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Monday Afternoon's Top Analyst Upgrades and Downgrades: Chevron, Netflix, Robinhood, Tesla and More
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Markets started the week somewhat mixed, as investors are looking forward to loads of economic data and corporate earnings. January also marked a very rough month for the major indexes, as the Nasdaq has firmly entered correction territory, down 12% since the beginning of the month.
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 AutoZone, Corning, General Dynamics, Tapestry, Target and many more.
Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT): Raymond James upgraded the stock to a Market Perform rating from Underperform. Shares were trading around $24 on Monday, and the 52-week range is $20.54 to $89.18.
Beyond Meat Inc. (NASDAQ: BYND): The Barclays upgrade to Overweight from Underweight included a price target hike to $80 from $70. Shares were trading at around $61 on Monday. The 52-week range is $53.10 to $183.75.
Chevron Corp. (NYSE: CVX): Truist downgraded the shares to Hold from Buy. Goldman Sachs reiterated a Neutral rating and lowered its price target to $142 from $146. BofA Securities reiterated a Buy rating and raised the $150 target to $154. Credit Suisse reiterated an Outperform rating and raised its target to $145 from $140. The 52-week trading range is $84.57 to $137.00, and shares were trading near $130 apiece.
Deutsche Bank AG (NYSE: DB): Kepler upgraded it to Buy rating Hold. Shares were trading around $14 on Monday, and the 52-week range is $10.23 to $15.34.
Equifax Inc. (NYSE: EFX): RBC Capital Markets raised its Sector Perform rating to Outperform with a $300 price target. The stock was trading around $238 on Monday, and the consensus target price is $300.53.
EOG Resources Inc. (NYSE: EOG): Truist upgraded it to Buy from Hold and raised the price target to $135 from $111. Shares were trading around $109 on Monday, and the consensus target price is $114.15.
Kellogg Co. (NYSE: K): When BMO Capital Markets downgraded the stock to Market Perform from Outperform it also lowered the $75 price target to $70. The 52-week trading range is $56.61 to $68.60, and shares were last seen trading near $63.
Microchip Technology Inc. (NASDAQ: MCHP): UBS upgraded the shares to Buy from Neutral. Shares were trading around $75 on Monday. The 52-week range is $64.53 to $90.00.
Netflix Inc. (NASDAQ: NFLX): Edward Jones upgraded to a Buy rating from Hold. Citigroup upgraded to a Buy rating form Neutral and cut its price target to $450 from $595. Shares were trading around $414 on Monday, and the 52-week range is $351.46 to $700.99.
ResMed Inc. (NYSE: RMD): The Goldman Sachs upgrade was to Buy from Neutral. Citigroup also upgraded the shares to Buy from Neutral. Shares were trading at around $222 on Monday. The 52-week range is $179.37 to $301.34.
Robinhood Markets Inc. (NASDAQ: HOOD): Citigroup reiterated a Buy rating but cut the price target to $24 from $51. Shares were trading around $13 on Monday, and the 52-week range is $9.94 to $85.00.
Spotify Technology S.A. (NYSE: SPOT): While Citigroup raised its Neutral rating to Buy, the firm also cut the price target from $275 to $240. The 52-week trading range is $164.41 to $387.44, and shares traded near $189 apiece.
StoneCo Ltd. (NASDAQ: STNE): HSBC Securities downgraded the stock to Hold from Buy and slashed the $60 price target to $16. Shares were trading around $15 on Monday, and the 52-week range is $13.14 to $95.12.
Tesla Inc. (NASDAQ: TSLA): Credit Suisse upgraded the carmaker’s shares to Outperform from Neutral and has a $1,025 price target. The stock was trading around $894 on Monday, and the consensus target price is $983.84.
Five BofA Securities stock picks pay the highest secure dividends and are likely to feel less pressure from rising interest rates, making them good plays for growth and income investors who are more conservative.
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