Investing

Thursday Afternoon's Top Analyst Upgrades and Downgrades: AbbVie, First Solar, The Gap, Qualcomm, Spotify and More

Markets were getting crushed going into the close on Thursday with the tech sector leading the charge lower. The Nasdaq was down over 3%, with the Dow and S&P 500 down 1% and 2%, respectively. Much of this disappointment was the result of Facebook’s parent company Meta whiffing on earnings in the fourth quarter.

24/7 Wall St. is reviewing some big analyst calls seen on Thursday. 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 AMD, Beyond Meat, EA, Exxon, Meta, PayPal and many more.

AbbVie Inc. (NYSE: ABBV): Barclays reiterated an Equal Weight rating and raised the price target to $150 from $133. BofA Securities reiterated a Neutral rating and raised the price target to $138 from $133. Shares were trading near $140 on Thursday, and the 52-week range is $102.05 to $141.71.

Brinker International Inc. (NYSE: EAT): Barclays reiterated an Equal Weight rating and raised the price target to $44 from $41. Wedbush reiterated a Neutral rating and raised the price target to $42 from $36. Deutsche Bank reiterated a Hold rating and lowered the price target to $44 from $47. Shares were trading near $37 on Thursday. The 52-week range is $30.20 to $78.33.

First Solar, Inc. (NASDAQ: FSLR): BofA Securities downgraded to a Neutral rating from Buy with a $91 price target. Shares were trading around $71 on Thursday, and the 52-week range is $67.71 to $123.13.

The Gap Inc. (NYSE: GPS): Barclays downgraded to an Equal Weight rating from Overweight with a $15 price target. The 52-week trading range is $15.45 to $37.63, and shares were trading near $17 apiece.

Match Group Inc. (NASDAQ: MTCH): Wolfe Research reiterated an Outperform rating and lowered the price target to $160 from $163. Barclays reiterated an Equal Weight rating and lowered the price target to $132 from $153. Wedbush reiterated a Neutral rating and lowered the price target to $130 from $170. The stock was trading near $112 on Thursday, and the consensus target price is $158.88.

Qualcomm Inc. (NASDAQ: QCOM): Morgan Stanley reiterated an Overweight rating and raised the price target to $223 from $215. Raymond James reiterated a Strong Buy rating and raised the price target to $222 from $190. The 52-week trading range is $122.17 to $193.58, and shares were last seen trading near $180.

Qorvo, Inc. (NASDAQ: QRVO): UBS reiterated a Neutral rating and cut the price target to $145 from $180. Barclays reiterated an Overweight rating and cut the price target to $200 from $220. Shares were trading around $129 on Thursday. The 52-week range is $123.92 to $201.68.

Spotify Technology SA (NYSE: SPOT): Wolfe Research reiterated a Peer Perform rating and cut the price target to $220 from $260. Wells Fargo reiterated an Underweight rating and cut the price target to $153 from $200. Jefferies reiterated a Buy rating and cut the price target to $275 from $358. Shares were trading near $160 on Thursday. The 52-week range is $155.58 to $387.44.

Energy was the place for investors to be in January, but is it too late to buy in? Five top picks from Goldman Sachs look ready to continue to ride the increase in oil pricing this year, and they still make sense for growth and income investors.

See three more companies that might benefit by following Alphabet’s lead and announcing stock splits.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.