s
Kellogg’s manufactures and markets ready-to-eat cereals and convenience foods, carrying a balanced portfolio of products. JPMorgan raised its PT for Kellogg’s shares from $68 to $72 per share following a beat-and-raise quarter.
In the release, the cereal giant posted a 10% EPS beat and raised guidance for organic-based growth in net sales. Quarterly revenue totaled $4.1 billion, 2.4% above expectations and improving 13% from the year-ago period.
Shares didn’t see much action post-earnings, illustrated by the green arrow circled below.
Image Source: Zacks Investment Research
Similar to other defensive stocks, Kellogg’s shares could entice income-focused investors, with the current 3.4% annual dividend yield sitting well above the Zacks Consumer Staples sector average.
Dividend growth is there, too, with the company carrying a 1.4% five-year annualized dividend growth rate.
Image Source: Zacks Investment Research
Wix.com
Wix.com, a current Zacks Rank #2 (Buy), is a cloud-based web development platform offering solutions that enable consumers to develop customized websites and application platforms. Raymond James upgraded the stock, announcing a PT of $96 per share.
It’s hard to ignore the company’s growth trajectory, with earnings forecasted to jump significantly in its current fiscal year (FY23) and a further 55% in FY24. The projected earnings growth comes on top of forecasted Y/Y revenue climbs of 9.5% in FY23 and 11.7% in FY24.
Image Source: Zacks Investment Research
Analysts have remained bullish for the company’s current fiscal year for some time, with the FY23 EPS Estimate being revised notably higher since the end of May last year. This is illustrated in the chart below.
Image Source: Zacks Investment Research
Bottom Line
Price targets can help investors structure a trade, as they reflect current sentiment around the stock.
And recently, all three stocks above – Kellogg’s (K - Free Report) , Wix.com (WIX - Free Report) , and Celsius Holdings (CELH - Free Report) – have received favorable upgrades from analysts.
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3 Stocks Seeing Recent Analyst Upgrades
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) , Wix.com (WIX - Free Report) , and Celsius Holdings (CELH - Free Report) – have all seen favorable upgrades from analysts. Below is a chart illustrating the year-to-date performance of all three, with the S&P 500 blended in as a benchmark.
Image Source: Zacks Investment Research
Let’s take a closer look at how each currently stacks up.
Celsius Holdings
Celsius, a current Zacks Rank #1 (Strong Buy), operates within the functional energy drinks and liquid supplement categories internationally and in the United States. BofA Securities recently raised its PT for CELH shares from $98 to $125 per share.
Image Source: Zacks Investment Research
The upgrade followed better-than-expected results on May 9th; CELH exceeded the Zacks Consensus EPS Estimate by more than 80% and delivered a 15% revenue surprise. As shown below, the company’s revenue growth has been stellar.
In 2022, the company signed a $550 million distribution agreement with heavyweight PepsiCo, which is undoubtedly paying off.
Image Source: Zacks Investment Research
Kellogg’s
Kellogg’s manufactures and markets ready-to-eat cereals and convenience foods, carrying a balanced portfolio of products. JPMorgan raised its PT for Kellogg’s shares from $68 to $72 per share following a beat-and-raise quarter.
In the release, the cereal giant posted a 10% EPS beat and raised guidance for organic-based growth in net sales. Quarterly revenue totaled $4.1 billion, 2.4% above expectations and improving 13% from the year-ago period.
Shares didn’t see much action post-earnings, illustrated by the green arrow circled below.
Image Source: Zacks Investment Research
Similar to other defensive stocks, Kellogg’s shares could entice income-focused investors, with the current 3.4% annual dividend yield sitting well above the Zacks Consumer Staples sector average.
Dividend growth is there, too, with the company carrying a 1.4% five-year annualized dividend growth rate.
Image Source: Zacks Investment Research
Wix.com
Wix.com, a current Zacks Rank #2 (Buy), is a cloud-based web development platform offering solutions that enable consumers to develop customized websites and application platforms. Raymond James upgraded the stock, announcing a PT of $96 per share.
It’s hard to ignore the company’s growth trajectory, with earnings forecasted to jump significantly in its current fiscal year (FY23) and a further 55% in FY24. The projected earnings growth comes on top of forecasted Y/Y revenue climbs of 9.5% in FY23 and 11.7% in FY24.
Image Source: Zacks Investment Research
Analysts have remained bullish for the company’s current fiscal year for some time, with the FY23 EPS Estimate being revised notably higher since the end of May last year. This is illustrated in the chart below.
Image Source: Zacks Investment Research
Bottom Line
Price targets can help investors structure a trade, as they reflect current sentiment around the stock.
And recently, all three stocks above – Kellogg’s (K - Free Report) , Wix.com (WIX - Free Report) , and Celsius Holdings (CELH - Free Report) – have received favorable upgrades from analysts.