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Friday Afternoon's Top Analyst Upgrades and Downgrades: Affirm, AstraZeneca, Block, CVS, Kellogg and More
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Markets continued to push lower after the latest print on inflation from the Consumer Price Index (CPI). The Nasdaq was leading the charge lower, down nearly 3% going into the close on Friday. The S&P 500 and Dow Jones were down 2% and 1.5%, respectively.
24/7 Wall St. is reviewing some big analyst calls seen on Friday. 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 Datadog, Fox, MGM, Norwegian Cruise Lines, Peloton, and many more.
Affirm Holdings, Inc. (NASDAQ: AFRM): Jefferies downgraded to an Underperform rating from Hold and cut the price target to $45 from $55. Credit Suisse reiterated a Neutral rating but cut the price target to $85 from $105. Truist reiterated a Buy rating but cut the price target to $100 from $150. Shares were trading near $46 on Friday. The 52-week range is $45.60 to $176.65.
AstraZeneca PLC (NASDAQ: AZN): DZ Bank upgraded to a Hold rating from Sell. Shares were trading near $196 on Friday, and the 52-week range is $46.48 to $64.21.
Block Inc. (NYSE: SQ): BofA Securities upgraded to a Buy rating from Neutral and cut the price target to $185 from $221. Citigroup resumed coverage with a Buy rating and cut the price target to $220 from $320. Shares were trading near $108 on Friday. The 52-week range is $99.50 to $289.23.
CVS Health Corp. (NYSE: CVS): Raymond James downgraded to an Outperform rating from Strong Buy. Shares were trading around $104 on Friday. The 52-week range is $68.02 to $111.25.
CyberArk Software Ltd. (NASDAQ: CYBR): Needham upgraded to a Buy rating from Hold with a $195 price target. Baird reiterated an Outperform rating and cut the price target to $200 from $225. Barclays reiterated an Overweight rating and raised the price target to $215 from $190. Shares were trading around $155 on Friday, and the 52-week range is $113.34 to $201.68.
Imperial Oil Ltd. (NYSE: IMO): Goldman Sachs upgraded to a Buy rating from Neutral. The 52-week trading range is $19.85 to $45.27, and shares were last seen near $45.
Kellogg Co. (NYSE: K): JPMorgan downgraded to an Underweight rating from Neutral and cut the price target to $57 from $64. Shares were trading near $63 on Friday. The 52-week range is $56.70 to $68.60.
Murphy Oil Corp. (NYSE: MUR): Mizuho upgraded to a Buy rating from Neutral and raised the price target to $42 from $33. The stock was trading near $34 on Friday, and the consensus target price is $36.25.
ProQR Therapeutics N.V. (NASDAQ: PRQR): Raymond James downgraded to a Market Perform from Strong Buy. Stifel downgraded to a Hold rating from Buy and cut the price target to $3 from $20. The 52-week trading range is $1.33 to $9.46, and shares were trading near $1.40 apiece.
Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE): JPMorgan upgraded to an Overweight rating from Neutral with a $132 price target. Shares were trading near $73 on Friday. The 52-week range is $62.37 to $155.76.
Texas Instruments Inc. (NASDAQ: TXN): Edward Jones downgraded to a Hold rating from Buy. Shares were trading near $164 on Friday, and the 52-week range is $161.67 to $202.26.
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