Tuesday Afternoon's Analyst Upgrades and Downgrades: Adobe, Comcast, Ford, GM and More

Investing

Published: December 14, 2021 12:10 pm

Markets pulled back on Tuesday, with the tech sector leading the charge lower. This all comes just before the Federal Reserve plans to announce its monetary policy decision on Wednesday. What many are expecting is rising interest rates; hence, the pullback in tech in anticipation.

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 Apple, Beyond Meat, Chesapeake Energy, CrowdStrike, DraftKings and more.

Adobe Inc. (NASDAQ: ADBE): JPMorgan downgraded the shares to a Neutral rating from Overweight and has a $680 price target. Shares were last seen near $612 on Tuesday, and they have a 52-week range of $420.78 to $699.54.

Academy Sports and Outdoors Inc. (NASDAQ: ASO): Goldman Sachs upgraded the stock to Buy from Neutral and raised the price target to $58 from $47. Oppenheimer initiated coverage with an Outperform rating. The consensus price target is $58.36, and shares were trading near $43 apiece.

Big Lots Inc. (NYSE: BIG): Goldman Sachs downgraded it to Sell and cut the price target to $43 from $58. Shares were trading around $43 on Tuesday, and the consensus target price is $51.22.

Charter Communications Inc. (NASDAQ: CHTR): UBS downgraded it to Neutral from Buy and slashed the $810 price target to $645. Shares were trading around $629 on Tuesday, and the 52-week range is $585.45 to $825.62.

Cloudflare Inc. (NYSE: NET): JPMorgan’s downgrade to Underweight from Neutral included a price target cut to $144 from $212. Shares were last seen near $133 on Tuesday, and they have a 52-week range of $60.96 to $221.64.

Comcast Corp. (NASDAQ: CMCSA): Macquarie downgraded the stock to Neutral from Outperform and cut the price target to $52 from $65. The 52-week trading range is $46.29 to $61.80, and shares were last seen near $49.

Datadog Inc. (NASDAQ: DDOG): JPMorgan lowered its Overweight rating to Neutral with a $195 price target. Shares were trading around $159 on Tuesday, and the consensus target price is $210.33.

Dell Technologies Inc. (NYSE: DELL): Evercore ISI downgraded it to In Line from Outperform and has a $63 price target. Shares were trading around $54 on Tuesday, and the 52-week trading range is $35.57 to $59.49.

Ford Motor Co. (NYSE: F): Daiwa Securities downgraded the carmaker to Underperform but raised the price target to $19 from $16. Shares were last seen near $19 on Tuesday, and they have a 52-week range of $8.43 to $21.49.

General Motors Co. (NYSE: GM): Daiwa Securities lowered its Outperform rating to Neutral with a $65 price target. The consensus price target is $72.80, and shares were trading near $58 apiece.

Planet Fitness Inc. (NYSE: PLNT): The Cowen upgrade was to Outperform from Market Perform, and the firm raised the $92 price target to $100. Shares were trading around $86 on Tuesday, and the consensus target price is $97.80.

Public Storage (NYSE: PSA): Citigroup upgraded the shares to Buy from Neutral and raised the price target to $400 from $353. Shares were trading around $350 on Tuesday, and the 52-week range is $2121.22 to $357.31.

Ralph Lauren Corp. (NYSE: RL): The Goldman Sachs downgrade to Sell from Buy included a price target cut to $110 from $142. Shares were last seen near $116 on Tuesday, and they have a 52-week range of $97.72 to $142.06.

SolarWinds Corp. (NYSE: SWI): JPMorgan downgraded it to a Neutral rating from Overweight and lowered the price target to $16 from $23. The 52-week trading range is $13.57 to $23.00, and shares were last seen near $14.

Ventas Inc. (NYSE: VTR): Citigroup raised the Neutral rating to Buy with a $63 price target. Shares were trading around $48 on Tuesday, and the consensus target price is $60.33.

Zscaler Inc. (NASDAQ: ZS): JPMorgan downgraded the shares to Underweight from Neutral and cut the price target to $320 from $362. Shares were trading around $280 on Tuesday, and the 52-week trading range is $157.03 to $376.11.

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

Three top stocks are among the top aerospace and defense selections at Goldman Sachs. While perhaps not as exciting as momentum-juiced technology stocks, they have robust growth potential and will stand long after many meme stocks are in the Wall Street graveyard.

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