Investing

Thursday Afternoon's Analyst Upgrades and Downgrades: Bumble, Carvana, Costco, Nordstrom, Silvergate Capital and More

Although the bond markets and banks are closed as a result of the Veteran’s Day holiday, the stock market is open and markets are up after two days of declines. Even though no major economic numbers are coming out today, investors are still digesting the Consumer Price Index (CPI) print from Wednesday that showed record inflation. Earnings seem more important than ever in this trading session.

24/7 Wall St. is reviewing some big analyst calls seen on Thursday. 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 Beyond Meat, Coinbase, Disney, Doordash, GE, GoPro, and more.

Bumble Inc. (NASDAQ: BMBL): Jefferies reiterated a Buy rating but cut the price target to $60 from $65. RBC Capital Markets reiterated an Outperform rating and cut the price target to $55 from $65. Wolfe Research reiterated a Peer Perform rating and cut the price target to $46 from $50. The consensus price target is $63.31, and shares were changing hands near $38 apiece.

Carvana Co. (NYSE: CVNA): Wolfe Research resumed coverage with a Peer Perform rating. Shares were trading around $286 on Thursday, in a 52-week range of $204.29 to $376.83.

Carlotz Inc. (NASDAQ: LOTZ): Barrington Research downgraded to a Market Perform rating from Outperform with a $6 price target. Shares were trading near $3.50 on Thursday, and the consensus target price is $7.50.

Costco Wholesale Corp. (NASDAQ: COST): Gordon Haskett upgraded to a Buy rating from Accumulate. The 52-week trading range is $307.00 to $520.21, and shares were last seen near $512.

Nordstrom, Inc. (NYSE: JWN): Gordon Haskett downgraded to a Hold rating from Buy. Shares were trading near $35, but the consensus target price is $33.88.

MP Materials Corp. (NYSE: MP): Jefferies initiated coverage with a Buy rating and a $55 price target. The Benchmark Company started coverage with a Hold rating. The 52-week range is $13.32 to $51.77, and the share price was near $42.

Schrodinger Inc. (NASDAQ: SDGR): BofA Securities downgraded to a Neutral rating from Buy and cut the price target to $52 from $80. Shares were trading around $44 on Thursday, and the consensus price target is $88.17.

Sprouts Farmers Market Inc. (NASDAQ: SFM): Gordon Haskett downgraded to a Reduce rating from Hold. Shares were trading near $24 on Thursday, and the consensus price target is $26.06.

Silvergate Capital Corp. (NYSE: SI): JPMorgan started with an Overweight rating and a $300 price target. The 52-week trading range is $26.54 to $230.58, and the share price was near $213.

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