Investing

Tuesday Afternoon Analyst Upgrades and Downgrades: Livent, Penn National, Toyota and More

The markets edged higher by midday Tuesday, but traders were still combating inflation and a weak jobs number from the previous week. What’s in the purview now is impending big bank earnings kicking off the earnings season and setting its tone. Historically, September has been weak but October is usually the pick-me-up. The question now is what earnings have to say and if analysts agree.

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 Airbnb, DraftKings, MGM Resorts, Nike, Square and more.

BeiGene Ltd. (NASDAQ: BGNE): Bernstein initiated coverage with an Outperform rating and a $431 price target. Shares were trading near $365 on Tuesday, and the analysts’ consensus target is $403.15.

Callaway Golf Co. (NYSE: ELY): Compass Point upgraded the stock to a Buy rating from Neutral and has a $33 price target. The 52-week trading range is $14.62 to $37.75, and the share price is near $27.

Livent Corp. (NYSE: LTHM): Citigroup’s upgrade to Buy from Neutral included a price target hike to $28 from $25. Shares were last seen trading around $25. They have a consensus price target of $24.95.

Penn National Gaming Inc. (NASDAQ: PENN): Roth Capital started coverage with a Buy rating and a $107 price target. The consensus price target is $104.92, and the share price is roughly $74.

Toyota Motor Corp. (NYSE: TM): Morgan Stanley started coverage with an Overweight rating. Shares were last seen near $177 apiece. The consensus price target is $227.07.

Viridian Therapeutics Inc. (NASDAQ: VRDN): Evercore ISI initiated coverage with an Outperform rating and a $40 price target. Shares were trading near $16 on Tuesday, and the consensus price target is $35.33.


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