Investing

Nasdaq’s Big Reversal: Analysts Upgrade or Downgrade Crocs, Dollar General, HP, Texas Instruments and More

Markets recovered into the close after a fairly dismal start to this truncated trading week. Nasdaq completely reversed its losses at the open to a gain of over 1% for the day. The Dow Jones and S&P 500 each lagged on the day down 0.9% and 0.2%, respectively.

Despite this big push higher by the Nasdaq, the Fed appears to be growing less optimistic on the state of the economy with Jerome Powell stating that there was “no guarantee” that the Fed could avoid a hard landing. This sentiment is reflected in recent economic reports as well as consumer confidence which is sliding.

Be on the lookout for non-farm payrolls coming out on Friday, where the unemployment rate is expected to hold at 3.6%, which is just slightly above the pre-pandemic low of 3.5%, set back in February 2020.

24/7 Wall St. is reviewing additional 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 Canopy Growth, Micron, Paramount, T-Mobile and more.

Anheuser-Busch InBev SA/NV (NYSE: BUD): Citigroup upgraded to a Buy rating from Neutral. The 52-week trading range is $50.59 to $71.03, and shares traded above $54 apiece on Tuesday.

Crocs, Inc. (NASDAQ: CROX): Loop Capital upgraded to a Buy rating from Hold with a $75 price target. The 52-week trading range is $46.08 to $183.88. The stock traded near $53 on Tuesday.

Dollar General Corp. (NYSE: DG): Cleveland Research upgraded to a Buy rating from Neutral. The 52-week range is $183.25 to $262.21. Shares traded near $250 apiece on Tuesday.

Ferrari N.V. (NYSE: RACE): Jefferies upgraded to a Hold rating from Underperform. The stock traded near $189 on Tuesday, in a 52-week range of $167.45 to $278.78.

HP Inc. (NYSE: HPQ): Evercore ISI downgraded to an In Line rating from Outperform and cut the price target to $36 from $43. The shares traded near $31 on Tuesday. The 52-week trading range is $26.11 to $41.47.

Live Nation Entertainment, Inc. (NYSE: LYV): Macquarie upgraded to an Outperform rating from Neutral and cut the price target to $105 from $117. The stock traded near $85 on Tuesday. The 52-week trading range is $74.23 to $127.75.

Sony Group Corp. (NYSE: SONY): Citigroup downgraded to a Neutral rating from Buy. The 52-week trading range is $79.05 to $133.75, and shares traded above $80 apiece on Tuesday.

Texas Instruments Inc. (NASDAQ: TXN): DZ Bank downgraded to a Hold rating from Buy with a $150 price target. The 52-week trading range is $144.46 to $202.26, and shares were trading near $148 on Tuesday.

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