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Wednesday Afternoon Analyst Upgrades and Downgrades: AMD, Capital One, Robinhood, Microsoft, Twitter and More
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The broad markets pulled back from record levels on Wednesday afternoon. However, the Nasdaq was fairly higher on the day as a slew of strong-than-expected tech earnings have been driving the index. Oil prices pulled back but still remain within striking distance of all-time highs. Analysts seemed fairly sanguine on earnings after the fact.
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 Alphabet, Cloudflare, DraftKings, Microsoft, UPS and more.
Advanced Micro Devices, Inc. (NASDAQ: AMD): Citigroup reiterated a Neutral rating but raised the price target to $125 from $100. JPMorgan reiterated a Neutral rating and raised the price target to $135 from $105. BofA Securities reiterated a Buy rating and raised the price target to $150 from $135. Raymond James reiterated an Outperform rating with a $140 price target and a $110 price target. Wells Fargo reiterated an Overweight rating and raised the price target to $145 from $120. The 52-week range is $72.50 to $128.08, and the share price is roughly $122.26.
Capital One Financial Corp. (NYSE: COF): Morgan Stanley reiterated an Overweight rating and raised the price target to $214 from $212. Barclays reiterated an Overweight rating and raised the price target to $205 from $197. BofA Securities reiterated a Buy rating and cut the price target to $186 from $190. Shares were trading near $153 on Wednesday, and the consensus price target is $186.48.
Corning Inc. (NYSE: GLW): Morgan Stanley reiterated an Equal-Weight rating but cut the price target to $40 from $42. Barclays reiterated an Overweight rating and cut the price target to $47 from $52. BofA Securities reiterated a Buy rating and cut the price target to $48 from $51. Shares were trading near $35 on Wednesday, and the consensus target price is $47.08.
Robinhood Markets, Inc. (NASDAQ: HOOD): Barclays reiterated an Equal Weight rating but cut the price target to $42 from $50. Deutsche Bank reiterated a Hold rating but cut the price target to $40 from $42. Goldman Sachs reiterated a Neutral rating and cut the price target to $42 from $56. The 52-week trading range is $33.25 to $85.00, and the share price is near $35.
Microsoft Corp. (NASDAQ: MSFT): Goldman Sachs reiterated a Buy rating and raised the price target to $400 from $360. Barclays reiterated an Overweight rating and raised the price target to $363 from $345. BofA Securities reiterated a Buy rating and raised the price target to $365 from $340. Shares were trading around $324, above the consensus price target of $339.26.
Twitter Inc. (NYSE: TWTR): JPMorgan reiterated an Overweight rating but cut the price target to $86 from $90. BofA Securities reiterated a Buy rating and cut the price target to $79 from $82. Canaccord Genuity reiterated a Hold rating but cut the price target to $72 from $78. Jefferies reiterated a Hold rating and cut the price target to $70 from $80. Shares were trading around $55, in a 52-week range of $38.93 to $80.75.
Texas Instruments Inc. (NASDAQ: TXN): Morgan Stanley reiterated an Underweight rating and raised the price target to $195 from $193. KeyBanc Capital Markets reiterated an Overweight rating and cut the price target to $240 from $250. Truist reiterated a Hold rating and raised the price target to $208 from $200. Shares were trading near $188 on Wednesday, and the analysts’ consensus target price is $204.76.
Visa Inc. (NYSE: V): Morgan Stanley reiterated an Overweight rating and cut the price target to $280 from $282. RBC Capital Markets reiterated an Outperform rating and cut the price target to $284 from $297. Raymond James reiterated an Outperform rating and cut the price target to $263 from $286. The 52-week trading range is $179.23 to $252.67, and the share price is near $278.89.
Five top stocks have among the highest median returns during periods of stagflation. They are very good ideas for nervous investors, as they should be able to ride out periods of volatility and the inevitable large sell-off.
Cathie Wood’s ARK Invest is still shedding Tesla stock, and Russia turns up the heat on Apple.
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