Tech companies felt the sting Monday as Facebook’s outage not only inflicted serious damage to the social media giant but the tech sector at large. However, markets bounced back on Tuesday after this rough start. Again investors are still battling concerns over inflation and the strain on global supply chains, but on Tuesday investors can breathe easier, for now.
24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. We have included the latest 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 Lordstown Motors, Nike, Tesla, Under Armour and more.
Estee Lauder Companies Inc. (NYSE: EL): BofA Securities resumed coverage with a Buy rating and a $345 price target. Shares were trading at around $311, and the analysts’ consensus target is $366.40.
Facebook Inc. (NASDAQ: FB): DZ Bank downgraded to the stock a Hold rating from Buy and has a $350 price target. Shares were trading near $330 on Tuesday, and the consensus price target is $417.62.
Honda Motor Co. Ltd. (NYSE: HMC): JPMorgan lowered its Overweight rating to a Neutral. Shares were last seen trading around $30. They have a consensus price target of $38.70.
Paychex Inc. (NASDAQ: PAYX): Citigroup downgraded it to a Neutral rating from Buy but raised the price target to $125 from $121. The shares have traded in a 52-week range of $79.07 to $118.22, while the current share price is near $115.
Ping Identity Holding Corp. (NYSE: PING): Wells Fargo initiated coverage with an Overweight rating and a $32 price target. The consensus price target is $32.50, and the share price is roughly $24.
Stitch Fix Inc. (NASDAQ: SFIX): Wedbush started coverage with a Neutral rating and a $45 price target. The 52-week range is $27.92 to $113.76, and the share price is near $39.
Skechers USA Inc. (NYSE: SKX): Wedbush initiated coverage with a Neutral rating and a $43 price target. Shares were last seen trading near $42 apiece. The consensus price target is $64.13.
BofA Securities has revealed its top ideas for the fourth quarter of 2021. They include great picks, such as General Electric and Uber, along with a couple of potential short sale ideas.
Meme stocks on the move early Tuesday included ContextLogic and Lordstown Motors. And see how much more Tesla stock Cathie Wood’s ARK Invest has dumped.
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