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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.
The electric vehicle revolution is still in its infancy, but by playing the power-generation angle, conservative investors can have a piece of the action and receive solid and dependable dividends while they wait for the growth in demand and use.
Also, see why ARK Invest funds continue to unload Chinese stocks.
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