MercadoLibre Inc. (NASDAQ: MELI) was downgraded to Neutral from Positive at Susquehanna.
Michaels Companies Inc. (NASDAQ: MIK) was named as the Zacks Bear of the Day stock. The firm said that the retail apocalypse is hitting the fan amid this global pandemic. Shares last closed at $2.00 and have a consensus price target of $4.61.
Netflix Inc. (NASDAQ: NFLX) closed down 0.8% at $433.83 ahead of earnings, with a $402.21 consensus price target, and its shares were indicated marginally lower on Wednesday morning. RBC Capital Markets reiterated its Outperform rating and raised its price target to $500 from $420. Raymond James downgraded it to Outperform from Strong Buy but raised its price target to $480 from $415, while Benchmark maintained its Overweight rating and raised its price target to $340 from $325. Stifel downgraded Netflix to Hold from Buy.
Snap Inc. (NYSE: SNAP) was down 3.7% at $12.44 ahead of earnings but was trading up over 15% at $14.00 afterward. Credit Suisse maintained it as Outperform but cut its price target to $18 from $20. RBC Capital Markets reiterated its Outperform rating and raised its price target to $21 from $18. Oppenheimer raised it to Outperform from Perform and raised the price target to $18, and Barclays reiterated its Overweight rating and raised its price target to $20 from $19.
Steel Dynamics Inc. (NASDAQ: STLD) was reiterated as Overweight and its price target was raised to $25 from $23 (versus a $22.22 close) at KeyBanc Capital Markets.
Tesla Inc. (NASDAQ: TSLA) was downgraded to Underperform from Neutral and its price objective was cut to $485 from $500 at BofA Securities. Tesla stock closed down almost 8% at $686.72 on Tuesday, and its consensus price target was $466.05 ahead of the call.
Texas Instruments Inc. (NASDAQ: TXN) closed down 4.2% at $106.84 ahead of earnings, but the after-hours reaction had it back up over 2% at $109.25, with a $121.50 consensus price target. RBC Capital Markets maintained its Sector Perform rating but cut its price target to $125 from $135.
Transocean Ltd. (NYSE: RIG) was downgraded to Underperform from Sector Perform and its price target was lowered to $1.50 from $2.50 (versus a $1.10 close) at RBC Capital Markets.
Zynga Inc. (NASDAQ: ZNGA) was downgraded to Underperform from Neutral but its price objective was raised to $7.50 from $6.75 at BofA Securities.
There are seven oil stocks that have hedged oil production at much higher prices.
The team at BofA Securities has increased its 18-month price target on gold to the $3,000 per ounce level. That would be a massive 75% move from current levels, and five top gold picks are expected to score handily on the move.
Tuesday’s top analyst upgrades and downgrades included American Airlines, Chewy, Chipotle Mexican Grill, CommScope, Eli Lilly, IBM, Lyft, Oneok, Stitch Fix, Valero Energy, Williams Companies and more.