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Monday Afternoon's Analyst Upgrades and Downgrades: Amazon, Chewy, Micron, PayPal and More
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Markets started out the week on a negative note, after posting a handy recovery last week. Monday morning’s apprehension is due partly to the Federal Reserve’s monetary policy decision, which comes out later this week. Also, oil prices dipped to $71 per barrel, while Bitcoin slid below $48,000.
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 Apple, Coca-Cola, Merck, Pfizer, Shopify, Spirit Airlines and more.
Amazon.com Inc. (NASDAQ: AMZN): Cowen reiterated an Outperform rating and raised the price target to $4,500 from $4,300. Shares were last seen near $3,405 on Monday, and they have a 52-week range of $2,881.00 to $3,773.08.
BigCommerce Holdings Inc. (NASDAQ: BIGC): Goldman Sachs started coverage with a Buy rating and a $60 price target. The consensus price target is $69.73, and shares were trading near $38 apiece.
Cambium Networks Corp. (NASDAQ: CMBM): JPMorgan downgraded the shares to Neutral from Overweight and cut the $49 price target to $30. Shares were trading around $24 on Monday, and the consensus target price is $52.38.
Chewy Inc. (NYSE: CHWY): Piper Sandler reiterated an Overweight rating and cut the price target to $70 from $100. Shares were trading around $54 on Monday, and the 52-week range is $50.05 to $120.00.
Community Health Systems Inc. (NYSE: CYH): The BofA Securities upgrade to Buy from Underperform included a price target hike to $16 from $14. The 52-week trading range is $7.01 to $17.04, and shares were last seen near $13.
Micron Technology Inc. (NASDAQ: MU): UBS reiterated a Buy rating and raised the price target to $99 from $90. Shares were trading around $85 on Monday, and the consensus target price is $100.05.
National Instruments Corp. (NASDAQ: NATI): JPMorgan upgraded it to Neutral from Underweight and raised the price target to $48 from $46. Shares were trading around $103 on Monday, and the 52-week trading range is $59.42 to $106.31.
PayPal Holdings Inc. (NASDAQ: PYPL): Wolfe Research reiterated an Outperform rating and cut the price target to $250 from $300. Shares were last seen near $189 on Monday, and they have a 52-week range of $179.15 to $310.16.
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