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

Pfizer Inc. (NYSE: PFE): Zacks has selected this as its Bull of the Day stock. The analyst says that the dividend yield of 3% is just one reason it is a top stock pick. The shares most recently closed at $53.00 and have a consensus price target of $60.76.

SkyWest Inc. (NASDAQ: SKYW): Raymond James downgraded the stock to Outperform from Strong Buy and cut the target price to $48 from $63. Deutsche Bank lowered its Buy rating to Hold and slashed the price target to $39 from $65. The consensus target is $60.00. The last trade for Friday was posted at $29.47, down an incredible 23% even though earnings and revenues beat estimates.

Skyworks Solutions Inc. (NASDAQ: SWKS): UBS kept a Neutral rating on the stock while cutting its price target to $145 from $180. Cowen reiterated a Buy rating but dropped its target to $175 from $210, while Mizuho maintained a Buy rating and lowered the $218 price target to $210. The consensus target is $202.58. Shares closed on Friday at $135.10.

Snap Inc. (NYSE: SNAP): The RBC Capital Markets downgrade to Sector Perform from Outperform included a target price cut to $40 from $54. Jefferies kept a Buy rating and lifted the $55 target price to $60. Stifel also reiterated a Buy rating, and it raised the target to $50 from $45. The consensus target is $61.94. The stock had a huge day Friday, closing at $38.91, up close to 60%, after posting outstanding results and metrics.

Snowflake Inc. (NYSE: SNOW): Morgan Stanley upgraded the shares to Overweight from Equal Weight and lifted the target price to $390 from $344. The consensus target is $383.65. The stock closed Friday’s session at $275.72, almost 8% higher for the day. Shares were up almost 5% in premarket trading.

VICI Properties Inc. (NYSE: VICI): Citigroup resumed coverage with a Buy rating and a $32 price target for the triple net lease gaming real estate investment trust. The consensus target is $36.01. The final trade Friday was at $28.14.

Wipro Ltd. (NYSE: WIT): While Jefferies upgraded the shares to Hold from Underperform, it also lowered the target price to $7.70 from $8.50. The consensus target is $8.39. The stock closed at $7.60 on Friday.

While the gravy train for big tech may be ending, hard assets probably will continue to do well. Four real estate investment trusts pay big and dependable distributions, and their stocks are rated Buy at top Wall Street firms.

Friday’s early top analyst upgrades and downgrades included Agnico-Eagle Mines, Biogen, Exelon, Meta Platforms, New York Times, PulteGroup, Snap and Vertex Pharmaceutical. Analyst calls seen later in the day were on, Chipotle Mexican Grill, Penn National Gaming, Pinterest and more.

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