Thursday Afternoon Analyst Upgrades and Downgrades: CarGurus, Marathon Petroleum, Yum Brands and More
Thursday afternoon's analyst upgrades and downgrades included CarGurus, Coupang, Marathon Petroleum, Pentair and Yum! Brands.
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The indexes all traded lower approaching the midday point on Thursday, after posting yet another round of new all-time highs on Wednesday. A degree of buying exhaustion, coupled with the unknown commentary that may emerge from the video conferencing Jackson Hole summit, is touted as part of the reason for the reversal. This comes despite the fact that U.S. gross domestic product growth was reported at an annualized and seasonally adjusted rate of 6.6% in the second quarter, a slightly faster pace than initially thought.
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. Analyst calls seen early in the morning included Dick’s Sporting Goods, Kimberly-Clark, Nordstrom and more.
Brown-Forman Corp. (NYSE: BF-B | BF-B Price Prediction): UBS upgraded the spirits giant’s stock to Neutral from Sell and raised the price target to $70 from $65. The stock has traded in a 52-week range of $67.74 to $83.40 and has a consensus price objective of $71.39.
CarGurus Inc. (NASDAQ: CARG): RBC Capital Markets raised the stock to Outperform from Sector Perform and lifted the price target to $40 from $34. That compares with a $36.42 consensus target. The shares have traded in a 52-week range of $19.24 to $36.54.
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Coupang Inc. (NASDAQ: CPNG): Daiwas Securities raised the stock to Buy from Outperform. The shares have traded in a wide 52-week range of $30.18 to $69.00 and have a $45.78 consensus price objective.
Delek US Holdings Inc. (NYSE: DK): Citigroup downgraded the shares to Sell from Neutral and slashed the price target to $8 from $25. The consensus target for the refiner is set at $23.46. Over the past year, the stock has traded between $8.92 and $27.39.
Doximity Inc. (NYSE: DOCS): JPMorgan lowered its Overweight rating to Neutral and has a $70 price target. The firm cited the huge run the stock has made since the recent IPO. The shares have traded between $41.17 and $95.97 since then and have a $61 consensus price target.
Marathon Petroleum Corp. (NYSE: MPC): Though Citigroup raised the stock to Buy from Neutral, it also lowered the price target slightly to $67 from $70. The consensus target is $69.64. The stock has traded between $26.56 and $64.84 over the past 52 weeks.
Pentair PLC (NYSE: PNR): JPMorgan downgraded the stock to Underweight from Overweight and has a $65 price target. The consensus target for the stock is up at $79.20. The stock has traded in a 52-week range of $43.20 to $80.40.
Restaurant Brands International Inc. (NYSE: QSR): Oppenheimer raised the stock from Perform to Outperform with an $80 price target. The consensus target is lower at $70.50. Over the past year, the stock has traded between $51.12 and $71.12.
Ventas Inc. (NYSE: VTR): BMO Capital Markets raised the shares to Market Perform from Underperform and has a $60 price target. The stock has traded in a 52-week range of $37.83 to $61.09 and has a $61.21 consensus price objective.
Yum! Brands Inc. (NYSE: YUM): Oppenheimer downgraded the restaurant giant to Perform from Outperform. The shares have traded in a 52-week range of $88.08 and $135.27 and have a consensus target price of $134.04. Trading the stock is just shy of the 52-week high, this appears to be a valuation call.
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Many top oil stocks have pulled back and are offering investors looking for energy exposure some outstanding entry points. Four Goldman Sachs picks could be poised to have a big end of the year and a very strong 2022.
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Lee Jackson has covered Wall Street analysts' equity and debt research and equity strategy daily for 24/7 Wall St. since 2012. His broad, diverse career, including a stint as creative services director at an NBC affiliate in Austin, Texas, gives him unique insight into the financial industry.
Lee Jackson's journey in the financial industry spans more than 30 years, including nearly two decades as an institutional equity salesperson at Bear Stearns, Lehman Brothers, and Morgan Stanley. His career spanned pivotal sell-side Wall Street events, from the dot-com rise and bubble to the Long-Term Capital Management debacle, 9/11, and the Great Recession of 2008. This reflects his resilience and adaptability amid market volatility.
Lee Jackson’s practical financial industry experience, gained through a career at some of the biggest banks and brokerage firms, is complemented by a lifetime of writing across various platforms. This unique combination allows him to shed light on the intricacies of Wall Street in a way only someone with deep insider experience and knowledge can. Moreover, his extensive network across Wall Street continues to provide direct access for him and 24/7 Wall St., a privilege few firms enjoy.
Since 2012, Jackson’s work for 24/7 Wall St. has been featured in Barron’s, Yahoo Finance, MarketWatch, Business Insider, TradingView, Real Money, The Street, Seeking Alpha, Benzinga, and other media outlets. He attended the prestigious Cranbrook Schools in Bloomfield Hills, Michigan, and has a degree in broadcasting from the Specs Howard School of Media Arts.
