Investing

Thursday's Top Analyst Upgrades and Downgrades: Coinbase, FedEx, Planet Labs, Southwestern Energy, Spotify, Tapestry and More

Semtech Corp. (NASDAQ: SMTC): B. Riley Securities lowered its Buy rating to Neutral and cut the $87 target price to $65. The consensus price target is $85. The stock was last seen on Wednesday trading at $57.34.

Sonos Inc. (NASDAQ: SONO): Morgan Stanley’s downgrade to Equal Weight from Overweight included a target price cut to $28 from $38. The consensus target is $33.29. The stock closed on Wednesday at $19.42.

Southwestern Energy Co. (NYSE: SWN): Benchmark raised the natural gas player’s rating from Hold to Buy with a $14 target price. The consensus target is just $10.93. The close on Wednesday was at $7.76 a share.

Spotify Technology S.A. (NYSE: SPOT): Wells Fargo upgraded shares of the music streaming heavyweight to Equal Weight from Underweight. It also lifted its $101 price target to $124, but the consensus target is still higher at $146.88. The shares ended Wednesday almost 8% higher to $105.35.

Tapestry Inc. (NYSE: TPR): The Jefferies upgrade was to Buy from Hold, and the price target increased to $45 from $30. The consensus target is $45.72. The shares closed Wednesday at $32.70, which was up almost 4% after the upgrade.

Wheels Up Experience Inc. (NYSE: UP): Goldman Sachs started coverage with a Buy rating and a $5 target. The consensus target is $5.40. The stock closed Wednesday at $2.35, up a stunning 22% for the day, likely on the upgrade.


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Wednesday’s early top analyst upgrades and downgrades included Accenture, Bridgebio Pharma, Chesapeake Energy, eBay, Hewlett Packard Enterprise, Huntsman, New York Community Bancorp, Nucor, Oracle, PBF Energy, Phillips 66, United States Steel and Valero Energy. Analyst calls seen later in the day were on Airbnb, Coinbase Global, Marvel Technology, Nike, Robinhood Markets, Snowflake and more.

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