Investing

Wednesday's Top Analyst Upgrades and Downgrades: BlackBerry, GXO, Huntington, Sonos, Tencent Music, ViacomCBS, Wendy's and More

Andersons Inc. (NASDAQ: ANDE): Seaport Global Securities upgraded the stock to Buy from Neutral and has a $45 price target. The consensus target is just $29.67. The last trade for Tuesday was posted at $29.46, which was up over 3% for the day. The shares followed through in the premarket, tacking on an additional 5% gain.

BlackBerry Ltd. (NYSE: BB): Canaccord Genuity upgraded the meme stock favorite from Sell to Hold with a $10 price target. The consensus target is $8.36. The shares closed on Tuesday at $9.67. The stock got some traction in the premarket, as it was up almost 3%.

Chindata Group Holdings Ltd. (NYSE: CD): JPMorgan started coverage with an Overweight rating and an $18 price target. The consensus target is $13.67. The stock fell almost 7% on Tuesday to close at $10.25.

Core & Main Inc. (NYSE: CNM): Citigroup started coverage with a Buy rating and a $31 price target. Due to the recent initial public offering, no consensus was available yet. The shares have traded between $20.00 and $27.85 so far. The last trade for Tuesday hit the tape at $26.15, which was down just over 5% on the day.

Cree Inc. (NYSE: CREE): Goldman Sachs lowered its price target to $92 from $106 while keeping a Neutral rating. The posted consensus target is $117.92. The last trade for Tuesday was at $86.25. The shares were down almost 6% in premarket action, after Cree reported a quarterly loss but topped revenue estimates.

Four Corners Property Trust Inc. (NYSE: FCPT): Raymond James downgraded the stock to Outperform from Strong Buy and lowered the price target to $30 from $34. The consensus price objective is $33.20. The last trade for Tuesday came in at $27.21.

GXO Logistics Inc. (NYSE: GXO): Loop Capital started coverage with a Buy rating and a $90 target. The consensus target is down at $78.67. The last trade on Tuesday came in at $74.43, after a retreat of almost 6% for the day.

Huntington Bancshares Inc. (NASDAQ: HBAN): Goldman Sachs resumed coverage with a Buy rating and an $18 price target. That compares with a $17.02 consensus target and Tuesday’s $14.81 close.


NeuroPace Inc. (NASDAQ: NPCE): Baird started coverage with an Outperform rating and a $26 price target. The consensus target is $28, and the last trade for Tuesday was reported at $19.85

Outset Medical Inc. (NYSE: OM): Cowen started coverage with an Outperform rating and a $70 price target. That compares with the lower consensus target of $61.83 and Tuesday’s final print of $38.57.

REE Automotive Ltd. (NYSE: REE): BTIG Research began coverage with a Buy rating and a $20 price target. No consensus target was available. The shares were last seen on Tuesday trading at $9.54.

Shenandoah Telecommunications Co. (NASDAQ: SHEN): B. Riley Securities upgraded the shares to Buy from Neutral and raised the target price to $41 from $34. The consensus target is $39.50. The last trade Tuesday was reported at $29.24.