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Hot Stock Picks and Price Drops: Wall Street's Recent Upgrades and Downgrades
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The U.S stock market ticked up Friday after a tech-fueled sell-off this week, as investors looked forward to inflation data and the unofficial start of earnings season with big Wall Street banks sharing latest quarterly figures. So far today, The S&P 500 gained 0.5%, just shy of its recent record high, while the Dow Jones Industrial Average and the Nasdaq also added 0.45%.
Wall Street banks kicked off earnings season before the bell, testing the sector’s rally that has outpaced the S&P 500 this year. JPMorgan Chase saw a 25% profit surge in Q2, boosted by rising investment banking fees and an $8 billion gain from Visa, but its shares still slipped. Wells Fargo dropped 6% after posting a profit decline and missing interest income estimates, while Citi fell 2% despite a 10% profit rise due to a modestly lower net interest income outlook for 2024. As investors digest these earnings alongside inflation data, the market is starting to shift focus from high-flying tech stocks like Nvidia to more stable sectors like utilities and real estate.
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Friday, July 12th Upgrades and Downgrades
| Company | Ticker | Brokerage Firm | Ratings | Price Target | Current Price | Upside/ Downside |
| Booking Holdings | BKNG | Benchmark | Buy | $4,700 | $3,989.09 | 17.82% |
| Nvidia | NVDA | Benchmark | Buy | $135~$170 | $128.99 | 31.79% |
| Howmet Aerospace | HWM | Benchmark | Buy | $53~$85 | $79.67 | 6.69% |
| Kaiser Aluminum | KALU | Benchmark | Buy | $84~$100 | $93.28 | 7.20% |
| EVgo | EVGO | Benchmark | Buy | $3~$5 | $3.87 | 29.20% |
| Carvana | CVNA | BTIG | Buy | Initiated at $155 | $134.50 | 15.24% |
| DraftKings | DKNG | BTIG | Buy | $55~$53 | $37.77 | 40.32% |
| Amphenol | APH | Citi | Buy | $81 | $69.65 | 16.30% |
| Seagate | STX | Citi | Buy | $110~$120 | $106.58 | 12.59% |
| Western Digital | WDC | Citi | Buy | $90~$95 | $77.52 | 22.55% |
| Array Technologies | ARRY | Citi | Buy | $17~$14 | $11.37 | 23.13% |
| Air Products | APD | Citi | Buy | $280~$305 | $259.64 | 17.47% |
| DuPont | DD | Citi | Buy | $95~$94 | $80.72 | 16.45% |
| Ecovyst | ECVT | Citi | Buy | $13~$11 | $9.33 | 17.90% |
| IFF | IFF | Citi | Buy | $108~$116 | $98.12 | 18.22% |
| Liberty Global | LBTYA | Deutsche Bank | Buy | $33~$34 | $18.74 | 81.43% |
| Block | SQ | Deutsche Bank | Buy | $90~$98 | $69.17 | 41.68% |
| Inter Parfums | IPAR | Jefferies | Buy | $140 | $128.31 | 9.11% |
| J.Jill | JILL | Jefferies | Buy | $44 | $37.30 | 17.96% |
| ESS Tech | GWH | Roth MKM | Buy | Initiated at $1.50 | $0.86 | 74.42% |
| Sensus Healthcare | SRTS | Roth MKM | Buy | Initiated at $10 | $5.85 | 70.94% |
| Six Flags Entertainment | FUN | Stifel | Buy | $53~$68 | $53.21 | 27.80% |
| Brunswick | BC | Stifel | Buy | $97~$95 | $77.41 | 22.72% |
| MarineMax | HZO | Stifel | Buy | $35~$40 | $36.50 | 9.59% |
| MasterCraft Boat | MCFT | Stifel | Buy | $25~$22 | $19.11 | 15.12% |
