Friday Afternoon's Top Analyst Upgrades and Downgrades: Best Buy, Marvell Technology, Sea Ltd., Six Flags and More

Investing

Published: March 4, 2022 11:50 am

Markets edged lower to close out the week. Also, the February employment report showed stronger-than-expected jobs numbers. U.S. employers added 678,000 jobs as Omicron-related cases continue to fall. The unemployment rate improved, as well, to 3.8% which is the lowest since February 2020, prior to the pandemic.

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 Chevron, Citigroup, Costco, Intel and many more.

AeroVironment Inc. (NASDAQ: AVAV): Canaccord Genuity upgraded the stock to Buy from Hold and raised the price target to $85 from $64. The 52-week trading range is $52.03 to $128.98, and shares were trading near $74 apiece Friday.

Best Buy Co. Inc. (NYSE: BBY): Raymond James downgraded it to Market Perform from Outperform. Telsey Advisory reiterated an Outperform rating and raised its $125 price target to $130. The 52-week trading range is $85.58 to $141.97, and shares were trading near $107 apiece on Friday.

Bright Health Group Inc. (NYSE: BHG): The RBC Capital Markets downgrade to Sector Perform from Outperform included a price target cut to $3 from $9. Shares were trading near $2 on Friday. The 52-week range is $2.04 to $17.93.

Cambium Networks Corp. (NASDAQ: CMBM): Jefferies downgraded the shares to Hold from Buy and cut the $38 price target to $25. Shares were trading near $25 on Friday. The 52-week range is $18.95 to $66.40.

Equitrans Midstream Corp. (NYSE: ETRN): Goldman Sachs raised its Neutral rating to Buy with a $9 price target. Shares were trading near $7 on Friday. The 52-week range is $5.87 to $11.52.

Knight-Swift Transportation Holdings Inc. (NYSE: KNX): Susquehanna upgraded the stock to Positive from Neutral and raised the price target to $69 from $62. Shares were trading near $55 on Friday. The 52-week range is $43.53 to $62.29.

Logitech International S.A. (NASDAQ: LOGI): Loop Capital upgraded it to Buy from Hold and raised the price target to $110 from $80. The stock was trading near $76 on Friday, and the 52-week range is $69.92 to $140.17.

Marvell Technology Inc. (NASDAQ: MRVL): The Summit Insights downgrade was to Hold from Buy. Needham reiterated a Buy rating and cut the price target to $105 from $115. Shares were trading near $67. The 52-week range is $37.92 to $93.85.

Sea Ltd. (NYSE: SE): J.P. Morgan downgraded the shares to Neutral from Overweight and cut the $250 price target all the way to $105. The 52-week trading range is $103.00 to $372.70, and shares were trading near $104 apiece Friday.

Six Flags Entertainment Corp. (NYSE: SIX): Deutsche Bank’s upgrade to Buy from Hold came with a price target hike to $57 from $45. The stock was trading around $42 on Friday, and the 52-week range is $35.75 to $51.75.

24/7 Wall St.
5 Stocks That Wall Street Hates This Week

Six Goldman Sachs stock picks offer a blend of high dividend yield and strong forecast dividend growth, making them ideal for income and growth investors worried about inflation and the very volatile stock market.

See how NFTs may be making climate change worse and how much short sellers have been rewarded for betting against Russian stocks.

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.