Investing
Wednesday Afternoon's Analyst Upgrades and Downgrades: AeroVironment, AutoZone, BigCommerce, NXP Semiconductors, Roblox, Stitch Fix and More
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Markets were somewhat mixed on Wednesday as they cooled down after a strong two-day rally. While the tech sector was still pushing higher, cyclicals lagged and pushed the Dow into the red. The Nasdaq and S&P 500 were still positive for the day.
24/7 Wall St. is reviewing some big analyst calls seen on Wednesday. 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 Boeing, Goodyear, Honeywell, Kraft Heinz, Lowes, Nio, Starbucks, and more.
Apellis Pharmaceuticals, Inc. (NASDAQ: APLS): Wells Fargo initiated coverage with an Overweight rating and an $84 price target. Shares were last seen near $43 on Wednesday, and they have a 52-week range of $27.50 to $73.00.
AeroVironment Inc. (NASDAQ: AVAV): Canaccord Genuity downgraded to a Hold rating from Buy and cut the price target to $64 from $140. The consensus price target is $121.80, and shares were trading near $62 apiece.
AutoZone Inc. (NYSE: AZO): Morgan Stanley reiterated an Equal Weight rating and raised the price target to $2,050 from $1,710. Citigroup reiterated a Buy rating and raised the price target to $2,332 from $1,950. Goldman Sachs reiterated a Neutral rating and raised the price target to $2,045 from $1,779. Shares were trading around $1,975 on Wednesday, and the 52-week range is $1,098.69 to $2,028.66.
BigCommerce Holdings, Inc. (NASDAQ: BIGC): BofA Securities started with a Buy rating and a $66 price target. Shares were trading around $43 on Wednesday, and the consensus target price is $70.10.
Elastic N.V. (NYSE: ESTC): JPMorgan upgraded to an Overweight rating from Neutral with a $156 price target. Shares were last seen near $130 on Wednesday, and they have a 52-week range of $97.89 to $189.84.
Horizon Therapeutics PLC (NASDAQ: HZNP): Wells Fargo started with an Overweight rating and a $137 price target. Shares were trading around $104 on Wednesday, and the consensus target price is $143.84.
NXP Semiconductors N.V. (NASDAQ: NXPI): UBS started with a Sell rating and a $170 price target. The 52-week trading range is $152.93 to $239.91, and shares were last seen near $240.70.
Roblox Corp. (NYSE: RBLX): KeyBanc Capital Markets started with a Sector Weight rating. Shares were trading around $125 on Wednesday, and the 52-week range is $60.50 to $141.60.
Stitch Fix Inc. (NASDAQ: SFIX): KeyBanc Capital Marktes downgraded to a Sector Weight rating from Overweight. BMO Capital Markets reiterated a Market Perform rating and cut the price target to $25 from $40. Wells Fargo reiterated an Underweight rating and cut the price target to $14 from $35. The 52-week trading range is $17.92 to $113.76, and the share price was near $19.
Vizio Holding Corp. (NYSE: VZIO): Craig Hallum started with a Buy rating and a $28 price target. Shares were trading near $20 on Wednesday, and the consensus price target is $28.75.
With some strategists seeing tepid, single-digit gains in store for 2022, it makes sense to consider dependable dividends, as total return could be the name of the game next year. Five top stocks could be strong plays in a very inflationary world.
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