Thursday brought a fresh batch of analyst coverage initiations, and if you're keeping score at home, the bulls dominated. Five companies landed on Wall Street's radar with new ratings, and four of them got the coveted Buy stamp.
Here's what analysts are saying about these newly covered names:
Cantor Fitzgerald analyst Deepak Mathivanan kicked things off by initiating coverage on Reddit Inc. (RDDT) with a Neutral rating and a $240 price target. That's actually below where Reddit shares closed Wednesday at $255.50, suggesting some caution after the stock's recent run.
TD Cowen analyst Jared Levine launched coverage on Intuit Inc. (INTU) with a Buy rating and a $802 price target. That represents meaningful upside from the stock's Wednesday close at $651.15, making it one of the more optimistic calls in today's roundup.
Seaport Global analyst Gerrick Johnson initiated coverage on Polaris Inc. (PII) with a Buy rating and set a price target of $83. Polaris shares finished Wednesday at $69.22, giving Johnson's target about 20% upside potential.
UBS analyst Nicholas Holowko started coverage on Bread Financial Holdings Inc. (BFH) with a Buy rating and a $92 price target. Bread Financial shares closed at $79.98 on Wednesday, leaving room for appreciation if Holowko's thesis plays out.
Rounding out the list, Stifel analyst Parker Lane initiated coverage on Tyler Technologies Inc. (TYL) with a Buy rating and a $550 price target. Tyler Technologies shares ended Wednesday at $448.23, making this another bullish call with solid upside baked in.
The pattern here is pretty clear: analysts launching fresh coverage see more opportunities than risks in most of these names. Whether they're right is another question entirely, but at least we know where Wall Street is placing its bets.
