Investing
Friday Afternoon Analyst Upgrades and Downgrades: GlaxoSmithKline, Nikola, Shake Shack and More
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Markets continued their rally into the weekend, after a stronger-than-expected employment report for the month of October. Overall, the report showed that payrolls grew by 531,000 and that the unemployment rate fell to 4.6%. The S&P 500, Dow Jones industrials and Nasdaq responded in kind, hitting more record highs in the session.
24/7 Wall St. is reviewing some big analyst calls seen on Friday. 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 Costco, Electronic Arts, Etsy, Lyft, Qualcomm, Roku and more.
BigCommerce Holdings Inc. (NASDAQ: BIGC): Canaccord Genuity upgraded the stock to a Buy rating from Hold and has a $70 price target. Shares were trading around $54 on Friday, in a 52-week range of $42.17 to $96.66.
Citrix Systems Inc. (NASDAQ: CTXS): Morgan Stanley’s downgrade was to Underweight from Equal Weight, and the firm has an $85 price target. Shares were trading above $92 on Friday, and the consensus target price is $113.68.
GlaxoSmithKline PLC (NYSE: GSK): Barclays raised its Underweight rating to Equal Weight. Shares were trading near $43, and the consensus target price is $45.51.
Nikola Corp. (NASDAQ: NKLA): BTIG Research downgraded the stock to Neutral from Buy. Shares were trading near $14 on Friday, and the consensus price target is $15.00.
Papa John’s International Inc. (NASDAQ: PZZA): Northcoast downgraded from Buy to Neutral with a $136 price target. Deutsche Bank’s downgrade was to Hold from Buy, though it raised the price target to $136 from $127. Shares were trading above $136 on Friday, and the consensus price target is $131.00.
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN): Benchmark downgraded shares to Hold from Buy. The 52-week trading range is $441.00 to $686.62, and the share price was near $602.
Shake Shack Inc. (NYSE: SHAK): BTIG Research upgraded it to Buy from Neutral and has a $100 price target. The consensus price target is $94.94, and shares were changing hands near $88 apiece.
Sarepta Therapeutics, Inc. (NASDAQ: SRPT): JPMorgan’s upgrade was from Neutral to Overweight with a $130 price target. The 52-week range is $65.30 to $181.83, and the share price was near $90.
Vimeo Inc. (NASDAQ: VMEO): Cowen downgraded the stock to Market Perform from Outperform and cut the $50 price target to $30. The 52-week trading range is $23.85 to $57.00, and the share price was around $24.
Five outstanding blue chip stocks have been hit hard this year and are offering growth and income investors incredible entry points and some big and, most importantly, reliable dividends. They are in sectors that look to benefit from the continued reopening of the economy as well.
Note that Cathie Wood’s ARK Invest is loading up on DraftKings and Roku.
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