Quanta Services Falls Nearly 4% After Mizuho Sets $684 Price Target

Quanta Services (NYSE: PWR) shares fell about 3.8% after Mizuho analyst Maheep Mandloi set a $684 price target on the stock.

With Quanta trading around $692.09, the new target sits slightly below the current share price, implying roughly 1% downside.

The relatively cautious valuation appears to be weighing on the stock, suggesting Mizuho sees limited near-term upside after Quanta’s strong share-price performance.

NetApp Rises 2% as Evercore and Cantor Fitzgerald Upgrade the Stock

NetApp (NASDAQ: NTAP) shares rose about 2.1% after receiving multiple bullish analyst actions.

Evercore upgraded NetApp to Outperform from In Line and set a $300 price target. Cantor Fitzgerald also upgraded the stock to Overweight, adding to the positive analyst sentiment.

Separately, Loop Capital analyst Ananda Baruah initiated a $300 price target on NetApp.

With the stock trading around $233.17, the $300 targets imply roughly 29% upside. The cluster of upgrades appears to be supporting the shares as analysts take a more constructive view of NetApp’s growth and valuation outlook.

Kroger Rises After BNP Paribas Exane Upgrades Stock to Outperform

Kroger (NYSE: KR) shares moved higher after BNP Paribas Exane analyst Robert Joyce upgraded the stock to Outperform from Neutral and set a $72 price target.

The new target represents meaningful upside from Kroger’s recent trading level around $59.80 and signals a more constructive view on the grocery retailer’s earnings and valuation outlook.

The upgrade adds a bullish catalyst for the stock as investors continue to assess Kroger’s operating performance, margin trends and ability to generate steady cash flow in a competitive food retail environment.

BNP Paribas Exane’s move to Outperform appears to be supporting the stock’s gain in Wednesday trading.

Poland Leaves Interest Rate Unchanged at 3.75%

Poland’s central bank left its benchmark interest rate unchanged at 3.75% in October, matching market expectations and the previous rate.

U.S. Stocks Mostly Higher as Services Activity Remains Strong but Price Pressures Rise

U.S. stocks traded mostly higher on Monday as services-sector data continued to point to solid economic growth. The S&P 500 gained 0.43% to 7,755.84 and the Nasdaq rose 0.73% to 27,388.08, while the Dow Jones slipped 0.17% to 51,092.08.

The S&P Global Services PMI came in at 58.8 in September, slightly above the 58.7 consensus, while the Composite PMI held at 58.4. Both readings indicate robust expansion in U.S. private-sector activity.

The ISM Non-Manufacturing PMI was somewhat softer, declining to 54.9 from 55.4 and missing expectations of 55.1. However, the employment component improved to 50.1 from 47.8, moving back into expansion territory and signaling better hiring conditions within the services sector.

Inflation pressures were the main concern. The ISM Non-Manufacturing Prices Index climbed to 74.0 from 72.6, indicating that service-sector input costs remain elevated.

The market reaction suggests investors are balancing resilient economic growth against persistent inflation pressures. Strong activity is supportive for earnings expectations, particularly for growth stocks, but the rise in the prices index could limit expectations for aggressive Federal Reserve rate cuts.

Genmab Stock Rises 3.2% as Guggenheim Raises Price Target Following Positive Rina-S Data

Genmab shares rose 3.2% to $35.87 after Guggenheim raised its price target to $54 from $45 while maintaining a Buy rating.

The more bullish view follows encouraging Phase 1/2 RAINFOL-01 data for rinatabart sesutecan, or Rina-S, in platinum-resistant ovarian cancer. Among 109 treated patients, Rina-S produced a confirmed objective response rate of 45.9%, including five complete responses, with a median duration of response of 12.1 months. Median progression-free survival reached 9.5 months.

Importantly, antitumor activity was observed regardless of folate receptor alpha expression levels, including patients with low or no detectable expression, potentially broadening the addressable patient population. Activity was also seen regardless of prior treatment with mirvetuximab.

The safety profile appeared manageable, with treatment discontinuation due to adverse events reported in 5.5% of patients and no observed safety signals for ocular toxicity, peripheral neuropathy, interstitial lung disease or stomatitis.

The results strengthen the outlook for Rina-S as Genmab advances four Phase 3 trials across ovarian and endometrial cancer. Guggenheim’s higher target likely reflects increased confidence in the asset’s clinical and commercial potential as the program moves deeper into late-stage development.

Vaxcyte Stock Surges 46.4% as Guggenheim Raises Price Target After Positive VAX-31 Phase 3 Data

Vaxcyte shares jumped 46.4% to $82.68 after Guggenheim raised its price target to $125 from $116 while maintaining a Buy rating.

The move followed positive topline results from the pivotal Phase 3 OPUS-1 trial of VAX-31, the company’s 31-valent pneumococcal conjugate vaccine candidate. VAX-31 met all prespecified primary endpoints across the age groups studied compared with Prevnar 20 and Capvaxive.

Among adults aged 50 and older, all 28 serotypes shared with PCV20 and/or PCV21 met the trial’s noninferiority threshold. The three serotypes unique to VAX-31, along with cross-reactive serotype 20B, met the superiority criterion. VAX-31 also met the primary immunobridging endpoint across all 321 serotype comparisons in adults aged 18 to 49.

Safety was another positive, with VAX-31 showing a profile similar to PCV20 and PCV21 and no vaccine-related serious adverse events reported.

The sharp rally reflects increased confidence that VAX-31 could become a broad-spectrum competitor in the adult pneumococcal vaccine market. Vaxcyte expects additional Phase 3 data from OPUS-2 and OPUS-3 in the first half of 2027, with a planned Biologics License Application submission in the first half of 2028.

GlobalFoundries Stock Falls 4.2% After BNP Paribas Exane Downgrade

GlobalFoundries shares fell 4.2% to $48.07 after BNP Paribas Exane downgraded the stock to Neutral from Outperform.

Analyst Karl Ackerman maintained a $51 price target, leaving relatively limited upside from the current share price.

Probable reasons behind the downgrade include a more balanced risk-reward profile after recent performance, ongoing softness in parts of the broader semiconductor cycle, and uncertainty around the pace of recovery in end markets such as automotive, industrial and communications.

GlobalFoundries remains strategically positioned in specialty and mature-node semiconductor manufacturing, where demand is generally less tied to leading-edge AI chips than peers focused on advanced-node production. That can provide some stability, but it can also limit participation in the strongest areas of semiconductor growth.

The stock’s decline suggests investors are focusing on the move to a more cautious rating and the modest gap between the current share price and BNP Paribas Exane’s $51 target.

Credo Technology Stock Falls 4.5% as Stifel Cuts Price Target to $310

Credo Technology shares fell 4.5% to $208.89 after Stifel Nicolaus lowered its price target on the stock to $310 from $350 while maintaining a Buy rating.

The reduced target suggests a more cautious view on near-term valuation, even though Stifel continues to see meaningful upside from current levels.

Probable reasons for the target cut include Credo’s elevated valuation after a strong run in AI-related semiconductor stocks, the possibility of more normalized growth expectations, and execution risks tied to scaling high-speed connectivity products for AI data centers.

Credo remains positioned to benefit from continued investment in AI infrastructure, particularly demand for high-speed optical and electrical connectivity solutions used to link accelerators, servers and networking equipment.

The stock’s decline suggests investors are focusing on the lower valuation target despite the unchanged Buy rating, with expectations for future growth remaining high and therefore leaving the shares sensitive to any moderation in outlook.