Major Price Target Changes on Tuesday

As investment banks and industry analysts spend their days reviewing the performance of stocks across the marketplace, price targets are constantly changing. Going into Tuesday, several price targets changed as the markets fluctuated in response to the Russian invasion of Ukraine. Raymond James started the day by cutting the price target on Ciena Corporation ($CIEN@US) from $8 to $75 as Ciena shares fell sharply. Telsey Advisory Group cut the price target on Capri Holdings Limited ($CPRI@UK) from $73 to $60, and Mizuho ($MFG@Japan) cut the price target for Squarespace ($SQSP@US) from $35 to $22. While these prices are not definitive, they indicate that certain stocks are not performing well in a bearish market. Meanwhile, JP Morgan ($JPM@US) increased its price target for Cara Therapeutics ($CARA@US) from $17 to $20. Credit Suisse ($CS@Switzerland) increased its price target on DT Midstream ($DTM@US) from $55 to $58, and Telsey increased its price target on Bed Bath & Beyond ($BBBY@US) from $15 to $18. Finally, at press time, Whiting Petroleum Corporation ($WLL@US) was trading at just under $85 after Keybanc increased its price target on the firm from $86 to $95.