Investing

Wednesday's Top Analysts Upgrades and Downgrades; Allstate, Booking, Five9, GE, Nucor, PayPal, Trade Desk, Zillow and More

First Bancorp Inc. (NYSE: FBP): Wells Fargo started coverage with an Overweight rating and a $16 price target. The consensus target is much higher at $27.17. Tuesday’s final trade was reported at $14.14.

Five9 Inc. (NASDAQ: FIVN): UBS upgraded the stock to Buy from Hold. Over the past year, the shares have traded in a wide range between $130.22 and $211.68, and they have a $200.68 consensus target. The stock closed on Tuesday at $166.27, which was up almost 15% on the day as earnings for the quarter crushed expectations.

General Electric Co. (NYSE: GE): Deutsche Bank raised its Hold rating on the venerable industrial giant to Buy from and lifted the target price up to $131 from $119. The consensus target is $119.76. The final trade for Tuesday was reported at $111.29, after an almost 3% gain for the day.

Globalfoundries Inc. (NASDAQ: GFS): Susquehanna started coverage with a Positive rating and an $85 price target. No consensus was available as the stock had a recent initial public offering. So far, the stock has traded between $44.48 and $66.00 a share. The last trade for Tuesday was posted at $59.83.

Gossamer Bio Inc. (NASDAQ: GOSS): Cantor Fitzgerald resumed coverage with an Overweight rating and a $20 price target. That compares with the $19.50 consensus target and Tuesday’s $13.10 final print.


Host Hotels & Resorts Inc. (NASDAQ: HST): Compass Point upgraded the stock from Hold to Buy with a $22 price target. The consensus target is $18.83. The shares closed on Tuesday at $18.33.

KE Holdings Inc. (NYSE: BEKE): JPMorgan’s upgrade to Overweight from Neutral included a price target hike to $30 from $21. The consensus target is $28.88, and the shares closed on Tuesday at $19.78, after over a 10% gain for the day despite mixed quarterly results.

Nucor Corp. (NYSE: NUE): Though Citigroup downgraded the steel giant to Neutral from Buy, it also raised the $105 price objective to $120. The consensus target is $108.82. The final trade for Tuesday was reported at $113.40.

PayPal Inc. (NASDAQ: PYPL): While Deutsche Bank reiterated its Buy rating on the stock, the firm also slashed the target price to $260 from $360. As many as 12 more firms across Wall Street followed suit, keeping Buy or Overweight ratings but seriously lowering price targets. The company posted results that were very disappointing, fiscal 2021 guidance was unexpectedly lowered and the preliminary 2022 outlook was well below what most analysts had modeled. The consensus price target is $323.91 for now but sure to fall. The closing print for Tuesday was an ugly $205.42, down almost 11% for the day.