Investing

Thursday Afternoon Analyst Upgrades and Downgrades: Bath & Body Works, Editas, GoDaddy, PetMed, Qorvo and More

With the trading day about halfway over, S&P 500, Nasdaq and Dow Jones industrial average were pushing higher for a number of reasons. Strong earnings beats have fueled optimism, Goldman Sachs is now the biggest bull on the S&P 500 and Thursday’s jobless claims showed improvement. Looking ahead, economists are waiting for July’s employment report coming out Friday morning.

24/7 Wall St. is reviewing some big analyst calls seen on Thursday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.

For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Thursday that included Chewy, Eli Lilly, Etsy, Halliburton, Robinhood, Roku, Walmart and more.

Bath & Body Works Inc. (NYSE: BBWI): While Jefferies upgraded the stock to a Buy rating from Hold, it also lowered the price target to $77 from $78. Shares traded near $62 on Thursday, in a 52-week range of $20.27 to $66.29.

Editas Medicine Inc. (NASDAQ: EDIT): Evercore ISI’s upgrade to Outperform from Underperform included a price target hike to $60 from $20. Shares traded near $52 on Thursday, in a 52-week range of $27.01 to $99.95. The consensus price target is $44.64.

ELF Beauty Inc. (NYSE: ELF): The Citigroup upgrade to Buy from Neutral included a price target boost from $32 to $35. The stock was trading at around $30 a share on Thursday, in a 52-week range of $17.32 to $31.29.

GoDaddy Inc. (NYSE: GDDY): Piper Sandler lowered its Overweight rating to Neutral and cut the price target to $85 from $100. Rosenblatt downgraded the stock to Neutral from Buy and reduced its target to $85 from $110. The stock was changing hands near $73 a share on Thursday, in a 52-week range of $68.66 to $93.75.

PetMed Express Inc. (NASDAQ: PETS): Credit Suisse resumed coverage with an Underperform rating and a $22 price target. The stock traded near $29 on Thursday, in a 52-week range of $24.75 to $57.00.

Qorvo Inc. (NASDAQ: QRVO): Benchmark resumed coverage with a Buy rating and a $225 price target. The stock traded near $198 on Thursday, in a 52-week range of $112.03 to $201.68. Its consensus price target is $208.26.

SmileDirectClub Inc. (NASDAQ: SDC): Credit Suisse resumed coverage with an Outperform rating and an $11 price target. The stock was trading at around $7 a share on Thursday, in a 52-week range of $6.52 to $16.08.


Investors worried about a sizable sell-off may want to consider moving to five outstanding dividend stocks now. They are rated Buy at major Wall Street firms, and chances are good they will hold up better than crowded technology or meme stocks if the market turns ugly in the next six to eight weeks.

Also see why the World Gold Council expects higher gold prices ahead.