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Top Analyst Upgrades and Downgrades: Apple, Cheniere, Envision Solar, Livent, Lyft, Nikola, Nio, Roku, Salesforce, Shopify, Uber, Vroom and More

Lyft Inc. (NASDAQ: LYFT) was reiterated as Buy but its target price was trimmed to $49 from $50 at Citigroup. Shares closed at $29.10 on Tuesday and have a $40.71 consensus target price.

Medtronic PLC (NYSE: MDT) was reiterated as Buy and its target price was raised to $120 from $108 (versus a $102.59 close) at Citigroup.

Nikola Corp. (NASDAQ: NKLA) was started with a Neutral rating and a $45 target price (versus a $39.18 close) at Wedbush Securities.

Nio Ltd. (NYSE: NIO) was raised to Overweight from Equal Weight and its target price was raised to $20.50 from $12.00 (versus a $17.84 close) at Morgan Stanley.

Roku Inc. (NASDAQ: ROKU) was started as Buy with a $180 price target at Citigroup. The stock closed down 0.55% at $147.77, and it had a $163.90 consensus target price ahead of this call.

Salesforce.com Inc. (NYSE: CRM) saw its shares surge 15% to $247.00 after earnings. Wedbush Securities reiterated its Outperform rating and raised its target to $300 from $250, and Raymond James reiterated its Strong Buy rating and raised its target to $255 from $230. Citigroup reiterated its Buy rating and raised its target to $300 from $195. Truist Securities reiterated its Buy rating and raised its target to $287 from $210.

Shopify Inc. (NYSE: SHOP) was started with an Overweight rating at Atlantic Equities. The stock closed up 3.8% at $1,037.19, and it had a $1,094.83 consensus price target ahead of the call.

Target Inc. (NYSE: TGT) was again named as the Bull of the Day at Zacks, which said that shares have jumped 25% in the past month as Wall Street gushes over its recent blowout quarter. Shares most recently closed at $152.85 and have a consensus price target of $158.73.

Uber Technologies Inc. (NYSE: UBER) was maintained as Buy but its price target was trimmed to $40 from $41 (versus a $31.19 close) at Citigroup.

Urban Outfitters Inc. (NASDAQ: URBN) was maintained as Neutral and its price target was raised to $24 from $20 at Citigroup, and Loop Capital Raised its rating from Sell to Hold with a $24 target price.

Vroom Inc. (NASDAQ: VRM) was started as Overweight with an $82 target price (versus $65.36 prior close) at Piper Sandler.

In addition, note that five very contrarian stock picks have huge potential upside in 2021.

And note that the two most shorted Dow stocks are about to drop out of the index.

Tuesday’s top analyst upgrades and downgrades included Crocs, Gap, GW Pharmaceuticals, Lowe’s Companies, Merck, Nio, Palo Alto Networks, Phillips 66, Starbucks and Vital Farms.