Markets edged lower to start out the week after a wave of Chinese economic data came in showing a weaker-than-expected recovery for the People’s Republic. The Nasdaq was leading the charge lower with a loss of roughly 50 basis points.

The most recent round of lockdowns in China exacerbated its economic recovery, as seen in a couple different numbers the country reported. Retail sales for China dropped by 11.1% in April, on a year-over-year basis, which in turn makes it the worst monthly decline since March 2020, at the height of the pandemic. Also, industrial production fell by 2.9% for the month as well.

Much of this can be attributed to recent COVID-19-related lockdowns within the People’s Republic as China is facing another wave of the virus. While most of the world seemingly has gone back to normal, China is still taking a hard stance in how it is fighting the coronavirus.

Shanghai saw fairly serious lockdowns last month, and as it is perhaps the largest port out of the mainland this has caused supply chain problems around the world. Roughly 30% of China’s exports go through the port of Shanghai, so when this faucet is turned off many are going thirsty.

The pain may be nearing an end for China on this front, however. J.P. Morgan recently issued a series of upgrades on Chinese companies, and while these calls are not entirely bullish, it does signal a rising sentiment for the People’s Republic.

24/7 Wall St. is reviewing additional analyst calls seen on Monday. 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 Alibaba, Caterpillar, Coinbase, DraftKings, JPMorgan and more.

Baidu Inc. (NASDAQ: BIDU): J.P. Morgan upgraded the stock to Neutral from Underweight and raised the $90 price target to $125. The 52-week trading range is $101.62 to $209.17, and shares traded near $115 apiece on Friday.

Citizens Financial Group Inc. (NYSE: CFG): UBS upgraded the shares to Buy from Neutral and raised the $48 price target to $54. The stock traded near $39 on Monday. The 52-week trading range is $36.83 to $57.00.

Hyatt Hotels Corp. (NYSE: H): Berenberg’s upgrade to Hold from Sell included a price target hike to $85 from $80. The 52-week trading range is $67.70 to $108.10, and shares traded near $83 apiece on Monday.

JD.com Inc. (NASDAQ: JD): J.P. Morgan upgraded it to Neutral from Underweight and raised the $40 price target to $58. The 52-week trading range is $41.56 to $92.69, and shares were trading near $51 on Monday.

Marathon Petroleum Corp. (NYSE: MPC): Goldman Sachs lowered its Buy rating to Neutral but raised the $90 price target to $102. The stock traded near $97 on Monday, in a 52-week range of $50.19 to $96.93.

Netflix Inc. (NASDAQ: NFLX): Wedbush’s upgrade was from Neutral to Outperform with a $280 price target. The stock traded near $192 on Monday. The 52-week trading range is $162.71 to $700.99.

Nielsen Holdings PLC (NYSE: NLSN): BMO Capital Markets downgraded the stock to Market Perform from Outperform, and it cut the price target to $28 from $34. The 52-week trading range is $16.02 to $28.21, and shares were trading near $25 on Monday.

Pinduoduo Inc. (NASDAQ: PDD): J.P. Morgan upgrade the shares to Overweight from Underweight and raised the $27price target to $55. Shares were trading near $37, in a 52-week range is $23.21 to $143.11.

Rocket Companies Inc. (NYSE: RKT): The Keefe Bruyette upgrade to Market Perform from Underperform included a price target cut to $7 from $10. The 52-week trading range is $6.91 to $22.68, and shares traded near $8 apiece on Monday.

Shake Shack Inc. (NYSE: SHAK): Northcoast upgraded it to Buy from Neutral and has a $70 price target. The stock traded near $46 on Monday, in a 52-week range of $41.55 to $111.49.

Trade Desk Inc. (NASDAQ: TTD): As Stifel upgraded it to Buy from Hold, it also raised the price target to $80 from $50. The 52-week trading range is $39.39 to $114.09, and shares were trading near $52 on Monday.

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