3 New Strong Buy Ratings from Top-Rated Analysts: 12/10/2024

Right now, analysts are bullish on Procore Technologies Inc. (NYSE: PCOR) following a successful Investor Day event; both Hewlett Packard Enterprises (NYSE: HPE) and Build a Bear Workshop Inc. (NYSE: BBW) enjoyed price target upgrades following good earnings. Here’s the scoop. 

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1- Procore Technologies Inc. (NYSE: PCOR) 

Analyst/Firm: David Hynes / Canaccord Genuity

Analyst ranking:  Top 9% / average return +8.06% / win rate 57% 

Price at writing:  $82.89

Price target: $83.00 (See more price targets here)

• Maintaining a Strong Buy rating, Canaccord Genuity's David Hynes raised their price target on Procore Technologies (NYSE: PCOR) by 23.9% from $67 to $83 on 11/22, following the company’s 2024 Investor Day.
• Hynes contextualized their price target hike by referencing the new capabilities Procore Technologies showcased at the event, the "greater insights" management offered into the company's growth levers and GTM transformation, and the several new long-term financial objectives outlined.

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2- Hewlett Packard Enterprises (NYSE: HPE) 

Analyst/Firm: Tim Long / Barclays

Analyst ranking: Top 4% / average return +13.45% / win rate 60% 

Price at writing: $23.95

Price target: $27.00 (See more price targets here)

• Maintaining a Strong Buy rating, Barclays's Tim Long raised their price target on Hewlett Packard Enterprise Co (NYSE: HPE) by 12.5% from $24 to $27 on 12/6, soon after the company’s 11/26 earnings report. 
• Long summarized the print by saying that although the quarter was solid, "most of the attention will be on the lower reported AI orders and backlog."
• However, the analyst clarified that HP Enterprise is "clearly being more selective in that business" and said they were encouraged that the company's traditional servers and storage numbers were better than expected.

3- Build a Bear Workshop Inc. (NYSE: BBW) 

Analyst/Firm: Michael Baker / DA Davidson

Analyst ranking: Top 5% / average return +13.3% / win rate 66% 

Price at writing: $40.56

Price target: $50.00 (See more price targets here)

• Maintaining a Strong Buy rating, DA Davidson's Michael Baker raised their price target on Build-A-Bear Workshop (NYSE: BBW) by 25% from $40 to $50 on 12/6, following the company’s earnings. 
• Baker summarized the print by saying that the results beat consensus on most line items, and although management "tweaked its FY 2024 growth guidance down a bit", it still expects continued growth in Q4.
• The analyst explained that Build-A-Bear Workshop's solid Q3 results were driven by strong foot traffic, with stores seeing double-digit traffic growth, partially offset by weaker online demand.
• Looking ahead, the analyst predicted that "management's continued investments in store growth, brand campaigns, and strategic partnerships should support future growth."

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