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Top Analyst Upgrades and Downgrades: AON, Cognizant, Disney, Dow, PayPal, PG&E, PNC, Qualcomm, Shopify, Tesla, Valero, Wells Fargo and More
May 4, 2020 9:01 am
Last Updated: May 4, 2020 9:03 am
Phillips 66 (NYSE: PSX) was raised to Buy from Neutral with a $95 price target (versus a $66.36 close) at Mizuho.
Planet Fitness Inc. (NYSE: PLNT) was named as the Zacks Bear of the Day stock. The firm said that staying fit at home gains momentum as the gym suffers. Shares last closed at $57.62 and have a consensus price target of $68.46.
PNC Financial Services Group Inc. (NYSE: PNC) was downgraded to Sell from Neutral at UBS.
Qualcomm Inc. (NASDAQ: QCOM) was started with an Underweight rating and a $70 price target (versus a $75.64 close) at Wells Fargo.
Range Resources Corp. (NYSE: RRC) was downgraded to Neutral from Buy at MKM Partners.
Realty Income Corp. (NYSE: O) was raised to Overweight from Equal Weight at Morgan Stanley.
Republic Services Inc. (NYSE: RSG) was maintained as Hold but its price target was cut to $82 from $102 at Deutsche Bank.
Shopify Inc. (NYSE: SHOP) was reiterated as Overweight but the price target was raised to $700 from $500 (versus a $613.64 close) at KeyBanc Capital Markets.
Sinclair Broadcast Group Inc. (NASDAQ: SBGI) was downgraded to Underweight from Equal Weight and its price target was cut to $11 from $16 at Wells Fargo.
Southern Co. (NYSE: SO) was raised to Neutral from Underperform at Credit Suisse.
Tesla Inc. (NASDAQ: TSLA) was maintained as Equal Weight and the price target was raised to $680 from $440 (versus a $701.32 close, after a 10.3% drop) at Morgan Stanley.
Valero Energy Corp. (NYSE: VLO) was raised to Buy from Neutral with an $85 price target (versus a $58.76 close) at Mizuho.
Walt Disney Co. (NYSE: DIS) was downgraded to Neutral from Buy at MoffettNathanson, which noted that the downturn will be longer than most anticipate and it has lowered estimates even out to 2021 and 2022.
Waste Management Inc. (NYSE: WM) was maintained as Hold but its price target was cut to $104 from $132 at Deutsche Bank.
Wayfair Inc. (NYSE: W) was named as the Bull of the Day at Zacks, which said that the company is seeing a benefit as consumers grow more comfortable with online shopping. Shares most recently closed at $122.50, with a consensus price target of $87.67.
Wells Fargo & Co. (NYSE: WFC) was downgraded to Sell from Neutral at UBS.
The huge roller-coaster ride of the markets has helped create a surge in volumes, and new investors have come into the markets while volatility continues to stay high. The Goldman Sachs team feels this bodes well for the capital markets stocks, those of the companies most directly involved in the mechanics of the markets.
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