Gotrade News - Wall Street rolled out a wave of analyst upgrades and price target hikes on Monday, 5 May 2026. Sandoz, SSAB, and Copart took center stage as major brokerages projected double-digit upside.
Key Takeaways
- Barclays upgraded Sandoz to Overweight with a CHF 75 target, implying 20% upside.
- Morgan Stanley added SSAB to its Top Pick list with a new SKr 94 target.
- Goldman Sachs flagged caution as hedge funds trimmed Magnificent 7 positions.
Barclays Lifts Sandoz to Overweight
Barclays upgraded Sandoz from Equal Weight to Overweight on 5 May 2026. The CHF 75 price target was maintained, implying around 20% upside from the CHF 62.54 share price.
The upgrade was driven by accelerating sales growth and a compelling biosimilar pipeline. Sandoz shares had declined 15% during March and April before the rating change.
Barclays raised its EPS estimates for 2026-2031, projecting 12% EPS CAGR over 2027-2031. The figure marks an upgrade from the prior 9% growth guidance.
Revenue is forecast to expand from $12.25 billion in 2026 to $16.93 billion by 2031. Core EBITDA margins should grow from 22.9% to 27.7% over the same period.
Morgan Stanley Hikes SSAB Target
Morgan Stanley upgraded SSAB to Overweight from Equal-Weight and added the steelmaker to its Top Pick list. The price target jumped to SKr 94 from SKr 73 previously.
The upgrade rests on three pillars: U.S. plate market strength, energy cost advantages, and valuation disconnect. SSAB EBITDA is expected to grow from SKr 10.19 billion in 2025 to SKr 14.01 billion in 2026.
Morgan Stanley believes the market has not fully priced in the combination of U.S. plate momentum and reduced energy cost exposure. Execution risks remain around the Oxelösund EAF facility and Luleå transformation projects.
Copart Holds Moderate Buy Consensus
Copart (CPRT) carries a Moderate Buy rating from 12 Wall Street analysts. The breakdown shows 5 Strong Buys, 6 Holds, and 1 Strong Sell per Barchart data on 5 May 2026.
The average price target of $47.22 implies 41.8% upside from current levels. The street-high target of $65 suggests potential for a 95.3% gain.
Copart shares fell after Q2 2026 revenue declined 3.6% year-over-year to $1.1 billion. JP Morgan cut its target to $34 from $45 on 23 February, holding a Neutral rating.
Goldman Sachs Sounds a Caution Note
Amid the upgrade enthusiasm, Goldman Sachs flagged elevated market positioning. Its equity positioning gauge climbed to 1.7, the highest level since late 2024.
Hedge funds began trimming exposure to Magnificent 7 stocks including Apple, Microsoft, and Nvidia. The shift was visible through QQQ ETF selling activity.
Goldman views the rising sentiment indicator as a caution signal. While levels remain below historical extremes, the move points to crowded positioning in megacap technology.
Home Depot and Consumer Sector Context
Bank of America also issued a bullish rating on Home Depot (HD) according to Seeking Alpha on 5 May 2026. Analyst optimism extended into the home improvement retail segment.
Morgan Stanley separately reported that 90% of its covered Indian consumer stocks beat the Sensex in April 2026. Varun Beverages led with a 34% gain, followed by Trent at 26% and Nestlé at 24%.
Conclusion
Wall Street showed conviction through upgrades on Sandoz, SSAB, and a bullish call on Home Depot. Yet Goldman Sachs caution on hedge fund positioning reminds investors to watch concentration risk in megacap technology names.
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References
- Investing.com, "Morgan Stanley Names SSAB a Top Pick", 5 May 2026
- Investing.com, "Barclays Upgrades Sandoz to Overweight", 5 May 2026
- Barchart, "Do Wall Street Analysts Like Copart Stock", 5 May 2026
- Seeking Alpha, "Goldman Risk Gauge Signals Caution", 5 May 2026
- Seeking Alpha, "Home Depot Attracts a Bull Rating from Bank of America", 5 May 2026
- Investing.com, "Morgan Stanley on India Consumer Stocks", 5 May 2026
