Investing

Top Analyst Upgrades and Downgrades: Activision, Altice, Boeing, Booking, Rocket, Truist, Walgreens and More

Kinnate Biopharma Inc. (NASDAQ: KNTE) was started with a Buy rating and a $48 price target at Goldman Sachs. The stock had a recent IPO and has traded between $34.14 and $48.75 since. Piper Sandler also started the company with a Buy rating but with a $60 target, while Wedbush started it as Outperform with a $48 price objective. The last trade to hit the tape on Thursday was at $34, and shares were up almost 8% in premarket action.

Ocular Therapeutix Inc. (NASDAQ: OCUL) was downgraded to Neutral from Buy at H.C. Wainwright. The analysts did not have a price target for the shares, which have traded between $3.78 and $24.30 over the past year. Thursday’s closing price was reported at $22.08.

PAE Inc. (NASDAQ: PAE) was started at Morgan Stanley with an Overweight rating and an $11 price objective. That compares with the higher $13.50 consensus target. The shares ended Thursday at $8.68.

Power Integration Inc. (NASDAQ: POWI) saw its target price raised to $90 from $72 at Cowen. The analyst cited upwardly revised numbers driven by more favorable end demand, and price hikes could drive further upside. The company’s dominant position and integration capabilities in power conversion enable it to effectively address rapid charging, energy efficiency and electrification. The consensus target is just $68.33. The shares closed last Thursday at $79.54.

RMR Group Inc. (NASDAQ: RMR) was started with a Buy rating and a $45 price target at BTIG Research. The consensus figure is $35.71, and the final trade on Thursday was reported at $38.16.

Rocket Companies Inc. (NYSE: RKT) was named as the Bull of the Day at Zacks, which said that this high-tech firm that facilitates lending is the wave of the future. Shares most recently closed at $20.83 and have a consensus price target of $24.70.

Truist Financial Corp. (NYSE: TFC) is reiterated with an Outperform rating at Raymond James, which has a $46 price objective. Shares were last seen on Thursday at $46.99.

Walgreens Boots Alliance Inc. (NYSE: WBA) was reiterated at Baird with a Neutral rating. Shares of the retail drugstore giant have traded between $33.36 and $59.78 over the past 52 weeks, and they have a $39.67 consensus price target. The last trade on Thursday was reported at $39.62.

While positive earnings could continue to drive the major indexes higher in 2021, a very overbought and fully valued market could offer some painful January indigestion. Five stocks look like solid total return ideas with upside potential and reliable dividends.

The top analyst upgrades and downgrades on Christmas Eve included Baidu, Fiserv, Virgin Galactic and Ultragenyx Pharmaceuticals.

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