Okta Inc. (NASDAQ: OKTA): Morgan Stanley’s upgrade to Overweight from Equal Weight included a target price hike to $315 from $275. The consensus target is $294.81. The stock closed on Monday at $241.46, which was down almost 5% on the day.
Poshmark Inc. (NASDAQ: POSH): Berenberg started coverage with a Buy rating and a $42 price target. The higher consensus target is $45.88, and Monday’s close was at $24.01 a share. The stock was up almost 4% in premarket trading.
Puma Biotechnology Inc. (NASDAQ: PBYI): Citigroup upgraded the shares from Neutral to Buy with an $11 price target. The consensus target is $8.63. The stock closed Monday at $7.12, which was up almost 5% for the day, and the shares added an additional 7% in premarket action.
Qualcomm Inc. (NASDAQ: QCOM): This 5G leader has strong growth ahead, despite missing the mark in an ADAS bidding war, says Zacks, which selected it as the Bull of the Day stock. Shares last closed at $133.48 and have a consensus price target of $183.16, which would be a multiyear high.
Sirius XM Holdings Inc. (NASDAQ: SIRI): Barclays raised the satellite radio giant to Equal Weight from Underweight and has a $6 price target. The consensus target is $7.59. The final trade for Monday was reported at $6.11 a share.
Wells Fargo & Co. (NYSE: WFC); Morgan Stanley downgraded the money center giant to Equal Weight from Overweight and lowered the price target to $46 from $49. The consensus price target is $50.31. The shares were last seen on Monday trading at $47.56.
While the quantitative easing soon will begin to dwindle, it is highly unlikely the Federal Reserve actually will raise interest rates until 2023, so buying blue-chip stocks with solid total return potential remains a prudent investment choice for the rest of 2021 and beyond.
Monday’s early top analyst upgrades and downgrades included Airbnb, Alcoa, Chewy, ConocoPhillips, Fortinet, Peloton Interactive, Salesforce.com and ServiceNow. More analyst calls were seen later in the day, including on Amazon.com, Best Buy, Comcast, Lordstown Motors and Nike.
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