Investing

Monday Afternoon's Top Analyst Upgrades and Downgrades: Canopy Growth, Shake Shack, Tesla, Volkswagen and More

Stocks traded higher midday Monday, following through after all of the indexes posted record highs on Friday. The biggest news to start off the week that analysts and traders are digesting is the $1.2 trillion infrastructure spending bill that the House of Representatives passed and that will make its way to President Biden’s desk. After a very positive nonfarm payrolls report Friday, all eyes will be on the Producer Price Index report Tuesday and the Consumer Price Index report scheduled for Wednesday, as Wall Street nervously braces for bad inflation news.

24/7 Wall St. is reviewing some big analyst calls seen on Monday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.

Apogee Enterprises Inc. (NASDAQ: APOG): Zacks has named this as its Bear of the Day, citing that, despite a good history of beating the number, this stock has seen a slight move lower in earnings estimates. The shares traded above $48 apiece Monday morning but have a consensus price target of just $41.50.

AvalonBay Communities Inc. (NYSE: AVB): Morgan Stanley upgraded shares of the apartment real estate investment trust (REIT) giant to Overweight from Equal Weight, and the firm has a $265 price target. The stock has traded in a 52-week range of $154.84 to $241.63 and has a consensus price objective of $243.09.

Canopy Growth Inc. (NASDAQ: CGC): CIBC changed its rating on the marijuana stock to Sector Underperform from Neutral, while Canaccord Genuity slashed its cut on the stock to Sell from Hold. Over the past year, the shares have traded between $11.31 and $56.50, and they have a consensus price objective of $21.60.

Diodes Inc. (NASDAQ: DIOD): Zacks selected this as its Bull of the Day stock. This semiconductor company has performed well and estimates are moving higher, said the analyst. The consensus price target is $117.67, and shares were last seen trading near $110.

IHS Holdings Ltd. (NYSE: IHS): Goldman Sachs began coverage on the tower company’s stock with a Buy rating and a $29 price target, while Cowen coverage started it with an Outperform rating and a $27 target price. As the stock has a recent initial public offering and today is the first day for analysts coverage. Since the IPO, the stock has traded between $16.03 and $18.48.

3D Systems Corp. (NYSE: DDD): Lake Street started coverage with a Buy rating and a $36 price target. The shares have traded between $6.48 and $56.50 over the past year and have a $27.71 consensus price objective.

Pioneer Natural Resources Co. (NYSE: PXD): Citigroup resumed coverage of the Permian Basin energy giant with a Buy rating and a $216 price target. The shares have traded in a 52-week range of $84.22 to $196.64 and have a $221.94 consensus target price.

Shake Shack Inc. (NYSE: SHAK): Northcoast downgraded the popular fast-food chain to Neutral from Buy. The shares have traded in a wide 52-week range of $68.23 to $138.38 and have a consensus price target of $92.18.

Tesla Inc. (NASDAQ: TSLA): Jefferies reiterated its Buy rating on the electric vehicle giant and boosted the target price to $1,400 from $950. Over the past year, the stock has traded between $396.03 and $1243.49, and the consensus target price is $796.47.

Toll Brothers Inc. (NYSE: TOL): BofA Securities resumed coverage of the luxury homebuilder with a Buy rating and a $75 price target. The stock has traded in a 52-week range of $40.95 to $68.88 and has a consensus price objective of $70.68.

VMware Inc. (NYSE: VMW): Barclays resumed coverage with an Overweight rating and a $163 price target. The software giant has traded between $124.08 and $172 over the past year and has a consensus price target of $166.70.

Volkswagen (VWAGY): Jefferies downgraded the European car giant to Underperform from Buy. The over-the-counter-traded stock has a 52-week range of $17.63 to $48.72 and a consensus price objective of $34.49.


Note that analyst calls seen earlier in the day were on Cinemark, Krispy Kreme, McAfee, Peloton and more.

For growth and income investors looking for big dividend stocks that are still trading at reasonable levels, four outstanding blue chips offer solid entry points, come with reliable dividends and are Buy-rated by top analysts.

In addition, four well-known Buy-rated stocks have dividend hikes expected this week.