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.

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