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Monday Afternoon's Analyst Upgrades and Downgrades: Canadian Pacific, TJX, UPS, Wells Fargo and More
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Black Friday was the worst trading session of the year, so far, dating back to October 2020. While concerns of the Omicron variant might have overtaken investors’ fears for a time, the markets saw a handy recovery on Monday. Having the weekend to digest fear and turkey seems to have helped the markets for now. It’s a question now of how quickly can stocks return to all-time highs.
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 BlackRock, Deere, Dick’s Sporting Goods, Mastercard, Merck and more.
Allbirds Inc. (NASDAQ: BIRD): Telsey Advisory started coverage with an Outperform rating and a $25 price target. Piper Sandler started with it an Overweight rating and a $26 price target, while BofA Securities started it with a Buy rating and a $23 price target. Shares were trading around $19 on Monday, and a 52-week range is $18.35 to $32.44.
Canadian Pacific Railway Ltd. (NYSE: CP): Deutsche Bank downgraded the stock to a Hold rating from Buy and lowered the price target to $80 from $81. Shares were last seen near $72 on Monday, and they have a 52-week range of $64.19 to $83.07.
Hyatt Hotels Corp. (NYSE: H): JPMorgan’s upgrade to Overweight from Neutral included a price target hike to $101 from 90. Shares were trading around $81 on Monday, and the consensus target price is $84.54.
iBio Inc. (NYSE: IBIO): JMP Securities started coverage with a Market Perform rating and a $1.50 price target. The consensus price target is $3.00, and shares were trading near $1 apiece.
NerdWallet Inc. (NASDAQ: NRDS): Morgan Stanley started with an Equal Weight rating and a $24 price target. KeyBanc Capital Markets started with an Overweight rating and a $35 price target. Barclays initiated coverage with an Overweight rating and a $29 price target. The 52-week trading range is $21.30 to $34.44, and shares were last seen near $21.
TJX Companies Inc. (NYSE: TJX): Citigroup upgraded the shares to Buy from Neutral. The 52-week trading range is $61.15 to $76.94, and the share price was near $71.
Truist Financial Corp. (NYSE: TFC): Stephens upgraded its Equal Weight rating to Overweight and raised its $64 price target to $68. Shares were trading near $61 on Monday, and the consensus price target is $66.91.
United Parcel Service Inc. (NYSE: UPS): Deutsche Bank’s downgrade to Hold from Buy included a price target cut to $221 from $253. The consensus target is $231.555. The stock was trading on Monday above $204.
Wells Fargo & Co. (NYSE: WFC): Odeon upgraded the bank to Buy from Hold. Shares were trading near $48, and the 52-week range is $27.28 to $52.57.
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