PG&E Corp. (NYSE: PCG) was maintained as Buy but its target price was lowered to $20.00 from $24.50 at Mizuho.
Schlumberger Ltd. (NYSE: SLB) was downgraded to Neutral from Buy and its target price was cut to $30 from $47 at UBS.
Shopify Inc. (NYSE: SHOP) was named as the Zacks Bear of the Day stock. The firm said that the announcement of a big investment year took 2020 EPS estimates down over 75%, but price targets jumped to $600. Shares last closed at $488.40 and have a consensus price target of $564.27.
StoneCo Ltd. (NASDAQ: STNE) was reiterated as Overweight and the target price was raised to $49 from $40 (versus a $43.86 close, after a 9.9% gain) at Cantor Fitzgerald.
Tesla Inc. (NASDAQ: TSLA) was up 11.3% at $743.62 on Monday, but that is still down from its recent all-time high of $968.99. JMP Securities raised Tesla to Outperform from Market Perform with a $1,060 target price, with the firm noting that the backup in shares offered a good opportunity for investors to get back in.
Uber Technologies Inc. (NYSE: UBER) was maintained as Buy but its target price was lowered to $54 from $56 at Needham. Uber closed down 3% at $32.85 on Monday, despite the market rally, over concerns that the public will be taking fewer rides if they are worried about getting sick.
United Parcel Service Inc. (NYSE: UPS) was raised to Buy from Hold with a $119 target price (versus a $92.75 close) at Deutsche Bank. UPS had a consensus target price of $121.91, and its 52-week high is $125.31.
Vale S.A. (NYSE: VALE) was raised to Overweight from Equal Weight with a $13.50 target price (versus a $10.27 close) at Morgan Stanley.
Veeco Instruments Inc. (NASDAQ: VECO) was upgraded to Buy from Hold and the target price was raised to $18 from $14 (versus a $13.46 close) at Stifel.
Warrior Met Coal Inc. (NYSE: HCC) was raised to Buy from Neutral with a $33 target price at R. Riley FBR. The stock closed up 4.5% at $18.51 on Monday and was indicated up 1% on Tuesday. Its prior consensus target price was $28.25, and it is down from a 52-week high of $33.49.
WEX Inc. (NYSE: WEX) was downgraded to Neutral from Buy at Citigroup.
Whiting Petroleum Corp. (NYSE: WLL) was maintained with a Buy rating but its target price was slashed to $3 from $9 (versus a $1.70 close, after an 8% drop) at MKM Partners. Shares are down from a high of $30 last year, and the consensus target price was $6.98.
WW International Inc. (NYSE: WW), the parent of Weight Watchers, was raised to Buy from Neutral with a $37 target price at Citigroup. WW closed up just one cent at $30.01 a share on Monday, despite a major market rally, but its shares were indicated up over 6% at $31.90 on Tuesday morning.
YETI Holdings Inc. (NYSE: YETI) was raised to Buy from Neutral but its target price was lowered to $37 from $39 at Citigroup, with the firm noting that the sell-off of 2% to $29.61 from a prior high of $38.61 has been an oversold situation.
Beyond Rate Cuts, 8 Non-Traditional Federal Reserve and Government Tools to Fight Coronavirus Economic Ruin
A firm called Capital Economics has lowered its first-quarter GDP expectations here in the United States to 1.8% from 2.0%, based on the coronavirus being at the early stage of a domestic epidemic and it having a worse economic impact than previously expected. The firm now sees the Federal Reserve cutting federal funds rate by 50 basis points between now and mid-year.
Monday’s top analyst upgrades and downgrades included ABB, Apple, Baidu, Casper Sleep, General Electric, Groupon, JPMorgan, Micron Technology, PPD, Verizon Communications, Wayfair and many more.
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