Investing

GameStop, PayPal, Starbucks, Visa and More Wednesday Afternoon Analyst Calls

Chris Lange

Published: January 27, 2021 11:40 am

Last Updated: June 18, 2021 1:55 pm

With the trading day about halfway over, the broad markets were taking a hit on Wednesday. Each of the major indexes had pulled back about 1%, but this was an improvement from the open. Much of the market was abuzz about WallStreetBets targeting GameStop and others, and some retail brokerage firms reported outages on their platforms as a result of increased volume.

24/7 Wall St. is looking at some big analyst calls that we have seen so far on Wednesday. We have included the most recent analyst call on each stock, as well as a recent trading history and the general consensus among analysts.

For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Wednesday that included DraftKings, Kohl’s, Mastercard, 3M, Under Armour and more.

Advanced Micro Devices Inc. (NASDAQ: AMD) was reiterated by Cowen as Outperform and its price target was hiked to $120 from $110. The stock was last seen at $89.01, in a 52-week range of $36.75 to $99.23. The consensus price target is $94.03.

BlackBerry Ltd. (NYSE: BB) was downgraded to Sector Underperform from Sector Perform by Scotiabank. The stock was trading at $21.69, in a 52-week trading range of $2.70 to $23.48. The consensus price target is $7.86.

GameStop Corp. (NYSE: GME) was reiterated as Underperform at BofA Securities, and its price target was raised to $10 from $1.60. The consensus price target is $12.39. Shares traded at $310.75, in the 52-week range of $2.57 to $352.07.

PayPal Holdings Inc. (NASDAQ: PYPL) was resumed at Bernstein as Outperform with a $297 price target. The shares traded at $234.16, within its 52-week range of $82.07 to $254.39. Analysts have a consensus price target of $253.44 for the stock.

Starbucks Corp. (NASDAQ: SBUX) was reiterated with a Market Perform rating and its price target was raised to $108 from $102. The consensus target is $106.34. The stock traded at $98.33, in a 52-week range of $50.02 to $107.75.

Spotify Technology S.A. (NYSE: SPOT) was downgraded to Hold from Buy at Nordea. The stock was up about 1% to $339.22 a share on Wednesday. The 52-week range is $109.18 to $370.95. The consensus price target is $294.06.

SunPower Corp. (NASDAQ: SPWR) was downgraded from an Overweight rating to Neutral with a $35 price target at Piper Sandler. The stock traded at $51.75 and has a consensus price target of $24.05. The 52-week trading range is $2.64 to $54.99.

Square Inc. (NYSE: SQ) was resumed at Bernstein with an Outperform rating and a $266 price target. The stock was last seen at $207.46 and has a consensus target of $222.60. The 52-week trading range is $32.33 to $246.49.

Stamps.com Inc. (NASDAQ: STMP) was resumed at Maxim Group with a Buy rating and a $415 price target. The stock was trading at $236.53, in a 52-week range of $73.14 to $325.13. The consensus price target is $326.00.

Visa Inc. (NYSE: V) was downgraded to Sector Weight from Overweight with a $210 price target by KeyBanc Capital Markets. Bernstein also resumed coverage with an Outperform rating and a $232 price target. Shares traded at $199.75, in a 52-week range of $100.00 to $211.44. The consensus price target is $197.75.

Some analysts believe Microsoft is a screaming buy after earnings, but with Starbucks it is a different story.

A market sell-off is probably coming, perhaps a fast and furious 10% or even 20% drop. Typically, sin stocks are able to hold their own when that happens, and BofA Securities has four that could be just the ticket for worried investors.