After-hours movers: Adobe Systems slumps; Rivian, Ulta Beauty gain

Citi Closes 30-Day Upside Catalyst Watch on Madrigal Pharmaceuticals (MDGL)

Citi analyst David Lebowitz reiterated a Buy rating and $389.00 price target on Madrigal Pharmaceuticals (NASDAQ: MDGL).

The analyst comments "We are closing our Catalyst Watch for Madrigal following the approval of Rezdiffra (resmetirom) for the treatment of noncirrhotic nonalcoholic steatohepatitis (NASH, also known as metabolic... More

Adobe (ADBE) PT Lowered to $511 at HSBC, 'AI raises competitive threat'

HSBC analyst Stephen Bersey lowered the price target on Adobe (NASDAQ: ADBE) to $511.00 (from $557.00) while maintaining a Hold rating.

The analyst comments "Maintain Hold and cut TP to USD511.00 (USD557.00): We value Adobe using a PE multiple-based valuation metric. We apply our... More

Adobe (ADBE) PT Lowered to $630 at CFRA

CFRA analyst Angelo Zino lowered the price target on Adobe (NASDAQ: ADBE) to $630.00 (from $700.00) while maintaining a Buy rating.

The analyst comments "We reduce our 12-month target to $630 from $700, on P/E of 30x our CY 25 EPS view, below historical. We keep... More

Adobe (ADBE) PT Lowered to $610 at BMO Capital

BMO Capital analyst Keith Bachmann lowered the price target on Adobe (NASDAQ: ADBE) to $610.00 (from $660.00) while maintaining a Outperform rating.

The analyst comments "Adobe delivered a modest net new ARR beat, as we had suggested, but we think there was disappointment with... More

ULTA Salon (ULTA) PT Raised to $540 at BMO Capital

BMO Capital analyst Simeon Siegel raised the price target on ULTA Salon (NASDAQ: ULTA) to $540.00 (from $485.00) while maintaining a Market Perform rating.

The analyst comments "This evening, ULTA reported a top-and-bottom-line beat with better GM and SGA. Looking forward, in what will likely prove... More

Madrigal Pharmaceuticals (MDGL) PT Raised to $425 at H.C. Wainwright, 'Rezdiffra Achieves Landmark Approval'

H.C. Wainwright analyst Ed Acre raised the price target on Madrigal Pharmaceuticals (NASDAQ: MDGL) to $425.00 (from $405.00) while maintaining a Buy rating.

The analyst comments "Rezdiffra approved with a strong label that represents the "best case" for Madrigal's commercial opportunity. Yesterday, in a widely anticipated decision, Madrigal announced that the FDA has granted accelerated approval to Rezdiffra (resmetirom) as the first ever drug for MASH (formerly, NASH). We view the label as broad and highly supportive of the use of Rezdiffra as a foundational therapy in NASH patients with significant fibrosis. Specifically, the... More

Adobe (ADBE) PT Lowered to $685 at Melius, 'Wow, Adobe's story got confusing pretty fast'

Melius analyst Ben Reitzes lowered the price target on Adobe (NASDAQ: ADBE) to $685.00 (from $735.00) while maintaining a Buy rating.

The analyst comments "Adobe will need to explain some things better at the Summit in Vegas. Wow, Adobe's story got confusing pretty fast.... More

Adobe (ADBE) PT Lowered to $650 at Evercore ISI, 'Smaller DM ARR Beat/Guide Offsets Enterprise Traction'

Evercore ISI analyst Kirk Materne lowered the price target on Adobe (NASDAQ: ADBE) to $650.00 (from $700.00) while maintaining a Outperform rating.

The analyst comments "While we would argue that the pullback this morning seems a little extreme if one is taking a longer-term view, the skinner F1Q beat and F2Q net new ARR guide below the Street likely puts the upside case vs. the $1.9bn DM ARR guide... More

ULTA Salon (ULTA) PT Raised to $636 at Deutsche Bank

Deutsche Bank analyst Krisztina Katai raised the price target on ULTA Salon (NASDAQ: ULTA) to $636.00 (from $627.00) while maintaining a Buy rating.

The analyst comments "Looking ahead, we see upside to +LSD 1H SSS guidance as consumer engagement remains solid with beauty categories. We... More

ULTA Salon (ULTA) PT Lowered to $630 at Evercore ISI, 'Messy Quarter'

Evercore ISI analyst Michael Binetti lowered the price target on ULTA Salon (NASDAQ: ULTA) to $630.00 (from $635.00) while maintaining a Outperform rating.

The analyst comments "A Messy 4Q Update ULTA beat 4Q EPS by a lot ($8.08 vs our $7.63, Street $7.53) on +2.5% SSS (ISI/Street:... More

ULTA Salon (ULTA) PT Raised to $665 at Piper Sandler, 'remains a top idea'

Piper Sandler analyst Korinne Wolfmeyer raised the price target on ULTA Salon (NASDAQ: ULTA) to $665.00 (from $635.00) while maintaining a Overweight rating.

The analyst comments "ULTA remains a top idea within our Beauty & Wellness coverage following FQ4 results, and while investors are getting increasingly... More

Geron Corporation (GERN) PT Raised to $5 at Goldman Sachs

Goldman Sachs analyst Corinne Jenkins raised the price target on Geron Corporation (NASDAQ: GERN) to $5.00 (from $4.00) while maintaining a Buy rating.

The analyst comments "

We expect GERN to trade higher tomorrow (+85-90% in after hours trading) following the FDA's Advisory... More

Madrigal Pharmaceuticals (MDGL) PT Raised to $389 at Citi

Citi analyst David Lebowitz raised the price target on Madrigal Pharmaceuticals (NASDAQ: MDGL) to $389.00 (from $382.00) while maintaining a Buy rating.

The analyst comments "Madrigal announced that Rezdiffra (Resmetirom) was approved as the first therapy to treat non-cirrhotic non-alcoholic steatohepatitis (NASH, also known as metabolic... More

DA Davidson Out Positive on ULTA Salon (ULTA): 'Another Buying Opportunity'

DA Davidson analyst Michael Baker reiterated a Buy rating and $595.00 price target on ULTA Salon (NASDAQ: ULTA).

The analyst comments "Since bottoming last fall, ULTA has been a big outperformer, up 45% since mid-November, which is when discretionary retail started to outperform. With the... More