Investing

Tuesday Afternoon Analyst Upgrades and Downgrades: Livent, Royal Dutch Shell, SmileDirectClub, Tencent Music and More

Markets were catching the breath on Tuesday after the S&P 500 made a record run up over the past week. All three of the big U.S. indexes were fractionally lower in the late morning, despite the stronger-than-expected earnings, a very positive October employment report and the recent passing of the infrastructure bill.

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, Canopy Growth, DraftKings, Fisker, Moderna and more.

Fate Therapeutics Inc. (NASDAQ: FATE): Citigroup upgraded the stock to a Buy rating from Neutral but cut the price target to $87 from $94. Shares were trading around $64 on Tuesday, in a 52-week range of $48.05 to $121.16.

J.M. Smucker Co. (NYSE: SJM): Guggenheim upgraded it to Buy from Neutral and raised its $136 price target to $146. The consensus price target is $124.64, and shares were changing hands below $128 apiece.

Livent Corp. (NYSE: LTHM): Citigroup’s downgrade was to Neutral from Buy. Shares were trading near $31 on Tuesday, and the consensus target price is $28.08.

Old Dominion Freight Line Inc. (NASDAQ: ODFL): Morgan Stanley downgraded it to an Equal Weight rating from Overweight and has a $330 price target. Shares were trading near $352, but the consensus target price is $317.48.

RealReal Inc. (NASDAQ: REAL): BTIG upgraded the stock to Buy from Neutral and has a $21 price target. Shares were trading around $16 on Tuesday, and the consensus price target is $21.80.

Royal Dutch Shell PLC (NYSE: RDS-A): HSBC Securities lifted its Hold rating to Buy and has a $51.70 price target. Shares were trading near $45 on Tuesday, and the consensus price target is $58.85.

SmileDirectClub Inc. (NASDAQ: SDC): Craig Hallum’s downgrade to Sell from Hold included a price target cut to $3 from $8. The 52-week trading range is $3.92 to $16.08, and the share price was near $4.

Tencent Music Entertainment Group (NYSE: TME): Citigroup’s downgrade was from Buy to Neutral. The 52-week range is $6.82 to $32.25, and shares were trading near $8.

Vulcan Materials Co. (NYSE: VMC): Argus upgraded the shares from Hold to Buy with a $240 price target. The 52-week range is $134.53 to $210.20, and the share price was near $205.


These five top industrial companies all pay dependable dividends and look to be involved heavily when the new infrastructure funds are deployed. They look like solid ideas for growth investors looking to cash in on what could be a very profitable scenario.

Monday’s meme stock movers included Coinbase and Tilray. And is General Electric becoming a meme stock (or three)?