Investing

Friday Afternoon Analyst Upgrades and Downgrades: Dell, Gap, Peloton, Workday and More

The markets were up across the board midday Friday, approaching the end of a wild week that saw some big market swings. The attention Friday was focused on the commentary from the Jackson Hole Summit, where Federal Reserve Chair Powell said that he does support the tapering for the qualitative easing program to start later this year. During his speech, he was careful not to discuss when the Fed might formally announce the taper. Officials are divided about whether to announce it at their meeting on Sept. 20 and 21 or wait until November. In addition, some reasonably tame inflation numbers helped to push stocks higher.

24/7 Wall St. is reviewing some big analyst calls seen on Friday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that the morning’s early analyst calls were on AutoZone, Chesapeake Energy, Deckers Outdoor, Dollar Tree, HP, Lumber Liquidators Marvell Technology and more.

Blink Charging Co. (NASDAQ: BLNK): D.A. Davidson started coverage on the stock with a Neutral rating and a $31 price target. That compares with a consensus target of $42.75. The stock has traded in a 52-week range of $5.77 to $64.50.

Cars.com Inc. (NYSE: CARS): Truist Securities started coverage with a Buy rating and an $18 price target. The shares have traded in a 52-week range of $7.23 to $15.71 and have a $17.86 consensus target price.

Dell Technologies Inc. (NYSE: DELL): Morgan Stanley reiterated its Overweight rating and lifted the $130 price target to $133. Citigroup also reiterated its Buy rating and boosted the target price to $130 from $120. Over the past year, the shares have traded between $58.88 and $104.62, and they have a consensus price target of $115.61.

Farfetch Ltd. (NYSE: FTCH): Wells Fargo raised its Equal Weight rating to Overweight and also boosted the target price to $55 from $45. The consensus target is up at $62.60. The stock has traded in a 52-week range of $22.41 to $73.87.

Gap Inc. (NYSE: GPS): Deutsche Bank reiterated a Buy rating on the popular retailer and lifted the target price to $45 from $42. The stock has traded in a 52-week range of $15.76 to $37.63 and has a $36.578 consensus price objective.

Ollie’s Bargain Outlet Holdings Inc. (NASDAQ: OLLI): Wells Fargo upgraded the stock to Equal Weight from Underweight and has a $70 price target. That compares with the much higher $97.17 consensus. The shares have traded in a 52-week range of $65.23 to $123.52.

Peloton Interactive Inc. (NASDAQ: PTON): BofA Securities raised the stock to Buy from Neutral and lifted the price target to $138 from $135, while Credit Suisse reiterated its Outperform rating but lowered the price target to $148 from $151. The stock has traded in a wide 52-week range of $72.11 to $171.09 and has a consensus target price of $134.12.

Workday Inc. (NASDAQ: WDAY): Barclay’s reiterated the firm’s Overweight rating and lifted the price target to $309 from $282. Piper Sandler also reiterated an Overweight rating, and it boosted the target price from $285 to $285. Over the past year, the shares have traded between $195.81 and $272.77.


Alcoholic beverage stocks

are very cheap on a historical basis and are offering some incredible entry points. Four of them look like solid plays for investors concerned about lofty valuations and the potential for some market volatility going forward.

Also see what meme stocks were on the move Friday morning, as well as what analysts had to say about Peloton’s earnings report.