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Wednesday Afternoon's Top Analyst Upgrades and Downgrades: General Motors, Lyft, Tenet Healthcare, Vale and More
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Markets pushed higher on Wednesday with the help of another round of solid earnings and U.S. Treasury yields retreating. The Nasdaq was leading the charge higher, yet again, out of the major averages—all with a strong push from the tech sector.
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 AMD, Clorox, Penn National Gaming, Teladoc, Transocean, and many more.
Acadia Pharmaceuticals Inc. (NASDAQ: ACAD): H.C. Wainwright upgraded the stock to a Buy rating from Neutral and has a $36 price target. Shares were trading near $26 on Wednesday. The 52-week range is $15.68 to $52.80.
Argo Group International Holdings, Ltd. (NYSE: ARGO): Raymond James downgraded it to Outperform from Strong Buy and cut the price target to $60 from $70. Compass Point’s downgrade was from Buy to Neutral with a $47.50 target. Shares were trading near $48 on Wednesday, and the 52-week range is $41.66 to $61.30.
Enphase Energy Inc. (NASDAQ: ENPH): Craig Hallum raised its Hold rating to Buy. Shares were trading around $167 on Wednesday. The 52-week range is $108.88 to $282.46.
General Motors Co. (NYSE: GM): Nomura’s downgrade to Neutral from Buy included a price target cut to $56 from $66. Shares were trading around $51 on Wednesday, and the 52-week range is $47.07 to $67.21.
Incyte Corp. (NASDAQ: INCY): SVB Leerink downgraded the shares to Underperform from Market Perform and lowered the $60 price target to $56. The 52-week trading range is $61.91 to $88.26, and shares were last seen near $69.
Lyft Inc. (NASDAQ: LYFT): BTIG Research reiterated a Buy rating and raised the price target to $75 from $65. Shares were trading near $39 on Wednesday. The 52-week range is $33.94 to $68.28.
MP Materials Corp. (NYSE: MP): Benchmark upgraded it to Buy from Hold and has a $47 price target. The stock was trading near $40 on Wednesday, and the consensus target price is $48.19.
Newmont Corp. (NYSE: NEM): Canaccord Genuity downgraded the stock from Buy to Hold with a $65 price target. The 52-week trading range is $52.60 to $75.31, and shares were trading near $63 apiece.
Tenet Healthcare Corp. (NYSE: THC): SVB Leerink’s upgrade to Outperform from Market Perform included a price target hike to $100 from $88. Truist upgraded it to Buy from Hold and has a $90 price target. Shares were trading near $80 on Wednesday. The 52-week range is $48.20 to $83.69.
Vale S.A. (NYSE: VALE): Exane BNP Paribas upgraded the stock to Outperform from Neutral and has a $20.50. Shares were trading near $17 on Wednesday. The 52-week range is $11.16 to $23.18.
Veritone Inc. (NASDAQ: VERI): BofA Securities started coverage with a Buy rating and a $22 price target. Shares were trading near $18 on Wednesday, and the 52-week range is $13.06 to $50.34.
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