Investing

Wednesday Afternoon's Analyst Upgrades and Downgrades: Chipotle, Comcast, IBM, Johnson & Johnson, Lyft and More

Markets shifted lower on Wednesday ahead of the Federal Reserve’s announcement regarding monetary policy. Many think that the Fed intends to raise rates, which could be detrimental to the tech industry. However, it’s yet to be seen what the Fed will do.

24/7 Wall St. is reviewing some big analyst calls seen on Wednesday. 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 eBay, GameStop, Nike, Novartis and more.

Advanced Micro Devices Inc. (NASDAQ: AMD): Deutsche Bank reiterated a Hold rating and raised the price target to $120 from $113. Shares were trading around $135 on Wednesday, and the consensus target price is $141.50.

Analog Devices Inc. (NASDAQ: ADI): Deutsche Bank reiterated a Hold rating and raised the price target to $200 from $190. Shares were last seen near $175 on Wednesday, and they have a 52-week range of $141.31 to $191.95.

Applied Materials Inc. (NASDAQ: AMAT): Deutsche Bank reiterated a Buy rating and raised the price target to $180 from $170. The consensus price target is $167.62, and shares were trading near $146 apiece.

Chipotle Mexican Grill Inc. (NYSE: CMG): Barclays reiterated an Equal Weight rating and raised the price target to $1,845 from $1,715. The 52-week trading range is $1,256.27 to $1,958.55, and shares were last seen near $1,675.

Comcast Corp. (NASDAQ: CMSCA): Citigroup lowered its Buy rating to Neutral and cut the $60 price target to $53. Shares were last seen near $48 on Wednesday, and they have a 52-week range of $46.29 to $61.80.

Comerica Inc. (NYSE: CMA): JPMorgan upgraded the stock to Neutral from Underweight and has a $95 price target. Shares were trading around $83 on Wednesday, and the 52-week range is $51.81 to $91.62.

Domino’s Pizza Inc. (NYSE: DPZ): Barclays downgraded to an Underweight rating from Equal Weight and cut the price target to $495 from $500. Shares were trading around $519 on Wednesday, and the consensus target price is $526.30.

Fate Therapeutics Inc. (NASDAQ: FATE): Wedbush upgraded it to Outperform from Neutral. Shares were trading around $50 on Wednesday, and the 52-week trading range is $43.60 to $121.16.

Grab Holdings Ltd. (NASDAQ: GRAB): Citigroup started coverage with a Buy rating and a $12 price target. Evercore ISI also started it at Outperform with a $10 price target. Shares were last seen near $7 on Wednesday, and they have a 52-week range of $5.91 to $18.11.

International Business Machines Corp. (NYSE: IBM): Stifel reiterated a Buy rating and cut the price target to $145 from $151. The consensus price target is $146.05, and shares were trading near $124 apiece.

Johnson & Johnson (NYSE: JNJ): Citigroup reiterated a Buy rating and raised the price target to $195 from $192. Shares were trading around $170 on Wednesday, and the consensus target price is $187.76.

Lyft Inc. (NASDAQ: LYFT): JPMorgan reiterated an Overweight rating and cut the price target to $67 from $72. Shares were trading around $38 on Wednesday, and the 52-week range is $37.37 to $68.28.

Oracle Corp. (NYSE: ORCL): DZ Bank’s upgrade was from Sell to Hold with a $105 price target. Shares were last seen near $102 on Wednesday, and they have a 52-week range of $59.74 to $106.34.

Roku Inc. (NASDAQ: ROKU): JPMorgan reiterated an Overweight rating and cut the price target to $315 from $435. Morgan Stanley reiterated an Underweight rating and slashed its $295 price target to $190. The 52-week trading range is $196.94 to $490.76, and shares were last seen near $205.

Six Flags Entertainment Corp. (NYSE: SIX): Goldman Sachs upgraded the shares to Buy from Neutral and raised the price target to $52 from $47. Shares were trading around $37 on Wednesday, and the consensus target price is $53.44.

Snap Inc. (NYSE: SNAP): JPMorgan reiterated an Overweight rating but cut the price target to $65 from $73. Shares were trading around $45 on Wednesday, and the 52-week trading range is $44.57 to $83.34.


The semiconductor team at Truist Securities feels there is still positive upside potential to current estimates. These four companies are true industry leaders and giants that have a tailwind for the future.