Thursday's Top Analyst Upgrades and Downgrades: AMD, Beyond Meat, Colgate, Electronic Arts, Exxon, Meta Platforms, PayPal, Starbucks and More

Investing

Published: February 3, 2022 8:54 am

Last Updated: September 8, 2023 9:12 am

The futures were lower Thursday following another positive trading day in which all three major indexes ended higher, with only the Russell 2000 closing lower. The Nasdaq initially got a huge boost, after Alphabet posted gigantic results and announced a massive 20-for-1 stock split. However, a very disappointing ADP employment change report (which showed a decline of 301,000 jobs versus an expected increase of 220,000) had the risk-off sellers back in business until the afternoon, when the markets reversed once again and turned higher. The very weak report will have all eyes on Wall Street laser-focused on the nonfarm payrolls report for January, which will be released Friday morning.

Despite the weak ADP report, one big positive for investors and the economy is that the surge of Omicron cases appears to be peaking and starting to fall. Also, the corporate stock buyback windows are starting to reopen, and that could put a supporting bid under the market. Some strategists even noted that stocks have performed reasonably well against an inflation backdrop and the prospect of continued rate hikes.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Thursday, February 3, 2022.

Advanced Micro Devices Inc. (NASDAQ: AMD): Deutsche Bank reiterated a Hold rating on the shares and lifted the target price to $140 from $120, while Rosenblatt kept a Buy rating and moved its $180 target to $200. The consensus target for the chip giant is $142.88. The closing share price on Wednesday was $122.76, after a 5% gain in the wake of the company’s outstanding earnings report.

Ameresco Inc. (NYSE: AMRC): Though BofA Securities upgraded the stock to Buy from Neutral, it also slashed the $88 target price to $61. The consensus target is $85.77. The stock closed on Wednesday at $49.28 per share.

Axalta Coating Solutions Ltd. (NYSE: AXTA): Vertical Research’s downgrade was from Buy to Hold with a $34 target price. The consensus target is $36.43. The final trade on Wednesday came in at $29.38.

Beyond Meat Inc. (NASDAQ: BYND): BMO Capital Markets began coverage with a Market Perform rating and a $68 target price. The consensus target is $72.71. The shares closed Wednesday at $64, down over 4% for the day.

Colgate-Palmolive Co. (NYSE: CL): Bernstein upgraded the consumer staple heavyweight to Market Perform from Underperform and has an $83 target price. The consensus target $86.89. The final trade on Wednesday was at $82.80 a share.

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Edwards Lifesciences Corp. (NYSE: EW): The UBS upgrade to Buy from Neutral included a target price bump to $126 from $121. The consensus target is $129.50, and Wednesday’s closing price of $112.84 was over 4% higher for the day.

Electronic Arts Inc. (NASDAQ: EA): Raymond James maintained an Outperform rating on the venerable video game giant but dropped the $185 target price to $158. Deutsche Bank reiterated its Buy rating and clipped the target price from $175 to $170. The consensus target is $168.73, and the final trade on Wednesday was posted at $137.17, almost a 6% gain on the day.

Exxon Mobil Corp. (NYSE: XOM): Argus raised the energy giant to Buy from Hold and has a $92 price target. The consensus target is just $77.92. The final share price for Wednesday was $80.62.

Fiverr International Ltd. (NYSE: FVRR): JMP Securities resumed coverage with a Market Outperform rating and a $150 target price. The consensus price objective is a whopping $186.56. The shares closed Wednesday at $85.81, down just over 4% for the day.

GATX Inc. (NASDAQ: GATX): Sidoti raised the shares from Neutral to Buy with a $130 target price. The consensus target is lower at $118.20. The stock closed on Wednesday at $104.55.

Insulet Corp. (NASDAQ: PODD): UBS’s upgrade was from Neutral to Buy with a $325 target price. The consensus target is $307.93. The final trade on Wednesday was at $253.19 per share.

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Kimberly-Clark Corp. (NYSE: KMB): Bernstein downgraded the stock to Underperform from Market Perform and has a $126 price objective. The consensus target for the popular consumer staples giant is $133.95. The shares were last seen on Wednesday trading at $135.62.

MarineMax Inc. (NYSE: HZO): Strong earnings at this yacht maker are bringing investors back to the water, says Zacks, which selected it as the Bull of the Day stock. Shares last closed at $47.84, and they have a consensus price target of $64.00.

Meta Platforms Inc. (NASDAQ: FB): JPMorgan downgraded the social media giant to Neutral and slashed the price target to $284 from $385. Loop Capital also downgraded the shares to Neutral from Buy and cut its $380 target price to $230. Raymond James lowered its Strong Buy rating to Outperform and dropped the target price to $340 from $410. The consensus target is $400.14, but that will come way down. The shares ended Wednesday’s trading at $323, but they got crushed after the company missed earnings estimates. The shares were down a stunning 23% in Thursday’s premarket.

Novocure Ltd. (NASDAQ: NVCR): Oppenheimer upgraded the stock to Outperform from Underperform and has a $98 price objective. The consensus price target is $97.67. The stock closed on Wednesday at $73.75.
Papa John’s International Inc. (NASDAQ: PZZA): Northcoast raised its rating on the consumer favorite pizza retailer from Neutral to Buy with a $147 target price. The consensus target is $145.94, and Wednesday’s final print was $124.97.

PayPal Inc. (NASDAQ: PYPL): BTIG Research downgraded the stock to Neutral from Buy, while Raymond James cut the stock to Market Perform from Outperform. Wedbush kept an Outperform rating but sliced the target price to $170 from $220, and Jefferies stays with a Neutral rating and lowered the $200 target price to $145. The shares have traded in a wide 52-week range of $152.08 to $310.16 and have a $254 consensus target, which is sure to be headed lower. The stock closed Wednesday at $132.57, down almost 25% after the company posted a horrible earnings report.

Quest Diagnostics Inc. (NYSE: DGX): Jefferies downgraded the stock to Hold from Buy and has a $135 target price. The consensus price objective is $164.33. The last trade on Wednesday hit the tape at $135.91.

Starbucks Corp. (NASDAQ: SBUX): Jefferies maintained a Buy rating on the ubiquitous coffee retailer but lowered the target price to $130 from $142. Wedbush reiterated an Outperform rating and cut its $110 target to $106. The posted consensus target is $121.03. The final trade on Wednesday came in at $97.73.

2U Inc. (NASDAQ: TWOU): Though Goldman Sachs upgraded the stock to Buy from Neutral, it reduced the target price in a big way, from $42 to $25. The consensus target is $37.30. The shares were last seen on Wednesday trading at $16.45.

Valaris Ltd. (NYSE: VAL): BTIG Research raised the stock to Neutral from Buy and has a $60 target price. The consensus target is lower at $51.33. The stock closed at $42.15 on Wednesday.

Zimmer Biomet Holdings Inc. (NYSE: ZBH): UBS downgraded the stock to Neutral from Buy and dropped the target price to $130 from $170. The consensus target is $158. The last trade on Wednesday was reported at $121.71.

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Wednesday’s early top analyst upgrades and downgrades included Adobe, Alphabet, Anaplan, Bill.com, Block, Dick’s Sporting Goods, Gilead Sciences, Invitation Homes, Pinterest, Trade Desk, Ventas, Volta and Welltower. Analyst calls seen later in the day were on Electronic Arts, GM, Starbucks, Under Armour and more.

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