Bearish Analyst Outlook

Analyst sentiment remains bearish, with a Zacks Rank of #4 (Sell) and no upward revisions to quarterly estimates. Option markets have reflected heightened implied volatility for a significant upcoming event. Price‑target adjustments increased from banks are as follows: Citigroup lowered its target to $71.50 from $73; Stifel cut to $60 from $74; JPMorgan trimmed to $60 from $64; Goldman Sachs reduced to $55 from $63; Barclays cut to $59 from $63; Jefferies slashed to $47 from $52, switched to a hold rating; Deutsche Bank lowered to $62 from $73; HSBC dropped to $68 from $78; Morgan Stanley adjusted to $68 from $69. A mean price target range of $63–$68 persists, with weighted analyst ratings “overweight” or “buy.”