Investing

Wednesday Afternoon’s Analyst Upgrades and Downgrades: Cal-Maine Foods, Freshpet, Host Hotels, SmileDirectClub, Wayfair and More

Markets edged lower on Wednesday afternoon following the S&P 500 closing at its highest level since January. Wednesday’s session just seems to be a bump in the road to recovery, and a response to crude oil prices rising nearly 3%.

The past couple of weeks have been relatively positive for the markets, as they have rebounded after the initial shock from the invasion of Ukraine. However, headwinds in international markets remain, as Europe and other nations are still figuring out from where they will get their oil and gas.

Again, domestically, markets have settled down, and the S&P 500 has notched its second straight week of gains after pulling into correction territory following the onset of Russia’s invasion. Investors will be turning their attention to a handful of economic numbers coming out this week, namely Wednesday’s Conference Board’s Consumer Confidence Index and Thursday’s JOLTS report.

24/7 Wall St. is reviewing more 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 Adobe, Amazon, Carnival, Chewy, Nvidia, Oracle, Walmart and many more.

The Bank of New York Mellon Corp. (NYSE: BK): Goldman Sachs downgraded to a Neutral rating from Buy and cut the price target to $60 from $68. The stock traded near $52 on Wednesday. The 52-week range is $45.80 to $64.63.

Cal-Maine Foods, Inc. (NASDAQ: CALM): Consumer Edge Research upgraded to an Overweight rating from Equal Weight. The 52-week trading range is $33.85 to $57.00, and shares were trading near $53 apiece on Wednesday.

Freshpet, Inc. (NASDAQ: FRPT): Goldman Sachs upgraded to a Buy rating from Neutral and raised the price target to $136 from $111. The stock was trading near $106 on Wednesday, and the 52-week range is $78.81 to $186.98.

Host Hotels & Resorts, Inc. (NASDAQ: HST): Jefferies upgraded to a Buy rating from Hold and raised the price target to $25 from $20. Shares were trading near $20 on Wednesday. The 52-week range is $14.67 to $20.22.

Kala Pharmaceuticals, Inc. (NASDAQ: KALA): JPMorgan downgraded to an Underweight rating from Neutral. Shares were trading near $1.50 on Wednesday. The 52-week range is $0.59 to $8.38.

Mohawk Industries, Inc. (NYSE: MHK): JPMorgan downgraded to an Underweight rating from Overweight and cut the price target to $140 from $206. Shares were trading near $132. The 52-week range is $121.04 to $231.80.

RH (NYSE: RH): Jefferies upgraded to a Buy rating from Hold and cut the price target to $560 from $634. The 52-week trading range is $320.81 to $744.56, and shares were trading near $337 on Wednesday.

SmileDirectClub Inc. (NASDAQ: SDC): Loop Capital downgraded to a Sell rating from Hold with a $2 price target. The stock traded near $3 a share on Wednesday. The 52-week range is $1.75 to $11.75.

Wayfair Inc. (NYSE: W): Loop Capital downgraded to a Sell rating from Hold and cut the price target to $90 from $95. Shares were trading near $122 on Wednesday. The 52-week range is $100.57 to $343.80.

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