Morningstar analysts have raised fair value estimates for many stocks after a strong earnings quarter. Technology companies like Seagate Technology and Western Digital saw significant increases. The average fair value estimate across 843 US-listed stocks rose by 1.96%. Tech and communication services sectors had the highest increase rates. Specific stocks like Societe Generale and United Rentals also saw fair value boosts.

Seagate Technology received two fair value bumps, reaching $149 per share after strong fiscal fourth-quarter results. Western Digital reported robust earnings, leading to a fair value increase to $82 per share. Societe Generale demonstrated strong cost management, resulting in a fair value estimate of EUR 46 per share. United Rentals’ competitive position led to a fair value estimate of $938 per share.

Arista Networks outperformed expectations, leading to a fair value estimate increase to $120 per share. Sunrun benefitted from the US House passing a favorable budget reconciliation bill, impacting solar stocks positively. Sonic Automotive’s EchoPark business turnaround led to a fair value estimate increase to $92 per share. SolarEdge Technologies reported stable results, maintaining a fair value estimate of $20 per share.

CyberArk Software reported strong earnings and a pending acquisition by Palo Alto, leading to a fair value estimate raise to $465 per share. Advanced Micro Devices saw revenue growth and market share gains, resulting in a fair value estimate increase to $155 per share. Overall, Morningstar analysts provided detailed insights into each stock’s performance and fair value adjustments.

Read more at Morningstar: 10 Stocks with the Largest Fair Value Estimate Increases During Q2 Earnings