Brokerages Revise Scores of U.S. Tech, Pharma and REIT Stocks

Wall Street brokerages issued a wave of rating and price-target revisions on 27 August, concentrating on technology, health-care and real-estate stocks. Canaccord upgraded identity-management firm Okta to Buy and lifted its price target to $120, while KeyBanc raised Advanced Energy Industries’ target to $180 and maintained a Buy recommendation. Arete upgraded GlobalFoundries to Neutral with a $37 objective, and Scotiabank moved Prologis to Sector Perform, increasing its target to $114. In the pharmaceutical sector, HSBC shifted Eli Lilly to Hold from Reduce and boosted its target to $700. Jefferies raised Regeneron’s target to $831, and Deutsche Bank lifted EchoStar to $67. Guggenheim nudged Domino’s Pizza’s objective to $490, and Wells Fargo increased Synopsys to $630. Real-estate investment trusts absorbed the bulk of adjustments from Wells Fargo, which cut Essex Property Trust’s target to $279, reduced Equity Residential to $68 and trimmed Terreno Realty to $60, while lifting Regency Centers to $81 and Host Hotels to $19. Additional REIT moves included Kilroy Realty’s target raised to $40 and Omega Healthcare Investors to $44.