Investing

Friday’s Top Analyst Upgrades and Downgrades: Analog Devices, Autodesk, Beyond Meat, CVS Health, Dick’s Sporting Goods, Medtronic, Riot Blockchain, Tesla, Yum! Brands and More

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The futures are trading mixed Friday as the holiday shortened end of the week will see an early close today at 1P EST. The markets closed higher on Wednesday in front of the Thanksgiving Day celebration, and the Dow Jones Industrials ended the day at the highest level since April. Analysts cited seasonality and hopes for a soft economic landing as the tailwind for  stocks. As is customary at holiday time, volume was very low Wednesday as traders and investors left early to enjoy time with family and friends to celebrate the annual day of turkey and football. Today of course, being black Friday will ignite a tsunami of bargains at retail stores (many of which have already been released), and Cyber Monday to start off next week will have shoppers moving online for more bargains. Retail sales are expected to grow 15% on Black Friday.

Treasury yields were lower across the curve once again Wednesday as the buyers continued to load the boat on Treasury securities in front of the Federal Reserve meeting in December. Most on Wall Street expect a 50-basis-point move at the final meeting of 2022, and the “lower for longer” mantra is likely to remain at the forefront of Chairman Powells talking points.

Brent Crude and West Texas Intermediate closed lower, both down over 4% on Wednesday as the talk for price caps on Russian oil circulated in the $65 to $70 range, which oddly is higher than the current pricing for Russian oil. OPEC once again denied any plans on raising oil production and remained committed to the 2 million barrel per day cut which is designated for all of 2023. Natural gas soared higher Wednesday closing up over 7% at $7.29. Gold and Bitcoin both finished higher as well.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new 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 Friday November 25, 2022.

Ameriprise Financial, Inc. (NYSE: AMP) Goldman Sachs raised their target price on the Neutral rated stock to $330 from $290. The consensus target across Wall Street is $342. The stock was last seen Wednesday at $332.60.

Analog Devices, Inc. (NYSE: ADI) Goldman Sachs reiterated a Buy rating on the shares and raised the target price to $186 from $173. The consensus target for the company on Wall Street is posted at $190.37. The stock closed Wednesday at $169.20.

Arvinas, Inc. (NASDAQ: ARVN) Goldman Sachs reiterated a Buy rating on the company with an $81 target price. The consensus for the stock is posted at $89.10. The shares closed Wednesday at $39.56 down close to 3%.

Autodesk, Inc. (NASDAQ: ADSK) Mizuho downgraded the shares to Neutral from Buy and slashed the target price to $210 from $260. The Wall Street consensus target is $251.72 for now. The stock closed Wednesday at $197.07 down almost 6% after posting inline results but giving a very weak forward outlook.

Baidu, Inc. (NASDAQ: BIDU) BofA Securities reiterated a Buy rating and has a stunning $224 target price. The consensus is lower but still a massive $172.58. The final trade Wednesday was filled at $97.

Beyond Meat, Inc. (NASDAQ: BYND) Goldman Sachs reiterated a Sell rating on the fake meat stock and cut their target price to $5 from $14. The consensus is $14.71. The stock closed trading Wednesday at $12.83.

Burlington Stores. Inc. (NASDAQ: BURL) BofA Securities raised the price target on the Buy rated shares to $215 from $195. That is versus the $190.89 consensus target and Wednesday’s closing print of $195.70, which was up over 3%.

Cigna Corporation (NYSE: CI) Morgan Stanley resumed coverage with an Overweight rating and boosted their target price to $347 from $318. The consensus is posted at $352.45. The last trade on Wednesday was filled at $319.84.

CVS Health Corporation (NYSE: CVS) Morgan Stanley resumed coverage with an Overweight rating while trimming their target price to $119 from $124. The consensus for the stock is $118.03. The final trade Wednesday came in at $100.06.

Deere & Company (NYSE: DE) Goldman Sachs raised their target price on the legacy farm & heavy construction machinery giant to $462 from $420 while reiterating a Buy rating on the shares. The consensus target is lower at $426.48. The stock closed Wednesday at $437.52 up over 5% after posting very solid results for the quarter.

DICK’S Sporting Goods, Inc. (NYSE: DKS) Goldman Sachs reiterated a Buy rating on the sports and outdoors retailing giant and raised their target price to $129 from $125. The consensus is $131.53. The stock was last seen Wednesday at $118.98.

Franklin Resources, Inc. (NYSE: BEN) Goldman Sachs raised the target price on the Sell rated stock to $23 from $20. The consensus is posted at $21.82. The last trade on Wednesday was reported at $26.55.

Jack in the Box, Inc. (NASDAQ: JACK) Oppenheimer reiterated an Outperform rating on the fast-food favorite while lowering their target price to $92 from $107. The consensus is set at $89.17. The stock closed Wednesday at $71.95.

Lulu’s Fashion Lounge Holdings, Inc. (NASDAQ: LVLU) Cowen downgraded the stock to Market Perform from Outperform while cutting their target price to $5.50 from $8. The consensus is $8.88. The stock closed Wednesday at $4.09 down almost 6% after the downgrade.

Medtronic plc (NYSE: MDT) Oppenheimer downgraded the shares to Neutral from Buy and cut their target price on the medical devices giant to $85 from $106. The consensus target is set at $99.97. The final trade Wednesday came in at $79.02.

Moody’s Corporation (NYSE: MCO) Oppenheimer reiterated an Outperform rating and has a $310 target price. The consensus for the stock is $280.88. The closing print on Wednesday was recorded at $297.96.

Nasdaq Inc. (NASDAQ: NDAQ) Goldman Sachs raised the target price on the stock to $55 from $50 while keeping a Sell rating on the shares. The consensus target is set higher at $66.91. The last trade Thursday was filled at $67.13.

NeoGames S.A. (NASDAQ: NGMS) Stifel reiterated Buy rating on the stock with a $22 target price. The consensus is set at $23.75. The shares closed Wednesday at $13.91 down over 4%.

Paramount Group, Inc. (NASDAQ: PGRE) Morgan Stanley downgraded the stock to Equal Weight from Overweight and lowered the target price to $6.50 from $8. The consensus target is $7.40. The last Wednesday trade was reported at $6.26.

Riot Blockchain, Inc. (NASDAQ: RIOT) H.C. Wainwright resumed coverage with a Buy rating and has a $10 target. The consensus is set just higher at $10.94. Shares closed Wednesday at $4.42 up almost 11%.

Southern Copper Corporation (NYSE: SCCO) Deutsche Bank downgraded the shares to Sell from Hold and has a $45 target price objective. The consensus is $51.40. The stock was last seen Wednesday at $59.35.

Tesla Inc. (NASDAQ: TSLA) Citigroup upgraded the electric vehicle giant to Neutral from Sell and raised their target price to $176 from $141.33. The consensus target for the stock is much higher at $263.74. The stock closed Wednesday at $183.20 up close to 8% after the upgrade.

Walgreens Boots Alliance, Inc. (NYSE: WBA) Morgan Stanley resumed coverage on the pharmacy giant with an Underweight rating and a $39 target price. The consensus is $41.85. The shares ended Wednesday at $41.76.

Warner Music Group Corp.(NYSE: WMG) BofA Securities upgraded the stock to Neutral from Underperform and raised their target price to $33 from $23. The consensus target is set at $32.47. The shares ended trading Wednesday at $32.19 up close to 4% after posting solid fiscal fourth quarter earnings.

Yum! Brands, Inc. (NYSE: YUM) Argus upgraded the stock to Buy from Hold and has a $142 target price. The consensus for the company is $133.56. The last trade on Wednesday was filled at $125.93.

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