Investing

Friday's Top Analyst Upgrades and Downgrades: APA, Arcturus, CME, Darden, First Solar, Logitech, Netflix Nike, Nokia, Sea and More

Chris Lange

Published: June 25, 2021 9:09 am

Last Updated: June 25, 2021 9:42 am

Friday’s futures were fairly positive, adding to a week of record highs. More will be seen when the markets actually open. Note that the markets are heading higher in the wake of Presidents Joe Biden’s infrastructure bill, which has led to industrials and financials making gains.

Wall Street is concerned about tapering of the quantitative easing program, but despite 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. Another big plus is the continued massive inflows into money markets.

With major Wall Street firms still warning of the potential for an 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 for Friday, June 25, 2021.

APA Corp. (NASDAQ: APA): JPMorgan downgraded to a Neutral rating from Overweight with a $27 price target. Shares closed Thursday near $22 apiece, in a 52-week range of $7.45 to $24.30. The consensus price target is $27.74.

Arcturus Therapeutics Holdings, Inc. (NASDAQ: ARCT): Goldman Sachs resumed coverage with a Neutral rating and a $29 price target. The stock was last traded near $34, in a 52-week range of $24.87 to $129.71. The consensus price target is $81.08.

BlackBerry Ltd. (NYSE: BB): CIBC downgraded to a Sector Underperform rating from Neutral. Canaccord Genuity also downgraded to a Sell rating from Hold with a $10 price target. The stock closed near $13, in a 52-week range of $4.37 to $28.77. Analysts have a consensus price target of $7.75 for the stock.

CalAmp Corp. (NASDAQ: CAMP): Craig Hallum reiterated a Buy rating and raised its price target to $16 from $15. The consensus price target is $14.88, and the stock closed Thursday at around $14 per share. The 52-week trading range is $7.01 to $14.51.

Cboe Global Markets Inc. (BATS: CBOE): Credit Suisse resumed coverage with a Neutral rating and a $94 price target. The stock closed near $121, in a 52-week range of $77.63 to $121.50.

CME Group Inc. (NASDAQ: CME): Credit Suisse resumed coverage with a Neutral rating and a $183 price target. The shares last closed near $217, and the consensus price target is $213.94.

Darden Restaurants, Inc. (NYSE: DRI): MKM Partners upgraded to a Buy rating from Neutral and raised its price target to $168 from $155. The stock most recently closed at $140 and has a consensus price target of $159.00.

Enphase Energy, Inc. (NASDAQ: ENPH): Stephens initiated coverage with an Overweight rating and a $215 price target. Citigroup initiated coverage with a Buy rating and a $220 price target. Shares last closed near $171 and have a consensus price target of $191.89.

First Solar Inc. (NASDAQ: FSLR): Stephens started with an Overweight rating and a $102 price target. The stock was last trading near $84. The consensus target is $85.57. The 52-week trading range is $48.30 to $112.50.

Luminar Technologies, Inc. (NASDAQ: LAZR): Robert Baird upgraded to an Outperform rating from Neutral and raised the price target to $30 from $22. Shares last closed at $24, and the consensus price target is $28.25.

Logitech International S.A. (NASDAQ: LOGI): Goldman Sachs downgrade to a Neutral rating from Buy. The consensus price target is $125.62. The stock has a 52-week range of $62.46 to $140.17 and recently closed near $126 a share.

Nasdaq Inc. (NASDAQ: NDAQ): Credit Suisse resumed coverage with an Outperform rating and a $180 price target. Shares last closed at $178, and the consensus price target is $179.56.

Netflix, Inc. (NASDAQ: NFLX): Credit Suisse upgraded to an Outperform rating from Neutral with a $586 price target. The stock was last traded near $518, in a 52-week range of $432.14 to $593.29. The consensus price target is $613.68.

Nike, Inc. (NYSE: NKE): Pivotal Research reiterated a Buy rating and raised the price target to $175 from $167. The stock closed near $133, in a 52-week range of $93.57 to $147.95. Analysts have a consensus price target of $161.87 for the stock.

Nokia Corp. (NYSE: NOK): Goldman Sachs upgraded to a Buy rating from Neutral. The stock closed near $5, in a 52-week range of $3.21 to $9.79.

NetApp, Inc. (NASDAQ: NTAP): Raymond James upgraded to an Outperform rating from Market Perform with a $100 price target. The shares last closed near $81, and the consensus price target is $84.81.

Rite Aid Corp. (NYSE: RAD): JPMorgan downgraded to an Underweight rating from Neutral and cut the price target to $12 from $21. The stock most recently closed at $17.46 and has a 52-week range of $8.86 to $32.48.

Sunrun Inc. (NASDAQ: RUN): Stephens initiated coverage with an Overweight rating and an $82 price target. Shares last closed near $53 and have a consensus price target of $76.59.

Sea Ltd. (NYSE: SE): New Street started with a Buy rating and a $325 price target. The stock was last trading near $289. The consensus target is $306.63. The 52-week trading range is $101.61 to $297.75.

SolarEdge Technologies, Inc. (NASDAQ: SEDG): Stephens initiated coverage with an Overweight rating and a $336 price target. Citigroup also started with a Neutral and a $300 price target. Shares last closed at $267, and the consensus price target is $292.00.

United Rentals, Inc. (NYSE: URI): UBS upgraded to a Buy rating from Neutral and raised the price target to $375 from $335. The stock has a 52-week range of $139.95 to $354.60 and recently closed near $317 a share.

Vulcan Materials Co. (NYSE: VMC): Jefferies upgraded to a Buy rating from Hold and raised the price target to $207 from $180. The stock most recently closed at $176 and has a consensus price target of $192.83.

VMware, Inc. (NYSE: VMW): Raymond James resumed coverage with an Outperform rating and a $175 price target. Shares last closed at $155.82, and the consensus price target is $176.10.