Daily Update - Dec 16, 2022

Selected stock price targets highlights of the day

By: Matthew Otto

Goldman returns to recommend Allegiant

  • Goldman Sachs’ Catherine O’Brien has offered a vote of confidence in Allegiant Travel, reinstating the company as ‘Buy’, with a price target set at $96.

Catherine had been covering ALGT since 2018, but recently took a hiatus since early 2022.


  • Analyst Laura Martin of Needham recently reaffirmed her Buy rating on Magnite and increased the company’s price target from $9 to $15.

At the start of this year, the analyst had drastically reduced their stock forecast from a previous high of $70 to a new projection of only $25 after experiencing two years in which investors continuously showed lack of confidence in the firm’s prospects.

Essex Property Trust

Has declared a regular quarterly cash dividend of $2.20  payable on January 13th 2023.

  • JP Morgan analyst Anthony Paolone has revised their outlook on Essex Property Trust, downgrading to Neutral and adjusting the price target from $284 to $267. Paolone  has kept his stock forecastד above the stock since initiating coverage over ten years ago.


Adobe closed fiscal 2022 with record performance

Reporting Q4 revenue of $4.53 billion and 10% year-over-year growth (14% in constant currency), as well as operating cash flows of $7.84 billion and diluted earnings per share at GAAP ($2.13) & non-GAAP ($3.60) and repurchase of 5 million shares during the quarter.

  • Mizuho’s Gregg Moskowitz raising his from $360 to $370
  • Morgan Stanley’s Keith Weiss raising his target from $337 to $382.
  • BMO analyst Keith Bachman and Deutsche Bank Analyst Brad Zelnick followed suit by increasing their predictions respectively up to a respectable goal of $390 per share as well
  • Piper Sandler’s Brent Bracelin arriving at $380.

Adobe shares have seen a notable downturn, with prices dropping to about half of their year ago value. Although all analysts have been consistently predicting stabilization above the current stock price.

American Electric Power

Received a mixed bag of ratings changes by analysts today.

  • Mizuho’s Anthony Crowdell slightly reduced their price target from $104 to $101, while maintaining the Buy rating.
  • Credit Suisse Nicholas Campanella increased his price target from $87 to $100 and maintained an Outperform stance.
  • BMO’s James Thalacker also upgraded AEP with a new price target of$105 and kept it as an Outperform buy recommendation.



Morgan Stanley and JPMorgan both recently issued changes to their analyst ratings for Prologis.

  • Ronald Kamdem of Morgan Stanley shifted from Overweight to Neutral while raising the price target from $120 to $121.
  • Michael Mueller of JPM maintained a $130 price target.

On December 7th, 2022 PLD declared  a dividend payout of 79¢ per share on the company’s common stock. The payment date is December 30 and it applies to all holders who have their stake registered before close-of-business on the 19th.