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Apple, Array Tech, Vertex Pharma and More Tuesday Afternoon Analyst Calls
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With the trading day more than halfway over, the broad markets were rallying after the carnage on Monday. Each of the major indexes was up at least 1.5% at midday. Tech, industrials and financials were some of the best performers on the day so far. This bounce, while positive, does leave many investors scratching their heads about where the markets will go from here.
24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.
For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Tuesday that included Cloudflare, Ford, Rocket Companies, Skechers and more.
Apple Inc. (NASDAQ: AAPL): UBS reiterated its Buy rating and raised the price target to $166 from $155. The shares were changing hands at around $145 apiece on Tuesday, in a 52-week trading range of $89.14 to $150.00.
Ardelyx Inc. (NASDAQ: ARDX): Wedbush downgraded Outperform rating to Neutral with a $3 price target. Also Piper Sandler downgraded it to a Neutral rating from Overweight and slashed its price target to $4 from $14. The stock traded near $2 on Tuesday, in a 52-week range of $1.81 to $9.23. It has a consensus price target of $14.14.
Array Technologies Inc. (NASDAQ: ARRY): Barclays upgraded the stock to Equal Weight from Underweight and has a $15 price target. The stock was trading at around $14 a share on Tuesday, in a 52-week range of $12.82 to $54.78.
CareDx Inc. (NASDAQ: CDNA): BTIG Research resumed coverage with a Buy rating and a $115 price target. The stock traded near $82 on Tuesday, in a 52-week range of $29.86 to $99.83. It has a consensus price target of $100.33.
International Flavors & Fragrances Inc. (NYSE: IFF): Redburn initiated coverage with a Buy rating. The stock was changing hands near $144 a share on Tuesday, in a 52-week range of $99.54 to $150.16.
SciPlay Corp. (NASDAQ: SCPL): Craig Hallum downgraded it to a Hold rating from Buy and cut the price target to $19 from $21. The stock traded near $16 on Tuesday, in a 52-week range of $11.76 to $21.74.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX): SVB Leerink’s downgrade to Underperform from Market Perform came with a $170 price target. The stock traded at around $195 a share on Tuesday, in a 52-week range of $185.33 to $301.14.
Viavi Solutions Inc. (NASDAQ: VIAV): JPMorgan downgraded it to Neutral rating Overweight and has a $19 price target. The stock traded near $16 a share on Tuesday, in a 52-week range of $11.37 to $18.14. The consensus price target is $19.78.
Despite slipping crude prices, Stifel remains optimistic about the energy sector and favors upstream stocks. The firm has five outstanding ideas for investors with a degree of risk tolerance who are looking at energy stocks now.
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