Tuesday's Top Analyst Upgrades and Downgrades: Bloomin' Brands, Bumble, Goldman Sachs, Juniper Networks, Merck, Moderna, Spirit Airlines, Wells Fargo and More

Petco Health and Wellness Co. Inc. (NASDAQ: WOOF): Wedbush raised its Neutral rating to Outperform with a $23 price target. The consensus target is $25.70. The shares closed Monday at $19.46, after a pop of almost 6% for the day.

Shockwave Medical Inc. (NASDAQ: SWAV): Wells Fargo’s upgrade was from Equal Weight to Overweight with a $235 target price. That compares with a $246.80 consensus target and Monday’s closing share price of $177.40, which was up almost 8% on the day.

Southern Company (NYSE: SO): Mizuho upgraded the utility leader to Neutral from Underperform and lifted the $55 price target to $60. The consensus target is $66.74. The stock closed at $64.66, after rising almost 3% on Monday.

Spirit Airlines Inc. (NYSE: SAVE): Evercore ISI upgraded the low-cost carrier to Outperform from In Line. Over the past 52 weeks, the stock has traded between $19.52 and $40.77, and it has a consensus price target of $32.70. The shares closed Monday at $22.80, up over 6% for the day.

Steven Madden Ltd. (NASDAQ: SHOO): Piper Sandler raised its Neutral rating on the very popular shoe and accessories retailer to Overweight. It also bumped the price target to $56 from $54. That compares with a $55.70 consensus target and Monday’s closing price of $47.76 per share.

SVB Financial Group (NASDAQ: SIVB): Morgan Stanley upgraded the stock to Overweight from Equal Weight and has a $985 price target. The consensus is just $821.29. The shares were last seen on Monday at $693.39.

Wells Fargo & Co. (NYSE: WFC): Morgan Stanley upgraded the shares to Overweight from Equal Weight and has a $61 price objective. The consensus target is $51.96. The stock closed at $48.81 on Monday.

As tax-loss selling season arrives, five stocks may be some of the best bargains for investors looking to reset portfolios for 2022. They are Buy-rated large-cap names with very strong positions in their respective sectors.

Monday’s early top analyst upgrades and downgrades included Amgen, Apple, AT&T, Chevron, Dollar General, Fastly, Ford, Hertz, Kroger, Marvell Technology, Peloton Interactive,, Stitch Fix and Twitter. Analyst calls seen later in the day were on American Airlines, Citigroup, Meta and more.

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