Investing

Mondays Top Analyst Upgrades and Downgrades: Cigna, ConocoPhillips, Fortinet, Microchip Technology, Pfizer, Snap, Snowflake, VICI Properties and More

Estee Lauder Companies Inc. (NYSE: EL): Citigroup upgraded the venerable cosmetics and fragrance giant to Buy from Neutral and lifted the target price to $374 from $355. Morgan Stanley kept an Overweight rating and slightly lowered its target price to $350 from $365, while JPMorgan reiterated an Overweight rating and cut the price target to $338 from $380. The consensus target is $372.75. The final trade on Friday was reported at $313.35, or up close to 4% for the day.

Fortinet Inc. (NASDAQ: FTNT): Barclays reiterated an Equal Weight rating and increased the target price to $364 from $355. UBS kept a Neutral rating and lowered its target to $340 from $370, while Wedbush reiterated an Outperform rating and dropped the price objective to $350 from $400. The consensus target is $367.14. Friday’s closing share price of $314.33 was up close to 6% for the day.

GitLab Inc. (NASDAQ: GTLB): RBC Capital Markets upgraded the stock to Outperform from Market Perform and has a $90 price target. The consensus target is much higher at $119.67. The last trade on Friday was reported at $72.40, up a stunning 17% after some indicated a major short squeeze boosted the shares.

Hershey Co. (NYSE: HSY): Goldman Sachs reiterated a Buy rating on the chocolate and confection giant and bumped the $221 target price to $227, while Credit Suisse stayed with an Outperform rating and lifted the target to $227 from $214. The consensus target is $210.30. The stock closed on Friday at $202.78 a share.


Lazard Ltd. (NYSE: LAZ): Keefe Bruyette’s downgrade was to Market Perform from Outperform, and it lowered the price target to $49 from $52. The consensus price objective is $52.88. The shares were last seen Friday at $41.28, down over 3% on the day.

ManTech International Corp. (NASDAQ: MANT): BofA Securities raised the stock to Buy from Underperform and has a $90 price target. The consensus target is $81.43. The shares had a massive day on Friday, closing up almost 10% at $80.73, and it tacked on an additional 13% in afterhours trading. Reports indicated co-founder George Perderson is looking into options for his controlling stake in the company, which could include a sale.

McKesson Corp. (NYSE: MCK): Deutsche Bank downgraded the medical products and services giant to Hold from Buy but lifted the target price to $270 from $262. The consensus target is $289.73, and the shares closed on Friday at $265.86.

Microchip Technology Inc. (NASDAQ: MCHP): Stifel reiterated a Hold rating on the stock and slightly raised the price target to $84 from $82. UBS kept a Buy rating and boosted their target on the shares to $98 from $92, while Citigroup kept a Neutral rating and sliced the price objective to $$78 from $90. The consensus target is $98, and the share closed out Friday trading at $73.18.

Paylocity Holding Corp. (NASDAQ: PCTY): Piper Sandler upgraded the stock to Overweight from Neutral and raised the target price to $249 from $244. The consensus target is up at $268.21. The shares were last seen on Friday at $217, up 10% after posting stellar earnings and revenues that beat estimates.

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