Monday Afternoon's Analyst Upgrades and Downgrades: Amazon, Chewy, Micron, PayPal and More

Investing

Published: December 13, 2021 11:45 am

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.

ALSO READ: 5 Goldman Sachs Conviction List Dividend Stocks Are Almost Inflation Proof

24/7 Wall St. screened the top stock picks at Goldman Sachs looking for the kind of companies that can fare well in 2022. Five pay reliable dividends and their stocks offer excellent entry points at current levels and look like very solid ideas now.

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