Wednesday Afternoon's Top Analyst Upgrades and Downgrades: AMD, Electronic Arts, GM, Starbucks, Under Armour and More

Investing

Published: February 2, 2022 11:50 am

Markets continued their winning streak into February, after quite a weak showing in January. The disappointment in January was further reflected in private payroll data released Wednesday morning. However, Wednesday is a new day, and the Nasdaq was leading the charge higher with a gain more than 1% in morning trading.

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 Adobe, Alphabet, Block, Dick’s Sporting Goods, Gilead Sciences, Pinterest and many more.

Advanced Micro Devices Inc. (NASDAQ: AMD): Cowen reiterated an Outperform rating and raised the price target to $160 from $150. JPMorgan reiterated a Neutral rating and raised its $135 price target to $140. KeyBanc Capital Markets reiterated an Overweight rating and raised the target to $165 from $155. BofA Securities reiterated a Buy rating, and it raised the price target to $190 from $175. Shares were trading near $128 on Wednesday, and the 52-week range is $72.50 to $164.46.

Arrow Electronics Inc. (NYSE: ARW): Raymond James upgraded the stock to an Outperform rating from Market Perform and has a $150 price target. Shares were trading near $127 on Wednesday. The 52-week range is $96.40 to $137.95.

Clorox Co. (NYSE: CLX): Bernstein downgraded the shares from Market Perform to Underperform with a $155 price target. Shares were trading around $166 on Wednesday, and the 52-week range is $156.23 to $205.02.

Clover Health Investments Corp. (NASDAQ: CLOV): though Cowen upgraded it to Market Perform from Underperform, the firm cut the price target to $3 from $7. Canaccord Genuity initiated coverage with a Buy rating and a $6 price target. The 52-week trading range is $2.16 to $28.85, and shares were trading near $3 apiece.

Datadog Inc. (NASDAQ: DDOG): Rosenblatt’s upgrade was to Buy from Neutral, and it has a $175 price target. The stock was trading near $142 on Wednesday, and the consensus target price is $202.99.

Electronic Arts Inc. (NASDAQ: EA): Barclays reiterated an Equal Weight rating and cut the $152 price target to $127. MKM Partners reiterated a Buy rating and cut the target to $162 from $172. Wells Fargo reiterated an Equal Weight rating and cut its price target from $175 to $155. The 52-week trading range is $120.08 to $148.98, and shares were last seen trading near $131.

Etsy Inc. (NASDAQ: ETSY): UBS raised its Sell rating to Neutral and cut the price target to $180 from $215. Shares were trading around $147 on Wednesday. The 52-week range is $136.00 to $307.75.

General Motors Co. (NYSE: GM): Credit Suisse reiterated an Outperform rating and cut the price target to $75 from $78. RBC Capital Markets reiterated an Outperform rating and raised the $74 price target to $85. Citigroup reiterated a Buy rating and raised its price target to $100 from $96. Shares were trading near $54 on Wednesday. The 52-week range is $47.07 to $67.21.

Intuitive Surgical Inc. (NASDAQ: ISRG): UBS upgraded it to Buy from Neutral and raised the price target to $325 from $317. Shares were trading near $290 on Wednesday, and the 52-week range is $227.47 to $369.69.

Kodiak Sciences Inc. (NASDAQ: KOD): JPMorgan’s upgrade to Overweight from Neutral included a price target cut to $90 from $124. Shares were trading near $63 on Wednesday, and the 52-week range is $49.34 to $171.21.

Quest Diagnostics Inc. (NYSE: DGX): Jefferies downgraded it to Hold from Buy and has a $135 price target. Shares were trading around $134 on Wednesday, and the consensus target price is $164.33.

Starbucks Corp. (NASDAQ: SBUX): Goldman Sachs downgraded the shares to Neutral from Buy and cut the price target to $106 from $112. Piper Sandler reiterated a Neutral rating and cut its target price to $100 from $108. Cowen reiterated an Outperform rating and cut the $125 price target to $115. The 52-week trading range is $93.79 to $126.32, and shares traded near $96 apiece.

Under Armour Inc. (NYSE: UAA): Morgan Stanley upgraded it to Overweight from Equal Weight and raised the price target to $24 from $23. Shares were trading around $20 on Wednesday, and the 52-week range is $17.52 to $27.28.

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