Investing

Tuesday's Bounce Back: Analysts Upgrade or Downgrade CSX, Keurig Dr Pepper and More

Chris Lange

Published: September 27, 2022 11:20 am

Markets bounced back on Tuesday, after the S&P 500 reached a new closing low for 2022. The Nasdaq led the charge higher on the day, up 1.6% on the day. The Dow Jones industrials and S&P 500 rose 0.9% and 1.1%, respectively.

Despite the push higher on Tuesday, there could be even more pain for the markets, as Federal Reserve Chair Jerome Powell predicted last week when he raised interest rates in response to historic levels of inflation. As interest rates continue to increase, market losses are expected to continue.

Here, 24/7 Wall St. is reviewing additional analyst calls seen on Tuesday. 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 Costco, Exxon, FedEx, Lucid, Micron, Salesforce and more.

Arcos Dorados Holdings Inc. (NYSE: ARCO): Barclays initiated coverage with an Overweight rating and $9 price target. Shares were last seen trading near $7. The 52-week range is $4.33 to $8.44.

CS Disco Inc. (NYSE: LAW): Loop Capital downgraded the stock to Hold from Buy and cut the $32 price target to $10. Shares traded near $9 on Tuesday, in a 52-week range of $9.27 to $58.52.

CSX Corp. (NASDAQ: CSX): UBS’s downgrade to Neutral from Buy included a price target cut to $31 from $38. The 52-week trading range is $27.21 to $38.63. Shares changed hands near $27 apiece on Tuesday.

FirstService Corp. (NASDAQ: FSV): Scotiabank resumed coverage with a Sector Outperform rating, and it cut the $148 price target to $135. The shares traded near $118 on Tuesday. The 52-week range is $112.44 to $202.78.

Keurig Dr Pepper Inc. (NASDAQ: KDP): Goldman Sachs lowered its Buy rating to Neutral and cut the $39 price target to $37. Shares have traded as high as $41.31 in the past year but were near $36 on Tuesday, which is actually up about 1% year to date.

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Norfolk Southern Corp. (NYSE: NSC): UBS downgraded the shares to Neutral from Buy. The 52-week trading range is $212.69 to $299.20. The share price was near $214 on Tuesday.

PepsiCo Inc. (NASDAQ: PEP): Deutsche Bank reiterated a Hold rating but raised the $179 price target to $181. The stock was last seen trading near $168, in a 52-week range of $149.48 to $181.07.

Prologis Inc. (NYSE: PLD): Though Evercore ISI boosted its In Line rating to Outperform, it also cut the price target to $127 from $133. Shares traded near $104 on Tuesday, in a 52-week range of $102.80 to $174.54.