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Even More Big Earnings on the Way: Analyst Upgrades and Downgrades on Alphabet, Amazon, Dow, Newmont, Spotify and More

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Markets pushed higher on Tuesday after a poor showing to start out the week. As it stands, 69 companies within the S&P 500 are reporting quarterly results this week. Such big names as American Express, Netflix and Tesla should make a splash.

So far, this earnings season has not been half bad. As of Monday, 53% of the S&P 500 companies that have reported have beaten analyst estimates on both the top and bottom lines. It is yet to be seen how the rest of the earnings season will turn out, but for now investors appear optimistic.

24/7 Wall St. is reviewing additional analyst calls seen on Tuesday. 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 Apple, Electronic Arts, Goldman Sachs, Netflix, Wells Fargo and many more.

Alphabet Inc. (NASDAQ: GOOGL): Rosenblatt initiated coverage of the stock with a Buy rating and a $4,183 price target. The stock traded near $2,564 on Tuesday. The 52-week trading range is $2,193.62 to $3,030.93.

Amazon.com Inc. (NASDAQ: AMZN): Rosenblatt started it with a Neutral rating and a $3,000 price target. The 52-week trading range is $2,671.45 to $3,773.08, and shares traded near $3,059 apiece on Tuesday.

Archer Daniels Midland Co. (NYSE: ADM): BofA Securities downgraded the shares to Neutral from Buy but raised the $80 price target to $100. The 52-week trading range is $56.91 to $97.70, and shares were trading near $95 on Tuesday.

Casa Systems Inc. (NASDAQ: CASA): Northland Capital raised its Market Perform rating to Outperform and lifted the price target to $10 from $6. The stock traded near $6 on Tuesday. The 52-week trading range is $3.68 to $9.75.

CMS Energy Corp. (NYSE: CMS): Barclays downgraded to an Equal Weight rating from Overweight and raised the price target to $76 from $70. Shares were trading near $72. The 52-week range is $57.92 to $73.64.

Dow Inc. (NYSE: DOW): Wolfe Research’s upgrade was from Underperform to Peer Perform with a $64 price target. Shares were trading near $66 on Tuesday. The 52-week range is $52.07 to $71.38.

Newmont Corp. (NYSE: NEM): Credit Suisse cut its Outperform rating to Neutral. The stock traded near $84 on Tuesday. The 52-week trading range is $52.60 to $86.37.

NXP Semiconductors N.V. (NASDAQ: NXPI): Citigroup downgraded the stock to Neutral from Buy and cut the $240 price target to $190. The stock traded near $175 on Tuesday. The 52-week trading range is $164.75 to $239.91.

Spotify Technology S.A. (NYSE: SPOT): Rosenblatt initiated coverage with a Neutral rating and a $150 price target. Shares were trading near $134 on Tuesday. The 52-week range is $118.20 to $305.60.

United States Cellular Corp. (NYSE: USM): Morgan Stanley downgraded it to Equal Weight from Overweight and has a $37 price target. The 52-week trading range is $25.44 to $39.96, and shares were trading near $29 apiece on Tuesday.


See why four top shipping stocks that have performed well in the face of some turbulent trading, and that in some cases pay double-digit dividends, may be some of the best bets for investors for the second quarter and the rest of 2022.

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