Tuesday Afternoon’s Top Analyst Upgrades and Downgrades: Biogen, BP, Caterpillar, Riot Blockchain, Squarespace and More
Tuesday afternoon's top analyst upgrades and downgrades included Biogen, BP, Caterpillar, Riot Blockchain, Squarespace and more.
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Markets turned positive briefly on Tuesday afternoon as investors are considering the implications of a ban on importing Russian oil. While markets have been in retreat for the most part since the Russia-Ukraine conflict began, oil prices have soared hitting highs not seen since 2008.
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 Bank of America, Beyond Meat, Coinbase, Dell, and many more.
Biogen Inc. (NASDAQ: BIIB | BIIB Price Prediction): Stifel downgraded to a Hold rating from Buy and cut the price target to $223 from $304. The 52-week trading range is $200.36 to $468.55, and shares were trading near $204 apiece Tuesday.
BlackRock, Inc. (NYSE: BLK): Exane BNP Paribas downgraded to a Neutral rating from Outperform with a $725 price target. The 52-week trading range is $660.15 to $973.16, and shares were trading near $669 apiece on Tuesday.
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BP PLC (NYSE: BP): BofA Securities upgraded to a Neutral rating from Underperform. Shares were trading near $30 on Tuesday. The 52-week range is $22.64 to $34.16.
Conagra Brands, Inc. (NYSE: CAG): Consumer Edge Research downgraded to an Equal Weight rating from Overweight with a $34 price target. Shares were trading near $31 on Tuesday. The 52-week range is $30.44 to $39.09.
Cara Therapeutics, Inc. (NASDAQ: CARA): JPMorgan upgraded to an Overweight rating from Neutral and raised the price target to $20 from $17. Shares were trading near $11 on Tuesday. The 52-week range is $9.63 to $29.65.
Caterpillar Inc. (NYSE: CAT): Jefferies upgraded to a Buy rating from Hold and raised the price target to $260 from $215. Shares were trading near $210 on Tuesday. The 52-week range is $179.67 to $246.69.
DISH Network Corp. (NASDAQ: DISH): UBS upgraded to a Buy rating from Neutral with a $44 price target. The stock was trading near $31 on Tuesday, and the 52-week range is $25.84 to $47.05.
Occidental Petroleum Corp. (NYSE: OXY): BofA Securities downgraded to a Neutral rating from Buy and raised the price target to $80 from $65. Shares were trading near $53. The 52-week range is $21.62to $58.77.
Riot Blockchain, Inc. (NASDAQ: RIOT): Compass Point downgraded to a Neutral rating form Buy and cut the price target to $39 from $45. The 52-week trading range is $14.42 to $67.85, and shares were trading near $15 apiece Tuesday.
Squarespace, Inc. (NYSE: SQSP): Mizuho downgraded to a Neutral rating from Buy and cut the price target to $22 from $35. The stock was trading around $25 on Tuesday, and the 52-week range is $18.57 to $64.71.
Six top real estate investment trusts pay a 5% or higher distribution and are offering outstanding entry points after recent pullbacks. They are in sectors poised to do well in difficult times and are rated Buy at top Wall Street firms.
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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.
