Monday Afternoon Analyst Upgrades and Downgrades: Bristol-Myers, Intel, Merck, Newell, Snap and More

Investing

Published: November 1, 2021 11:45 am

Markets started out Monday on a positive note after a fairly impressive October. The S&P 500 saw its largest monthly gain, of about 7%, in the past year. Also, the Dow Jones industrials, Nasdaq and S&P 500 had each set record highs last week. As earnings keep rolling in this week, analysts will keep churning out reports, and for now everything looks fairly positive.

24/7 Wall St. is reviewing some big analyst calls seen on Monday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Amazon, Apple, Bank of America, IBM, Starbucks and more.

Acadia Pharmaceuticals Inc. (NASDAQ: ACAD): Guggenheim upgraded the stock to a Buy rating from Neutral and has a $23 price target. Shares were trading above $19 on Monday, in a 52-week range of $15.68 to $57.46.

Bristol-Myers Squibb Co. (NYSE: BMY): Argus lowered its Buy rating to Hold. The 52-week range is $56.11 to $69.75, and the share price is nearly $59.

Intel Corp. (NASDAQ: INTC): Northland Capital upgraded it from Underperform to Market Perform with a $49 price target. Shares were trading above $49 on Monday, and the consensus price target is $55.54.

International Paper Co. (NYSE: IP): The Jefferies downgrade to Hold from Buy included a price target cut to $55 from $80. Shares were trading near $49, and the consensus target price is $59.97.

Merck & Co. Inc. (NYSE: MRK): Argus upgraded it to Buy from Hold and has a $110 price target. The 52-week trading range is $68.44 to $88.63, and the share price is near $88.

Newell Brands Inc. (NASDAQ: NWL): JPMorgan upgraded it to Overweight from Neutral and has a $27 price target. The consensus price target is $28.00, and shares were changing hands near $23 or so apiece.

Snap Inc. (NYSE: SNAP): Citigroup raised its Sell rating to Neutral. The 52-week trading range is $37.35 to $83.34, and the share price was around $53.

Spotify Technology S.A. (NYSE: SPOT): Bernstein’s upgrade was to Market Perform from Underperform. Shares were trading near $300 on Monday, and the consensus price target is $315.27.

Tilray Inc. (NASDAQ: TLRY): Cantor Fitzgerald downgraded the shares to Neutral from Overweight and cut the $18 price target to $11.80. Shares were trading above $10 on Monday, and the consensus target price is $15.45.

24/7 Wall St.
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