Investing

Wednesday's Top Analyst Upgrades and Downgrades: American Air, Blackstone, Delta, Dick's, KKR, Splunk, Virgin Galactic and More

Medical Properties Trust Inc. (NYSE: MPW): RBC Capital Markets raised the stock to Outperform from Sector Perform and has a $23 price target. The $23.63 consensus target is slightly higher, and Tuesday’s closing print was $19.72 a share.

Nikola Corp. (NASDAQ: NKLA): D.A. Davidson started coverage on the electric vehicle company with a Neutral rating and a $10 price target. The consensus target is up at $18.14. The shares were last seen on Tuesday at $10.40, after pulling back over 5% on the day.

Pubmatic Inc. (NASDAQ: PUBM): Raymond James upgraded the stock to Outperform from Market Perform and has a $43 price target. The consensus target for the digital advertising company is even higher at $48.86. The stock closed Tuesday at $33.77, which was over 7% higher for the day, and the shares tacked on another 7% in premarket action after posting very good second-quarter results.

Splunk Inc. (NASDAQ: SPLK): UBS raised its Neutral rating on the big-data tech giant to Buy, and its price target jumped to $175 from $137. The consensus target is $168.31. The last trade on Tuesday hit the tape at $141.31.

Upstart Holdings Inc. (NASDAQ: UPST): Citigroup’s upgrade to Buy from Neutral included a huge boost to the price target, to $205 from $120. The $139.29 consensus is closer to Tuesday’s closing price of $135.68. The stock was up a massive 20% in the premarket after a strong earnings report.

Virgin Galactic Holdings Inc. (NASDAQ: SPCE): Morgan Stanley downgraded the popular meme stock to Underweight from Equal Weight, and the firm has set a $25 price target. The posted consensus target is higher at $39.20. The shares were last seen Tuesday at $31.33, after tumbling over 11% on the day. The selling continued in the premarket, with the shares down an additional 4% after the company announced that it was raising the ticket price for rides on its spaceplane to $450,000.


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Tuesday’s early top analyst upgrades and downgrades included Akamai Technologies, Apple, Array Technologies, Clorox, Fastly, Fisker, Fiserv and Oracle. Analyst calls seen later in the day were on SmileDirectClub, Squarespace, Victoria’s Secret and more.