Wednesday's Top Analyst Upgrades and Downgrades: AutoZone, Etsy, Luminar, Nike, Norwegian Cruise, PayPal, Western Digital, Weyerhaeuser and More

Papa John’s International Inc. (NASDAQ: PZZA): Stifel kept a Buy rating on the popular pizza purveyor while lowering its $120 price objective to $100. The consensus target is $111.80, and Tuesday’s last trade was for $75.45 a share.

Parker-Hannifin Corp. (NYSE: PH): BofA Securities resumed coverage with a Neutral rating and a $315 target price. The consensus target is $325.69. The last trade for Tuesday was reported at $258.96.

PayPal Holdings Inc. (NASDAQ: PYPL): When Susquehanna lowered its Positive rating on the payments giant to Neutral, it also cut the $115 price objective to $100. The consensus target is $120.74. The $91.63 closed on Tuesday was down almost 4% on the day.

Pioneer Natural Resources Co. (NYSE: PXD): KeyBanc Capital Markets started covering the stock with an Overweight rating and a $290 target price. The $290.39 consensus target also is well above Tuesday’s last print of $231.74.

Vista Outdoor Inc. (NYSE: VSTO): Jefferies started coverage with a Hold rating and a $26 target. The consensus target is $48.97 for now. Tuesday’s close at $26.29 was down almost 7%, likely due to the weak tape.

Western Digital Corp. (NASDAQ: WDC): Deutsche Bank downgraded shares of the hard-disk-drive giant to Hold from Buy, and it cut its $56 target price to $40. The consensus target is higher for now at $70. The stock closed Tuesday at $35.54, down 3% for the day.

Weyerhaeuser Co. (NYSE: WY): BofA Securities downgraded the stock to Neutral from Buy and trimmed the $38 price target to $34. The consensus target is $40.30. The stock closed on Tuesday at $29.82, down almost 6% after the downgrade.

Ziff Davis Inc (NASDAQ: ZD): Evercore ISI initiated coverage with an Outperform rating and a $90 target price. The consensus target is $109.71. The stock closed at $74.56 on Tuesday.

Given the looming potential for massive downside as interest rates head higher, seven Dividend Aristocrat stocks in defensive sectors that look poised to do well for the rest of 2022 and into next year make a ton of sense for nervous investors now.

Tuesday’s top analyst upgrades and downgrades included Adobe, Cheniere Energy, CNX Resources, Edwards Lifesciences, EOG Resources, Huntsman, Kraft Heinz, NCR, Peloton Interactive, PulteGroup, Take-Two Interactive Software and UDR.

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