Tuesday Afternoon’s Top Analyst Upgrades and Downgrades: DraftKings, GE, Goodyear, Splunk and More
Tuesday afternoon's top analyst upgrades and downgrades included Autodesk, DraftKings, Foot Locker, General Electric, Goodyear Tire, Okta, Rocket Companies, Splunk, Sysco, Tuya and Zscaler.
While markets were closed on Monday for Presidents Day, this didn’t stop the world from watching the geopolitical fireworks in Eastern Europe. Markets were mixed to open on Tuesday and by late morning the big indexes were all lower, as investors were keeping a close eye on Russia and Ukraine.
24/7 Wall St. is reviewing some big analyst calls seen on Tuesday. 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, CrowdStrike, DataDog, SentinelOne and many more.
Autodesk Inc. (NASDAQ: ADSK | ADSK Price Prediction): RBC Capital Markets reiterated an Outperform rating and cut the price target to $300 from $343. The 52-week trading range is $215.00 to $344.39, and shares were trading near $218 apiece on Tuesday.
Burlington Stores Inc. (NYSE: BURL): Berenberg upgraded the stock to Buy from Hold and has a $315 price target. Shares were trading near $230 on Tuesday. The 52-week range is $206.70 to $357.34.
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DraftKings Inc. (NASDAQ: DKNG): Roth Capital raised its Sell rating to Neutral and cut the price target to $19 from $23. Wells Fargo downgraded the shares to Equal Weight from Overweight and slashed the $41 price target to $19. The stock was trading near $18 on Tuesday, and the 52-week range is $16.57 to $74.38.
Foot Locker Inc. (NYSE: FL): Telsey Advisory reiterated a Market Perform rating and cut the price target to $48 from $64. Shares were trading near $43. The 52-week range is $39.76 to $66.71.
General Electric Co. (NYSE: GE): RBC Capital Markets reiterated an Outperform rating and raised the price target to $113 from $108. The 52-week trading range is $88.05 to $116.17, and shares were last seen near $94.
Goodyear Tire & Rubber Co. (NASDAQ: GT): Jefferies downgraded it to Hold from Buy. Shares were trading near $15 on Tuesday. The 52-week range is $14.33 to $24.89.
Iridium Communications Inc. (NASDAQ: IRDM): The Barclays upgrade was from Equal Weight to Overweight with a $47 price target. The 52-week trading range is $31.73 to $48.95, and shares were last seen trading near $37.
Okta Inc. (NASDAQ: OKTA): JMP Securities upgraded it to Outperform from Market Perform and has a $260 price target. The 52-week trading range is $163.45 to $287.44, and shares were trading near $171 apiece Tuesday.
Rocket Companies Inc. (NYSE: RKT): BofA Securities raised its Underperform rating to Neutral. Shares were trading near $12 on Tuesday. The 52-week range is $11.44 to $43.00.
Splunk Inc. (NASDAQ: SPLK): The JMP Securities downgrade was to Market Perform from Outperform. The stock was trading near $115 on Tuesday, and the 52-week range is $105.45 to $176.66.
Sysco Corp. (NYSE: SYY): Argus upgraded it from Hold to Buy with a $95 price target. The 52-week trading range is $68.05 to $86.73, and shares were last seen near $84.
Tuya Inc. (NYSE: TUYA): Morgan Stanley’s downgrade to Equal Weight from Overweight included a price target cut to $7.20 from $9.20. The 52-week trading range is $4.49 to $26.65, and shares were trading near $5 apiece on Tuesday.
Zscaler Inc. (NASDAQ: ZS): JMP Securities resumed coverage with a Market Perform rating and cut the price target to $350 from $400. Shares were trading near $258 on Tuesday. The 52-week range is $157.03 to $376.11.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
