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Tuesday's Top Analyst Upgrades and Downgrades: AMD, Block, Bumble, Disney, FirstEnergy, Nio, Petco Health, Roblox, SoFi and More
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The futures traded higher Tuesday, after a back-and-forth Monday that could not follow through on the massive rally that saw the first 90% upside volume day in nearly two years last Friday. The three major indexes closed mixed on Monday, with only the Dow Jones industrials clawing out a small gain, as a cloud of negative chatter was strewn across the financial and news airwaves this past weekend. Not the least of which was former Goldman Sachs CEO Lloyd Blankfein suggesting, and likely correctly, that there was a “very very high risk of recession.”
Buyers returned again to the Treasury market, with yields down across the curve, especially on the five-year and 10-year notes, which once again seemed to suggest that even in the face of known interest rate hikes that are coming, many investors are running to safe-haven securities.
One very worrisome trend for beleaguered U.S. consumers is the continued upward march of oil, as both Brent and West Texas Intermediate crude surged higher on Monday, with both surprisingly trading in price tandem and closing over the $114 per barrel mark. Natural gas also closed higher, while gold eked out a small gain. Bitcoin closed down 4% to start the week just above the $30,000 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, May 17, 2022.
Advanced Micro Devices Inc. (NASDAQ: AMD): Piper Sandler upgraded the semiconductor giant to Overweight from Neutral and raised the $98 target price to $140. The consensus target is $136.80. The shares closed trading on Monday at $94.24. The stock was up almost 4% in premarket trading.
Anheuser-Busch InBev S.A./N.V. (NYSE: BUD): Earnings estimates for this stock keep dipping lower, points out Zacks, which named it as the Bear of the Day. Shares have traded as high as $79.67 in the past year but closed most recently at $56.67, which is down more than 6% year to date.
Atmos Energy Inc. (NYSE: ATO): Goldman Sachs downgraded the shares to Neutral from Buy but kept a $113 target price. The consensus target is $125.63. The last trade on Monday came in at $113.16.
Block Inc. (NYSE: SQ): Oppenheimer reiterated an Outperform rating with a $150 price target, despite the current crypto crash affecting the industry. The consensus target is $157.48. The stock closed over 5% on Monday at $79.70.
Bumble Inc. (NASDAQ: BMBL): Goldman Sachs reiterated a Buy rating but lowered the $42 price target to $38. The consensus target is $29.67. The stock closed on Monday at $25.81.
Cigna Corp. (NYSE: CI): J.P. Morgan raised its Neutral rating on the health care giant to Overweight. Its target price rose from $248 to $304, well above the $282.79 consensus target. The stock closed almost 3% higher on Monday at $266.71.
CME Group Inc. (NASDAQ: CME): Argus downgraded the shares to Hold from Buy and has a $230 target. The consensus target is $253.56. The stock closed at $196.17 on Monday.
Cross Country Healthcare Inc. (NASDAQ: CCRN): This health care staffing company is the Bull of the Day at Zacks, which cited its low single-digit forward PE and outstanding growth. Shares last closed at $16.18, and the $36.83 consensus price target would be a 52-week high.
DigitalOcean Holdings Inc. (NYSE: DOCN): Goldman Sachs started coverage with a Buy rating and a $49 price objective. The consensus target is up at $58.60. The stock closed 3% lower on Monday at $36.66.
Duke Realty Corp. (NYSE: DRE): The BMO Capital Markets upgrade to Outperform from Market Perform included a target price trim to $65 from $68. The stock has traded as high as $66.22 in the past year but ended Monday at $53.45 a share.
EMCOR Group Inc. (NYSE: EME): Sidoti raised its Neutral rating to Buy with a $137 target price. The consensus target is $142. The last trade for Monday was posted at $102.19.
EPAM Systems Inc. (NYSE: EPAM): Though Susquehanna upgraded the shares to Buy from Neutral, it also slashed the $490 price objective to $370. The consensus target is $473.92. The stock closed Monday at $311.80.
FirstEnergy Corp. (NYSE: FE): The BofA Securities downgrade to Neutral from Buy included a target price objective cut to $44 from $52. The consensus target is $48.40. The last trade Monday was filled at $41.76.
Fiverr International Ltd. (NYSE: FVRR): Goldman Sachs kept a Neutral rating, and its $44 price target compares with a $45.25 consensus estimate and Monday’s close at $37.05, which was down close to 4% for the day. The company slashed forecasts last week, despite reporting earnings and revenues that beat expectations.
HF Sinclair Corp. (NASDAQ: DINO): Goldman Sachs upgraded the stock to Buy from Neutral and raised the $46 price objective to $56. The $49.08 consensus target is now closer to Monday’s final print of $47.10.
24/7 Wall St.Nio Inc. (NYSE: NIO): BofA Securities upgraded shares of the electric vehicle maker to Buy from Neutral and has a $26 target price. The consensus target is $39.88. The shares closed at $14.55 on Monday.
Novocure Ltd. (NASDAQ: NVCR): H.C. Wainwright started coverage with a Buy rating and a $115 target price. The consensus target is $101. The shares were last seen on Monday at $66.70.
Palo Alto Networks Inc. (NASDAQ: PANW): Stifel reiterated a Buy rating and $600 price target in front of this week’s earnings report. The consensus target is up at $648.34. The stock closed almost 5% lower on Monday at 468.18.
Petco Health and Wellness Co. Inc. (NASDAQ: WOOF): Morgan Stanley initiated coverage with an Equal Weight rating and a $21 target price. The consensus target is $25.18. The shares closed on Monday at $18.36.
RH (NYSE: RH): Morgan Stanley initiated coverage with an Equal Weight rating and has a $400 target price. The consensus is up at $525.29. Monday’s closing share price was $279.64.
RingCentral Inc. (NYSE: RNG): Baird’s downgrade to Neutral from Outperform included a price objective reduction to $80 from $95. The consensus target is $135.72 for now. The closed almost 10% lower on Monday at $62.64 on no related news we could source.
Roblox Inc. (NASDAQ: RBLX): Goldman Sachs maintained a Neutral rating with a $39 target price. The consensus target is $45.89. The stock closed on Monday at $32.14.
Rocket Companies Inc. (NYSE: RKT): Though Keefe Bruyette raised its Underperform rating to Market Perform, it also lowered the $10 target price to $7. The consensus target for the mortgage and home lending giant is $9.65. The shares closed on Monday at $8.29.
Signify Health Inc. (NASDAQ: SGFY): Baird upgraded the stock to Outperform from Neutral but sliced the $19 target price to $16. The consensus target is $22.78. The final trade on Monday was reported at $12.81.
SoFi Technologies Inc. (NASDAQ: SOFI): Piper Sandler upgraded the stock to Overweight from Neutral. It also trimmed the $12 target price to $10. The consensus target is $11.42. The shares ended Monday at $6.91.
Walt Disney Co. (NYSE: DIS): Goldman Sachs maintained a Buy rating on the House of Mouse, but the analyst cut the $205 target price on the shares to $148. The consensus target was last seen near $159. The shares closed at $105.22 on Monday.
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24/7 Wall St.Monday’s early top analyst upgrades and downgrades included Alibaba, Analog Devices, Caterpillar, Cloudflare, Coinbase Global, DraftKings, JPMorgan Chase, Marriott International, Rivian Automotive, Toast, Twilio and Walmart. Analyst calls seen later in the day were on Baidu, Citizens Financial, JD.com, Marathon Petroleum, Netflix, Nielsen, Pinduoduo, Rocket Companies, Trade Desk and more.
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