Tuesday's Top Analyst Upgrades and Downgrades: Canopy Growth, FedEx, Franklin Resources, Micron Technology, Paramount Global, T-Mobile and More

Paramount Global (NASDAQ: PARA): Daiwa Securities initiated coverage with a Neutral rating and a $26 price objective. The consensus target is $35.22. Friday’s closing trade was reported at $25.21.

PureCycle Technologies Inc. (NASDAQ: PCT): Oppenheimer maintained an Outperform rating with a $16 target price. The consensus is $19.00. The final trade on Friday was recorded at $7.01, down close to 6% for the day after the company named a new chief executive.

RH (NYSE: RH): Goldman Sachs lowered its $262 price target on the Neutral-rated shares to $224. The consensus target is $335.07 for now. The shares closed Friday at $220.70, up just shy of 4% on the day.

Sonoco Products Co. (NYSE: SON): Citigroup began coverage on the shares with a Buy rating and a $66 target price. The $65.83 consensus target also compares with Friday’s closing print of $58.83, which was up over 3% for the day.

Spectrum Brands Inc. (NYSE: SPB): Zacks named this consumer products stock as its Bear of the Day, citing its tendency to fall short of earnings estimates. The shares have traded as high as $107.22 in the past year but closed most recently at $83.46, which is down about 18% year to date.

Symbotic Inc. (NASDAQ: SYM): Citigroup initiated coverage with a Buy rating and a $15 target price. The consensus target is up at $17.20. The final trade for Friday was reported at $11.89, up over 8% for the day on no reported news we could source.

Teradyne Inc. (NYSE: TER): J.P. Morgan started coverage with a Neutral rating and a $120 target price. The consensus target is $128.37. The stock closed over 4% lower Friday at $85.80.

T-Mobile US Inc. (NASDAQ: TMUS): Raymond James reiterated a Strong Buy rating on the carrier while bumping their target price up to $160 from $158. The consensus target is even higher at $166.83. The shares ended trading at $136.81 on Friday.

Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE): Stifel lowered the $176 target price on the stock to $142 while keeping a Buy rating. The consensus target is $124.19. Friday’s close at $62.65 was up 5% for the day.

With the potential for massive downside still looming and interest rates definitely going higher, 24/7 Wall St. searched for Dividend Aristocrat stocks that are in sectors that are defensive but that look poised to do well in the second half of 2022.

Clorox, J.M. Smucker and other top companies are expected to lift the dividends they pay to shareholders this week.

Friday’s top analyst upgrades and downgrades included AppLovin, Coty, Etsy, FedEx, Hewlett Packard Enterprise, Huntington Bancshares, Nutanix, Paychex, Shopify, Simon Property, Tesla, Ventas and Warner Bros. Discovery. Analyst calls seen later in the day were on Comcast, Coupang, Harley-Davidson, Micron Technology, XPeng, ZIM Integrated Shipping Services and more.

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