Selected Stock Price Target News of the Day: June 22, 2026

By Mathew Auto

Today’s stock price target news covers four analyst moves on three stocks. Stifel raised its target on $CRDO to $350 on Monday morning. Evercore ISI started coverage of the same stock at $325 with an Outperform rating. But the same firm also downgraded $TEL from Outperform to In-Line. It cut the target from $260 to $230. Wells Fargo‘s Hanwen Chang upgraded $OVV from Equal-Weight to Overweight. He raised its target from $57 to $80.

Stifel and Evercore ISI Both Cover Credo Technology on the Same Morning

What Credo Makes

AI data centers rely on the high-speed connectivity hardware Credo Technology Group makes. The company designs active electrical cables, optical DSPs, and SerDes components used inside large GPU clusters. Its products sit at the chip-to-chip signaling layer inside server racks, a small but vital piece of the stack. That layer sets how fast data moves between GPUs during model training and inference. Its cables run at up to 224 Gbps per lane. That is fast enough to matter inside a crowded rack. AI clusters keep growing denser. They pack more GPUs per rack each year, so demand for what Credo makes grows right along with them. Revenue grew 157 percent in fiscal 2026, year over year. Most of the company’s revenue comes from a small number of hyperscaler customers, a narrow but fast-growing group.

The Two Calls

Tore Svanberg at Stifel raised his $CRDO price target from $250 to $350. That was on June 22. He kept a Buy rating, a revision to an existing call. Mark Lipacis at Evercore ISI, though, started brand-new coverage of Credo that same morning. He set an Outperform rating and a $325 price target. Lipacis covers chips and networking gear, spanning two sectors: Technology and Communication Services. Svanberg’s $350 target sits about 8 percent above Lipacis’s $325. That gap is small. The two calls arrived from two different firms. They landed within $25 of each other, a small gap for a fresh coverage start. That spread is not unusual. A new coverage call and a target raise landed on the same day. The two analysts are using different models. They hold different views on near-term revenue pacing.

Credo reported fiscal fourth-quarter results on June 1. Revenue came in at $437 million, ahead of the $432 million Wall Street estimate. Adjusted EPS was $1.16, beating the $1.03 forecast by 13 cents. Year-over-year revenue growth was 157 percent. The company held $1.4 billion in cash and short-term investments at quarter close. That is a solid cushion. Both calls on June 22 came after the market had time to absorb those numbers, three weeks after the print.

Track Records

Of the two analysts, Svanberg holds the higher hit rate on AnaChart. He has 1,206 tracked price targets and ratings across 27 stocks, a deep record. His average price target met ratio is 88.09 percent, though Lipacis sits close behind at 87.14 percent across 887 tracked calls. Lipacis averages 24.28 percent potential upside per call. His targets typically hit within 271 days, a fairly long window. In contrast, Svanberg’s strongest call came on Marvell Technology Group in December 2024, when a $114 target hit within two days for an 18.15 percent gain.

TE Connectivity Price Target: Evercore ISI Cuts Rating on Automotive Weakness

The Business

TE Connectivity makes connectors, sensors, and related parts for cars, factories, aircraft, and data networks. That puts it up against Amphenol and Molex, two names in the same space. TE posted second fiscal quarter 2026 revenue of $4.7 billion, released April 22. That’s up 15 percent on a reported basis, but just 7 percent organically. Adjusted earnings per share came in at $2.73. That is up 24 percent from the prior-year period. The Transportation segment, which includes auto, posted a healthy operating margin near 22 percent. Auto sales in that segment grew 2 percent on a reported basis, but they fell 4 percent organically. The company ships over 500,000 product types across more than 140 countries. It employs about 85,000 people worldwide.

The Downgrade

Amit Daryanani at Evercore ISI downgraded $TEL on June 22. He cut his rating from Outperform to In-Line. He also trimmed the price target from $260 to $230. An In-Line rating there equals a Hold at most other firms. The $230 target implies limited near-term upside from where the stock was trading, a cautious call. Daryanani covers Technology, Industrials, and Energy there. He has followed TE through prior cycles.

