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Alphabet, Apple, Starbucks, Visa and More Wednesday Afternoon Analyst Upgrades and Downgrades
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With the trading day nearly halfway over, the broad markets were somewhat mixed. The Nasdaq was roaring back up, nearly 1%, while the Dow Jones industrials were slightly negative and the S&P 500 was edging higher. Investors seem to be waiting, more than anything, for what the Federal Reserve has to say later in the day.
24/7 Wall St. is reviewing some big analyst calls seen on Wednesday. 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 Wednesday that included Chewy, MGM Resorts, Microsoft, Salesforce, Virgin Galactic and more.
Alphabet Inc. (NASDAQ: GOOGL): Jefferies reiterated a Buy rating and raised the price target to $3,150 from $2,950. Credit Suisse reiterated it at Outperform and raised the target to $3,400 from $3,350. BofA Securities reiterated a Buy rating and boosted the target to $3,150 from $2,755. JPMorgan reiterated it at Overweight and raised the target from $2,875 to $3,250. Other analysts responded to Tuesday’s earnings report too. The stock traded near $2,782 on Wednesday, in a 52-week range of $1,406.55 to $2,800.22. It has a consensus price target of $2,625.00.
Apple Inc. (NASDAQ: AAPL): Canaccord Genuity reiterated a Buy rating and raised its price target to $185 from $175. Morgan Stanley and Wells Fargo each reiterated its Overweight rating, but the former raised its price target to $168 from $166, while the latter raised its price to $165 from $160. Oppenheimer reiterated an Outperform rating and raised the price target from $160 to $165. Other analysts responded to Tuesday’s earnings report as well. The shares were changing hands at around $146 apiece on Wednesday, in a 52-week trading range of $93.71 to $150.00.
Five9 Inc. (NASDAQ: FIVN): JPMorgan’s downgrade to a Neutral rating from Overweight came with a $213 price target. Piper Sandler downgraded it to a Neutral rating from Overweight and cut the price target to $203 from $220, while Jefferies downgraded its Buy rating to Hold and has a $200 target. Shares traded near $198 on Wednesday, in a 52-week range of $107.98 to $201.75. The consensus price target is $206.63.
IMAX Corp. (NYSE: IMAX): JPMorgan reiterated a Neutral rating and cut the price target to $20 from $24. The stock was trading at around $16 a share on Wednesday, in a 52-week range of $10.50 to $25.05.
Logitech International S.A. (NASDAQ: LOGI): Loop Capital downgraded the stock to Hold from Buy. The stock was changing hands near $108 a share on Wednesday, in a 52-week range of $66.78 to $140.17.
Starbucks Corp. (NASDAQ: SBUX): Though Morgan Stanley reiterated an Equal Weight rating, it also raised the price target to $125 from $120. Jefferies reiterated a Buy rating and raised its target from $135 to $145. Barclays reiterated an Overweight rating and raised the target to $145 from $140. The stock traded near $123 on Wednesday, in a 52-week range of $74.76 to $126.32.
Stryker Corp. (NYSE: SYK): Northland Capital upgraded it to Outperform from Market Perform and raised the price target to $310 from $248. The stock traded near $270 on Wednesday, in a 52-week range of $185.20 to $275.08. Its consensus price target is $274.09.
Visa Inc. (NYSE: V): Citigroup reiterated a Buy rating and raised the price target to $288 from $283, and Wells Fargo reiterated an Overweight rating and raised its target to $280 from $265. Raymond James reiterated an Outperform rating and hiked the target to $286 from $268. The stock was trading at around $249 a share on Wednesday, in a 52-week range of $179.23 to $252.67. Analysts have a consensus price target of $268.97 for the stock.
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