Top Analyst Upgrades and Downgrades: Alibaba, Amazon, Apple, Carvana, Illumina, NextEra, Nikola, Shake Shack, Teladoc, WPX Energy and More

Immatics N.V. (NASDAQ: IMTX) was started with a Buy rating and a $17 price target (versus a $9.14 close) at Goldman Sachs. It had a $19.56 consensus target price ahead of the call, but its market cap is only about $600 million.

Kratos Defense & Security Solutions Inc. (NASDAQ: KTOS) was downgraded from Overweight to Neutral with a $20 price target at JPMorgan. Shares closed down 5.8% at $19.76 on Monday, with a $23.20 consensus target price and a 52-week trading range of $5.00 to $22.26.

Leidos Holdings Inc. (NYSE: LDOS) was raised from Neutral to Overweight with a $115 target price (versus an $88.43 close) at JPMorgan. The consensus target price was $117.92.

Matador Resources Co. (NYSE: MTDR) was raised to Buy from Hold at Truist Securities, which noted that it is one of very few exploration and production firms that it expects to have solid continued annual free cash flow starting next year and that will also grow its production.

NextEra Energy Inc. (NYSE: NEE) was started with a Buy rating and a $229 price target at Seaport Global. Shares closed at $276.20 on Monday, with a $289.19 consensus target price, but these are all pre-split levels.

Nikola Corp. (NASDAQ: NKLA) was down over 19% at $27.58 on Monday on news that its founder was suddenly resigning after the recent scandal with allegations of fraud. Deutsche Bank maintained its Hold rating but slashed its price target to $29 from $50, noting that the scandal will make it harder to sign new partnerships and to land new customers.

PPD Inc. (NYSE: PPD) was reiterated as Buy and its target price was raised to $38 from $35 (versus a $34.16 close) at Mizuho, with the firm talking about its increased guidance.

Seattle Genetics Inc. (NASDAQ: SGEN) was reiterated as Outperform and its target was raised to $187 from $185 at SVB Leerink. The stock closed down 1.1% at $178.83 on Monday, with a $187 consensus target price.

Shake Shack Inc. (NYSE: SHAK) was reiterated as Hold at Truist, and the firm raised its target to $58 from $51 (versus a $66.30 close) based on greater confidence of a sales recovery.

Teladoc Health Inc. (NYSE: TDOC) was started with a Buy rating and a $250 price target at D.A. Davidson, with the firm calling it a pure play in telehealth that is winning under the COVID-19 pandemic with growth that is higher than 60%.

Veritex Holdings Inc. (NASDAQ: VBTX) was down 6.6% at $15.83 on Monday. Raymond James raised it from Outperform to Strong Buy with a $22 price target. It had a $22.20 consensus target price, and its 52-week trading range is $10.02 to $29.41.

Vroom Inc. (NASDAQ: VRM) was raised to Buy from Neutral with a $60 price target at Goldman Sachs, which talked up its long room for growth in auto sales and noted that the stock has sold off too much from its highs. Shares closed down 0.5% at $46.43 on Monday but were indicated up over 9% at $51.00 on Tuesday. The recent high is $75.49.

WPX Energy Inc. (NYSE: WPX) was raised to Buy from Hold with an $8 price target (versus a $4.51 close) at Truist, with the firm noting that it will have free cash flow next year and that it will grow its production.

Jefferies has four defensive consumer staples leaders that worried investors can hide out in for safety and upside alike.

Monday’s top analyst upgrades and downgrades included Automatic Data Processing, Carrier Global, Darden Restaurants, KLA, Lam Research, Oracle, Snowflake, Southern, Tilray, UPS and Visa.

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