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Tuesday Afternoon Analyst Upgrades and Downgrades: SmileDirectClub, Squarespace, Victoria's Secret and More
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With the trading day more than halfway over, the broad markets were mixed yet again, but this came with a couple of record highs. While the Nasdaq was lagging once more, the S&P 500 and Dow Jones industrial average managed to edge out new highs. Investors seem to be weighing out the Delta variant, as well as the new infrastructure bill that is on the way.
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 Akamai Technologies, Apple, Clorox, Fisker, Oracle and more.
Arcturus Therapeutics Holdings, Inc. (NASDAQ: ARCT): Baird downgraded the stock to an Underperform rating from Neutral with a $31 price target. Shares traded near $57 on Tuesday, in a 52-week range of $24.87 to $129.71.
Biohaven Pharmaceutical Holding Co. Ltd. (NYSE: BHVN): UBS downgraded it to Neutral from Buy but raised the price target to $109 from $108. Shares traded near $109 on Tuesday, in a 52-week range of $57.66 to $132.91. The consensus price target is $118.45.
Lions Gate Entertainment Corp. (NYSE: LGF-A): Cowen’s downgrade was to Market Perform from Outperform. The stock was trading at around $14 a share on Tuesday, in a 52-week range of $6.56 to $21.42.
Ocular Therapeutix Inc. (NASDAQ: OCUL): H.C. Wainwright upgraded it to a Buy rating from Neutral and has a $17 price target. The stock was changing hands near $11 a share on Tuesday, in a 52-week range of $7.14 to $24.30.
SmileDirectClub Inc. (NASDAQ: SDC): Craig Hallum downgraded it to Buy from Hold. The Stephens downgrade was to Equal Weight from Overweight, and the firm cut the price target to $11 from $17. JPMorgan lowered its Neutral rating to Underweight and has a $6 price target. William Blair downgraded the stock from Outperform to Market Perform. The stock traded near $5 on Tuesday, in a 52-week range of $4.93 to $16.08.
Squarespace Inc. (NYSE: SQSP): JMP Securities reiterated an Outperform rating and cut the price target to $64 from $75. KeyBanc reiterated an Overweight rating but cut the price target to $60 from $70. As Barclays reiterated an Equal Weight rating, it also cut the target to $62 from $70. RBC Capital Markets reiterated it at Sector Perform and cut the target from $62 to $48. And Mizuho reiterated its Buy rating but lowered the price target by $10 to $70. The stock traded near $45 on Tuesday, in a 52-week range of $42.82 to $64.71. Its consensus price target is $72.00.
Victoria’s Secret & Co. (NYSE: VSCO): Evercore ISI initiated coverage with an Outperform rating and a $100 price target. The stock was trading near $74 a share on Tuesday, in a 52-week range of $39.79 to $75.53.
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