Investing

Wednesday Afternoon Analyst Upgrades and Downgrades: Monster Beverage, Signet Jewelers, Skyworks, Wayfair and More

Markets were somewhat mixed on Wednesday, but the Nasdaq was the top dog as tech stocks were leading the charge higher. The Dow Jones lagged the rest of the major averages. Inflation concerns are still a large factor in the direction of the markets but with earnings season incoming investors may be more focused on third quarter profits.

24/7 Wall St. is reviewing some big analyst calls seen on Wednesday. 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 Constellation Brands, Plug Power, Workday and more.

Berkeley Lights, Inc. (NASDAQ: BLI): Berenberg initiated coverage with a Buy rating and a $42 price target. Shares were trading near $22 on Tuesday, and the analysts’ consensus target is $73.00.

DuPont de Nemours, Inc. (NYSE: DD): Mizuho started with a Buy rating and a $94 price target. The 52-week trading range is $55.23 to $87.27, and the share price is near $70.

Monster Beverage Corp. (NASDAQ: MNST): Jefferies downgraded to a Hold rating from Buy and cut the price target to $92 from $113. Shares were last seen trading around $85. They have a consensus price target of $106.55.

Signet Jewelers Ltd. (NYSE: SIG): BofA Securities upgraded to a Neutral rating from Underperform and raised the price target to $88 from $82. The 52 week range is $20.88 to $88.83, and the share price is roughly $84.

Skyworks Solutions, Inc. (NASDAQ: SWKS): Robert Baird downgraded to a Neutral rating from Outperform and cut the price target to $165 from $220. Shares were last seen near $155 apiece. The consensus price target is $212.36.

Wayfair Inc. (NYSE: W): Jefferies downgraded to a Hold rating from Buy and cut the price target to $225 from $330. Shares were trading near $234 on Tuesday, and the consensus price target is $323.17.

Five dividend-paying sin stocks look like outstanding values now and may be just the ticket for worried investors not bothered by these industries. The stocks are all rated Buy and should hold up well in a swift sell-off and in a protracted bear market.

Wednesday’s early meme stock movers included Camber Energy, ESS and Vinco Ventures.