Analysts have become more bullish on six stocks from around the world this week, raising their price targets. The list of upgraded stocks includes four U.S.-listed companies — Shift4 Payments , Semtech , Formula One Group , MacroGenics — as well as South Korean automaker Hyundai Motor and French retail technology giant Vusion . The price target changes come ahead of the next earnings season covering the first quarter of this year. CNBC Pro screened for global stocks that have received price target upgrades from five or more analysts in the past seven days and have a potential upside of over 25%. MacroGenics Investment banks raised their price target for the biopharmaceutical firm MacroGenics this week, giving the stock upside potential of 83% over the next 12 months. The Rockville, Maryland-headquartered company, founded in 2000, researches and develops antibody-based therapeutics for cancer treatment. Analysts this week said the company’s latest trial data for its vobra-duo drug showed a “drastically improved” safety profile, which “could lead to a boost in efficacy”. Vobra-duo is designed to treat solid tumors. “We highlight that an improved safety profile with lower discontinuations and dose reductions could lead to better exposure and consequently better efficacy vs. prior data,” said JMP analyst Silvan Tuerkcan in a note to clients on Apr. 3. “We are also encouraged by the fact that a median of three cycles of vobra-duo was administered with 86% of patients continuing treatment.” Tuerkcan — one of the most cautious analysts on the stock — has a price target of $22, pointing to upside of 22% for the stock. MGNX 1Y line Meanwhile, investment firm Leerlink Partners, which specializes in healthcare and life science stocks, told clients that shares of MacroGenics could more than double over the next 12 months – the most bullish price target of all analysts polled by FactSet. Shift 4 Payments Shares of the New York-listed payment processing company have fallen by around 15% over the past month after its board rejected several takeover bids over concerns that the offers were not “sufficiently valuing” the company. Investment banks are urging clients to buy as the sell-off has left the stock at “very attractive” levels. Peter Heckmann, equity analyst at DA Davidson, pointed to statements from Shift 4 CEO Jared Issacman’s openness towards taking the firm private in 2023 “to remove some of the distractions of being a public company.” FOUR 1Y line Analysts have also suggested that Shift 4 could benefit from the $30 billion settlement Visa and MasterCard struck with the U.S. government to limit credit and debit card fees charged to businesses. “To the extent merchants surcharge on certain credit cards, we believe the biggest beneficiaries could be merchant acquirers that earn a take rate on volume/ATV,” said Mizuho Securities analysts led by Dan Dolev in a note to clients on Mar. 26.
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