Investing
Tuesday Afternoon Analyst Upgrades and Downgrades: BP, JPMorgan, PepsiCo, Pinterest and More
January 4, 2022 11:55 am
Markets were somewhat mixed on Tuesday despite the Dow Jones industrials and S&P 500 hitting fresh all-time highs just after the open. Even though recent numbers from the ISM Manufacturing Index and the JOLTS jobs report failed to impress, the trading day is not done yet.
24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. 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 Broadcom, Coca-Cola, Pfizer, Synchrony, Tesla and more.
Bed Bath & Beyond Inc. (NASDAQ: BBBY): Telsey Advisory reiterated a Market Perform rating and cut the price target to $18 from $22. Shares were trading around $14 on Tuesday, and the consensus target price is $19.14.
BP PLC (NYSE: BP): Evercore ISI upgraded the stock to Outperform from In Line and has a $36 price target. The 52-week trading range is $20.43 to $30.29, and shares were last seen trading near $28.
First Solar Inc. (NASDAQ: FSLR): The Raymond James upgrade was to Market Perform from Underperform. The 52-week range is $67.71 to $123.13, and shares were trading near $87 apiece.
Foot Locker Inc. (NYSE: FL): JPMorgan’s downgrade to Underweight from Neutral included a price target cut to $42 from $60. Shares were trading around $43 on Tuesday, and the consensus target price is $65.29.
Haliburton Co. (NYSE: HAL): Morgan Stanley upgraded it to Overweight from Equal Weight and raised the $28 price target to $30. Shares were trading around $25 on Tuesday. The 52-week range is $17.23 to $26.75.
Hewlett Packard Enterprise Co. (NYSE: HPE): Barclays upgraded the shares to Overweight from Equal Weight and raised the $16 price target to $20. Shares were trading around $17 on Tuesday, and the consensus target price is $17.51.
Honeywell International Inc. (NASDAQ: HON): Credit Suisse lowered its Outperform rating to Neutral and cut the price target to $226 from $243. Shares were trading around $207 on Tuesday. The 52-week range is $194.55 to $236.86.
JPMorgan Chase & Co. (NYSE: JPM): Wolfe Research downgraded from Outperform to Peer Perform with a $185 price target. Shares were trading around $167 on Tuesday, and the 52-week trading range is $123.77 to $172.96.
PepsiCo Inc. (NASDAQ: PEP): Argus reiterated a Buy rating and raised the price target to $195 from $180. Shares were trading around $174 on Tuesday, and the 52-week trading range is $128.32 to $174.45.
Pinterest Inc. (NYSE: PINS): Guggenheim lowered its Buy rating to Neutral. Wolfe Research started coverage with a Peer Perform rating and a $45 price target. The 52-week trading range is $32.89 to $89.90, and shares were last seen trading near $33.
SunPower Corp. (NASDAQ: SPWR): Raymond James upgraded the stock to Outperform from Market Perform and has a $26 price target. Shares were trading around $21 on Tuesday, and the consensus target price is $26.58.
Biotechnology was a huge laggard last year, but Truist Securities has five top picks for 2022 that could see some sensational performance this year. Portfolio managers favor these inexpensive biotech leaders too.
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