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Monday Afternoon's Analyst Upgrades and Downgrades: Affirm, Discover Financial, Fox, Newmont, Victoria's Secret and More

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Markets started off the week on a negative note, with all three major averages posting a loss of over 2%. Earnings season is currently underway, and it has been less than impressive. This, coupled with the Federal Reserve planning on raising rates, has made for a particularly rough few weeks. Markets are in correction territory, and it is anybody’s guess where they go from here.

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 Cloudflare, Comcast, Netflix, Snap, Southwestern Energy and more.

Affirm Holdings Inc. (NASDAQ: AFRM): Stephens upgraded the stock to an Equal Weight rating from Underweight and has a $72 price target. Shares were trading around $54 on Monday, and the 52-week range is $46.50 to $176.65.

Booz Allen Hamilton Holdings Corp. (NYSE: BAH): Barclays upgraded the shares to Overweight from Equal Weight and raised the price target to $105 from $90. Shares were trading at around $86 on Monday. The 52-week range is $75.15 to $100.26.

Charter Communications Inc. (NASDAQ: CHTR): While RBC Capital Markets upgraded it to Outperform rating from Sector Perform, it also cut the price target to $690 from $770. Shares were trading around $573 on Monday, and the consensus target price is $754.39.

Discover Financial Services (NYSE: DFS): Piper Sandler’s upgrade to Overweight from Neutral included a price target hike to $142 from $125. Shares were trading around $113 on Monday, and the consensus target price is $142.71.

Equifax Inc. (NYSE: EFX): Robert Baird lifted its Neutral rating to Outperform but cut the $290 price target to $281. The 52-week trading range is $161.87 to $300.11, and shares were near $222 apiece.

Fox Corp. (NASDAQ: FOXA): UBS upgraded it to Buy from Neutral and raised the price target to $50 from $42. Shares were trading around $38 on Monday, and the 52-week range is $30.03 to $44.80.

Newmont Corp. (NYSE: NEM): Scotiabank’s downgrade was to Sector Perform from Outperform. The 52-week trading range is $52.60 to $75.31, and shares were last seen trading near $62.

PPG Industries Inc. (NYSE: PPG): Wells Fargo downgraded from Overweight to Equal Weight with a $170 price target. Shares were trading around $150 on Monday, and the 52-week range is $132.10 to $182.97.

ResMed Inc. (NYSE: RMD): BofA Securities upgraded the shares to Neutral from Underperform and raised the price target to $250 from $239. The 52-week trading range is $179.37 to $301.34, and shares were last seen trading near $232.

Splunk Inc. (NASDAQ: SPLK): BTIG Research upgraded it from Neutral to Buy with a $155 price target. The 52-week range is $105.45 to $178.18, and shares were trading near $115 apiece.

Victoria’s Secret & Co. (NYSE: VSCO): UBS initiated coverage with a Neutral rating and a $59 price target. Shares were trading around $50 on Monday. The 52-week range is $45.65 to $76.00.

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