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Monday's Top Analyst Upgrades and Downgrades: AMD, Alcoa, Chewy, CrowdStrike, DraftKings, Goldman Sachs, Lyft, Schlumberger, Zoom Video and More
October 10, 2022 8:56 am
Last Updated: October 10, 2022 9:06 am
Patterson-Uti Energy Inc. (NASDAQ: PTEN): Piper Sandler resumed coverage with an Overweight rating and a $19 target. The consensus target is up at $21.58. The shares were last seen on Friday trading at $14.29.
Principal Financial Group Inc (NASDAQ: PFG): J.P. Morgan lowered its Neutral rating to Underweight but lifted the $69 target price to $72. The consensus target is $73. The last trade Friday hit the tape at $76.04.
Progressive Corp. (NYSE: PGR): Jefferies raised its Hold rating to Buy from, and its $123 target price was hiked to $142. The consensus target is $121.63. Friday’s close was at $121.96.
Schlumberger Ltd. (NYSE: SLB): Piper Sandler resumed coverage with an Overweight rating. Its $50 target would be a 52-week high, and shares closed on Friday at $42.59.
Service Corp. International (NYSE: SCI): Truist Financial initiated coverage with a Buy rating and a $72 target price. The consensus target is $80.50. The final trade on Friday came in at $60.00 a share.
24/7 Wall St.Unity Software Inc. (NYSE: U): Needham started coverage with a Buy and a $50 target price. The consensus target is $54.94, and Friday’s closing trade of $32.77 was down almost 9% on no news we could find except for the horrible technology and market tape on Friday.
Unum Group (NYSE: UNUM): Truist Financial reiterated a Buy rating but trimmed the $48 target price to $44. The consensus target is $39.15. The stock ended Friday trading at $41.62.
Zoom Video Communications Inc. (NASDAQ: ZM): J.P. Morgan downgraded the stock to Neutral from Overweight and slashed the $295 target price to $85. The consensus target is $105.00. The last trade for Friday came in at $76.59.
Further federal funds rate increases and the third-quarter earnings reporting season could stir up the volatility cauldron. The best move for spooked investors may be to the top Warren Buffett stocks, as playing it safe now just makes sense.
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Friday’s top analyst upgrades and downgrades included Airbnb, Cleveland-Cliffs, CrowdStrike, Meta Platforms, Nasdaq, Okta, Penn Entertainment, PPL, Splunk, Target, U.S. Steel and Zscaler.
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