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Monday Afternoon Analyst Upgrades and Downgrades: Amazon, Best Buy, Lordstown Motors, Nike and More

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The broad markets were largely mixed on Monday, after what was a tumultuous trading week last week. Investors are intently watching what is happening in Washington, D.C. Can Congress drum up the needed votes to fund the government past the end of the fiscal year, which is Thursday? Before that comes to a head, we can look forward to Federal Reserve Chair Powell and Treasury Secretary Yellen testifying before Congress on Tuesday.

24/7 Wall St. is reviewing some big analyst calls seen on Monday. 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 Alcoa, Chewy, ConocoPhillips, Peloton, Salesforce and more.

Amazon.com Inc. (NASDAQ: AMZN): Morgan Stanley reiterated an Overweight rating but cut the price target to $4,100 from $4,300. Shares were trading near $3,370 on Friday, and the consensus price target is $4,157.35.

American Water Works Co. Inc. (NYSE: AWK): BofA Securities downgraded the stock to Underperform from Neutral and has a $178 price target. The stock was trading at around $172 a share, and it has a consensus price target of $178.33.

Anthem Inc. (NYSE: ANTM): SVB Leerink initiated coverage with a Market Perform rating and a $403 price target. Shares were last seen trading around $387. They have a consensus price target of $437.50.

Bath & Body Works Inc. (NYSE: BBWI): Atlantic Equities upgraded it to an Overweight rating from Neutral, and the firm has an $82 price target. The shares have traded in a 52-week range of $24.47 to $69.47, while the current share price is around $68.

Best Buy Co. Inc. (NYSE: BBY): Piper Sandler reiterated an Overweight rating and raised the price target to $150 from $146. The consensus price target is $130.13, and the share price is near $110.

Comcast Corp. (NASDAQ: CMCSA): Exane BNP Paribas started coverage with an Outperform rating. Shares were last seen trading near $56 apiece. The consensus price target is $66.90.

Lordstown Motors Corp. (NASDAQ: RIDE): Goldman Sachs lowered its Neutral rating to Sell and has a $5 price target. The consensus price target is $6.00, and the share price is roughly $8.

Nike Inc. (NYSE: NIKE): Barclays reiterated an Overweight rating and cut the price target to $185 from $194. Shares were trading around $147, and the analysts’ consensus target is $184.83.

UnitedHealth Group Inc. (NYSE: UNH): SVB Leerink started coverage with an Outperform rating and a $480 price target. Shares were last seen trading near $407 apiece. The consensus price target is $461.86.


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Check out one top analyst’s take on Airbnb.

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