Occidental Petroleum Corp. (NYSE: OXY): Goldman Sachs lowered the $79 price target on the energy titan to $70. That compares with a $77.30 consensus target, and Tuesday’s closing print of $59.11.
PerkinElmer Inc. (NYSE: PKI): Evercore ISI’s downgrade was from Outperform to In line with a $150 target price. The consensus is $178.64. The shares were last seen Tuesday at $144.56.
Shopify Inc. (NYSE: SHOP): JMP Securities started coverage with a Market Perform rating. The shares have traded in a 52-week range of $29.72 to $176.29 and have an $85.09 consensus target. The stock closed over 8% higher on Tuesday at $34.
Signature Bank (NASDAQ: SBNY): Goldman Sachs lowered its $265 price target to $230 while keeping a Buy rating. The consensus target is a surprising $319.75. The last trade for Tuesday was recorded at $189.44.
Symbotic Inc. (NASDAQ: SYM): Needham initiated coverage with an Outperform rating and an $18 target price. The consensus target is $17.20. The last trade on Tuesday was reported at $14.26, up a stunning 21% on zero news.
Talaris Therapeutics Inc. (NASDAQ: TALS): Morgan Stanley downgraded the stock to Equal Weight from Overweight. It also slashed the $20 price target to $8, well below the consensus target of $15.25. The shares closed 26% higher on Tuesday at $2.90. The company recently posted a Phase 3 clinical data update.
Tesla Inc. (NASDAQ: TSLA): Oppenheimer reiterated an Outperform rating on the electric vehicle giant and has a $1,291 target price. The consensus target is just $893.72. The final trade Tuesday hit the tape at $699.20, up close to 3% on the day.
One big advantage to buying beaten-down stocks with substantial dividends is that one is paid to wait for the recovery. Six well-known fallen angel stocks have been hammered but look like solid ideas for investors in the long term.
Tuesday’s early top analyst upgrades and downgrades included Canopy Growth, Constellation Brands, Equifax, FedEx, Franklin Resources, Micron Technology, Paramount Global, RH and T-Mobile. Analyst calls seen later in the day were on Dollar General, HP, Texas Instruments and more.
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