More Thursday Analyst Upgrades and Downgrades: As Interest Rates Rise, Analysts Target Capital One, Norwegian Cruise, Synchrony and More
Thursday's additional top analyst upgrades and downgrades included Capital One Financial, Norwegian Cruise Line, Synchrony Financial, TuSimple and Zions Bancorp.
Markets edged higher on Thursday, even withstanding West Texas Intermediate crude oil pushing back above the $100 per barrel mark. This also comes after a long-awaited rate hike by the Federal Reserve. It is yet to be seen if markets have bottomed out, but a couple of consecutive positive trading sessions are a sign of some optimism.
Fed Chair Jerome Powell recently announced that interest rates would be bumping up by 25 basis points. Although many expected this move, and thought it was a long time coming, the question remains of how many more rate hikes are coming.
Powell has stated that the rate hike is more or less already priced into the markets, noting the recent decline across the broad markets. Even though a majority of this downturn can be attributed to the Russia-Ukraine conflict, the pullback in equities has been significant enough, with the Nasdaq near bear market territory and both the Dow Jones industrials and S&P 500 in correction territory.
24/7 Wall St. is reviewing more big analyst calls seen on Thursday. 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 American Airlines, Delta Air Lines, Disney, Nio, Roblox and many more.
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BeiGene Ltd (NASDAQ: BGNE): SVB Leerink downgraded the stock to Market Perform from Outperform and cut the price target to $177 from $300. The 52-week trading range is $136.09 to $426.56, and shares were trading near $180 on Thursday.
Capital One Financial Corp. (NYSE: COF | COF Price Prediction): Wolfe Research’s downgrade was to Peer Perform from Outperform. The stock traded near $134 on Thursday. The 52-week range is $121.21 to $177.95.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH): Morgan Stanley lifted its Underweight rating to Equal Weight with a $19 price target. The 52-week trading range is $14.90 to $33.95, and shares were trading near $19 apiece on Thursday.
Synchrony Financial (NYSE: SYF): Wolfe Research downgraded the shares to Peer Perform from Outperform. The stock was trading near $37 on Thursday, and the 52-week range is $33.76 to $52.49.
TuSimple Holdings Inc. (NASDAQ: TSP): Citigroup resumed coverage with a Buy rating and a $40 price target. Shares were trading near $12 on Thursday. The 52-week range is $8.41 to $79.84.
United Natural Foods Inc. (NYSE: UNFI): Wells Fargo’s upgraded to Equal Weight from Underweight and included a price target hike to $38 from $35. Shares were trading near $39 on Thursday. The 52-week range is $30.61 to $57.89.
Zions Bancorp. (NASDAQ: ZION): B. Riley Securities downgraded the stock to a Neutral rating from Buy and has a $77 price target. Shares were trading near $67. The 52-week range is $47.06 to $75.44.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
