Investing
A Recovery in the Works? Analysts Upgrade or Downgrade Lennar, RealReal, Six Flags and More
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Markets pushed higher into the weekend, with each of the major indexes up, led by the Nasdaq’s 1% gain. This comes after a week of fairly positive economic data on inflation and jobless claims, which to a degree signals a broader economic recovery.
The U.S. Import and Export Price Index, released Friday morning, showed the first decline in import prices in the past seven months. July’s import prices fell by 1.4%, after rising by 0.3% in June. The latest reading was the largest monthly drop since April 2020.
Overall, the economics seemingly are shaping up for a recovery, but it remains to be seen how quickly this will happen.
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 Chevron, Disney, Fisker, Wendy’s and more.
Ciena Corp. (NYSE: CIEN): Morgan Stanley upgraded the stock to Overweight from Equal Weight and raised its $56 price target to $65. The stock traded near $54 on Friday, in a 52-week range of $41.63 to $78.28.
Lennar Corp. (NYSE: LEN): Wedbush downgraded the shares to Neutral from Outperform. The stock traded at around $87 on Friday. The 52-week range is $62.54 to $117.54 a share.
Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX): Piper Sandler initiated coverage with an Overweight rating and a $10 price target. Shares have traded as high as $6.33 in the past year but were near $3 on Friday, which is down 30% year to date.
Mister Car Wash Inc. (NYSE: MCW): Morgan Stanley’s downgrade to Equal Weight from Overweight included a price target cut to $11 from $16. The 52-week trading range is $10.16 to $21.50, and shares traded near $10 apiece on Friday.
PagerDuty Inc. (NYSE: PD): Monness Crespi & Hardt cut its Buy rating to Neutral. The 52-week trading range is $21.72 to $50.33. Shares changed hands near $28 apiece on Friday.
RealReal Inc. (NASDAQ: REAL): When Cowen downgraded it to Market Perform from Outperform, the analyst slashed the $14 price target to $3. The shares traded near $3 on Friday. The 52-week trading range is $2.11 to $17.09.
ResMed Inc. (NYSE: RMD): Citigroup’s downgrade was to Neutral from Buy. RBC also downgraded the stock, to Sector Perform from Outperform, though it also raised its $246 price target to $252. The stock traded near $238 on Friday, in a 52-week range of $189.40 to $301.34.
Six Flags Entertainment Corp. (NYSE: SIX): KeyBanc Capital Markets downgraded the shares to Sector Weight from Overweight. The 52-week trading range is $19.80 to $47.24, and the share price was near $22 on Friday.
Utz Brands Inc. (NYSE: UTZ): Goldman Sachs downgraded to a Neutral rating from Buy and raised the price target to $21 from $16. The 52-week trading range is $12.06 to $20.41, and shares were trading near $17 on Friday.
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