Monday Afternoon Analyst Upgrades and Downgrades: DraftKings, Taiwan Semiconductor and More
Monday afternoon's analyst upgrades and downgrades included BigCommerce, Charter Communications, DraftKings, and Taiwan Semiconductor.
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The Dow Jones industrials, Nasdaq and S&P 500 each pushed higher to start out the week. At the same time, crude oil shot up above $82 a barrel and the 10-year U.S. Treasury yield reached its highest level since June. Even cryptocurrency in general saw some handy gains, specifically Bitcoin jumping 4%. A rising tide lifts all ships, and that seems to be how this week is starting out. It is yet to be seen if markets can keep this up.
24/7 Wall St. is reviewing some big analyst calls seen on Monday. 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 ConocoPhillips, Eli Lilly, Exxon Mobil, Starbucks and more.
BigCommerce Holdings Inc. (NASDAQ: BIGC | CHTR Price Prediction): Stifel resumed coverage with a Buy rating and a $75 price target. Shares were trading near $51 on Monday, and the analysts’ consensus target is $74.09.
Charter Communications Inc. (NASDAQ: CHTR): Raymond James downgraded the stock to Market Perform from Outperform. The 52-week trading range is $572.46 to $825.62, and the share price is near $702.
DraftKings Inc. (NASDAQ: DKNG): Citigroup started coverage with a Buy rating and a $66 price target. Shares were last seen trading around $50. They have a consensus price target of $71.52.
Genius Sports Ltd. (NYSE: GENI): UBS started coverage with a Neutral rating and an $18 price target. At the same time, Citigroup started it with a Buy rating and a $22 price target. The consensus price target is $30.71, and the share price is roughly $18.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM): Cowen started coverage with a Market Perform rating and a $120 price target. Shares were last seen near $111 apiece. The consensus price target is $143.82.
TravelCenters of America Inc. (NASDAQ: TA): BMO Capital Markets lowered its Outperform rating to Market Perform with a $60 price target. Shares were trading near $52 on Wednesday, and the consensus price target is $51.55.
Turning Point Therapeutics Inc. (NASDAQ: TPTX): The JMP Securities downgrade was to Market Perform from Outperform. The shares have traded in a 52-week range of $42.51 to $141.30, while the current share price is near $138.00.
The top large-cap financials likely will post some very solid third-quarter numbers this week. Four stocks look very attractive for growth investors with a longer timeframe, and they can be bought in front of the reports.
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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.
