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Wednesday Afternoon Analyst Upgrades and Downgrades: AbbVie, Biogen, DoorDash, Kratos Defense, PayPal and More
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Markets edged higher on Wednesday despite a huge jump in inflation. The Bureau of Labor Statistics’ Consumer Price Index (CPI) for the month of December reported a 7.0% increase in prices on a year over year basis. Essentially, inflation is increasing at its fastest level since 1982.
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 JD.com, Krispy Kreme, Lucid, Regions Financial, Shopify, Snowflake and more.
AbbVie Inc. (NYSE: ABBV): BMO Capital Markets reiterated an Outperform rating and raised the price target to $153 from $134. Shares were trading around $137 on Wednesday, and the 52-week range is $101.81 to $138.15.
Albertsons Companies Inc. (NYSE: ACI): UBS reiterated a Neutral rating and cut the price target to $31 from $33. The 52-week trading range is $15.97 to $37.85, and shares were last seen trading near $30.
Analog Devices, Inc. (NASDAQ: ADI): Barclays reiterated an Overweight rating and cut the price target to $180 from $195. The 52-week range is $142.25 to $191.95, and shares were trading near $174 apiece.
Biogen Inc. (NASDAQ: BIIB): Piper Sandler downgraded to a Neutral rating from Overweight and cut the price target to $216 from $362. Shares were trading around $224 on Wednesday, and the consensus target price is $308.50.
DoorDash Inc. (NYSE: DASH): Evercore ISI upgraded to an Outperform rating from In Line with a $256 price target. Shares were trading around $142 on Wednesday. The 52-week range is $110.13 to $257.25.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS): Goldman Sachs downgraded to a Neutral rating from Buy and cut the price target to $21 from $30. The 52-week range is $16.78 to $34.11 and shares were trading near $17 apiece.
LendingClub Corp. (NYSE: LC): Janney upgraded to a Buy rating from Neutral with a $32 price target. Shares were trading around $25 on Wednesday. The 52-week range is $9.50 to $49.21.
PayPal Holdings Inc. (NASDAQ: PYPL): Jefferies downgraded to a Hold rating from Buy and cut the price target to $200 from $255. Shares were trading around $188 on Wednesday, and the consensus target price is $270.87.
Take-Two Interactive Software Inc. (NASDAQ: TTWO): BMO Capital Markets upgraded to an Outperform rating from Market Perform with a $180 price target. Shares were trading around $156 on Wednesday, and the consensus target price is $214.54.
Wells Fargo & Co. (NYSE: WFC): Piper Sandler upgraded to an Overweight rating from Neutral and raised the price target to $64 from $50. The 52-week trading range is $29.68 to $56.71, and shares were last seen trading near $56.
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