Top Analyst Upgrades and Downgrades: Apache, CME, Cree, On Semiconductor, Pioneer Natural Resources, Plug Power, Sony, Wayfair and More

Cree Inc. (NYSE: CREE) was started at BofA Securities with a Buy rating and a $140 price target. The consensus target is much lower at $113. Friday’s close was reported at $113.46, up almost 8% on the day, and the shares added an additional 3% in Monday’s premarket.

Five9 Inc. (NASDAQ: FIVN) was started at Jefferies with a Buy rating and a $220 target. The consensus target is $199, and the closing trade for Friday came in at $185.24.

ICON PLC (NASDAQ: ICLR) was raised to Buy from Neutral at UBS, which raised the price target to $232. The consensus target is $224.08. The stock closed on Friday at $180.68.

Kodiak Sciences Inc. (NYSE: KOD) was downgraded to Underweight from Equal Weight at Barclays, which raised the price target to $90. The consensus target is higher at $135.82. Friday’s close was at $129.01 a share.

Life Storage Inc. (NYSE: LSI) was raised to Outperform from Inline at Evercore ISI, which also raised the price target to $94. That compares with the lower $89.23 consensus and a final print on Friday at $83.90.

ON24 Inc. (NYSE: ONTF) was started with a Buy rating and a $70 price target at Needham. The analysts noted they believe that the company has strong profitability and revenue growth potential. Goldman Sachs started the shares with a Buy rating and an $88 target, while Piper Sandler has an Overweight rating with a $70 target. As this company recently went public, there is no consensus target yet. The final trade on Friday came in at $56.56. Shares are up over 6% in the premarket.

On Semiconductor Corp. (NASDAQ: ON) was raised at BofA Securities from Underperform to Buy with a $48 target. The consensus target is $40.20. The stock was last seen trading on Friday at $40.27. The shares were up over 4% in premarket trading.

Pioneer Natural Resources Co. (NYSE: PXD) was downgraded to Market Perform from Outperform with a $143 price objective at Bernstein. The consensus target for the energy giant is $164.84. The stock closed at $148.57 on Friday.

Planet Fitness Inc. (NYSE: PLNT) was named as the Zacks Bear of the Day stock. The firm said that COVID-19 is still having an adverse effect on the broader fitness industry. Shares last closed at $86.09 but have a consensus price target of just $81.92.

Plug Power Inc. (NASDAQ: PLUG) was raised to Overweight from Neutral at JPMorgan, which has a $65 price target. That compares with the $61.70 consensus target and Friday’s closing trade of $48.38, which was up a massive 12% on the day. The shares followed through in the premarket, adding an additional 6%.