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Tuesday Afternoon's Analyst Upgrades and Downgrades: AIG, eBay, First Solar, Nextdoor, Travelers and More
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Markets turned lower on Tuesday, with tech stocks leading the charge lower. Investors are still considering the implications from the recent announcement that Jerome Powell would be renominated as chairperson of the Federal Reserve. While this could mean tapering in the near future, it does provide some stability in leadership for the Fed over the coming years.
24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. 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.com, Comcast, General Electric, Nvidia, Salesforce.com, Western Digital and more.
American International Group Inc. (NYSE: AIG): Goldman Sachs started coverage with a Buy rating and a $74 price target. Shares traded near $58 on Tuesday, and they have a 52-week range of $36.77 to $62.54.
Booking Holdings Inc. (NASDAQ: BKNG): Wolfe Research reiterated an Outperform rating and raised the price target to $2,940 from $2,820. Shares were trading around $2,315 on Tuesday, and the consensus target price is $2,706.57.
Bumble Inc. (NASDAQ: BMBL): Though Evercore ISI upgraded the stock to Outperform from In Line, it also cut the $55 price target to $50. The consensus price target is $58.64, and shares were trading near $35 apiece.
eBay Inc. (NASDAQ: EBAY): Guggenheim lowered its Buy rating to Neutral with an $80 price target. Shares traded near $73 on Tuesday, and the consensus price target is $77.76.
First Solar Inc. (NASDAQ: FSLR): Wells Fargo started coverage with an Equal Weight rating and a $115 price target. The 52-week trading range is $67.71 to $123.13, and shares were last seen near $107.
GXO Logistics Inc. (NYSE: GXO): Loop Capital’s downgrade was to Hold from Buy, and the firm has a $106 price target. Shares were trading near $103, and the 52-week range is $61.05 to $105.92.
Nextdoor Holdings Inc. (NYSE: KIND): Evercore ISI started coverage with an Outperform rating and a $16 price target. The 52-week trading range is $10.78 to $18.59, and the share price was near $11.
Spire Inc. (NYSE: SR): The BofA Securities downgrade to Underperform from Neutral included a price target cut to $58 from $63. The consensus target is $70.70. The stock was trading on Tuesday around $62.
Travelers Companies Inc. (NYSE: TRV): Goldman Sachs initiated coverage with a Neutral rating and a $165 price target. Shares were trading near $159 on Tuesday, and the consensus price target is $164.06.
Five top companies have very strong positions in their respective sectors and are expected to post outstanding sales growth in 2022. The value proposition for investors is that their stocks offer some of the best entry points in some time, which could bode very well for those buying the shares now.
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