Investing
Friday Afternoon's Analyst Upgrades and Downgrades: Blink, Caesars, Penn National Gaming, Southwestern Energy and More
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After a tumultuous week of trading, the broad markets seem to have things back under control. While the major averages had a strong start to the week, a couple down days broke the S&P 500’s winning streak and pulled markets back down from their record highs. Friday started out on a positive note but it is yet to be seen where markets will end the day.
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 Beyond Meat, Hewlett Packard Enterprise, Lordstown Motors, Nvidia, Walt Disney and more.
Blink Charging Co. (NASDAQ: BLNK): Roth Capital upgraded the stock to a Buy rating from Neutral and has a $45 price target. The consensus price target is $35.00, and shares were changing hands near $40 apiece.
Bright Health Group Inc. (NYSE: BHG): Morgan Stanley’s downgrade to Equal Weight from Overweight came with a price target cut to $5 from $13. Shares sank to a new 52-week low under $5 on Friday, and they have traded as high as $17.93 in the past year.
Caesars Entertainment Inc. (NASDAQ: CZR): B. Riley Securities started coverage with a Buy rating and a $191 price target. The 52-week trading range is $58.83 to $119.81, and shares were last seen near $105.
Celsius Holdings Inc. (NASDAQ: CELH): Credit Suisse lowered its Outperform rating to Neutral but raised its $82 price target to $103. Shares sank below $89 on Friday, and the consensus target price is $106.40.
Domino’s Pizza Inc. (NYSE: DPZ): Benchmark initiated coverage with a Hold rating. Shares were trading near $512, but the consensus target price is $522.61.
El Pollo Loco Holdings Inc. (NASDAQ: LOCO): Benchmark started with coverage a Hold rating. Shares were trading shy of $15 on Friday, and the consensus price target is $18.00.
Fortuna Silver Mines Inc. (NYSE: FSM): BMO Capital Markets lowered its Outperform rating to Market Perform. Also, Canaccord Genuity downgraded the stock to Sell from Hold. The 52-week range is $3.74 to $9.85, and the share price was near $4.
Penn National Gaming Inc. (NASDAQ: PENN): Deutsche Bank upgraded it from Sell to Hold with a $31 price target. The 52-week trading range is $55.65 to $142.00, and the share price was near $59.
Southwestern Energy Co. (NYSE: SWN): U.S. Capital Advisors downgraded the stock Overweight to Hold. The consensus target is $7.44. The stock was trading on Friday above $5.
Wix.com Ltd. (NASDAQ: WIX): Needham reiterated a Buy rating but cut the $265 price target to $250. Shares were trading near $200 on Friday, and the consensus price target is $255.68.
With the potential for a sizable correction looming, and interest rates still at some of the lowest levels this year, investors may want to consider Dividend Aristocrats that are in sectors that are considered defensive in nature. Five top defensive stocks look like great ideas for growth and income investors after this week’s very alarming inflation data.
Note that Cathie Wood’s ARK Invest continues to reduce its stake in Pfizer.
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