Occidental Petroleum Corp. (NYSE: OXY) was raised to Peer Perform from Underperform at Wolfe Research, which raised the price target on the energy giant to $30. The consensus target is $25.20. The shares closed Wednesday at $29.36, up almost 3% for the day.
Plains All American Pipeline L.P. (NYSE: PAA) was downgraded to Peer Perform from Outperform at Wolfe Research, which has a $10 price target. The consensus target is higher at $11.56, and the stock was last seen trading at $9.76 on Wednesday.
Qorvo Inc. (NASDAQ: QRVO) was upgraded to Overweight from Equal Weight at Barclays, which also raised the price target to $200. The consensus target is $190.50. The final trade for Wednesday came in at $165.37.
Regis Corp. (NYSE: RGS) was named the Zacks Bear of the Day stock. The firm said that the pandemic is beginning to subside but that does not mean business as usual for everyone. Shares last closed at $12.47, but the consensus price target is $11.00.
Vir Biotechnology Inc. (NASDAQ: VIR) saw its price target raised to $66 from $59 at Goldman Sachs, which has a Buy rating on the shares. The consensus target is up at $82.20. The stock closed Wednesday at $46.82, up over 4% on the day, and the shares rocketed higher in the premarket after the company said its experimental COVID-19 treatment, being developed with GlaxoSmithKline, significantly reduced hospitalization and death in high-risk adults.
Note that the analysts at BofA Securities have made some big changes to the firm’s US 1 List of top stock recommendations.
In addition, Cathie Wood’s ARK Invest just bought half a million shares of Roblox Corp. (NYSE: RBLX). Short sellers have shied away from both Tesla Inc. (NASDAQ: TSLA) and traditional carmakers. And see why General Electric Co. (NYSE: GE) has announced a big reverse stock split.
Wednesday’s early top analyst upgrades and downgrades included Airbnb, Apple, Chevron, Fortinet, Hewlett Packard Enterprise, Old Dominion Freight Line and Stratasys. Analyst calls seen later in the day were on DraftKings, H&R Block, Novartis and more.
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