Tuesday's Top Analyst Upgrades and Downgrades: Beyond Meat, Coinbase, Facebook, IBM, Intel, Kimberly-Clark, Pioneer Natural Resources and More

Investing

Published: October 26, 2021 8:49 am

Last Updated: October 26, 2021 1:38 pm

The futures were up across the board on Tuesday, after a solid Monday risk-off rally in which all the major indexes participated and ended higher. The Dow Jones industrials and the S&P 500 printed new all-time highs, while electric vehicle stocks took off after Tesla reported a massive order from Hertz.

Alphabet and Microsoft will kick off the big-tech earnings after the close Tuesday, and three more mega-cap leaders will report this week as well. The continued market strength is still being attributed to outstanding earnings results coming in, despite ongoing supply chain and inflation issues. Interest rates dropped as buyers of Treasury debt came in across the curve Monday.

Despite the continued market strength, top strategists across Wall Street remain focused on continued rising interest rates, the quantitative easing tapering due to begin next month, big increases in energy costs, ongoing supply chain issues and stagflation worries. Toss in the debt ceiling issue (which is on hold for now but will return in December) and the ongoing China worries, and the cauldron continues to simmer.

24/7 Wall St. reviews dozens of analyst research reports each day of the week, with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Tuesday, October 26, 2021.

Academy Sports and Outdoors Inc. (NASDAQ: ASO): Wedbush started coverage on the popular retailer with an Outperform rating and a $54 price target. The consensus target is in line at $54.30. The stock closed trading on Monday at $44.62.

Antero Resources Corp. (NYSE: AR): Benchmark initiated coverage with a Buy rating and a $32 price target. The consensus target is just $25.13. The last trade for Monday hit the tape at $21.43.

Bally’s Corp. (NYSE: BALY): Cowen raised its Neutral rating on the gaming and racing giant to Outperform with a $75 price target. The consensus target is $71.71, and Monday’s close was at $49.66 a share.

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Beyond Meat Inc. (NASDAQ: BYND): Credit Suisse downgraded the shares of the plant-based food company to Underperform from Neutral and slashed the price target from $123 to $75. The consensus target is $100.15, and shares ended Monday at $96.00 but were down close to 3% in premarket trading.

Coinbase Global Inc. (NASDAQ: COIN): Citigroup started coverage of the cryptocurrency exchange with a Buy rating and a $415 price target. The consensus target is just $377.40. Monday’s final trade was reported at $325.54.

Coterra Energy Inc. (NASDAQ: CTRA): Raymond James upgraded the stock from Market Perform to Outperform with a $27 price objective. The consensus target is $26.29. The stock popped almost 6% on Monday to close at $22.56.

Coty Inc. (NYSE: COTY): Deutsche Bank raised its Hold rating to Buy with an $11 price target. The consensus target is in line at $10.98, and the stock closed on Monday at $8.00 per share.

Envista Holdings Corp. (NASDAQ: NVST): Though BofA Securities upgraded the stock to Buy from Neutral, it also trimmed the target price to $48 from $49. The consensus price objective is $51.70. The stock closed Monday at $38.46, and shares are up almost 3% in Tuesday’s premarket.

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Facebook Inc. (NASDAQ: FB): Rosenblatt upgraded the social media giant to Buy from Neutral and has a $400 price target. The consensus target is $417.22, and Monday’s closing print was $328.69.

Intel Corp. (NASDAQ: INTC): The BMO Capital Markets downgrade of the venerable chip giant to Market Perform from Outperform included a target price cut to $52 from $60. The consensus target is $56.39. The last trade for Monday was reported at $49.41.

International Business Machines Corp. (NYSE: IBM): Zacks has named this old-school tech giant as its Bear of the Day stock. The analyst points out that Big Blue has disappointed again. Shares last closed at $127.64, and the consensus price target is $151.06.

Kimberly-Clark Corp. (NYSE: KMB): Goldman Sachs slashed the target price on the consumer staples giant to $125 from $142 after the company reported disappointing results. The analyst kept a Neutral rating on the shares, which has a $135.47 consensus target. The stock was last seen on Monday at $130.11, after retreating almost 3% on the day.
Medical Properties Trust Inc. (NYSE: MPW): Raymond James started coverage with a Strong Buy rating and a $25 price target. The consensus target for is $23.54. The final trade for Monday was reported at $20.25.

Pioneer Natural Resources Co. (NYSE: PXD): Goldman Sachs upgraded the target price on the Buy-rated stock to $237 from $213. The posted consensus target is $220.21. The stock closed on Monday at $192.69.

RealReal Inc. (NASDAQ: REAL): Raymond James raised its Market Perform rating to Outperform with a $19 price target. The consensus target is $22. The stock closed at $12.98 on Monday.

SM Energy Co. (NYSE: SM): Raymond James upgraded the stock from Market Perform to Outperform with a $45 price target. The consensus price objective is just $33.52. The shares were last seen on Monday at $32.63.

TechnipFMC PLC (NYSE: FTI): Piper Sandler’s upgrade to Overweight from Neutral included a target price hike to $10.00 from $9.60. The consensus target is just $7.73, near Monday’s close at $7.75. The stock traded almost 3% higher in the premarket.

VersaBank (NASDAQ: VBNK): Raymond James started coverage with a Strong Buy rating and a $15 price target. The stock has traded as high as $14.30 since its recent IPO and closed Monday at $11.80.

Winnebago Industries Inc. (NYSE: WGO): Zacks has selected this as its Bull of the Day. The analyst recommends that investors buy the post-earnings dip. Shares most recently closed at $66.04 and have a consensus price target of $91.57, which would be a 52-week high.

Zynga Inc. (NASDAQ: ZNGA): Goldman Sachs sliced the price target of the video game stock to $10.80 from $12.60 but kept a Buy rating on the shares. The consensus target is $11.62. The stock closed trading on Monday at $7.46.

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Cathie Wood’s ARK Invest continues to dump Tesla shares and now is adding Amazon. Monday’s meme stock movers included Lucid and TMC.

Monday’s early top analyst upgrades and downgrades included Carnival, Five9, Knight-Swift, Las Vegas Sands, Norwegian Cruise Line, Paysafe, Warby Parker and Whirlpool. Analyst calls seen later in the day were on BP, Micron Technology, Regions Financial, Tesla and more.

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