Investing

Tuesday Afternoon's Top Analyst Upgrades and Downgrades: Coupa Software, Ginkgo Bioworks, Enterprise Products Partners, Intuit and More

Stocks traded modestly lower early Tuesday afternoon. The back-to-back 3% moves higher on Monday and last Friday are being attributed to everything from the massive oversold conditions to portfolio managers making month-end portfolio moves. Despite the strong two-day rally, the venerable S&P 500 saw the largest monthly decline since the high-velocity sell-off in March of 2020.

Wall Street strategists will be closely watching the OPEC meeting scheduled for tomorrow, and while it is expected they will ramp up production somewhat, many of the largest firms we cover still see the path of least resistance for Brent and West Texas Intermediate is higher.

24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. We have included the latest analyst 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 ConocoPhillips, Meta Platforms, Moderna, Snap, Twitter, United Airlines, Wells Fargo and many more.

Autoliv Inc. (NYSE: ALV): Deutsche Bank raised the shares to Buy from Hold and lifted the $117 target price to $123. The shares have traded between $80.83 and $110.59 over the past 52 weeks and have a consensus target of $110.95.

Coupa Software Inc. (NASDAQ: COUP): BMO Capital Markets started coverage with a Market Perform rating and a $135 target price. The consensus target is $217.35. The 52-week trading range is a wide $115.55 to $377.04.

Ginkgo Bioworks Holdings Inc. (NYSE: DNA): BofA Securities began coverage with a Neutral rating and a $6 price objective The consensus target is up at $13.25. The 52-week trading range is $4.34 to $15.86.

Enterprise Products Partners L.P. (NYSE: EPD): Citigroup downgraded the energy giant to Neutral from Buy. Over the past year, the stock has traded in a tight range of $20.42 to $25.69, and it has a $28.64 consensus target.

Helix Energy Solutions Group Inc. (NYSE: HLX): Piper Sandler upgraded the stock to Overweight from Neutral and lifted the $4.50 target price to $5.60. The shares have traded in a 52-week range of $2.88 to $6.76.

Informatica Inc. (NYSE: INFA): Citigroup upgraded the stock to Buy with a $35 price target. The shares have traded between $24.30 and $40.13 over the past year. The consensus target is $41.83.

Intuit Inc. (NASDAQ: INTU): BMO Capital Markets started coverage with a Buy rating and a $625 target price. The consensus target is up at $719.60. Over the past year, the stock has traded in a wide range of $365.15 to $716.86.

Mirati Therapeutics Inc. (NASDAQ: MRTX): BofA Securities upgraded the stock to Neutral from Underperform but slashed the target to $141 from $171. The shares have traded in a 52-week range of $106.14 to $214.43 and have a $218 consensus target.

Oceaneering International Inc. (NYSE: OII): Piper Sandler’s upgraded to Overweight from Neutral came with a target price hike to $21 from $11. The stock has traded in a 52-week range of $8.65 to $18.20.

Somalogic Inc. (NASDAQ: SLGC): Stifel started coverage with a Buy rating and a $12 target price. The consensus target is higher at $17.36. The stock has traded in a 52-week range of $7.29 to $14.72.


Want to own tech stocks but also need income? Five well-known technology companies pay big dividends, have solid growth prospects for the rest of 2022 and beyond, and look like outstanding ideas now.

Plus, BofA Securities now sees plenty to like in two top lithium producers.

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