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Top Analyst Upgrades and Downgrades: AECOM, BBVA, Cheniere, Chevron, DraftKings, GM, Moderna, Novavax, Palo Alto, Penn National and More

Foghorn Therapeutics Inc. (NASDAQ: FHTX) was started with an Outperform rating and a $24 price target (versus a $16.05 close) at Wedbush Securities. It was described as leveraging unique insights into the chromatin regulatory system to develop a differentiated pipeline of precision oncology medicines. Goldman Sachs started it with a Buy rating and a $27 price target.

General Motors Co. (NYSE: GM) was named as the Bull of the Day at Zacks, based on a popular and profitable lineup of cars and trucks, as well as its electrification goals for this decade. While the legacy automaker is said to be worth a fresh look, it just hit a 52-week high of $42.15 on Monday, and its consensus target price is $46.29.

Glaukos Corp. (NYSE: GKOS) was raised to Equal Weight from Underweight with a $68 price target at Wells Fargo. Shares closed at $66.06 on Monday and have a $55.11 consensus target price.

Maxar Technologies Inc. (NYSE: MAXR) was raised to Buy from Hold with a $36 price target at Canaccord Genuity. The stock closed up 0.6% at $25.16 a share on Monday.

McAfee Corp. (NASDAQ: MCFE) saw most of its top analysts issue ratings on Monday after the quiet period expiration, and the stock closed up 1.5% at $17.42, though it is still considered a busted IPO. Citigroup started it with a Neutral rating and an $18 target price.

Moderna Inc. (NASDAQ: MRNA) was up nearly 10% at $97.95 on Monday on news that its COVID-19 vaccine was better than 94% successful. The stock hit an all-time high of $103.20 on the news, before selling off. BMO Capital Markets downgraded it from Outperform to Market Perform with a $109 target price. Its consensus target price was $104.00.

Novavax Inc. (NASDAQ: NVAX) was down 6.1% at $90.65 on Monday after Moderna’s solid vaccine effectiveness report. H.C. Wainwright maintained its Buy rating but cut its price target to $207 from $290. The consensus target price was $202.80, and it had a 52-week trading range of $3.54 to $189.40.

PagerDuty Inc. (NYSE: PD) was started as Neutral with a $28 price target at Credit Suisse. The stock closed down nearly 2% at $29.66 on Monday and has a $30.00 consensus price target.

Palo Alto Networks Inc. (NYSE: PANW) was up 7.6% at $278.50 a share on Monday. Wedbush reiterated its Outperform and raised its target to $320 from $300. The firm noted another strong quarter in the books and sees clear momentum for 2021.

Penn National Gaming Inc. (NASDAQ: PENN) was started with a Hold rating and a $60 price target at Loop Capital.

Smith & Wesson Brands Inc. (NASDAQ: SWBI) was reiterated as Neutral and the price target was cut to $17 from $20 (versus a $16.07 close) at Wedbush.

Sprout Social Inc. (NASDAQ: SPT) was downgraded to Equal Weight from Overweight at Morgan Stanley. The shares closed down 7.7% at $46.99 on Monday, and they have a $53.10 consensus price target.


Four recent technology IPOs have started trading, some with disappointing acceptances. Analysts have big Buy ratings and see solid upside heading into 2021.

Monday’s top analyst upgrades and downgrades included Bristol-Myers Squibb, Chewy, DraftKings, Exxon Mobil, McAfee, Nvidia, Square, Tilray and Walt Disney.