Investing

Top Analyst Upgrades and Downgrades: Abbott Labs, Chipotle, Netgear, Parsley Energy, Peloton, Pinterest, Tesla, Wayfair, WPX Energy, Zscaler and More

Parsley Energy Inc. (NYSE: PE) closed down 8.4% at $9.73 on the news of its merger with Pioneer. MKM Partners downgraded Parsley Energy from Buy to Neutral with an $11 price target (versus a $9.73 prior close).

Peloton Interactive Inc. (NASDAQ: PTON) was downgraded to Neutral from Buy at Goldman Sachs. The stock was down 5.8% at $124.30 per share on Wednesday and was indicated down another 3.9% at $119.40 Thursday morning. Its consensus target price is $116.33.

Pinterest Inc. (NYSE: PINS) was raised to Buy from Neutral and its target price was raised to $61 from $37 (versus a $49.38 prior close) at Goldman Sachs. The stocks 8.9% gain the prior day was based largely on Snap’s strong earnings gain, and it is now well above the prior consensus target price of $39.60.

PNM Resources Inc. (NYSE: PNM) was up 9% at $49.90 a share on Wednesday after its Avangrid buyout news. It was downgraded to Neutral from Buy with a $52 price target at Mizuho, to Equal Weight from Overweight at Wells Fargo and to Equal Weight from Overweight at Barclays.

Qualys Inc. (NASDAQ: QLYS) was downgraded Sell from Neutral at Goldman Sachs.

Sleep Number Corp. (NASDAQ: SNBR) was named as the Bull of the Day at Zacks, which said that selling a really good night of sleep has become more profitable than ever. Shares most recently closed at $61.61 and have a consensus price target of just $46.75.

Splunk Inc. (NASDAQ: SPLK) was reiterated as Buy and its target price was raised to $301 from $250 at Needham.

Teradyne Inc. (NYSE: TER) was raised to Neutral from Negative at Susquehanna.

Tesla Inc. (NASDAQ: TSLA) was last seen up almost 5% at $443.00 a share on Thursday after the earnings report indicated that the company is on track to produce 500,000 cars in 2020. Robert W. Baird raised the shares from Neutral to Outperform with a $488 price target, and JMP Securities raised it from Market Perform to Market Outperform with a $515 price target.

Wayfair Inc. (NYSE: W) was downgraded to Accumulate from Buy at Gordon Haskett. The stock closed down 8.2% at $270.27 a share on Wednesday, and it has a $309.60 consensus target price.

WPX Energy Inc. (NYSE: WPX) shares were down another 3.5% at $4.40 following news of its merger with Devon. Piper Sandler upgraded it from Neutral to Overweight with an $8 price target.

Zscaler Inc. (NASDAQ: ZS) was down 2.6% at $146.85 a share on Wednesday, and it is very close to its $147.73 consensus target price. Webush Securities has reiterated its Outperform rating and raised its target price to $175 from $160, based on strong and continued deal flow ahead of its earnings report.

The BofA Securities US 1 list of top stock picks includes four technology stocks that offer aggressive growth investors solid upside in 2021 and a place to put capital into the sector where the trades are perhaps not as overbought and crowded as some momentum plays.

Wednesday’s top analyst upgrades and downgrades included Albermarle, Albertsons, Dave & Buster’s, eBay, Netflix, Slack, Snap and Texas Instruments.

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