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Tuesday Afternoon's Top Analyst Upgrades and Downgrades: Kroger, Netflix, Nike and More
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Stocks were mixed approaching the midday point on Tuesday, as traders and investors are returning to action following the long three-day Labor Day holiday. One main point of discussion remains the very weak August jobs numbers posted Friday that missed analyst estimates in a big way. Despite the weak print, many feel that the poor results are unlikely to sway the Federal Reserve’s intention to start the tapering process as early as November.
On the economic calendar this week, investors will get new data on producer prices, wholesale inventories and jobless claims. In addition, the release of the Federal Reserve Beige Book on Wednesday will give central banks watchers more data to crunch.
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. Note that analyst calls seem earlier in the day included Amgen, Johnson & Johnson, Lam Research, Merck and Spotify.
Chipotle Mexican Grill Inc. (NYSE: CMG): Wedbush boosted its $1,800 price target to $2,150 and has an Outperform rating on the stock. The consensus target is $1,857.22, but shares were changing hands on Tuesday above $1,900 apiece.
Duck Creek Technologies Inc. (NASDAQ: DCT): Stifel raised its price target on the stock to $60 from $55 and kept a Buy rating on the shares. The stock has traded in a 52-week range of $33.91 to $59.40 and has a $51.20 consensus price objective.
Global Payments Inc. (NYSE: GPN): Jefferies reiterated a Buy rating and has a $235 price target. The consensus target is $227.90. The shares have traded in a 52-week trading range of $153.33 and $220.81, and they have a $227.90 consensus price objective.
HubSpot Inc. (NASDAQ: HUBS): Stifel reiterated a Buy rating on the stock and raised the price target to $750 from $650. Over the past year, the shares have traded in a wide range between $264.06 and $715.29 and have a consensus price target of $679.59.
Kroger Co. (NYSE: KR): Northcoast Research has a Buy rating and lifted its $46 target price to $49. Wells Fargo’s $39 target was hiked to $46, and the firm has an Equal Weight rating. Shares traded above $46 on Tuesday, well above the consensus target of $38.89.
Lululemon Athletica Inc. (NASDAQ: LULU): MKM Partners hiked its price target from $390 to $419 and has a Buy rating. The stock was last seen trading near $390 a share, but the consensus target is $402.88.
Moody’s Corp. (NYSE: MCO): Oppenheimer reiterated its Overweight rating and lifted the price target to $416 from $406. The consensus target is $407.20. The shares have traded in a 52-week range of $253.17 and $388.81.
Netflix Inc. (NASDAQ: NFLX): The $690 Atlantic Securities price target rose to $780, and the firm has an Overweight rating. On Tuesday, shares were trading near an all-time high above $613.
Nike Inc. (NYSE: NKE): Morgan Stanley raised its price target from $214 to $221 and has an Overweight rating. The stock was trading above $162 on Tuesday and has a consensus target of $183.90.
Oak Street Health Inc. (NYSE: OSH): Baird started coverage with a Buy rating and a $60 price target. The consensus target is $65.58. The shares have traded in a 52-week range of $37.41 and $66.31.
Roblox Corp. (NASDAQ: RBLX): Jefferies reiterated a Hold rating on the stock and has a $92 price target. The consensus target is $91.25. Over the past year, the shares have traded between $60.50 and $103.87.
Tango Therapeutics Inc. (NASDAQ: TNGX): Goldman Sachs started coverage with a Buy rating and a $17 price target. No consensus target was available as the stock had a recent initial public offering. The stock has traded between $8.90 and $14.00 a share so far.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX): Jefferies reiterated a Buy rating on the stock with a $230 price target. That compares with a higher $260 consensus price objective. The 52-week trading range is $185.33 to $280.99.
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