Now, TE’s automotive segment has faced pressure from revised EV production targets. Major carmakers cut those targets through 2025 and into 2026. Those revisions trimmed demand forecasts for the connectors and sensors that go into EV platforms. In the most recent quarter, auto sales fell 4 percent on an organic basis. The company pointed to lower EV production schedules at major automakers in the US and Europe. Industrial demand, though, has been mixed rather than uniformly weak. Some end markets are coming back faster than others. Not all of TE’s business runs on the same clock. TE’s industrial arm sells into three areas: factory automation, medical devices, and energy systems. TE posted $4.7 billion in second-quarter revenue and beat overall estimates. Still, the auto organic decline gave Daryanani reason to revisit his near-term outlook for the stock.

Daryanani has 1,586 tracked price targets and ratings across 47 stocks on AnaChart. His average price target met ratio is a high 90.32 percent. Average potential upside runs 29.39 percent, with targets hitting within 367 days. His most recent prior note before this downgrade covered Hewlett Packard Enterprise. That note came on June 2. His 47-stock coverage list is wide. That is a lot for a senior analyst. He actively covers both Technology and Industrials at the same time.

Ovintiv Price Target: Wells Fargo Upgrade Lands Amid Broader E&P Repositioning

The Business

Ovintiv pumps oil and gas across the Permian Basin, the Anadarko Basin, and Canada’s Montney region. The Montney position gives it exposure to cheap natural gas. That resource has drawn more attention as LNG demand grows around the world. The company competes with ConocoPhillips, Devon Energy, and other E&P names in the same basins. The list of rivals is long. Ovintiv was formerly known as Encana Corporation, before the 2020 rebrand.

The Upgrade

In the first quarter of 2026, the company produced 679,000 barrels of oil equivalent per day, across all its fields. Oil and condensate output was 225,000 barrels per day, at the high end of guidance. Total revenue for the quarter came in at $2.5 billion, and cash flow from operations was a solid $1.1 billion. Capital spending, though, was $605 million, at the low end of guidance. For full year 2026, Ovintiv’s own guidance calls for production of 620,000 to 645,000 barrels of oil equivalent a day.

Hanwen Chang at Wells Fargo upgraded $OVV on June 22. He moved Ovintiv from Equal-Weight to Overweight. He also raised the price target from $57 to $80, a 40 percent jump in one move. Leo Mariani at Roth Capital also upgraded five E&P names that same morning. They were ConocoPhillips, APA, Permian Resources, SM Energy, and Magnolia Oil. All five moved from Neutral to Buy. Two firms covered the E&P sector that same morning, right alongside Wells Fargo’s own call. Both pointed to a broader shift at current energy prices.

Geopolitical Context

Shipping through the Strait of Hormuz began picking back up after a US-Iran deal earlier in June. Goldman Sachs and Oxford Economics have flagged a risk. A full return to normal oil flows may take longer than early reports suggested. That uncertainty affects global crude price floors. Still, Ovintiv is a North American producer, with wells in the US and Canada, and it has no direct exposure to Middle Eastern supply disruptions. Ovintiv posted a net loss of $630 million in the first quarter of 2026. That figure included $1.2 billion in non-cash ceiling test impairments. Those are tied to a weaker trailing oil price. Yet cash flow from operations was $1.1 billion for the same quarter. Chang’s prior note before this upgrade covered Viper Energy on May 15. He covers a lot of ground in this sector.

Chang’s Track Record

Chang has 211 tracked price targets and ratings across 15 stocks on AnaChart. His average price target met ratio is 62.76 percent, well below Daryanani’s 90.32 percent on TE, though E&P names respond to factors no single company can control, like the price of oil itself, so that compresses hit rates across the whole sector. His average time to resolution is 107 days. That’s short for energy coverage, since oil prices move fast. Chang covers exploration and production, midstream, and related energy services names at Wells Fargo. His book is broad, though it’s a fraction of Daryanani’s 47-stock coverage list.

AnaChart tracks 661,383 price targets and 759,654 ratings from 7,191 analysts. The database covers 3,754 active analysts and 3,437 retired analysts. It spans 424 brokers, 333 of which are active. The ticker universe spans 6,851 listed stocks and 2,835 delisted names. That history goes back 18 years to 2008.

Track records for every analyst above are on anachart.com. Deeper analysis, including retired analysts going back to 2004 and on-demand research, is at analyst price target dataset.