Friday Afternoon’s Analyst Upgrades or Downgrades: Akamai, Discover Financial, Micron, Paramount and More

Investing

Published: July 22, 2022 3:33 pm

Markets were getting crushed into the close on Friday with the Nasdaq leading the charge lower, down nearly 2% on the day. The S&P 500 was down roughly 1% while the Dow Jones was down closer to 0.5%. Despite Friday’s push lower, markets actually ended the week on a positive note—signaling yet again another bear market rally.

24/7 Wall St. is reviewing additional 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 Alcoa, Blue Apron, Nordstrom, Tesla and more.

Akamai Technologies, Inc. (NASDAQ: AKAM): Citigroup downgraded to a Neutral rating from Buy and cut the price target to $105 from $118. The shares traded near $94 on Friday. The 52-week trading range is $85.90 to $123.25 a share.

AT&T Inc. (NYSE: T): Barclays downgraded to an Equal Weight rating from Overweight and cut the price target to $20 from $22. The stock traded near $18 on Friday. The 52-week trading range is $16.63 to $21.56.

Discover Financial Services (NYSE: DFS): Citigroup downgraded to a Neutral rating from Buy and cut the price target to $115 from $140. The 52-week trading range is $88.02 to $135.69. The stock traded near $100 on Friday.

Global Payments Inc. (NYSE: GPN): Credit Suisse downgraded to a Neutral rating from Outperform and cut the price target to $145 from $180. The 52-week trading range is $105.52 to $195.38, and shares were trading near $119 on Friday.

Micron Technology, Inc. (NASDAQ: MU): Morgan Stanley downgraded to an Underweight rating from Equal Weight with a $56 price target. The stock traded near $61 on Friday, in a 52-week range of $51.40 to $98.45.

Paramount Global (NASDAQ: PARA): MoffettNathanson downgraded to a Sell rating from Neutral and cut the price target to $18 from $30. The 52-week trading range is $23.68 to $42.45, and shares traded near $25 apiece on Friday.

Palantir Technologies Inc. (NYSE: PLTR): Monness Crespi & Hardt downgraded to a Neutral rating from Buy. The 52-week trading range is $6.44 to $29.29, and shares traded near $10 apiece on Friday.

SVB Financial Group (NASDAQ: SIVB): Keefe Bruyette downgraded to a Market Perform rating from Outperform and cut the price target to $450 from $600. The 52-week range is $355.42 to $763.22. Shares traded near $361 apiece on Friday.

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