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Thursday Afternoon's Analyst Upgrades and Downgrades: Equifax, Corning, Iridium Communications, KB Home, Tesla and More
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Markets were mixed on Thursday afternoon following an upbeat report on fourth-quarter gross domestic product. This contrasts somewhat with the recent Federal Reserve decision to hike interest rates in the coming months. While the Fed appears to be taking its time with this decision, markets have fallen into correction territory in anticipation.
24/7 Wall St. is reviewing some big analyst calls seen on Thursday. 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 Applied Materials, Bloom Energy, PayPal, Plug Power, Shopify and more.
Alkermes PLC (NASDAQ: ALKS): Cantor Fitzgerald upgraded the stock to an Overweight rating from Hold and has a $32 price target. Shares were trading around $25 on Thursday, and the 52-week range is $18.02 to $33.00.
Clean Energy Fuels Corp. (NASDAQ: CLNE): Evercore ISI upgraded it to Outperform from Underperform and has an $11 price target. Shares were trading at around $5 on Thursday. The 52-week range is $4.70 to $19.79.
Corning Inc. (NYSE: GLW): Goldman Sachs upgraded it to a Buy rating from Neutral and raised the price target to $50 from $38. Citigroup reiterated a Buy rating and lowered the price target to $46 from $47. Barclays reiterated an Overweight rating and raised its target to $52 from $47. The 52-week trading range is $33.93 to $46.82, and shares traded near $40 apiece.
Cronos Group Inc. (NASDAQ: CRON): Jefferies upgraded the shares to Hold from Underperform. The stock was trading around $3 on Thursday, and the consensus target price is $6.03.
Equifax Inc. (NYSE: EFX): Truist’s upgrade was from Hold to Buy with a $280 price target. Shares were trading around $225 on Thursday, and the consensus target price is $298.47.
Iridium Communications Inc. (NASDAQ: IRDM): Sidoti upgraded it to Buy rating Neutral with a $44 price target. Shares were trading around $34 on Thursday, and the 52-week range is $32.85 to $54.65.
KB Home (NYSE: KBH): The BofA Securities upgrade to Buy from Neutral came with a price target cut to $53 from $56. The 52-week trading range is $38.05 to $52.48, and shares were last seen trading near $40.
StoneCo Ltd. (NASDAQ: STNE): Goldman Sachs downgraded the stock to Neutral and slashed the $73 price target to $19. Shares were trading around $14 on Thursday. The 52-week range is $13.14 to $95.12.
Tesla Inc. (NASDAQ: TSLA): Oppenheimer reiterated an Outperform rating and raised the $1,080 price target to $1,103. JPMorgan reiterated an Underweight rating and raised its price target to $325 from $295. Citigroup reiterated a Sell rating and raised its price target to $313 from $262. Wells Fargo reiterated an Equal Weight rating and raised its 860 price target to $910. Shares were trading around $858 on Thursday, and the 52-week range is $539.49 to $1,243.49.
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