Several companies have recently seen adjustments to their stock price targets from leading financial institutions. Here's a quick rundown of the latest analyst actions, as reported by Benzinga:
Kimbell Royalty Partners (NYSE:KRP)
Bank of America has lowered its target price for Kimbell Royalty Partners (NYSE:KRP) from $16.00 to $14.00. The brokerage currently has an "underperform" rating on the energy company's stock, suggesting caution for investors. Despite the downgrade, Bank of America's target price still indicates a potential upside of 1.99%. It will be interesting to see how the energy company reacts to this rating.
Sempra (NYSE:SRE)
BMO Capital Markets has decreased its price target for Sempra (NYSE:SRE) from $92.00 to $78.00. However, the brokerage maintains an "outperform" rating on the utilities provider's stock. This suggests that while the analysts see potential for growth, they have tempered their expectations. BMO Capital Markets' target price indicates a potential upside of 8.32%.
Myriad Genetics (NASDAQ:MYGN)
Piper Sandler has lowered its price target for Myriad Genetics (NASDAQ:MYGN) from $14.00 to $11.50. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's target price points to a potential upside of 11.22% from the company's previous close, suggesting a moderate level of optimism. Investors will want to keep an eye on this stock.
Okta (NASDAQ:OKTA)
Truist Financial has lifted its price target for Okta (NASDAQ:OKTA) from $92.00 to $100.00. Despite this increase, the brokerage currently has a "hold" rating on the stock. Truist Financial's price objective indicates a potential downside of 14.02% from the company's previous close. The hold rating suggests that analysts are waiting for more data before making a stronger recommendation.
These analyst updates provide valuable insights for investors. However, it's important to remember that these are just opinions and should be considered alongside other factors when making investment decisions.
"Analyst ratings are just one piece of the puzzle," warns financial advisor, Sarah Jones. "Investors should always do their own research and consider their individual risk tolerance."
Stay tuned for more updates on these and other companies as the market evolves.