© Reuters Today’s Important Price Target Changes
By Davit Kirakosyan
Barclays raised its price target on Coinbase (NASDAQ:) to $77 from $73, maintaining an Equal Weight rating, noting that exchange volumes, app download data, and crypto asset prices continued to soften in the quarter, but rising rates are set to be a material tailwind.
Morgan Stanley cut the price target on Tesla, Inc. (NASDAQ:) to $350 from $383 while reiterating an Overweight rating following the company’s Q3 delivery miss. The analysts believe the factors that drove Tesla’s weaker-than-expected Q3 production and deliveries could continue to present headwinds into Q4 as well as into 2023.
Morgan Stanley lowered the price target on Alphabet (NASDAQ:) to $135.00 from $145.00 while maintaining an Overweight rating. The analysts expect the company to miss consensus revenue and EBIT in Q3, but note they are buyers on weakness.
Morgan Stanley lowered the price target on Meta Platforms Inc (NASDAQ:) to $205.00 from $225.00 while maintaining an Overweight rating. According to the analysts, the company’s revenue and Opex can drive a higher trading range, but engagement clarity is needed to drive a breakout.
Mizuho Securities lowered the price target on PPG Industries (NYSE:) to $148.00 from $149.00 while maintaining a Buy rating. Shares closed more than 3% lower today after the company updated its H2 expectations.
Piper Sandler lowered its price target on Eastman Chemical (NYSE:) to $90.00 from $103.00 while maintaining its Neutral rating.
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