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Thursday Afternoon's Top Analyst Upgrades and Downgrades: Autodesk, Check Point Software, DoorDash, Hilton, Nvidia, Upstart and More
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Markets were crushed on Thursday with the Nasdaq leading the charge lower, down nearly 3%. The Dow Jones and Nasdaq felt the sting as well, down 1.8% and 2.1%, respectively. Some are attributing this drop to renewed concerns about a conflict in the Ukraine as President Biden warned that military action could be imminent.
24/7 Wall St. is reviewing some big analyst calls seen on Thursday. 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 Alcoa, Beyond Meat, Marriot, Monster Beverage, Shopify, Toast, and many more.
Analog Devices, Inc. (NASDAQ: ADI): Morgan Stanly reiterated an Equal Weight rating and raised the price target to $196 from $194. Citigroup reiterated a Buy rating and cut the price target to $192 from $216. Truist reiterated a Buy rating and raised the price target to $208 from $204. The 52-week trading range is $142.25 to $191.95, and shares were trading near $160 apiece Thursday.
Autodesk, Inc. (NASDAQ: ADSK): Citigroup resumed coverage with a Buy rating and a $305 price target. The 52-week trading range is $222.20 to $344.39, and shares were last seen near $223.
Atlas Corp. (NYSE: ATCO): BofA Securities downgraded to an Underperform rating from Neutral with a $14.50 price target. Shares were trading near $15 on Thursday. The 52-week range is $12.35 to $16.49.
Blueprint Medicines Corp. (NASDAQ: BPMC): SVB Leerink downgraded to a Market Perform rating from Outperform with an $82 price target. The stock was trading near $69 on Thursday, and the 52-week range is $66.29 to $117.86.
Check Point Software Technologies Ltd. (NASDAQ: CHKP): BMO Capital Markets upgraded to an Outperform rating from Market Perform and raised the price target to $157 from $150. Shares traded near $132 on Thursday, and the 52-week range is $107.85 to $133.87.
Canadian National Railway Co. (NYSE: CNI): Argus upgraded to a Buy rating from Hold with a $145 price target. Shares were trading near $126. The 52-week range is $100.66 to $136.22.
DoorDash, Inc. (NYSE: DASH): RBC Capital Markets reiterated an Outperform rating and cut the price target to $142 from $175. BofA Securities reiterated a Buy rating and cut the price target to $200 from $220. JPMorgan reiterated a Neutral rating and cut the price target to $162 from $175. Shares were trading near $105 on Thursday. The 52-week range is $91.96 to $257.25.
Equinix, Inc. (NASDAQ: EQIX): TD Securities upgraded to a Buy rating from Hold and cut the price target to $850 from $900. The 52-week trading range is $586.73 to $885.26, and shares were last seen near $691.
Hilton Worldwide Holdings Inc. (NYSE: HLT): Morgan Stanley reiterated an Equal Weight rating and raised the price target to $136 from $135. Deutsche Bank reiterated a Hold rating and raised the price target to $136 from $126. The 52-week trading range is $108.50 to $160.96, and shares were trading near $153 apiece Thursday.
NVIDIA Corp. (NASDAQ: NVDA): Summit Insights downgraded to a Hold rating from Buy. Shares were trading near $245 on Thursday. The 52-week range is $115.67 to $346.47.
Upstart Holdings Inc. (NASDAQ: UPST): BofA Securities upgraded to a Buy rating from Underperform with a $255 price target. The stock was trading near $139 on Thursday, and the 52-week range is $42.51 to $401.49.
3M Co. (NYSE: MMM): Morgan Stanley downgraded to Underweight from Equal Weight with a $150 price target. The 52-week trading range is $148.48 to $208.95, and shares were last seen near $148.
With the potential for a sizable correction looming and interest rates soon headed higher, it might be a good idea for investors to Dividend Aristocrats in sectors that are defensive but look poised to do well the rest of 2022.
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