Gap, Palo Alto Networks, Schlumberger, Spotify and More Monday Afternoon Analyst Upgrades and Downgrades

Investing

Published: July 26, 2021 11:50 am

With the trading day about halfway over, the major averages were still trying to make up their mind, with all practically flat. Although the opening was somewhat negative as Chinese markets took a hit overnight, U.S. markets quickly bounced back. Keep in mind, major earnings are scheduled for this week including Apple, Alphabet, Microsoft and Amazon.

24/7 Wall St. is reviewing some big analyst calls seen on Monday. 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 Monday that included Chewy, Dish, HPE, Krispy Kreme, Southwest Airlines and more.

Gap Inc. (NYSE: GPS): Deutsche Bank upgraded the stock to a Buy rating from Hold and raised the price target to $42 from $38. The stock traded near $30 on Monday, in a 52-week range of $12.36 to $37.63. It has a consensus price target of $36.80.

Iridium Communications Inc. (NASDAQ: IRDM): Barclays upgraded its Underweight rating to Equal Weight and raised the price target to $40 from $35.50. The shares were changing hands at around $41 apiece on Monday, in a 52-week trading range of $23.65 to $54.65.

Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS): B. Riley upgraded it to Buy from Neutral and raised the price target to $32 from $28. The stock traded near $27 on Monday, in a 52-week range of $17.40 to $34.11. It has a consensus price target of $28.67.

Mimecast Ltd. (NASDAQ: MIME) Loop Capital downgraded it to Hold from Buy and has a $60 price target. The stock was trading at around $55 a share on Monday, in a 52-week range of $37.03 to $59.48.

Palo Alto Networks Inc. (NYSE: PANW): Loop Capital’s downgrade to Hold from Buy included a price target cut to $410 from $465. The stock was changing hands near $400 a share on Monday, in a 52-week range of $219.34 to $404.05.

Pacira BioSciences Inc. (NASDAQ: PCRX): JPMorgan upgraded it to Overweight from Neutral and has a $75 price target. The stock traded near $59 on Monday, in a 52-week range of $48.23 to $80.00.

Schlumberger Ltd. (NYSE: SLB): Cowen reiterated an Outperform rating and raised the price target to $35 from $32. The stock traded near $29 on Monday, in a 52-week range of $13.70 to $36.87. It has a consensus price target of $33.40.

Spotify Technology S.A. (NYSE: SPOT): Reburn’s downgrade was to Sell from Neutral, and the firm has a $170 price target. The stock was trading at around $237 a share on Monday, in a 52-week range of $211.10 to $387.44.

Zscaler Inc. (NASDAQ: ZS): Loop Capital downgraded the stock to Hold from Buy and has a $250 price target. The shares were changing hands at around $234 apiece on Monday, in a 52-week trading range of $116.88 to $240.29.

ALSO READ: What’s Up With Apple: 100 Million iPhone Chips, Upcoming Quarterly Earnings

The analysts at Goldman Sachs have initiated coverage on Foot Locker Inc. (NYSE: FL) and three other sizzling stocks with Buy ratings. These picks could offer some outstanding alpha potential for aggressive growth investors.

Returning capital to investors shows that a company is doing well and has the earnings and cash flow strength to increase the payouts. Wells Fargo & Co. (NYSE: WFC) is among six top companies expected to hike their dividends this week, and top Wall Street firms rate all their stocks at Buy.

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