Investing
Monday Afternoon Analyst Upgrades and Downgrades: Chesapeake Energy, Traeger and More
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With the trading day more than halfway over, the broad markets had a roaring start to the week with the S&P 500 and Nasdaq hitting record intraday highs. While markets slid last week, Monday was a fairly positive day and the gains. Investors in general seem to be growing optimistic ahead of the Federal Reserve’s Jackson Hole symposium later this week.
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 Continental Resources, JD.com, Robinhood, SeaWorld and more.
Candel Therapeutics Inc. (NASDAQ: CADL): UBS initiated coverage with a Buy rating and a $9 price target. Credit Suisse started it with an Outperform rating and a $15 price target, and Jefferies started it with a Buy rating and a $22 price target. Shares traded near $7.68 on Monday, in a 52-week range of $5.51 to $8.68.
Chesapeake Energy Corp. (NASDAQ: CHK): Wells Fargo downgraded the stock to Equal Weight from Overweight and has a $64 price target. The stock traded near $52 on Monday, in a 52-week range of $40.00 to $59.30.
Nuvalent Inc. (NASDAQ: NUVL): JPMorgan started coverage with an Overweight rating and a $34 price target, and Cowen started it with an Outperform rating. The stock was changing hands near $29.30 a share on Monday, in a 52-week range of $17.00 to $29.56.
Rallybio Corp. (NASDAQ: RLYB): Evercore ISI initiated coverage with an Outperform rating and a $40 price target. The stock traded near $13 on Monday, in a 52-week range of $11.86 to $25.78.
Riskified Ltd. (NYSE: RSKD): Barclays started coverage with an Overweight rating and a $33 price target. KeyBanc Capital Markets initiated coverage with a $35 price target. Piper Sandler started it with an Overweight rating and a $32 price target. Credit Suisse started it with an Outperform rating and a $33 price target. The stock was changing hands near $28 a share on Monday, in a 52-week range of $25.50 to $29.89.
Traeger Inc. (NYSE: COOK): Morgan Stanley initiated coverage with an Equal Weight rating and a $28 price target. Piper Sandler started with an Overweight rating and a $30 price target. RBC Capital Markets initiated coverage with an Outperform rating and a $29 price target. Jefferies initiated coverage with a Buy rating and a $36 price target. The shares were trading near $27 on Monday, and the 52-week range is $21.95 to $32.59.
Jefferies is very positive on four business development stocks now for balanced growth and income investors. They pay outsized dividends and offer growth potential, so the total return possibilities look to be very solid.
Two hot tech stocks are among those expected to see dividend hikes this week. Also, now that its quiet period is over, see how the analysts landed on Robinhood stock.
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