Thursday's Top Analyst Upgrades and Downgrades: Applied Materials, Bloom Energy, Corning, MetLife, PayPal, Plug Power, Shopify, Spotify, Texas Instruments and More

Plug Power Inc. (NASDAQ: PLUG): Susquehanna started coverage with a Positive rating and a $26 price target. The consensus target is a stunning $47.51. The last trade on Wednesday came in at $19.47.

ServiceNow Inc. (NYSE: NOW): Piper Sandler upgraded the shares to Overweight from Neutral and have a $650 target price. The consensus price objective is up at $705.48. The shares were last seen Wednesday at $484.42 but were up over 10% in the premarket after earnings and revenue topped expectations.

Shopify Inc. (NYSE: SHOP): The earnings slowdown seems well discounted, and after the forced selling, this one could be ready to turn, says Zacks, which named the e-commerce stock as its Bear of the Day. However, SMBC Nikko started coverage with an Outperform rating and a $1,200 target price. The stock has traded as high as $1,762.92 per share in the past year but closed most recently at $868.92.

Spotify Technology S.A. (NYSE: SPOT): Monness Crespi & Hardt kept a Buy rating on the shares but slashed the $380 target price to $240. The consensus target is $310.63. Wednesday’s closing share price of $174.79 was down over 5% for the day.

Texas Instruments Inc. (NASDAQ: TXN): JPMorgan reiterated its Overweight rating on the venerable semiconductor giant and bumped the target price to $225 from $220. Truist Securities kept a Hold rating and trimmed the target price to $206 from $208. UBS has a Neutral rating and lowered its $190 target price to $180. The consensus target is $203.25, and the shares closed Wednesday at $178.33, up close to 3% after the company posted very strong fourth-quarter results.

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Wednesday’s early top analyst upgrades and downgrades included Confluent, DraftKings, Fastly, Halliburton, Moderna, Netflix, Southern Company, Splunk, Taiwan Semiconductor, Twilio, ViacomCBS, VMware, Xcel Energy and ZScaler. Analyst calls seen later in the day were on American Express, Meta Platforms, Microsoft, Verizon Communications and more.

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