Tuesday's Top Analyst Upgrades and Downgrades: Bilibili, Carvana, Crocs, GameStop, Goldman Sachs, Nike and More

Investing

Published: December 28, 2021 8:51 am

Last Updated: December 29, 2021 11:23 am

The futures traded higher Tuesday after investors started off the final trading week of 2021 with a continuation of the Santa Claus rally that kicked off last week. All the major indexes closed higher Monday, and once again the S&P 500 hit a fresh all-time high. Analysts cited the potential for a smaller Build Back Better social spending and climate package as a positive. Buyers returned to the Treasury market as longer maturities, as the 10-year note and 30-year bond saw yields decline. Trading and volumes likely will stay muted this week, as many across Wall Street extend their holiday.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding fresh ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Tuesday, December 28, 2021.

BellRing Brands Inc. (NYSE: BRBR): Goldman Sachs maintained a Buy rating on the stock and has a $41 price target. The analyst noted the company’s strong finish to the year. The consensus target price is $31.67, and shares were last seen on Monday at $27.75.

Bilibili Inc. (NASDAQ: BILI): Benchmark started coverage with a Buy rating and an $86 price target. The consensus target is $105.67. The shares pulled back almost 3% on Monday to close at $44.59 a share.

BridgeBio Pharma Inc. (NASDAQ: BBIO): SVB Leerink reiterated an Outperform rating but cut the target price to $24 from $66, while Mizuho kept a Buy rating but slashed its $86 target price to $25. The posted consensus target is $81.20 but will tumble soon. The stock closed Monday at $11.53, down a stunning 70% after it said clinical trials for ATTR-CM did not meet the primary endpoints.

Carvana Co. (NYSE: CVNA): Baird lowered its $350 price target to $300 but kept an Outperform rating on the shares. The consensus target is $373.78. The stock closed Monday at $231.47, which was down almost 4% for the day.

Cerence Inc. (NASDAQ: CRNC): Raymond James reiterated an Outperform rating and has a $100 price target, after the company announced the closing of a big European OEM contract. The consensus target is even higher at $119.42. The closing share price on Monday was $79.58.