Investing

Wednesday Afternoon Analyst Upgrades and Downgrades: Centennial Resource Development, Latch and More

With the trading day more than halfway over, the broad markets had made a comeback from the open but for the most part they were still negative. At this pace, it’s very possible that stocks could make a recovery from yesterday’s horrendous session by the end of the day.

24/7 Wall St. is reviewing some big analyst calls seen on Wednesday. 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 Wednesday that included BlackBerry, Sonos, Tencent, ViacomCBS, Wendy’s and more.

Centennial Resource Development Inc. (NASDAQ: CDEV): Cowen upgraded the stock to a Market Perform rating from Underperform with a $5.75 price target. Shares traded near $4.50 on Wednesday, in a 52-week range of $0.50 to $7.51.

Latch Inc. (NASDAQ: LTCH): KeyBanc Capital Markets initiated coverage with a Sector Weight rating. The stock traded near $10 on Wednesday, in a 52-week range of $9.55 to $19.70.

MarketWise Inc. (NASDAQ: MKTW): Raymond James started with an Outperform rating and a $15 price target. The stock was changing hands near $10 a share on Wednesday, in a 52-week range of $8.65 to $16.97.

Outbrain Inc. (NASDAQ: OB): Barclays started coverage with an Overweight rating and a $25 price target. The stock traded near $17 on Wednesday, in a 52-week range of $15.41 to $20.99.

Orchard Therapeutics PLC (NASDAQ: ORTX): JPMorgan downgraded it to Neutral rating Overweight. The stock was changing hands near $2.50 a share on Wednesday, in a 52-week range of $2.47 to $9.08.

Wrap Technologies Inc. (NASDAQ: WRAP): Zacks warned that investors might be too early on this idea, so it selected the public safety technology and services company as its Bear of the Day. The shares were trading near $7.65 on Wednesday, and the consensus price target is $9.42.


Investors worried about a big market correction may want to move to safe stocks that pay dividends. Goldman Sachs is very positive on five high-dividend-paying real estate investment trusts, which held up well in Tuesday’s sell-off.

See what stocks the spouse of Speaker Nancy Pelosi has been buying. Also see how Tilray is breathing life into pot stocks.