Tuesday Afternoon Analyst Upgrades and Downgrades: Lululemon, Progressive, Rackspace, Tesla and More
24/7 Wall St. looks at some big analyst upgrades and downgrades that we have seen so far on Tuesday, including Chubb, Lululemon Athletica, Progressive, Rackspace Technology and Tesla.
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With the trading day more than halfway over, the broad markets were in full retreat. Retail sales reported earlier in the morning missed estimates, and this has some investors concerned. At the same time, many investors are concerned about the geopolitical ramifications of the U.S. pulling out of Afghanistan and what could happen next.
24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. 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 Tuesday that included Allstate, Hyatt, Lemonade, Robinhood, Suncore Energy and more.
Chubb Ltd. (NYSE: CB | CB Price Prediction): Wolfe Research started coverage with an Outperform rating and a $231 price target. Shares traded near $184 on Tuesday, in a 52-week range of $111.93 to $186.16.
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Lululemon Athletica Inc. (NASDAQ: LULU): B. Riley Securities reiterated a Buy rating and raised the price target to $466 from $370. Shares traded near $391 on Tuesday, in a 52-week range of $269.28 to $415.34.
Progressive Corp. (NYSE: PGR): Wolfe Research initiated coverage with an Underperform rating and an $85 price target. The stock was changing hands near $96 a share on Tuesday, in a 52-week range of $84.89 to $107.59.
Rackspace Technology Inc. (NASDAQ: RXT): JPMorgan downgraded the stock to a Neutral rating from Overweight and has an $18 price target. The stock traded near $13 on Tuesday, in a 52-week range of $13.23 to $26.43.
Skillsoft Corp. (NYSE: SKIL): Oppenheimer started it with a Perform rating. The stock was changing hands near $9 a share on Tuesday, in a 52-week range of $8.94 to $11.75.
Tesla Inc. (NASDAQ: TSLA): Bernstein reiterated an Underperform rating but raised its price target to $300 from $180. The stock traded near $656 on Tuesday, in a 52-week range of $329.88 to $900.40. Its consensus price target is $713.15.
V.F. Corp. (NYSE: VFC): BofA Securities resumed coverage with an Underperform rating and an $80 price target. The stock was changing hands near $76 a share on Tuesday, in a 52-week range of $60.48 to $90.79.
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Five tech stocks have had an awesome 2021 and look poised to trade much higher. Each has been a big purchaser of its own shares as well, and Goldman Sachs sees more of the same for the rest of this year.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
