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Tuesday's Top Analyst Upgrades and Downgrades: Apple, Coinbase, Goldman Sachs, Morgan Stanley, Netflix, Roblox, Twitter and More
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The futures were mixed on Tuesday, after investors returned from the long Easter weekend to see that the song remains the same. All the major indexes closed lower on Monday, and Goldman Sachs came out with a prediction that there was currently a 35% chance for a U.S. recession over the next two years. With the Federal Reserve set to raise interest rates by 1% before the end of the second quarter, and the AAII Bull/Bear survey numbers at the lowest level since 1992, investors are clearly expecting the worst going forward.
The good news is that some top equity strategists on Wall Street feel we are close to hitting peak inflation. After last week’s dreadful consumer and producer price index readings, that would be a solid development. Oil traded higher on Monday, while natural gas exploded a stunning 7% higher. Gold closed up again and is approaching the $2,000 level.
24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.
These are the top analyst upgrades, downgrades and initiations seen on Tuesday, April 19, 2022.
Antero Resources Corp. (NYSE: AR): Goldman Sachs transferred coverage on the shares and stayed with a Buy rating and a $44 price target. The posted consensus target is $36.77. The shares closed Monday at $36.28, which was up over 3% as natural gas exploded higher.
Apple Inc. (NASDAQ: AAPL): Rosenblatt started coverage of the technology giant with a Neutral rating and a $184 target price. The consensus target is higher at $193.49. The stock was last seen on Monday trading at $165.07.
Booz Allen Hamilton Holding Corp. (NYSE: BAH): Goldman Sachs upgraded the stock from Neutral to Buy with a $102 price objective. That compares with a $95.30 consensus and Monday’s closing print of $87.01.
Caesars Entertainment Inc. (NASDAQ: CZR): BofA Securities reiterated a Buy rating on the casino and gaming giant while lowering the $110 target price to $95. The consensus target is $118.07, and Monday’s closing share price was $68.37.
Clarivate PLC (NYSE: CLVT): Goldman Sachs lowered guidance of the shares but kept a Buy rating with a $20 target price. The consensus target is $19.14. The shares closed on Monday at $95.30.
Coinbase Global Inc. (NASDAQ: COIN): Oppenheimer maintained an Outperform rating with a $314 target price. The consensus target is just $294.40. The shares were closed on Monday at $145.16.
Continental Resources Inc. (NYSE: CLR): Oil stocks have been gushing profits for months now, says Zacks, which named this exploration and production company the Bull of the Day stock. The shares most recently closed at $65.53 and have a consensus price target of $70.08, which would be a multiyear high.
Electronic Arts Inc. (NASDAQ: EA): Goldman Sachs downgraded shares of the video game giant to Neutral from Buy and dropped the $185 target price to $143. The consensus target is $163.85. The stock closed on Monday at $122.16.
EQT Corp. (NYSE: EQT): Goldman Sachs transferred coverage on the natural gas giant and maintained a Buy rating with a $48 target price. The consensus target is $38.55. The shares closed on Monday at $45.50, up over 7% as natural gas prices spiked.
Goldman Sachs Group Inc. (NYSE: GS): BofA Securities maintained a Neutral rating on the white glove investment banking giant while raising the $349 price target to $360. The consensus target is $423.96. The shares closed at $329.88 on Monday.
Guardant Health Inc. (NASDAQ: GH): Stifel reiterated a Buy rating on the stock and has a $130 target price. The consensus target is $133.64. The stock closed on Monday at $71.35.
Hillman Solutions Corp. (NASDAQ: HLMN): Stifel reiterated a Buy rating and has a $16 target price. The consensus figure is $14.71. The stock was last seen Monday at $11.05, up over 3% on the day.
Hewlett Packard Enterprise Co. (NYSE: HPE): Jefferies reiterated a Buy rating with a $20 target after meeting with the legacy technology company’s chief financial officer. The consensus price objective is $18.01. The stock closed on Monday at $15.71, a 2% gain for the day.
Intuit Inc. (NASDAQ: INTU): Oppenheimer kept an Outperform rating and has a $588 target price. The consensus target for the accounting software giant is up at $640.95. The shares closed on Monday at $469.04.
Lululemon Athletica Inc. (NASDAQ: LULU): Stifel reiterated a Buy rating on the shares, which are on the firm’s Select List of top picks. Its $500 target price is well above the $428.21 consensus target for the yoga and sporting apparel giant. The stock ended Monday’s trading session at $387.56.
LXP Industrial Trust (NYSE: LXP): BofA Securities reinstated an Underperform rating with a $14 price target. The consensus target is $15.83. The final trade Monday was reported at $13.25.
Morgan Stanley (NYSE: MS): Goldman Sachs maintained a Buy rating on the Wall Street giant and has a $106 target price. The 52-week high is $109.73, but the shares ended trading Monday at $86.48.
Netflix Inc. (NASDAQ: NFLX): Jefferies maintained a Hold rating on the streaming leader and has a $415 target price. The consensus target is up at $504.06. The shares ended Monday’s session at $337.86.
PLBY Group Inc. (NASDAQ: PLBY): Zacks selected this stock as its Bear of the Day, citing that analysts are significantly cutting their numbers despite the strong growth forecast for this year. Shares have traded as high as $63.04 in the past year but closed most recently at $10.83, which is down more than 59% year to date.
Roblox Corp. (NYSE: RBLX): Goldman Sachs downgraded the shares to Neutral from Buy and slashed the $108 target price to $50. The consensus target is $67.18. The shares were last seen on Monday at $40.85, down almost 4% for the day, and the selling continued in the premarket, down another 3%.
Tarsus Pharmaceuticals Inc. (NASDAQ: TARS): Oppenheimer reiterated an Outperform rating on the stock and has a $55 price objective. The consensus target is $53.71. The last trade on Monday was filled at $18.26.
Twitter Inc. (NYSE: TWTR) Rosenblatt started coverage with a Neutral rating and a $48 target price. The consensus target is $43.93. The stock closed on Monday at $48.45, up over 7% on the day as Elon Musk continues his efforts to purchase the company.
UnitedHealth Group Inc. (NYSE: UNH): Oppenheimer maintained an Outperform rating on the giant health care provider and has a $600 price objective. The consensus target is $541.43. The final trade for Monday was reported at $534.08.
Wells Fargo & Co. (NYSE: WFC): Baird reiterated an Outperform rating on the money center giant and has a $60 target price. The consensus target is $61.43. The shares ended trading on Monday at $47.17.
Zions Bancorp. (NASDAQ: ZION) Baird raised its Underperform rating to Neutral and has a $60 target price. The consensus target is $74. Monday’s closing share price was $63.68.
See why four top shipping stocks that have acted extremely well in the face of some turbulent trading, and that in some cases pay double-digit dividends, may be among the best bets for investors for the second quarter and the rest of 2022.
Monday’s top analyst upgrades and downgrades included Bed Bath & Beyond, Delta Air Lines, Enphase Energy, GoDaddy, Invitation Homes, Luminar Technologies, PagSeguro Digital, Qualcomm, Shopify and Verastem. Analyst calls seen later in the day were on CSX, Gap, Progressive, Peloton Interactive, Sirius XM, United Airlines and more.
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