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Monday's Analyst Upgrades and Downgrades: Chipotle, CRISPR, Hess Midstream, iMedia, Kinder Morgan, Wendy's and More
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Monday’s futures were relatively flat, with the Nasdaq looking the best out of the group with about a 0.2% gain. Also, an early look at crude oil shows another optimistic move for the commodity, up about 1% continuing its push higher above $70 a barrel. Many bulls are calling for it to reach $100. Cryptocurrencies also continued their climb, with Bitcoin reaching nearly $40,000, after having dropped off significantly last week. All this makes for a stock pickers’ market, and analysts were quick to give their opinions Monday morning.
Despite the resurfacing concerns across Wall Street for tapering of the quantitative easing program and a clear building of inflationary pressures, the Federal Reserve is vowing to keep interest rates contained. That could be one reason for the continued moves higher in the equity markets, even after sell-offs. Also note that money markets continue to see massive inflows, which is another big plus.
With major Wall Street firms still warning of the potential for impending 5% to 10% correction across the board, it makes sense for investors to continue building some cash reserves into the market strength while repositioning portfolios for the coming quarter and the rest of 2021.
24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
These are the top analyst upgrades, downgrades and initiations seen on Monday, June 14, 2021.
Autolus Therapeutics PLC (NASDAQ: AUTL): Jefferies upgraded the stock to a Buy rating from Hold and raised the price target to $12 from $6. The stock last closed near $8, in a 52-week range of $4.60 to $17.19. The consensus price target is $14.78.
Cheniere Energy Partners L.P. (NYSE: CQP): The Goldman Sachs upgrade to Buy from Neutral came with a $56 price target. The stock closed on Friday near $43 and has a 52-week range of $31.51 to $44.63.
Chipotle Mexican Grill Inc. (NYSE: CMG): Raymond James upgraded it to Strong Buy from Outperform and has an $1,800 price target. The consensus price target is $1,723.04, and the stock closed at around $1,367. The 52-week range is $971.00 to $1,579.52.
Core Laboratories N.V. (NYSE: CLB): Though Citigroup downgraded it to Sell from Neutral, the firm also raised the price target to $36 from $30. Shares closed Friday near $48, in a 52-week range of $13.43 to $49.87. The consensus price target is $32.18.
CRISPR Therapeutics A.G. (NASDAQ: CRSP): Citigroup upgraded it to Neutral from Sell and raised the price target all the way to $132 from $55. The stock closed near $127, in a 52-week range of $59.19 to $220.20. Analysts have a consensus price target of $158.83 for the stock.
DHI Group Inc. (NYSE: DHX): B. Riley Securities resumed coverage with a Buy rating and a $4.50 price target. The stock was last seen trading near $4. The consensus analyst target is $4.75. The 52-week trading range is $1.66 to $3.99.
EnLink Midstream LLC (NYSE: ENLC): Raymond James upgraded it to Outperform from Market Perform and has a $7.50 price target. The stock recently closed at $6.25 a share, which was within a 52-week range of $2.13 to $6.33. The consensus price target is $5.03.
Halozyme Therapeutics Inc. (NASDAQ: HALO): Evercore ISI initiated coverage with an Outperform rating. The stock closed near $43, in a 52-week range of $22.11 to $56.40. The consensus price target is $52.40.
Hess Midstream L.P. (NYSE: HESM): Goldman Sachs initiated coverage with a Buy rating and a $30 price target. The stock was last seen around $26, in a 52-week range of $14.56 to $26.47. The consensus price target is $26.00.
iMedia Brands Inc. (NASDAQ: IMBI): B. Riley Securities initiated coverage with a Buy rating and a $22 price target. The consensus price target is $19.33. The stock has a 52-week range of $2.81 to $10.48 and recently closed near $9 a share.
Kinder Morgan Inc. (NYSE: KMI): Goldman Sachs downgraded it to Sell from Neutral. The stock most recently closed at $19.14 and has a consensus price target of $18.10.
Tyler Technologies Inc. (NYSE: TYL): Zacks named this as its Bull of the Day stock. The analyst said that this software services company is bringing the government into the digital world. The stock most recently closed at $430.79 and has a consensus price target of just $476.85.
Welltower Inc. (NYSE: WELL): Evercore ISI downgraded from Outperform to Neutral with a $10 price target. The shares last closed at $79.68, and its consensus price target is $76.67.
Wendy’s Co. (NASDAQ: WEN): Northcoast raised its Neutral rating to Buy with a $30 price target. The consensus price target is $26.07, and the stock has a 52-week trading range of $18.86 to $29.46. It recently closed near $24 per share.
Friday’s early top analyst upgrades and downgrades included Biogen, CME, Dropbox, DocuSign, Nvidia, Ping Identity, Signet Jewelers and Tilray. Analyst calls seen later in the day were on Nasdaq, Smartsheet, Twilio, Zoom Video and more.
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