Thursday Afternoon Analyst Upgrades and Downgrades: Adobe, Chipotle, Ferrari, Lordstorn Motors and More
Thursday afternoon's analyst upgrades and downgrades included Adobe, Chipotle, Ferrari, Lordstorn Motors and More
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Markets turned lower on Thursday despite a solid session on Wednesday and relatively good jobless numbers from the weekly report. At the same time, stronger-than-expected retail sales were reported suggesting that consumer spending was still solid despite concerns regarding the Delta variant.
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. Note that analyst calls seen earlier in the day were on American Express, Avis, Cisco, Beyond Meat, DoorDash, and more.
Adobe Inc. (NASDAQ: ADBE | ADBE Price Prediction): BMO Capital Markets reiterated an Outperform rating and raised the price target to $730 from $630. Shares were last seen trading around $658, and in the past year they have traded as high as $673.88.
Chipotle Mexican Grill Inc. (NYSE: CMG): Piper Sandler reiterated an Overweight rating and raised the price target to $2,600 from $2,235. Shares were trading near $1,904, and the consensus price target is $1,871.82.
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Equinor ASA (NYSE: EQNR): Deutsche Bank downgraded to a Hold rating from Buy. Shares were trading around $24, and they have a consensus price target of $30.14.
Ferrari N.V. (NYSE: RACE): Exane BNP Paribas downgraded to a Neutral rating from Outperform. Shares were last seen trading near $219 apiece. The consensus price target is $230.01.
Lordstown Motors Corp. (NASDAQ: RIDE): BofA Securities downgraded to an Underperform rating from Neutral. The $6.86 consensus target is slightly above the current share price near $6.61.
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Unilever (NYSE: UN): Deutsche Bank downgraded to a Hold rating from Buy. The stock was last seen at around $54 a share, and it has a consensus price target of $64.00.
Four Jefferies top growth stock picks have outstanding upside potential and should hold up better into a brutal sell-off. The companies have posted solid results, have very strong business lines and have the ability to weather storms in the economy.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
