Top Analyst Upgrades and Downgrades: Avaya, Dell, On Semi, Neurocrine Bio, Palo Alto, Ping, Poshmark, Switch and More

On Semiconductor Corp. (NYSE: ON) saw its target price raised to $43 from $38 at Goldman Sachs, which has a Buy rating on the stock. The consensus target is $38.24, and the shares closed on Monday at $36.71, after almost a 7% gain for the day.

Omnicell Inc. (NASDAQ: OMCL) was upgraded to Overweight from Neutral at Piper Sandler, which also raised the price target to $147. That compares with the $126.63 consensus target and Monday’s close price of $122.04.

Palo Alto Networks Inc. (NASDAQ: PANW) was raised to Outperform from Neutral at Credit Suisse. The price target on the cybersecurity software leader was raised to $425 as well. The consensus target is $371.12. The shares traded up 3% on Monday to close at $361.36. The stock was up another 3% in premarket action.

Ping Identity Holding Corp. (NYSE: PING) was started at Overweight with a $40 price target at Stephens. The consensus target for the cybersecurity newcomer is $34.53. The stock closed Monday at $30.83, up over 3% for the day, and shares were almost 2% higher in Tuesday’s premarket action.

Phantom Pharmaceuticals Inc. (NASDAQ: PHAT) was started with a Buy rating at Guggenheim, which has a $60 target price. The consensus target is just $51. The stock closed on Monday at $38.49. Shares traded almost 4% higher in Tuesday’s premarket.

Poshmark Inc. (NASDAQ: POSH) was started with a Buy rating and an $88 target at MKM Partners. A consensus target has not yet been posted. The last trade for Monday came in at $73, after rising almost 5% for the day.

Proofpoint Inc. (NASDAQ: PFPT) was started with an Overweight rating and a $165 target at Stephens. The consensus target is $143.74. The closing price on Monday was $130.62. Shares were almost 3% higher in the premarket.

Sage Therapeutics Inc. (NASDAQ: SAGE) was resumed in coverage at Raymond James with a Market Perform rating. The stock has traded in a 52-week range of $25.01 to $98.39 and has a consensus price target of $99.20. Monday’s final trade was posted at $82.66.

Switch Inc. (NYSE: SWCH) was started with a Buy rating at Truist Securities, which has a $25 price target. The consensus target is $21.25. Monday’s close at $17.86 followed almost a 4% gain for the day. The shares were almost 6% in premarket trading.

TETRA Technologies Inc. (NYSE: TTI) was raised from Underperform to Outperform with a $3 target at Evercore ISI. A consensus target was not available. The shares ended trading on Monday at $1.48 and were up almost 15% in premarket trading.

Vipshop Holdings Ltd. (NASDAQ: VIPS) was raised to Overweight from Equal Weight at Morgan Stanley, which raised the price target to $33. The consensus target is $27.48. The last trade for Monday hit the tape at $29.25, which was almost 7% higher for the day. The stock followed though in the premarket with an additional 4% rise.

Zix Corp. (NYSE: ZIX) was started with an Overweight rating and an $11 price target at Stephens. That matches the consensus target of $11. Monday’s closing price was $8.32 per share.

BofA Securities has made some big changes to its US 1 List of top stock recommendations. Three stocks would be great additions to long-term growth portfolios as they are in sectors poised to outperform this year.

Monday’s early top analyst upgrades and downgrades included AMC Entertainment, Bed Bath & Beyond, Halliburton, Intuit, Moderna, Nikola, Phillips 66, Stitch Fix and Virgin Galactic. Analyst calls seen later in the day were on American Airlines, Intel, Lowe’s, Tesla and more.

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