Arm Holdings, Nkarta, Elastic, and Hudson Pacific Properties: Analyst Picks Recap
Arm Holdings, Nkarta, Elastic, and Hudson Pacific Properties have recently received attention from analysts. Let’s take a closer look at these analyst picks:
Arm Holdings: Overweight Rating from KeyBanc
KeyBanc initiated coverage on Arm Holdings with an Overweight rating and a price target of $65.00. This comes after several other brokerages assigned buy-equivalent ratings to the chipmaker. KeyBanc believes that Arm is well-positioned to benefit from the increasing complexity of chips and the evolving semiconductor design trends. They anticipate royalty rate expansion and market share gains for Arm as computing requirements become more demanding and complex across various industries. Despite this positive outlook, Arm’s premarket trading showed a 1.1% decline, with shares priced at $57.71.
Nkarta: Strong Buy Upgrade after Partnership Announcement
Nkarta received a Strong Buy upgrade from Raymond James following the company’s partnership announcement with Lupus Therapeutics. This partnership aims to support the evaluation of Natural Killer (NK) cell therapy in Lupus Nephritis. The upgrade led to a more than 112% increase in Nkarta’s shares. Raymond James believes that Nkarta’s NKX019 has a clear market opportunity in Lupus Nephritis, as the requirement for cell persistence is less relevant in autoimmune indications compared to oncology. Raymond James set a price target of $13.00 for Nkarta.
Elastic and Hudson Pacific: Upgrades and Price Target Adjustments
Jefferies upgraded Elastic from Hold to Buy and raised the price target from $75.00 to $100.00. This upgrade caused a more than 1% pre-market rise in Elastic’s shares. Mizuho Securities, on the other hand, upgraded Hudson Pacific Properties from Underperform to Neutral and adjusted the price target from $10.00 to $7.00.
These analyst picks provide valuable insights for investors, highlighting companies with potential growth opportunities. Stay informed with InvestingPro, where subscribers receive news first. Don’t miss out on market-moving headlines – sign up now!
