Top Wall Street analysts initiated coverage on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
- BMO Capital analyst Jack Matten initiated coverage on Prudential Financial, Inc. (NYSE:PRU) with an Underperform rating and announced a price target of $101. Prudential Financial shares closed at $117.35 on Wednesday. See how other analysts view this stock.
- HC Wainwright & Co. analyst Kevin Dede initiated coverage on Exodus Movement, Inc. (NYSE:EXOD) with a Buy rating and announced a price target of $50. Exodus Movement shares closed at $41.00 on Wednesday. See how other analysts view this stock.
- Piper Sandler analyst Yasmeen Rahimi initiated coverage on Bright Minds Biosciences Inc. (NASDAQ:DRUG) with an Overweight rating and announced a price target of $93. Bright Minds Biosciences shares closed at $33.35 on Wednesday. See how other analysts view this stock.
- Raymond James analyst Daniel Magder initiated coverage on Electrovaya Inc. (NASDAQ:ELVA) with a Strong Buy rating and announced a price target of $4.5. Electrovaya shares closed at $2.52 on Wednesday. See how other analysts view this stock.
- Roth MKM analyst Chip Moore initiated coverage on Innventure, Inc. (NASDAQ:INV) with a Buy rating and announced a price target of $16. Innventure shares closed at $12.42 on Wednesday. See how other analysts view this stock.
Considering buying PRU stock? Here's what analysts think:
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Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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