Wedbush Just Raised its Price Target on These 7 Stocks: August 12, 2024

Core Insights - Wedbush has shifted its focus from high-profile tech stocks to other sectors, with notable price target adjustments in health care, real estate, consumer discretionary, and financial services [1][2] Group 1: Apellis Pharmaceuticals (APLS) - Wedbush maintained a "neutral" rating on APLS and raised its price target from $38 to $41 per share following promising Phase 3 clinical trial data for Empaveli, which could lead to regulatory approval for treating rare kidney diseases [3][4] Group 2: Beazer Homes USA (BZH) - Wedbush reiterated a "neutral" rating on BZH while increasing the price target from $33 to $41 per share, driven by mixed quarterly earnings results but positive updates on community growth and balance sheet improvement [6][7] Group 3: Maplebear (CART) - The price target for Maplebear was raised from $35 to $38 per share, maintaining a "neutral" rating, following a quarterly earnings beat and a solid outlook for the current quarter, with the new target approximately 19% above current trading prices [8][9] Group 4: Cyberark Software (CYBR) - Wedbush increased the price target for Cyberark from $285 to $300 per share after a strong quarterly earnings report, with analysts highlighting significant upside potential despite high valuation at 118.9x forward earnings [11][12] Group 5: Expedia Group (EXPE) - The price target for Expedia was raised from $125 to $130 per share while maintaining a "neutral" rating, following a revenue and earnings beat, although guidance updates fell short of expectations [13][14] Group 6: Under Armour (UAA) - Wedbush raised the price target for Under Armour from $8 to $8.50 per share, reiterating an "outperform" rating, as the company beat expectations in its previous quarter, indicating potential for further upside [16][17] Group 7: UWM Holdings (UWMC) - The price target for UWM Holdings was increased from $7 to $8.50 per share while maintaining a "neutral" rating, reflecting expectations of a stronger housing market, although current valuations suggest limited near-term upside [18][19]