Wednesday Afternoon’s Top Analyst Upgrades and Downgrades: Coupang, Foot Locker, Gap, Stitch Fix and More
Wednesday afternoon's top analyst upgrades and downgrades included Bumble, Coupang, Foot Locker, Gap, Match, Nektar Therapeutics, Paychex, Signify Health and Stitch Fix.
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Markets bounced back with a vengeance on Wednesday, as the Nasdaq led the charge with a gain of over 2%. At the same time, oil prices pulled back from their 14-year highs in response to markets pushing higher. Investors are still weighing the ramifications of what trade sanctions with Russia might mean in the coming months, if not years.
24/7 Wall St. is reviewing some big analyst calls seen on Wednesday. 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, Dollar Tree, Kohl’s, Netflix, Palantir and many more.
Bumble Inc. (NASDAQ: BMBL): BMO Capital Markets upgraded the stock from Market Perform to Outperform with a $48 price target. The 52-week trading range is $15.92 to $76.49, and shares were trading near $24 Wednesday.
Coupang Inc. (NYSE: CPNG | CPNG Price Prediction): UBS raised its Neutral rating to Buy. The 52-week trading range is $16.61 to $69.00, and shares were trading near $22 apiece on Wednesday.
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Foot Locker Inc. (NYSE: FL): Argus’s downgrade was to Hold from Buy. Shares were trading near $30 on Wednesday. The 52-week range is $26.36 to $66.71.
Gap Inc. (NYSE: GPS): Daiwa Securities downgraded it to Underperform from Neutral and has a $13.75 price target. Shares were trading near $14 on Wednesday. The 52-week range is $13.12 to $37.63.
Match Group Inc. (NASDAQ: MTCH): BMO Capital Markets downgraded the shares to Market Perform from Outperform and has a $130 price target. Shares were trading near $96 on Wednesday. The 52-week range is $89.15 to $182.00.
Nektar Therapeutics (NASDAQ: NKTR): Oppenheimer’s upgrade was from Perform to Outperform with a $21 price target. The stock was trading near $11 on Wednesday, and the 52-week range is $9.31 to $23.50.
Paychex Inc. (NASDAQ: PAYX): BofA Securities lifted its Underperform rating to Neutral with a $125 price target. Shares were trading near $120. The 52-week range is $92.74 to $138.97.
Signify Health Inc. (NYSE: SGFY): UBS raised its $20 price target to $21 as it upgraded the stock to Buy from Neutral. The stock was trading around $17 on Wednesday, and the 52-week range is $11.11 to $31.91.
Stitch Fix Inc. (NASDAQ: SFIX): The Telsey Advisory downgrade to Market Perform from Outperform included a price target cut to $14 from $25. Truist also downgraded it, from Buy to Hold with a $12 price target. The 52-week trading range is $8.82 to $69.20, and shares were trading near $9 apiece Wednesday.
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Given recent geopolitical events, Goldman Sachs notes that vigilance at every level is now a huge priority to ensure cybersecurity and that six top companies will benefit from the increased spending across the industry.
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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.
