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Tuesday Afternoon Analyst Upgrades and Downgrades: Delta Air, Gap, Under Armour and More
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Markets were crushed to start out the week, with each of the major averages posting a loss of more than 1% so far on the day. This comes as bond yields are rising, with the 10-year Treasury note hitting its highest level in two years. While the fourth-quarter earnings season is off to a weak start, there are still big names coming that could turn things around.
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 Airbnb, Alibaba, ConocoPhillips, Honeywell, JPMorgan, Walmart and more.
AvalonBay Communities Inc. (NYSE: AVB): Barclays upgraded the stock to an Overweight rating from Underweight and raised the price target to $263 from $225. Shares were trading around $246 on Tuesday, and the 52-week range is $160.94 to $257.52.
Brinker International Inc. (NYSE: EAT): Wedbush downgraded it to Neutral from Outperform and cut the price target to $42 from $54. The 52-week range is $33.52 to $78.33, and shares were trading near $35 apiece.
Charter Communications Inc. (NASDAQ: CHTR): Exane BNP Paribas lowered its Outperform rating to Neutral. The 52-week trading range is $580.38 to $825.62, and shares were near $587 apiece.
CytomX Therapeutics Inc. (NASDAQ: CTMX): The Barclays upgrade was from Underweight to Overweight with a $7 price target. The 52-week trading range is $3.67 to $10.05, and shares were last seen trading near $4.
Delta Air Lines Inc. (NYSE: DAL): Argus upgraded the shares to Buy from Hold and has a $46 price target. Shares were trading around $40 on Tuesday, and the consensus target price is $52.06.
Dollar General Corp. (NYSE: DG): Morgan Stanley’s downgrade was to Equal Weight from Overweight, and it cut the $250 target price to $225. Shares were trading around $211 on Tuesday. The 52-week range is $173.50 to $240.14.
Gap Inc. (NYSE: GPS): Morgan Stanley downgraded is to Underweight from Equal Weight and cut the price target to $14 from $20. Shares were trading around $17 on Tuesday. The 52-week range is $15.84 to $37.63.
Hyatt Hotels Corp. (NYSE: H): Macquarie raised its Neutral rating to Outperform with a $110 price target. Truist upgraded it to Buy from Hold and raised the price target to $106 from $78. Shares were trading around $91 on Tuesday, and the consensus target price is $91.20.
Illumina Inc. (NASDAQ: ILMN): Stifel upgraded the shares to Buy from Hold and has a $480 price target. Shares were trading around $397 on Tuesday, and the consensus target price is $429.94.
Sherwin-Williams Co. (NYSE: SHW): Wells Fargo’s downgrade to Equal Weight from Overweight included a price target cut to $335 from $380. The 52-week trading range is $218.06 to $354.15, and shares were last seen near $300.
Six Flags Entertainment Corp. (NYSE: SIX): Oppenheimer upgraded the stock to Outperform from Perform and has a $54 price target. The 52-week trading range is $30.88 to $51.75, and shares were last seen trading near $41.
Under Armour Inc. (NYSE: UAA): BMO Capital Markets upgraded the shares to Outperform from Market Perform and raised the price target to $25 from $23. Shares were trading around $19 on Tuesday, and the 52-week range is $17.16 to $27.28.
Unilever PLC (NYSE: UL): Bernstein’s downgrade was to Underperform from Market Perform. The 52-week range is $48.27 to $61.81, and shares were trading near $48 apiece.
Vale S.A. (NYSE: VALE): RBC Capital Markets upgraded it to Sector Perform from Underperform and raised the $12.50 price target to $17. The 52-week trading range is $11.16 to $23.18, and shares were last seen trading near $16.
Zscaler Inc. (NASDAQ: ZS): Morgan Stanley upgraded the stock to Overweight from Equal Weight but cut the price target to $325 from $330. Shares were trading around $262 on Tuesday, and the consensus target price is $387.78.
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