Investing

Wednesday Afternoon Analyst Upgrades and Downgrades: Altria, BP, Peloton, Pfizer and More

Markets pulled back on Wednesday despite very solid numbers from the ADP jobs report. The 807,000 in private payrolls added for the month of December completely blew out the consensus estimate of 410,000 job gains. Although the economy is clearly on the road to recovery, big tech needs to get its act together on Wednesday.

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 Chevron, GE, Intel, Sirius XM, Under Armour and more.

Acadia Pharmaceuticals Inc. (NASDAQ: ACAD): Citigroup upgraded the stock to Buy from Neutral and has a $30 price target. Shares were trading around $24 on Wednesday, and the consensus target price is $28.89.

Adobe Inc. (NASDAQ: ADBE): The UBS downgrade to Neutral from Buy included a price target cut to $575 from $635. The 52-week trading range is $420.78 to $699.54, and shares were last seen trading near $537.

Altria Group Inc. (NYSE: MO): BofA Securities lowered its Buy rating to Neutral and cut the price target to $50 from $56. The 52-week range is $40.46 to $52.59, and shares were trading near $49 apiece.

American Tower Corp. (NYSE: AMT): JPMorgan downgraded the shares to Underweight from Neutral, and it cut the $285 price target to $271. Shares were trading around $268 on Wednesday, and the consensus target price is $304.40.

American Water Works Co. Inc. (NYSE: AWK): UBS’s downgrade to Sell from Neutral came with a price target cut to $176 from $185. Shares were trading around $179 on Wednesday. The 52-week range is $131.01 to $189.65.

Amgen Inc. (NASDAQ: AMGN): BofA Securities downgraded it to Neutral from Buy and lowered the $285 price target to $255. The 52-week range is $198.64 to $276.69, and shares were trading near $226 apiece.

Beyond Meat Inc. (NASDAQ: BYND): BofA Securities resumed coverage with an Underperform rating and cut the $70 price target to $55. Shares were trading around $64 on Wednesday. The 52-week range is $60.42 to $221.00.

BP PLC (NYSE: BP): Wells Fargo downgraded the stock to Underweight from Overweight. Shares were trading around $29 on Wednesday, and the consensus target price is $35.05.

Chesapeake Energy Corp. (NASDAQ: CHK): Wells Fargo’s upgrade was from Equal Weight to Overweight with an $84 price target. Shares were trading around $68 on Wednesday, and the 52-week trading range is $40.00 to $69.46.

Domino’s Pizza Inc. (NYSE: DPZ): Stephens downgraded the shares to Underweight from Equal Weight and has a $500 price target. The 52-week trading range is $319.71 to $567.57, and shares were last seen trading near $528.

Equifax Inc. (NYSE: EFX): Morgan Stanley raised its Equal Weight rating to Overweight with a $325 price target. Shares were trading around $287 on Wednesday, and the consensus target price is $296.94.