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Monday Afternoon Analyst Upgrades and Downgrades: Marathon Oil, Micron Technology, Nike and More
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Markets tumbled again to start out the week, with each of the major averages down 1% or more. The Nasdaq was getting the worst of it, posting a loss of more than 2% on the day. After last week’s loss, this is perhaps the worst start to the fiscal year in the past decade.
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 Airbnb, AT&T, Duke Energy, Etsy, IBM, Kohl’s, Nvidia, Starbucks and more.
Accenture PLC (NYSE: ACN): Goldman Sachs initiated coverage with a Neutral rating and a $446 price target. Shares were trading around $362 on Monday, and the 52-week range is $241.73 to $417.37.
Apria Inc. (NASDAQ: APR): Citigroup resumed coverage with a Buy rating and a $39 price target. The 52-week trading range is $20.07 to $40.00, and shares were last seen trading near $37.
Dell Technologies Inc. (NYSE: DELL): Bernstein upgraded the stock to Outperform from Market Perform and has a $72 price target. The 52-week range is $35.57 to $59.75, and shares were trading near $59 apiece.
Expedia Group Inc. (NASDAQ: EXPE): Piper Sandler upgraded the shares to Overweight from Neutral and raised the price target to $216 from $197. Shares were trading around $176 on Monday, and the consensus target price is $190.77.
F5 Inc. (NASDAQ: FFIV): Evercore ISI raised its In Line rating to Outperform rating and hiked its $240 price target to $275. Shares were trading around $235 on Thursday. The 52-week range is $174.34 to $249.00.
Hyatt Hotels Corp. (NYSE: H): BofA Securities upgraded it to Buy from Underperform and raised the price target to $110 from $85. The 52-week range is $65.44 to $99.00, and shares were trading near $94 apiece.
Hilton Worldwide Holdings Inc. (NYSE: HLT): Bernstein’s downgrade was from Outperform to Market Perform with a $161 price target. Shares were trading around $147 on Monday. The 52-week range is $98.57 to $159.21.
Marathon Oil Corp. (NYSE: MRO): BofA Securities downgraded it to Underperform from Neutral but raised the price target to $19 from $18. Shares were trading around $17 on Monday, and the consensus target price is $20.53.
Medtronic PLC (NYSE: MDT): BTIG Research’s downgrade was to Neutral from Buy. Shares were trading around $104 on Monday, and the consensus target price is $130.24.
Micron Technology Inc. (NASDAQ: MU): New Street initiated coverage with a Buy rating and a $135 price target. BofA Securities reiterated a Buy rating and raised its $100 price target to $118. The 52-week trading range is $65.67 to $98.45, and shares were last seen trading near $92.
Mohawk Industries Inc. (NYSE: MHK): Evercore ISI downgraded shares to In Line from Outperform, and the firm has a $195 price target. Shares were trading around $172 on Monday, and the consensus target price is $213.29.
Nike Inc. (NYSE: NKE): The HSBC Securities downgrade was to Hold from Buy, and the firm trimmed the $184 price target to $182. The 52-week range is $125.44 to $179.10, and shares were trading near $150 apiece.
Northrop Grumman Corp. (NYSE: NOC): Wells Fargo upgraded it to Equal Weight from Underweight. Shares were trading around $402 on Monday, and the consensus target price is $401.12.
Public Storage (NYSE: PSA): Jefferies upgraded the stock from Hold to Buy with a $433 price target. Shares were trading around $358 on Thursday. The 52-week range is $217.87 to $377.36.
Raymond James Financial Inc. (NYSE: RJF): JMP Securities reduced its Outperform rating to Market Perform. The 52-week range is $62.94 to $109.19, and shares were trading near $107 apiece.
SolarEdge Technologies Inc. (NASDAQ: SEDG): UBS upgraded it to Neutral from Sell and raised the price target to $280 from $250. Goldman Sachs reiterated a Buy rating and raised its price target to $448 from $420. Shares were trading around $243 on Monday. The 52-week range is $199.33 to $389.71.
Unity Software Inc. (NYSE: U): BTIG Research upgraded the shares to Buy from Neutral and has a $171 price target. Shares were trading around $116 on Monday, and the consensus target price is $173.76.
Zscaler Inc. (NASDAQ: ZS): The UBS upgrade was to Buy from Neutral, and the firm lowered the price target to $350 from $380. Shares were trading around $251 on Monday, and the consensus target price is $388.72.
It makes sense for investors now to rotate to value, especially mid-cap and large-cap plays that pay dependable dividends. Five top stocks are trading at very reasonable levels and are solid value plays in a market that looks poised to take a big hit.
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