| CACI | CACI | TD Cowen | Buy | $435~$480 | $434.11 | 10.57% |
| Floor & Decor | FND | TD Cowen | Buy | $115~$100 | $96.82 | 3.28% |
| Costco | COST | TD Cowen | Buy | $850~$925 | $839.86 | 10.14% |
| Ollie’s Bargain Outlet | OLLI | Truist | Buy | $102~$109 | $101.87 | 7.00% |
| APA Corp. | APA | Truist | Buy | $53~$52 | $29.87 | 74.09% |
| Delta Air Lines | DAL | Bernstein | Outperform | $66~$62 | $44.40 | 39.64% |
| Microsoft | MSFT | BMO Capital | Outperform | $465~$500 | $452.18 | 10.58% |
| BayCom | BCML | Hovde Group | Outperform | Initiated at $24 | $21.67 | 10.75% |
| Lantheus | LNTH | Mizuho | Outperform | $100~$165 | $121.34 | 35.98% |
| Domino’s Pizza | DPZ | Oppenheimer | Outperform | $580 | $483.00 | 20.08% |
| NXP Semiconductors | NXPI | Oppenheimer | Outperform | $295~$330 | $277.97 | 18.72% |
| Chipotle | CMG | Stephens | Equal Weight | $61~$64 | $58.51 | 9.38% |
| Valero | VLO | Wells Fargo | Equal Weight | $179~$156 | $146.22 | 6.69% |
| BP | BP | Wells Fargo | Equal Weight | $42~$41 | $35.19 | 16.51% |
| Occidental Petroleum | OXY | Wells Fargo | Equal Weight | $69~$68 | $61.36 | 10.82% |
| InMode | INMD | Canaccord | Hold | $21~$16 | $17.39 | -7.99% |
| Spirit AeroSystems | SPR | Deutsche Bank | Hold | $37~$37.25 | $34.61 | 7.63% |
| Telus International | TIXT | Citi | Neutral | $7 | $6.37 | 9.89% |
| Albemarle | ALB | Citi | Neutral | $137~$100 | $98.78 | 1.24% |
| Ecolab | ECL | Citi | Neutral | $257~$267 | $245.86 | 8.60% |
| Tesla | TSLA | Mizuho | Neutral | $180~$230 | $243.96 | -5.72% |
| Rivian Automotive | RIVN | Mizuho | Neutral | $11~$15 | $17.76 | -15.54% |
| Southern Copper | SCCO | UBS | Neutral | $120 | $114.42 | 4.88% |
| HubSpot | HUBS | UBS | Neutral | $640~$580 | $474.11 | 22.33% |
| Plymouth Industrial REIT | PLYM | Wedbush | Neutral | Initiated at $23 | $22.74 | 1.14% |
| Stag Industrial | STAG | Wedbush | Neutral | Initiated at $38 | $37.65 | 0.93% |
| Revolution Medicines | RVMD | Barclays | Overweight | Initiated at $52 | $43.95 | 18.32% |
| Enphase Energy | ENPH | Barclays | Overweight | $134~$131 | $115.23 | 13.69% |
| Royal Caribbean | RCL | Barclays | Overweight | $165~$185 | $165.78 | 11.59% |
| Joby Aviation | JOBY | Cantor Fitzgerald | Overweight | $10 | $6.34 | 57.73% |
| Netflix | NFLX | JPMorgan | Overweight | $650~$750 | $652.79 | 14.89% |
| Boston Beer | SAM | Piper Sandler | Overweight | $350~$344 | $287.54 | 19.64% |
| Biogen | BIIB | Piper Sandler | Overweight | $335~$313 | $232.27 | 34.76% |
| Adobe | ADBE | Piper Sandler | Overweight | $700~$635 | $553.58 | 14.71% |
| Wingstop | WING | Stephens | Overweight | $456 | $388.12 | 17.49% |
| HF Sinclair | DINO | Wells Fargo | Overweight | $75~$61 | $47.97 | 27.16% |
| Marathon Petroleum | MPC | Wells Fargo | Overweight | $223~$196 | $163.26 | 20.05% |
| Marathon Oil | MRO | Scotiabank | Sector Perform | $45~$29 | $28.39 | 2.15% |
| Fluence Energy | FLNC | Scotiabank | Sector Perform | $21 | $18.45 | 13.82% |
| Tesla | TSLA | UBS | Sell | $147~$197 | $243.96 | -19.25% |
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