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Tuesday Afternoon's Analyst Upgrades and Downgrades: Alibaba, Apple, Canopy Growth, Tesla and More

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Markets rallied early on Tuesday, with the tech sector playing a central role. Concerns about the Omicron variant seem to be receding as more data comes to light. After last week facing down what was perhaps the worst trading week of the year, the bulls seem to be taking charge — at least for now.

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 Bumble, Goldman Sachs, Juniper Networks, Merck, Moderna, Petco Health, Wells Fargo and more.

Air Products and Chemicals Inc. (NYSE: APD): Evercore ISI downgraded the stock to an In Line rating from Outperform. Shares were last seen near $296 on Tuesday, and they have a 52-week range of $245.75 to $316.39.

Alibaba Group Holding Ltd. (NYSE: BABA): Macquarie resumed coverage with an Outperform rating and a $162 price target. The consensus price target is $212.05, and shares were trading near $125 apiece.

Apple Inc. (NASDAQ: AAPL): Morgan Stanley reiterated an Overweight rating and raised the price target to $200 from $164. Shares were trading around $169 on Tuesday, and the 52-week range is $116.21 to $170.30.

AstraZeneca PLC (NASDAQ: AZN): The Jefferies downgrade was to Hold from Buy. Shares were trading around $54 on Tuesday, and the consensus target price is $69.28.

Canopy Growth Corp. (NASDAQ: CGC): Wells Fargo started coverage with an Underweight rating and an $8 price target. The 52-week trading range is $9.54 to $56.50, and shares were last seen near $10.

CarMax Inc. (NYSE: KMX): JPMorgan upgraded it to Overweight from Neutral and raised the price target to $160 from $140. Shares were trading around $150 on Tuesday, and the 52-week range is $90.30 to $155.98.

CNX Resources Corp. (NYSE: CNX): JPMorgan lowered its Overweight rating to Neutral with an $18 price target. The 52-week trading range is $9.02 to $16.08, and the share price was near $13.

CRISPR Therapeutics AG (NASDAQ: CRSP): Cowen initiated coverage with a Market Perform rating. Shares were trading near $76 on Tuesday, and the consensus price target is $154.90.

Global Blood Therapeutics Inc. (NASDAQ: GBT): William Blair’s upgrade was to Outperform from Market Perform rating. Shares were last seen near $30 on Tuesday, and they have a 52-week range of $25.11 to $52.49.

Jack in the Box Inc. (NASDAQ: JACK): The Deutsche Bank upgrade to Buy from Hold included a price target cut to $108 from $122. Shares were trading around $85 on Tuesday, and the consensus target price is $110.71.

Murphy Oil Corp. (NYSE: MUR): JPMorgan upgraded it to Overweight from Neutral and raised the $29 price target to $37. The consensus price target is $31.75, and shares were trading near $29 apiece.

Ross Stores Inc. (NASDAQ: ROST): Cowen lowered its Outperform rating to Market Perform and cut the price target to $109 from $131. The 52-week trading range is $104.79 to $134.22, and shares were last seen near $112.

Tesla Inc. (NASDAQ: TSLA): UBS reiterated a Neutral rating and raised the price target to $1,000 from $725. The 52-week trading range is $539.49 to $1,243.49, and the share price was near $1,046.


As tax-loss selling season arrives, five stocks may be some of the best bargains for investors looking to reset portfolios for 2022. They are Buy-rated large-cap names with very strong positions in their respective sectors.

 

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