Investing

Tuesday's Top Analyst Upgrades and Downgrades: Amgen, Cirrus Logic, Johnson & Johnson, Lam Research, Merck, Spotify and Vertex Pharma

Johnson & Johnson (NYSE: JNJ): Morgan Stanley lowered its Overweight rating to Equal Weight with a $187 price target. The $189.61 consensus target is above Friday’s close at $175.04.

Lam Research Corp. (NASDAQ: LRCX): Exane BNP Paribas lowered its Outperform rating to Neutral with a $640 price target. Shares most recently closed at $610.71 and have a consensus price target of 742.52.

Marathon Petroleum Corp. (NYSE: MPC): Morgan Stanley initiated coverage with an Overweight rating and a $75 price target. Shares last closed at $58.24, and the consensus target price is $69.43.

McAfee Corp. (NASDAQ: MCFE): UBS downgraded it to Neutral from Buy but raised the price target to $29 from $27. The shares last closed at $27.72, and the consensus price target is $29.43.

Merck & Co. Inc. (NYSE: MRK): Morgan Stanley’s downgrade to Equal Weight from Overweight came with an $85 price target. Shares last closed at $77.26, but they have traded as high as $82.35 in the past year.

Overstock.com Inc. (NASDAQ: OSTK): BofA Securities resumed coverage with a Buy rating and an $89 price target. Shares closed most recently at $69.51 apiece and have a consensus price target of $124.50.

Phillips 66 (NYSE: PSX): Morgan Stanley started coverage with an Equal Weight rating and an $80 price target. The shares most recently closed at $69.62 and have a consensus price target of $91.36.

ScanSource Inc. (NASDAQ: SCSC): Zacks named this as its Bull of the Day stock. The analyst says that that earnings growth has been the key to this stock’s meteoric rise. Shares last closed at $37.56, and the consensus price target is $39.33.

Spotify Technology S.A. (NYSE: SPOT): KeyBanc Capital Markets lifted its Sector Weight rating to Overweight and has a $340 price target. Shares last closed at $249.04, and the consensus price target is $261.59.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX): Morgan Stanley downgraded it to Underweight from Equal Weight and has a $202 price target. The shares most recently closed at $198.05 and have a consensus price target of $260.00.


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Friday’s early top analyst upgrades and downgrades included Aurora Cannabis, Broadcom, Clorox, Cintas, DocuSign, NXP Semiconductors and Paycom. More analyst calls were seen later in the day, including on Baxter International, Ingersoll Rand and Walgreens Boots Alliance.

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